Business Strategy: Eco Victoria Hotel - Strategic Management Plan

This report presents a comprehensive strategic management plan for the proposed Eco Victoria Hotel, designed to capitalize on the growing visitor economy in Victoria, Australia. The plan begins with an executive summary outlining the concept and its alignment with the increasing trend of environmentally conscious travelers. It defines the visitor economy and provides a market analysis, highlighting the hotel's unique selling proposition: its eco-friendly practices and location near the Great Ocean Road. The report details the concept and implementation, including key personnel and roles, cost validation, and risk management strategies. It analyzes the current and future needs of the visitor economy, emphasizing the importance of sustainability. The report also includes an idea generation section that focuses on the construction of the Eco Hotel to meet the demands of environmentally conscious visitors. The report is a strategic response to the evolving needs of the visitor economy in Victoria, with the Eco Hotel poised to be a key player in the region's tourism sector. The report also includes competitor analysis, marketing and communication strategies and measures of success for the proposed Eco Hotel.

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STRATEGIC MANAGEMENT PLAN FOR ECO VICTORIA HOTEL
Student’s Name
Course Name
Professor’s Name
University Name
City, State
Date

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Contents
Executive Summary.....................................................................................................................................4
What is Visitors Economy.......................................................................................................................6
Introduction.................................................................................................................................................7
b. Idea Generation.....................................................................................................................................11
Market Analysis........................................................................................................................................14
Competitors...........................................................................................................................................14
Marketing and Communication.................................................................................................................15
Measure of Success...............................................................................................................................22
Demand Differentiation.........................................................................................................................22
Concept and Implementation.................................................................................................................23
Key Personnel and Roles.......................................................................................................................23
Cost Validation and Budget...................................................................................................................23
Risk and Management...........................................................................................................................24

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Executive Summary
Visitors Economy is a concept that is now replacing the word and term commonly referred to as
tourism. We will be discussing the visitor’s economy in Victoria, Australia. Visitors Economy in
Victoria, Australia has maintained an increasing growth pattern. When there is an increase in the
number of visitors coming into Victoria, Australia, means that there will be an automatic boost in
the overall economy of Victoria, Australia. The future is bright for the economy of Victoria,
Australia as a result of the visitor’s economy. There is a direct contribution as the visitors in
Victoria, Australia pay directly either in foreign exchange or money already exchanged at the
point of entry into Victoria. There are three types of contribution the Visitors Economy
contributes to the overall economy of Victoria which is direct contribution, indirect contribution
and induced contribution. The future of the Visitors Economy in Victoria is very bright. The
visitor’s economy will continue to be a very key economic driver for victoria. Victoria is well
known for its different multicultural history, a unique and well known sporting activity, very
beautiful scenery and a welcoming lifestyle.
To contribute to the visitors economy in Victoria, Australia, an organization has come up with a
new innovative idea of constructing and Eco Hotel near great Ocean Road, Victoria which will
greatly help in the development of the visitors Economy in Victoria. The idea is Construction of
Victoria ECO Hotel. Why Eco Hotel, the reason is that the visitors economy is now finding
itself under threat as a result of heightened awareness by visitors on the impact this sector is
causing to the environment and as a result having an impact on climate change.

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From our research and the information already gathered, the Victoria Eco Hotel will first of all
be the only Hotel in the area that will be fulfilling the current need of the victor’s economy of the
ever increasing environmental conscious visitors, this will be the first business of its kind in this
area hence will be distinct and unique and one of its kind and will have its own unique customers
hence this Victoria Hotel already will have a competitive edge against all the hotels in the area.
Due to its unique offering Victoria Eco Hotel has set its Victors rate for its entire business
operations at 100%. To achieve this set of targets and objectives, a strategic management plan
has been put in place

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What is Visitors Economy
Visitors Economy is a concept that is now replacing the word and term commonly referred to as
tourism. The Visitors Economy as well known in Victoria Australia is a section of the economy
in Victoria Australia that has really maintained increasing growth pattern. The Visitors
economy can also be described and defined as any activity, either directly or indirectly
resulting from the visitors visiting, Victoria, Australia interacting with the places they are
visiting. These activities can include consuming goods and services which are provided
by local suppliers, interaction by employees who manage these places of interaction.
When there is an increase in the numbers of visitors coming to Victoria, Australia,
automatically there will be a boost in the economy of Victoria, Australia. To contribute to
the visitors economy in Victoria, Australia, an organization has come up with a new
innovative idea of constructing and Eco Hotel near great Ocean Road, Victoria which will
greatly help in the development of the visitors Economy in Victoria. From the
information gathered one of the current market needs is Environmental Conscious
Visitors - So many visitors are well informed before they make decisions on the
destinations of travel, they normally get concerned about the environment and how the
government of their choice travel destination is making an effort to conserve the
environment, so the Eco hotel is going to fill this need especially on the environmentally
conscious visitors

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Introduction
Visitors Economy in Victoria, Australia has maintained a constant growth pattern. Visitor
economy is a major foreign exchange earner into the economy. When there is an increase in the
number of visitors coming into Victoria, Australia, means that there will be an automatic boost in
the overall economy of Victoria, Australia. People are now more concerned with their health
and stability of the mind that travelling around, visiting other places has become the norm hence
the need to bank on the visitor economy to bring in more foreign exchange, create more
employment opportunities and boost the economy of Victoria, Australia. The future is bright for
the economy of Victoria, Australia as a result of the visitor’s economy. When the number of
foreigners who visit increases in Victoria, Australia, it automatically leads to the increase in
direct consumption in the hotel sector, restaurants, the tourism attraction centers, the logistic
sectors also benefits. The entrepreneurs, organizations and institutions supporting the visitor’s
economy also benefit, not forgetting that these organization have employees from Victorian,
Australia whoa are paid and inject the money back into the economy.
The Visitors Market In Victoria
Current Size of the Visitors Economy in Victoria, Australia
There is a direct contribution as the visitors in Victoria, Australia pay directly either in foreign
exchange or money already exchanged at the point of entry into Victoria.
a. Logistical Services including, Taxi, Car hire and Car Rentals, cruises, Air Travel, train and
shuttle services

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b. Entertainment at various spots
c. Travel Agency Consultations
d. Accommodation
e. Financial Services and facilities for exchange of money and card payments
There are the indirect contribution the visitor’s economy plays in the economy of Victoria,
Australia including the employee’s compensation in the entire visitors’ economy supply chain
like hotel employees, services providers, suppliers of food to the hotels and entertainment joints
and the various places of interaction with the visitors.
There is also induced contribution which contributes to growth of the Financial Institutions, the
construction and housing industry and the health sector, thus the benefit of the Visitors Economy
contributes to the very many sectors of the economy of this economy and not just tourism
A graph revealing approximate visitors International, Regional and Domestic in Victoria
Australia
Year (x) 2014 2015 2016 2017 2018 2019 2020 2021 2022
Number of Visitors
( in Millions) (y)
200 300 400 500 600 700 800 900 1000

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12/1/1899
12/1/1905
12/1/1911
12/1/1917
12/1/1923
12/1/1929
12/1/1935
12/1/1941
12/1/1947
12/1/1953
12/1/1959
12/1/1965
12/1/1971
12/1/1977
12/1/1983
12/1/1989
12/1/1995
12/1/2001
12/1/2007
12/1/2013
12/1/2019
0
200
400
600
800
1000
1200
1400
1600
1800
2000
No. Of Visitors
No. Of Visitors
Current Needs and Demands of the Visitors Economy in Victoria, Australia
The Visitors Economy has seen a growth and increase in the use of the internet including the use
of search engines, social media, digital marketing to search for information about the place to
visit, look for pictorial evidence, security issues and even to their bookings. The use of mobile
phones for navigation is also on the increase. New visitors also rely on word of mouth from the
previous customer experience; such information is readily available on the various social media
platforms.
Future Needs and Trends of the Visitors Economy in Victoria, Australia
The future needs and trend that the government of Victoria Australia to watch out for now and in
the future;

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a. Single Travel- Travelling for holiday is normally seen as a family affair. Currently even
married people with family are more into travelling for holiday alone and this trend is increasing
at a very rapid rate
b. Environmental Conscious Visitors - So many visitors are well informed before they make
decisions on the destinations of travel, they normally get concerned about the environment and
how the government of their choice travel destination is making an effort to conserve the
environment. Hence our organization is going to take up on this need and construct Victoria Eco
Hotel near Great Ocean Road, which apart from fulfilling this need to environmentally conscious
visitors will also contribute greatly to the development of the visitors economy
c. Business Work Holiday - Taking advantage of work travel to also holiday and relax, where
one is travelling for work and also decides to extend and make merry in their free time from
work
Current issues facing the Visitors Economy in Victoria, Australia
There are various issues currently facing the visitors Economy in Victoria, Australia, like low
international visitors coming to Victoria as their choice of destination. There is a very low
awareness of the local experiences and locals are not aware what is near them and how they can
experience such benefits locally and still with the local residents, mostly prefer to go out of
Victoria and fly out of the country rather than explore and experience what the country has to
offer. There is also low investment in this area of the visitor’s economy (Higgins, Omer and
Phillips 2015, p. 674)

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The Future of the Visitors Economy In Victoria, Australia
The visitor’s economy will continue to be a very key economic driver for victoria. Victoria is
well known for its different multicultural history, unique and well known sporting activities, very
beautiful scenery and a welcoming lifestyle. The Visitors Economy in Victoria has done so well
in the past years and the government of Victoria, Australia is very committed to grow this sector
and increase the number of visitors both locally and from other countries
b. Idea Generation
The idea is Construction of Victoria ECO Hotel. Why Eco Hotel, the reason is that the visitors
economy is now finding itself under threat as a result of heightened awareness by visitors on the
impact this sector is causing to the environment and as a result having an impact on climate
change. From the research we now have environmental conscious Visitors - So many visitors are
well informed before they make decisions on the destinations of travel, they normally get
concerned about the environment and how the government of their choice travel destination is
making an effort to conserve the environment. Hence our organization is going to take up on this
need and construct Victoria Eco Hotel near Great Ocean Road, which apart from fulfilling this
need to environmentally conscious visitors will also contribute greatly to the development of the
visitor’s economy
Target Market Analysis
From the research and the current need of an ever increasing number of environmental conscious
visitors and the need to protect the environment, as a result of increased awareness and
dissemination of climatic change and the impact the visitors economy has on the environment,
Visitors now believe that it’s the role of the visitors economy players in Victoria to incorporate

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the changes needed to protect the environment. So many visitors are willing to support and even
pay extra to the players in the visitor’s economy market who can adopt environment friendly
packages and procedures in their operations.
Visitors Economy
Although there are various players in the Visitors Economy in Victoria, in the Victoria Eco Hotel
construction project , the main area of focus will be upon environmental protection, conservation
and sustainability, talk about going green. . This will support the visitor’s economy as evidenced
from
a. Research evidenced based of ever increasing environmental conscious customers which has
been growing at an annual rate of 20% pa
b. Environmental Conscious Visitors now believe that it’s the role of the visitors economy
players in Victoria to incorporate the changes needed to protect the environment. So many
visitors are willing to support and even pay extra to the players in the visitor’s economy market
who can adopt environment friendly packages and procedures in their operations. Hence have
economic benefits for the visitor’s economy in victoria
Victoria Eco Hotel
Victoria Eco Hotel concentration will be environmentally sustainable. This hotel will be taking
advantage of the increasing legislation about environmental conservation and this can actually
lead to government supporting the construction through financial support and will also get the
support from the community who will also benefit from such initiative through conservation of
the environment and more employment opportunities. Within this strategic management plan