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Individual Report on Hospitality Industry
Pages 20 (5020 words)
Individual Report Table of Contents Table of Contents 2 1.0Introduction 3 2.0 Hospitality Industry 4 3.0 Relation between Business Environment and Hospitality Industry 5 3.1 External Business Environment and Its Impact on Hotel Business 6 PESTEL Analysis 6 Competitive Environment 13 3.2 Internal Business Environment and Its Impact on Hotel Business 17 SWOT Analysis 19 4.0 Discussion about Responses of Internal and External Environment on Westin Grand Hotel in Munich 20 5.0 Conclusion 24 6.0 References 26 1.0 Introduction Hospitality industry is a very significant constituent of the service sector and is a vital element for a country’s national economy.
Hospitality industry is categorised by place bound industry, where the individuals and the visitors obtain goods and services in the same place. Therefore, hospitality industry confronts with numerous challenges in the business environment. Factors such as flexible income, vacation time and travel enthusiasm of people among others can determine the success and development of hospitality industry. Tourists travel for several purposes. The travel drives of tourist impact the approach of travelling and selecting the destinations. Pleasure travellers search for cultural and entertaining enjoyment, while business travellers conduct business or join in international conferences in foreign countries through travel. There are several business environmental factors which can impact on the travellers’ decision to fly in a certain country, thus can impact on the hospitality industry’s profitability and performance (Yu, 1999). ...
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