Investigation of Current Performance in Inverleith Hotel (B&B) Edinburg - Assignment Example

Investigation of Current Performance and How It Could Be Improved - Case Study: Inverleith Hotel (B&B) Edinburgh Table of Contents Introduction 3 SWOT analysis 3 Strengths 4 Weaknesses 4 Opportunities 5 Threats 5 Objectives of Inverleith Hotel (B&B) 5 Responsibilities of Inverleith Hotel (B&B) 6 Liabilities and Managerial Skills of Owners and Managers 6 Analysis the Comparisons between Two B & B Hotel within the Same Geographic Area in England 6 Recommendations to Overcome the Weaknesses 7 Analysis the Way in Which the Current Performance of Inverleith Hotel (B&B) Can Be Maintained and Strengthen 9 Recommendations for the Expansion of the Business in the New Areas 10 Conclusion 10 Self-Evaluation 12 References 13 Introduction A bed and breakfast (B&B) hotel provides lodging as well as food services. B&B hotel business is identified to be offering accommodation services and provides breakfast preferably for the guests. In England, B&B hotel service plays an important role for providing accommodation and food services to the guests. B&B hotels have developed to a large extent and are also identified as a significant contributor for the economic growth of the nation (Hyde & Meyer, 2015). In this context, the paper intends to explain about the current performance of (B&B) hotel in England as well as how the performance of the hotel can be improved. Additionally, a SWOT analysis of the hotel has been conducted with the aim of understanding strengths, weaknesses, opportunities and threats of Inverleith Hotel (B&B) located in Edinburgh, which is a B&B hotel. A comparison is also made between the hotel with other similar size B&B hotels in the same geographical area. Alternatively, it also intends to explain about the methods through which the current performance of the hotel can be maintained properly and the possible solutions for the expansion of the business. SWOT analysis In order to determine strengths, weaknesses, opportunities and threats of Inverleith Hotel (B&B), a SWOT analysis has been conducted. In this respect, the strengths as well as weaknesses of the hotel can be determined. The possible opportunities related to the success and development of the hotel can also be ascertained. After identifying the weaknesses and threats, the hotel can reduce the weakness by applying new strategies to improve the performance of the hotel (Practical Entrepreneurship, n.d.). Strengths The hotel is one of the leading fast food hotels in England. The hotel focuses on the preferences of the customers, which is one of the important strength of the hotel. This strength helps the hotel to attract the more customers to increase the sale as well as increase the profit of the hotel. It also helps to improve the performance of the employees so that the objectives of the hotel can be accomplished. It has multiple numbers of customers in the market. The financial growth of the hotel has increased to a substantial extent. The geographical area of the hotel is good for marketing or doing business. The facilities provided by the hotel are based on quality standards and in accordance with the needs of the customers. The rooms of the hotel are equipped with modern equipment like telephone and broadband access and with self-catering accommodation (Practical Entrepreneurship, n.d.). Weaknesses Along with several strengths, the hotel has various weaknesses also. These weaknesses are related to the visibility of brand name. The hotel faces the problem of brand name because brand name plays the vital role to expand the business in other areas and attract customers. The numbers of rooms are limited and therefore, the volume of sale is also limited. Hence, the hotel cannot make more profit, which is also affecting the brand name of the hotel to a certain extent (Practical Entrepreneurship, n.d.). Opportunities The hotel is still not conscious about the market growth in Enchanted Vineyard. The presence of university in the area also can be an important consideration for increased sale and profitability for the hotel. The location of the hotel is a significant factor for the guests, as the guests are able to have variety food and catering services in the nearby locations (Practical Entrepreneurship, n.d.). Threats There are several competitors in the market such as entrants of new B&B hotels in the area. The new B&B hotels would increase the competition level of the hotel, as the new entrants may setup business with adequate knowledge about market demands and needs of the customers. In this context, the entrance of new B&B hotels in the market creates a major problem in the success of the hotel. The income level of the people is also an essential element to meet the requirements of the guests. If the income level of people has decreased, then it is not possible for the people to buy the products with high price. In this respect, the hotel faces the problem related to the price of the products (Practical Entrepreneurship, n.d.). Objectives of Inverleith Hotel (B&B) The prime objective of Inverleith Hotel (B&B) is to make everyday actions of the customers easier and safer by providing best services by satisfying the demands of the customers. The vision of the hotel is also to focus on the choices as well as requirements of the customers, as the customers are the major aspects for expansion and growth of the hotel (Annual Report, 2014). Responsibilities of Inverleith Hotel (B&B) The responsibilities of the hotel are to provide good as well as best hospitality to the customers in terms of accommodation. In addition, the hotel also facilitates the guests to have self-catering services and are also offered with bar and lounge services (Buchanan & Espeseth, 2015). Liabilities and Managerial Skills of Owners and Managers The operations of the hotel are managed by Adrienne Case and Stephen Case. The owners or managers of the hotel are conscious about their work and also have the basic managerial skills to set the goals as well as achieve the desired goals successfully. The owners of the hotel have the capability to support junior employees related to their work to achieve the objectives of the hotel in an effective manner. The liabilities of the owners and supervisors of the hotel are limited to the value of assets financed in the business (Buchanan & Espeseth, 2015). Analysis the Comparisons between Two B & B Hotel within the Same Geographic Area in England Inverleith Hotel is one of the leading Bed & Breakfast hotels in England. The vision of the hotel is to focus on the demands of the customers to increase the profitability of the same. There are various B&B hotels in the same geographic area and of same size that include Gifford House, Gillis Centre and Arrandale Guest House among others, which can be a problem in the improvement of the performance of the individual hotel. The comparison between Inverleith Hotel (B&B) with others B&Bs in the area provided certain differences in relation to the quality and the differentiations of the products, which are most important for increasing the growth of the business. In this regard, quality and differentiation of the products can be made on the basis of room service, facilities and technology installed (European Commission, n.d.). In addition, the hotel can be differentiated from other B&B hotels in same geographic area in terms of service process provided by the owners of the hotel. The comparison can also be assessed based on the economic impact of the hotel. The comparison as well as differences can also be evaluated between the B&B hotels in the same geographic area based on the strengths as well as weaknesses along with the opportunities for the development of the hotels and threats faced by the competitors. The room services and locations of the hotel are good than the other B&B hotels in the market (Stynes, 2015). The other B&B hotels face lot of problems in the market in terms of catering and room services that include broadband access and food delivery services, as compared to the services offered by Inverleith Hotel (B&B). The other B&B hotels also face the problem of attracting more customers, which is not faced by the hotel. The uses of technology as well as innovative ideas can also be important areas based on which the services of the hotel can be differentiated from other B&B hotels in the area. The frequency of tourists visiting the place and hotel can be other important aspects for the growth as well as development of the hotel as compared to other hotels in the in same geographic area (Stynes, 2015). Recommendations to Overcome the Weaknesses The several weaknesses of the hotel are the brightness of the brand name and the limited expanse of sale due to the limited numbers of room. These weaknesses can be mitigated by applying new as well as innovative strategies for the improvement of the performance of the hotel. By enhancing the leadership abilities of the managers of the hotel can overcome the weaknesses. The owners or managers of the hotel should increase the number of hotel rooms to increase the volume of sale as well as profitability of the hotel (Zenger, 2008). The owners or manager of the hotel should expand the business into other areas to raise the popularity of the hotel and increase the growth of the business. The owners of the company should support and have junior employees, so that they are able to perform as a team to reduce the weaknesses for the future development of the hotel. The owners and managers of the B&B hotel should develop new strategic plan to overcome the weaknesses and expand the business for increasing the popularity of the brand name of the hotel (Leslie, 2009). The managers as well as other employees of the hotel should increase self-consciousness related to the services and enhance the efficiency of the work to reduce the weaknesses of the hotel. The managers of the hotel also should use advanced as well as innovative technology to improve meet the requirements of the guests as demanded in the present day context. The managers also should manage the internal as well as external processes of the hotel to reduce or overcome the weaknesses. The managers should use better method to operate the entire business operations of the hotel to overcome the weaknesses and are facilitated with the market opportunity for better sustainability in the long run (Leslie, 2009). Analysis the Way in Which the Current Performance of Inverleith Hotel (B&B) Can Be Maintained and Strengthen The owners of the hotel can maintain and strengthen the performance of the hotel by improving the hospitality services and providing the best services to the customers. The current performance is quite good for the hotel in terms of future development of the business, because the owners of the hotel are conscious about their work and performance. The managers and the employees always should focus on the demands of the customers and the quality of the products to strengthen their performance and maintain the current performance (Aryee, 2011). The prime aim of the hotel is to provide the best hospitality to the customers for the progress the growth of the business. The services of the hotel involves in the various segments such as accommodation, food and beverages and hospitality service among others. Therefore, to maintain the current performance, the managers of the hotel should enhance the services and manage the entire business operations properly. The managers of the hotel also can maintain as well as strengthen the performance through effective leadership strategy, which is essential for improving the profitability and sustainability (Thornton, 2006). The managers can strengthen the current performance by using advanced technology for the development of the business. By providing the best services as well as good quality products, the managers can also maintain and strengthen the current performance of the hotel. By building a restaurant, managers of the hotel can provide catering facilities to the customers and satisfy the demands of the customers as well as it also increase the growth of the business. By maintaining the overall organizational process, managers can be facilitated with the opportunity of meeting the demand of the guests (East Ayrshire Council, 2014). Recommendations for the Expansion of the Business in the New Areas Inverleith Hotel (B&B) can expand the business in new several areas for increasing the growth of the business. Inverleith Hotel (B&B) is one of the leading hotels in England, which is situated in Edinburgh, United Kingdom. Therefore, the hotel can expand the business in the nearest geographical areas of United Kingdom to increase the popularity of the brand. The hotel also can expand the business in the other countries outside United Kingdom where the entrance can be easily possible and the expenses of the entrance are marginal (Business Plan, 2015). The owners of the hotel should expand the business in new areas based on the demand of the market. It means the owners should expand the business in those areas where the number of competitors is less and where they can easily generate more profit. The owners of the hotel should expand the business in several places of the UK to hold a strong market position in the UK market (Business Plan, 2015).The expansion of the business helps the hotel to make more profit as well as achieve the objectives in an effective way. The owners should conduct surveys of the new markets, which can be beneficial for the expansion of the hotel and after that should transfer the business in other places for better expansion of the B&B hotel business (Geneva, 2010). Conclusion From the above discussion, it can be stated that Inverleith Hotel (B&B) is one of the leading hotels in England, which provide the best services to the customers. The owners and managers of the hotel focus on the demands of the customers to increase the profit and demands of the market to expand the business in new areas. By expanding the business, the owners of the hotel can also increase the economic growth of the business and attain the goals of the hotel in an efficient manner. It has been observed that the managers of the hotel should reduce or overcome the weaknesses and threats for the future development of the hotel. The owners should increase the numbers of rooms and develop a restaurant, so that the profitability of the hotel can be increased. By expanding the business, the hotel can also enhance its attractiveness and accordingly, will be facilitated with the opportunity of raising the brand image of the hotel to a substantial extent. Self-Evaluation From the above study, I have comprehended that B&B hotel business has been running in a competitive as well as sustainable manner for increased demand amid tourists and locals. In addition, the hotel business has been performing operations with better growth prospects for economic progress of the nation and increased demand. In this regard, Inverleith Hotel (B&B) is identified to be a leader in the B&B segment for quality accommodation facilities and food services. The hotel has been performing competitively for the provision of advanced equipped room facilities, breakfast and bar lounge for the guests. Subsequently, conducting a SWOT analysis and a comparison of the hotel with other B&B hotels in the same geographic area and hotel size has provided an immense understanding of the sustainable performance of the hotel. Moreover, the analysis conducted in the paper has also facilitated in having a better understanding about the various aspects based on which the growth as well as development of the hotel can be ascertained. References Annual Report, 2014. B & B Tools. President’s Statement, pp. 1-76. Aryee, S., 2011. Hotel Maintenance Management. Real Estate Management, pp. 1-78. Business Plan, 2015. Bed and Breakfast Business Plan. Coach House Bed and Breakfast. [Online] Available at: http://www.bplans.com/bed_and_breakfast_business_plan/executive_summary_fc.php [Accessed March 5, 2015]. Buchanan, D. R. & Espeseth, D. R., 2015. Developing a Bed & Breakfast Business Plan. College of Agricultural, Consumer and Environmental Sciences, pp. 1-98. East Ayrshire Council, 2014. Housing and Environment Services. Service Plan, pp. 3-29. European Commission, No Date. Classification of Hotel Establishments within the EU. The European Consumer Centres' Network, pp. 2-44. Geneva, 2010. Developments and Challenges in the Hospitality and Tourism Sector. International Labour Organization, pp. 1-115. Hyde, J. & Meyer, S., 2015. Farm-Based Bed & Breakfast. Department of Agricultural Economics and Rural Sociology, pp. 1-4. Leslie, B. J., 2009. The Leadership Gap. Center for Creative Leadership, pp. 1-16. Practical Entrepreneurship, No Date. Marketing Plan. Enchanted Vineyard, pp. 2-15. Stynes, J. D., 2015. Economic Impacts of Tourism. Michigan State University, pp. 1-19. Thornton, G., 2006. Hotel Demand Study. Mayor of London. pp. 1-90. Zenger, J., 2008. Developing Strengths and Weaknesses. Overcoming the Lure of the Wrong Choice, pp. 1-4. Read More