Impact of External Factors and Trends in Hospitality Industry Report

This report delves into the contemporary hospitality industry, analyzing the impact of external factors on organizational development. It begins with an introduction to the hospitality sector, defining its scope and services. The report employs PESTEL and SWOT analyses to evaluate the political, economic, social, technological, environmental, and legal factors affecting the industry, as well as the strengths, weaknesses, opportunities, and threats faced by organizations. The analysis extends to the implications of current and potential trends, using The Savoy Hotel as a case study to illustrate how organizations adapt and innovate in response to changing market dynamics. The report examines the development of new products and services to meet these trends, including technological advancements like robots and chatbots. Finally, it concludes with a summary of the key findings and references relevant academic sources, providing a comprehensive overview of the challenges and opportunities within the hospitality industry. This document is contributed by a student to Desklib.

Contemporary Hospitality
Industry

Table of Content
• Introduction
• Explain how external factors affect the development of organisations which are operating within hospitality
industry
• SWOT analysis
• Impact of external factors on the development of organisations within the sector
• Assess the implications of current and potential trends with the help of some examples
• Ability of the organisation of the development of products and services which will meet current trends
• How external factors impact on current and potential trends and development in hospitality industry
• Conclusion
• References

Introduction
Hospitality industry refers to that industry
which provides different types of services to
people and that service includes
accommodation, hotel, travel and tourism
and many other. The hospitality refers in
building good relations with the people who
wants to take the services from any
hospitality sector.

PESTEL analysis
•Political factors- The political factors are related
with the government and they have the power for the
establishment of the hospitality industry. If they
provide full support to this industry then the
development of the organisations becomes easy.

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•Economic factors- The first factor can include the foreign exchange
rates of the currency which can affect the travellers to go to another
country.

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•Social factors- To provide the services which
meet the demand of people should be the main
priority of the organisations

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•Technological factors- For the hospitality industry it is very important that the
organisations must be developed or using some technologies.

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•Environmental factors- The organisations’
must be protective towards the environment and
must be working in that manner.

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•Legal factors- For the establishment of the
organisation it is important that they must
follow the legal requirements which are laid
down by the government.

SWOT analysis
•Strengths- The strengths of the hotel is the safe and neat atmosphere and they
focus mostly on the hygiene.

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•Weakness- The major weak point of the hotel
is that it charges high cost for one stay in the
hotel and which sometimes become
unfavourable for the people.

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•Opportunities- The main feature of The Savoy
hotel is that it is unique form the other hotel and
attracts large number of people because of the
marketing.