Millennium & Copthorne Hotels: Analysis of Industry Trends and Factors

This report provides a comprehensive analysis of the contemporary hospitality industry, focusing on Millennium & Copthorne Hotels. It begins with an introduction to the industry's significance and the need for competitive advantage. The report then delves into a PESTEL analysis, examining the political, economic, social, technological, environmental, and legal factors impacting the hotel. A SWOT analysis identifies the company's internal strengths and weaknesses, as well as external opportunities and threats. The report further explores the impact of external factors, particularly the COVID-19 pandemic, on the hospitality sector. It highlights current trends, such as technological advancements and environmental sustainability, and discusses the ability of hotels to adapt their services and products to meet these trends. The analysis concludes by emphasizing the importance of continuous evaluation of both internal and external factors for sustained success in the hospitality industry. References are provided for further reading.

Contemporary Hospitality Industry

Table of content
 Introduction
 PESTEL analysis
 SWOT analysis
 Impact of external factors
 Implication of current trends and potentials.
 Ability of Hotel for the development of services and products
 Impact of External Factors on Potential and Current Trends
 Conclusion
 References

INTRODUCTION
 Hospitality industry is one of the major industries
in the economy of a country. It is important for the
company to make sure that they are ahead of
competition and they are having a competitors
advantage in the industry. It is important for the
company to analyse the external and internal
factors that may have an effect on the workings of
the company. In context to Millennium &
Copthorne Hotels, they are one of the biggest hotels
in the United Kingdom and has presence in more
than 120 countries.

PESTEL Analysis
 PESTEL Analysis: It refers to the analysis which is done in order to identify the external
factors of the company that can affect the management of the company.

Political factors:
 These are the factors that determine the amount of interference that the government can do
in the particular industry and in a free market. It includes government policies, political
stability, foreign trade policies, tax policies.

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 In context to Millennium & Copthorne, the company is active in more than 120 countries
and it is important for them to have a close check on the political factors such as labour
law, trade restrictions, instability in overseas market.

Economical factors:
 These are the factors that are determinants of the economic performance of a country. it
includes inflation rates, exchange rates, economic growth, inflation, disposable income of
consumers etc (Menicucci, E., 2018.).

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 In context to Millennium & Copthorne Hotels, It is important for the company to make
sure that they are aware of these factors as they are dependent upon the stability of the
economy.

Social factors:
 these are the factors that are related to the norms of the society in which the company is
working. Every society has their own norms and culture and the company have to comply
to those. It includes norms, culture, population growth, age distribution, career attitude,
etc.

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 In context to Millennium & Copthorne Hotels, they need to comply to the norms of the
society and works according to the society in order to survive.

Technological factors:
 It refers to the factors that are related to the upgradation of the technology in the industry
from which the business belongs(Njoroge and et. al., 2020.). It is important for the
company o be aware of the technology that is prevailing in the market and the one that
their competitors already have. It includes, automation, innovation, upgradation of
technology, etc.

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 In context to Millennium & Copthorne Hotels, they need to make sure that they have
upgraded technology in order to avoid any losses and in order to have competitive
advantage in the market.