A strategic plan can also serve as a benchmark, allowing you to evaluate your progress toward your goals.
How does it apply to the hotel industry? The primary reason to perform this analysis is to help a hotel be able to develop a strong business strategy. A good strategy depends on knowing what of business strength happens to be, what the weaknesses of that business are, and how those weaknesses can be turned into a natural advantage.
SWOT stands for strengths, weaknesses, opportunities, and threats. A new business should always use this type of analysis as part of their overall planning process. There is no cookie-cutter plans that will work for your business. By taking into account the SWOT information that is available, a strategy for success can be formed and then reviewed annually at a minimum.
What Are the Strengths of the Hotel Industry? The hotel industry provides people with a safe place to stay when they are away from home. From the boutique hotel to the international brand, granting the people who stay there a chance to relax prepare for a business function let everyone be able to enjoy their time away from home as much as possible.
Hotels also are a major contributor to the local economy. There might be major tourist attractions that bring people into a community, but is the hotel that has allowed people to stay there.
When people stay locally, they consume goods and services locally. They will go to local restaurants, shop at local stores, and those dollars stay within the community. What Are the Weaknesses of the Hotel Industry? The primary weakness of this particular industry is its cost.
Upper-level hotels can charge thousands of dollars per night per room.
That is simply out of the price range of the average household today. This limits the demographics that can be marketed to these premium experiences.
There are lower cost hotels that exist throughout the world, but lower costs will typically bring about lower services at a lower standard of maintenance. The hotel industry also faces a unique tax structure in most communities. Many rooms have a specific tax that is charged per night when they are booked.
What Are the Opportunities of the Hotel Industry? Every community has a specific set of attractions that make it a tempting place to visit.10 # © IDC FIGURE 5 Huawei and Going Green: A SWOT Analysis Source: IDC, FUTURE OUTLOOK The outlook for Huawei, based on this SWOT and previous IDC analysis, is that of an organization that is .
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SWOT Analysis Essay.
policies in trade, agriculture, and other economic markets. Although the majority of the nations in Europe have chosen to join the European Union, some such as Switzerland have declined in favor of .
Going Green in business 25/07/ by Mike Morrison Leave a Comment Increasingly organisations are looking at increasing their ‘green credentials’, but all too often the usual factors of buying recycled products is often the limit. The SWOT analysis is the chance to really dig deeper into the foundations of any business, not just the hotel business.
It’s a chance for the executive team to start looking at the successes and the challenges that their business faces on a daily basis. PESTLE-SWOT Analysis Submitted 4 years 6 months ago by Emily Benson. PESTLE-SWOT refers to the combination of the PESTLE (Political, Economic, Social, Technological, Legal and Environmental) and SWOT (Strengths, Weaknesses, Opportunities and Threats) analyses.