LT6018GN Strategic Planning Report: ME London Hotel Business Analysis

This report provides a comprehensive analysis of strategic planning within the hospitality industry, specifically focusing on the ME London Hotel. It begins with an introduction to strategic management, outlining the importance of vision, objectives, and goal setting. The report then delves into key components of the strategic management process, including situational analysis, strategic direction, and strategy formulation and implementation. It emphasizes the significance of situational analysis for the ME London Hotel. Furthermore, the report conducts a Porter's Five Forces analysis to assess the competitive landscape and offers insights into how this model can inform business strategies. PESTEL and SWOT analyses are also performed to evaluate the hotel's external and internal environments, respectively, and identify opportunities for competitive advantage. Finally, the report explores various strategic options, including franchising, management contracts, and joint ventures, with an emphasis on the advantages of joint ventures for the ME London Hotel. The report concludes by summarizing the key findings and recommendations, offering a valuable resource for understanding strategic planning in the hospitality sector.

Strategic planning for the
hospitality industry

INTRODUCTION
Strategic planning is a process in which mangers and leaders of the company identify their
vision for the future and also identify their objectives and goals for the company.
This process also includes establishment the succession in which those objectives and goals
fall so that the company is enabled to reach to their stated vision.

To be continued...
 This report will cover component of the strategic
management process which will include
situational analysis, strategic direction, strategy
formulation & implementation.
 It will also explain which is best or the ME
London Hotel.
 This report will conduct Porter's 5 forces and it
will explain how this will help in the business
strategy.
 It will analyze PESTEL and SWOT of the ME
London Hotel for competitive advantage and in
the last it will provide advantages of joint
ventures.

Components of strategic management process and which
can help ME London Hotel to be success
In the process of strategic management include strategies formulation,goal setting,strategy
formulation and strategy monitoring. First of all company set their goals and according to the
company goals they make strategies. This can help ME London Hotel to achieve their future
goals and objective of their business.
Situational Analysis
In the situational analysis method mangers of the company analyse the external and internal
environment by using the tools. They use tools to find out the strength and weakness of the
company and according to the weakness and strength they make new strategies to archive
objectives of the organization.

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Strategic Direction
Strategic direction is important for the company because it provides a sense of the direction and
outline for the measurable goals. This process include action and plan which need to be put
in place to work toward the organizational vision. It necessary for each organization to have
their strategic direction, so they can be able to achieve business objective and complete their
vision and mission.
Strategy formulation & strategy implementation
In the strategy formulation mangers of the company make new strategies according to their
future gals and upcoming opportunists which can help their business to achieve better
growth in the market. And after making the proper strategies according to their goals
mangers of the company implement those strategies in the workplace. After implementing
the new strategies' manger of the company monitor that those strategies are working or not,
and they also take feedback from the other after implementation of the strategies.

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Best component among all
It will best for the ME London Hotel, if company
manager use situational analysis to achieve
their future goals and opportunities for the
company. In this process they find out the
strength and weakness of the company. So they
can overcome from their weakness and also
make new strategies for the company to achieve
their future goals and objectives.

Conduct Porter's five forces model analysis and explain
how it can helpful for the Business strategies
Porter's five Forces ME London Hotel
Competition in the industry
There are many competitors in this industry who have good repudiation in the market. It is
impotent for the Paddington Hotel to find their competitors and provide the best possible
facilities gain competitive advantages. Room cost should be affordable for the customers.
Potential of the new entrants into the industry
There is to much high competition on the global market and ME London Hotel will need better
market entry strategies, and they should have high amount of capital to enter the global
market. They can use joint venture strategies for the market entry this will fulfill the financial
need of the company.

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Power of supplier
power of the supplier over the hotel industry is to
much low. This industry is only subjected to the
power of the trained staff an power of the labor.
This industry has huge demand of them, so
management of the ME London Hotel should
provide training to their employees and staff
members, so they can provide satisfaction to their
guest and this will help them to achieve high
growth and market reputation.

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Threat of Substitute products
Services provide by the hotel industry is almost same, it is important for the ME London Hotel to
provide better services to their customers. it is important for them to provide fast services to
their guest and fulfill needs of their guest, so they can take good experience in the hotel. Most
of the customers recommend hotels to their family and friends if hotel able to satisfy the needs
of the customers.

PESTEL and SWOT analysis of the ME London Hotel to
take competitive advantages
Political
There are many benefits from the government which can help ME London Hotel to take
competitive advantages, they can set up their business in the other countries where tax rate is
low, and they can earn high profit.
Economical
ME London Hotel should be aware of any changes in the taxation and polices and other
factors which can effect their accessibility of the finance. It is important to mention that
although the business is growing internationally.
Social
They should provide affordable price rooms and services to their customers so Paddington
Hotel can take competitive advantages n the market.

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Technological
It is important for the ME London Hotel to adopt new technology in their hotel, so they can
achieve competitive advantages and provide better facilities and services to their customers.
Environmental
This will help to create better image and reputation in the market if ME London Hotel plant trees
near their hotel and make better environment near the hotel. Gust will get fresh air, and they
can gain customers locality.