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Travelodge: The Rise And Fall Of The Icehotel

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Bergqvist limits risk by taking into consideration of what they can afford to lose enabling him to successfully grow his business. By taking advantage of opportunities around him and employing his skills and creativity, Bergqvist did not see that the cost of constructing exhibition or the Icehotel would have any financial burden on him. When Bergqvist first built his exhibition hall, he did not expect that the weather would suddenly destroy his ice art. Rather than preserving something natural, Bergqvist decided that he could make something new when the pieces are destroyed. This clearly shows how Bergqvist did not fear about the loss that nature had caused but to turn that loss into an opportunity. As what they made new later was the Icehotel. By using the skills that Bergqvist learnt during his ice …show more content…

With only 25% of the market and as much as £1bn in debt. Financial restructuring, revamping of hotel rooms, developing its internet presence, rent reduction are only a few business strategy of what Travelodge have in consideration to increase its market share to maximise returns in order to shed of debt by 2017 (Thomas, 2012). By injecting £75m of cash by new owners in 2012 were a part of the financial restructuring plan. £55m will be used to refurbish 175 of its older hotels. The plan will aid Travelodge to a stronger position ensuring a long term and sustainable future for the business. CEO of Travelodge, Grant Hearn, claimed that this will significantly reduce its debt, interest costs and lease liabilities providing its staff, suppliers, landlords and developers greater securities. As Travelodge currently has 456 hotels in UK and 11 hotels in Ireland proper strategic planning, market research and competitive analysis is key towards the survival of

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