External Factors Of Radisson Royal Hotel

The PEST analysis helps to explain the critical factors in the organization's external environment. The factors include political, economic, social and technological. For Myer, these forces combine with the internal factors, and other external factors like competition. The Australian consumer goods retail market is worth $121 billion (IBISWorld, 2012) but is heavily fragmented. Myer is the third-largest company in the industry behind David Jones and Harvey Norman, but with $3.158 billion in sales holds just 2.6% market share (Myer 2011 Annual Report). This implies that competition is only one of many factors that can contribute to the company's results. This PEST analysis will help to identify the other major factors.

In this report, we will be concentrating on Millennial hotels - hotels that target Millennials or have a Millennial-liked mindset. We will discuss the factors, specifically revolving around the marketing mix, that are likely to affect the success of Millennial hotels.

Political - Political environment is a key factor, as it affects not just hotels but hospitality as whole. Government is currently working on simplifying Chinese and Russian visas and reducing tourism VAT, which would attract more people into the country. The Savoy is luxury hotel and room prices are not cheap, rates starts at £400 per night. With reduced VAT and simplified visas more tourists’ would visit country, due to hotels supreme location hotel stands a good chance on attracting more guests.

In Bangkok, Thailand, a group of financial investors invested in a hotel called The Regency Grand Hotel. This hotel is the most cherished hotel in town, where the employees and guests enjoy spending time at this five-star hotel. This place hosts approximate 700 employees that give fantastic benefits, year-end bonuses and ensures job security.

This report will be providing a detailed analysis of the existing Budget Hotel market, and how to improve the competiveness of the Travelodge UK, the second largest Budget Hotel chain in the United Kingdom, Second Premier Inn. This report will contain the following, a profile of the organisation’s current target market, which will include demographic, psychographic, geographic and behavioural variables. That will then be followed by a well-referenced and well-researched PEST analysis that will highlight the most important and relevant factors that could have an impact on the business. Once the pest analysis has been completed, the report will be concluded by recommended changes to the marketing

Since the stakeholders revokes their contract with Regale Properties whose strategy is to host the city’s festival as marketing strategy to launch the hotel product offerings into the market and prefer moving into franchise with Marriott for best reasons known to them. The decision problem becomes “How do we better position and market the hotel product offerings into the mature competitive market?” To better define the problem at hand, we need to identify key decision elements surrounding the problem such as:

As we discussed in class, every business is faced with these issues and they are important to managers making strategic decisions. One of the first things learned about business is that if there is no demand for a good or service, the firm that provides it will not continue to exist. Over time the hotel industry has continued to change with market conditions and make itself attractive to business

Macro environment comprises external forces that organisation cannot directly control, instead organisation need to manage their macro environment in a way that benefits them ("The Macro Environment & Pest Analysis", 2016). The PESTLE analysis is the most widely recognized approach for considering the external business environment (Gupta, 2013). PESTLE analysis stands for Political, Economic, Social, and Technological, Legal and environmental analysis and describe a framework of macro environmental factors utilized as a part of the environmental scanning component of strategic management. Generally, all the PESTLE factors might not important for all types of industry its depends up industry nature or size. This PESTLE analysis is based on Accor Hotels in Australia which is a famous and globally recognise hospitality brand.

For a long time researchers are trying to find the perfect recipe for success, however it is very hard to predict the response of the market to a new product and its adaptation to the environment. The Ice Hotel and the Travelodge are two ventures established in the end of 20th century both in the travel and hospitality sector but each one with its own unique business strategy. In evaluation of their success the decisions made throughout the development of the above mentioned ventures can be categorized as effectual and causal, as explained by Sarasvathy (2010). G.Sanvikarja suggests that causational logic is more rational and based on prediction where as the effectual strategy is more creative and is control orientated. Each of these approaches implies different strategies and reasoning behind both individual decisions and responsiveness to the environment. Furthermore, most enterprises follow a set of common principles that are key for building a business strategy including defining means, setting affordable loss, leveraging contingencies and forming partnerships (S. et. al, 2010). These four aspects are crucial for understanding how is a business created and what is its approach. However, it should be noted that most of the businesses are not strictly effectual or causal, rather a mixture of both with a tilt towards one. Every business is individual and should be treated like one. This paper will examine the business strategies behind the Ice Hotel and the

The main objective of the company is not only to attract but also to retain staff who are interested to work in the hotel business for the five-star level of high service, taking into account the wishes of clients, and which offers an innovative, dynamic environment and reflects the culture of the local country. To achieve this, Hyatt strives to be a company listening to well-informed and concerned people. Hyatt provides plenty of opportunities at all levels for their employees, which are accompanied by numerous development

The Economic conditions challenge the hotel to achieve business and profit margins. Due to the economic crisis, it is becoming difficult for the hotel to maintain Ionian Hotel Enterprises S.A. brand as a lesser amount of capital given to run the operation.

Having just analyzed the general environment surrounding the upscale and luxury hotel industry, the next step in determining whether such an industry is attractive or not is to conduct an in depth external analysis of the threats and opportunities facing the industry. Thanks to the help of Michael Porter and his Five Forces Model, this analysis is not nearly as difficult or as time consuming as it may seem. According to Porter, there are five forces which determine the competitive intensity and therefore attractiveness of a market. These forces include the threat of entry, the threat of rivalry, the threat of substitutes, the threat of buyers,

However, for the Courthouse Hotel it is important to pay attention to their strengths and future opportunities, which are outlined in the table above. Opportunities and threats originate, mainly, in the external environment; therefore managers have only limited influence on them (Hughes, 2006). However, by looking at a SWOT analysis change agents and managers will be able to formulate a vision, considering both, strong and weak, points of their business. The industry in which the Courthouse Hotel operates is highly competitive and the data in the table above is only a fraction of what managers have to consider when conducting a PEST or SWOT analysis.

The organization has explicitly kept this advantageous environment over other organizations by improving its service capacity. Additionally, the organization ensures that it stays ahead of its rivals by engaging in research and development that focuses on luxury products and markets analysis. The Ritz-Carlton hotel uses data from its research to predict the future of the industry; therefore able to dictate what and how the market will trend in the foreseeable future. Another factor that keeps the organization’s advantage over its rivals is that while rivals tend to become a hotel brand in the industry, Ritz-Carlton has rather position itself to be a leader and lifestyle brand that constantly develop new properties and ensure that customers live the culture of the hotel. The final factor that has kept the advantage of the organization intact is the culture of trust that exists between the management and employees. The leadership of the hotel lives and communicates the organization’s value to its employees who in turn satisfy customers in a way that they often anticipate a return visit. These are some of the reasons that the Ritz-Carlton hotel continued advantageous environment over its rivals has persisted in the hotel and resort industry (Reiss,

In this case, the operating environment for Elite Hotel run in Azerbaijan is like that it is a newly independent republic country which formerly part of the Soviet Union and situated between Iran and Turkey. It is a lowly economic developed country but recently Western oil companies are looking for inward investment in the