Independent hotel: – Hotel that are run and managed by itself. The best way to fight with the recession is to increase share of the hotel in the market. Jost says the winners in the social media world will be those companies who encourage guests to talk about them online, who are able to listen to all of these conversations effectively, who respond in time and who at the end of the day are able to promote their business not in spite of all these reviews and posts but because of their good reputation everyone is talking about. Hire entrepreneur who invent new idea as live in accommodation for the general staff in order to increase efficiency. Practice, practice, practice. Hotel industry is getting shirked because of the depression in the spending power of the consumers and decrease in the room occupancy in the all hotel. Customers can book the hotels anytime at any place, you don’t need to visit around in the new city and book a hotel. By creating loyalty to a particular group of the company so that these company will be the first to see the offers and add on provided by the hotel group. Weaknesses of Sheraton Hong Kong Hotel Lack of choices for limo services, for example lack of luxury car for choices. Do you have a 2:1 degree or higher? WEAKNESS or negative parts of the hotel/entrepreneurship are listed down. Strategy is about making choices and weakness are the areas where a company can improve using SWOT analysis and build on its competitive advantage and strategic positioning. In the context of SWOT analysis, weaknesses are competitive disadvantages in the current environment. The key is that you take a look at the four main areas - strengths, weaknesses, opportunities, and threats - and see how they stack up for the proposed project. Strategy is about making choices and weakness are the areas where a company can improve using SWOT analysis and build on … For example, at TrustYou, we offer free guest satisfaction tools to capture feedback and our technology gathers and comprehends what the customer is saying in 20 different languages across all social media channels worldwide. You can integrate trustworthy reviews and the TrustScore – the global sentiment of all travelers around the world - onto your site to convince your customers with the feedback of others. Locally present:-chain based hotel industries main customer base is outside the community where the hotel is present. Weaknesses of Sheraton Hong Kong Hotel Lack of choices for limo services, for example lack of luxury car for choices. In short, business growth occur only when for the independent hotel industries when there is proper synchronisation between ownership, firms characteristics , strategic decision made. Various company also decreasing the number of business trip by its executive in order to cost cutting so that respective company can survive in the recession. The throughout environmental scan is divided into two parts:-. However, the extent to which multiples have taken market share and will continue to grow at the expense of smaller operators is more questionable. Weakness of Hyatt Hotels – Internal Strategic Factors . Webster (1998) states that “strategic management plays the most important role in the growth of the independent hotel industries”. Limited market share inspite of good brand recall. Internet:-Internet is the most cost effective and way to reach the potential users .here opportunity is equal for the chained hotel as well as independent hotel. Low levels of skills and education, working conditions etc. transportation services. Now we see a trend: ‘what can we do with user reviews?’ We believe there is a tremendous opportunity for hotels to generate trustworthy ratings and reviews for their own properties and brands. You do not need a long list of weaknesses. Hotel located at Tsim Sha Tsui, it is center of Hong Kong, many shopping complexes and near Hong Kong Space Museum, Cultural Center, and major corporate offices. […] Comments. STRENGTH OPPORTUNITIES WEAKNESS THREATS 3. The following are illustrative examples. To identify those driving force is the most compact and critical part for the surviving in the slow time of the industry. Weakness are the areas where Host Hotels & Resorts can improve upon. If you aren't well versed in your examples and your stories, you may forget it or sound ingenuine. TrustYou was selected as Accor’s social media partner back in January for 3,300+ of its properties worldwide to help them gain customer specific-insights about their properties. (source: Mintel company data), To some extent, the evidence-represented by the growth of multiples, especially in the fast-food and accommodation sectors over recent decades – is incontrovertible. Now they are in a unique position to react and respond in time to everything that is being said about each individual property and their brands. This limits the demographics that can be marketed to these premium experiences. Positive and negative point of the entering into the hotel industry at the particular time, Where is the geographical structure of the area, population breakup of the area, Resistance while entering into the competition for example -a hotel is going to open in the oxford city and the normal rent for 24 hours in that area is 50 pounds, so till the point that hotel is not going to enhance the services provided or lower the rents, the success of hotel is not guaranteed. Furthermore, there are also a number of international names in the market which meet the needs of international tourists on their visit to India. ratio of the hotel to the customer, importance of the services i.e. According to UNWTO, in 2011 international tourist grew by 4.4% to 980 million, and in 2012, international tourism is expected to reach one billion. That is simply out of the price range of the average household today. Let’s use an example of a weakness for the Server candidate that matches our job offer. There is so much information out there across so many sites, in so many languages, that it is becoming difficult for these travel companies to decipher what is and how to use the information advantage. Jost, who believes that 2012 will be data-driven and laser-focused on the customer, and the industry will start to see innovations in the “area listening”, spoke to EyeforTravel’s Ritesh Gupta about data analytics in the travel sector, the maturity level of social intelligence and other related issues. Hotel owner should maintain warm and service oriented people. *You can also browse our support articles here >. The winners in the social media world will be those companies who understand to encourage guests to talk about them online, who are able to listen to all of these conversations effectively, who respond in time and who at the end of the day are able to promote their business not in spite of all these reviews and posts but because of their good reputation everyone is talking about. Fast changing world gives many challenges to the hotel industries. Each weakness is an opportunity to improve from your current performance. Although strategic decisions are important but if the other critical factors are absent:-, Small hotels marketing is more distinctive than acknowledged, Incorporation of the quality management with the operation and financial identity of the independent hotels. Independent hotel need to be a good active part of society as a result society will advertise that hotel in return. There are more than 1000 classified hotels with a room availability of around 97,000 rooms which can easily cope with the demand of tourists. One more factor involve in this very much as change in the market distribution. Strengths. Our academic experts are ready and waiting to assist with any writing project you may have. Sometimes per night staying rates of hotels are out of the reach of ordinary household families. Tourism companies are making their base to the all countries as a result customer demands their known hotel to the other country as well. This is a classic example of the over-dependence of the hotel industry on external factors. The first step to a SWOT analysis of hotel industry in India will be identifying its strengths. Analysis of the competitor shows the growth of the competitor hotels and their approaches, strategy, available hotels and their specific services in the particular ares, breakup of the fixed cost, and trends of the competitor hotels. The hotels are constructed to provide visitors meals provisions, asylum but beside this some big hotels do provide bar, entertainment , casino, tour and travels, swimming pool facilities etc. In the travel sector, one of the great challenges with social media data is the breadth of information available. According to the strategy maps (book by HBS press) if an entrepreneur cannot measure the growth, you cannot hold it. Even though you may be brilliant at getting people to meet the goals you've established for them, some weaknesses can make you seem less effective. The major hotel chains simply do not have the bandwidth to market to these locally based audiences. Weakness are the areas where Hyatt Hotels can improve upon. 80+ SWOT Analysis Templates; 52+ SWOT Analysis Samples; A SWOT analysis is an important part of developing a strategic plan and as such, there will always be an emphasized time for analyzing the strength, weakness, opportunity, and threat during the company’s strategic planning process.. Running a hotel too can involve a SWOT analysis. Task - The principal gave me a warning. A sense of increase in the luxury, Implementation of the latest technology for the measurement or human convinces. Any hotel, retail store and relevant business can be opened in two ways: –. Weaknesses. Weakness are the areas where Host Hotels & Resorts can improve upon. Direct sale:- sale people always comes to meet their target as there is great demand for the respective hotel but if the demand is not appropriate in that case ROI falls for the sale representative . The following are examples of threats that might be used in risk identification or swot analysis. As a result more pressure on the hotel industries to cut cost and increase profit. You do not need a long list of weaknesses. A key area of knowledge e.g. The weather in the local area is the deciding factor for whether someone chooses to stay at a certain hotel. Evaluate performance – why is it happening? Can you cite an example how a business benefited by identifying key influencers, and understood how social media conversations affect business results? There are more than 1000 classified hotels with a room availability of around 97,000 rooms which can easily cope with the demand of tourists. Historically hotels are used for many functions, serving for business purposes, for social activities, for public assembly, for political purposes, for vacations, and for permanent residences. One more method SWOT (Strength, Weakness, opportunity, threat) analysis is an important part of the strategic planning model. VAT Registration No: 842417633. Buyers choice, buyers number in that area i.e. The travel industry should focus on achieving the circle of trust by deepening the relationship with consumers and becoming a trusted resource. The Positive side is this that -Independent hotel have less content, as a result they can keep updating their site as soon as possible than the chain hotels. Chained hotel: – when there are a numbers of hotel with the same brand name around the globe and all hotel possess same name and identical features. What do you think are still the major challenges when it comes to making progress with social media data? Travel is global and growing. In that scenario, an independent hotel industry needs to fix a database for the potential businesses and contact them for the hotel usage. This includes anything that can prevent you from reaching goals in the context of constraints and competition. A threat combined with a weakness is a risk. Business weaknesses are competitive disadvantages that prevent an organization from outcompeting, creating value and achieving efficiency. According to the porter, following five points are key point of the analysis of the complete market for planning, business development, making business development, analyse the competitors. Days inventory is high compare to the competitors – making the company raise more capital to invest in the channel. No 24-hours services e.g. Bob Bailey, partner, Baker Tilly said: “It is predicted by forty percent of European hotel executives that more than five hotel chains will go into insolvency in the coming year, Following are the way to fight with the slowing in the economy:-. Strengths. Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. With this, it becomes a breeze to learn all about hotel strength and weaknesses, as well as what opportunities and threats are out there. The interviewer will want to see if … E-commerce is the main player of the hotel industry and hospitality industry. 25 Examples of Weaknesses to Use at a Job Interview [List of ‘Good' Weaknesses] What are ‘good' weaknesses for a job interview? This SWOT of the hotel industry is just an example to help get you started. IN-DEPTH: There is a ‘big data’ revolution underway in the travel and hospitality industry. More travel businesses are embracing technologies that gather, organise and understand online consumer sentiment, says Benjamin Jost, CEO and co-founder of TrustYou. In the last 10 years there was a trend to say ‘what can we do against user reviews?’. Tourism Registered in England and Wales: 2505735. You'll notice straight away that some of the weaknesses were also in the list of strengths. Looking for a flexible role? Do you know how to answer what are your weaknesses? At TrustYou, we have developed a semantic technology platform specifically designed for the travel industry. The success of the hotel industries depends upon the forces that will get changed by synchronisation with the world. I’ve been striving to improve in this area by checking in with myself at regular intervals and giving myself a chance to refocusing on the bigger picture. If you find yourself in a situation where the interviewer asks you “What are your strengths and weaknesses at the same time, make sure to always start with your weaknesses and end with your strengths. If you need assistance with writing your essay, our professional essay writing service is here to help! Renewal of services and those services get liked by the customer who are experiencing the same hotel second time as expectation keeps growing with the time. As mentioned, the Internet is the preferred communication and marketing medium for all of these important customer segments. More travel businesses are embracing technologies that gather, organise and understand online consumer sentiment. Set its own name and create its own brand name. What do you think the roles and responsibilities of this job are? How are travel businesses currently tracking how they are engaging with customers and guests online? transportation services. Customers always expect “responsive” policies in terms of the facilities and services given to them. Reuters Events is part of Reuters News & Media Ltd, 5 Canada Square, Canary Wharf, London, E14 5AQ. High seasonal dependency for most parts of the sector. This Factor including the reputation of the brand incurred in the market in that geographical area, type of the hotel i.e. Do you know how to answer what are your weaknesses? This way independent market strategy can be set up its own term and condition for all the policy. The weaknesses of the hotel brand include late entry into the global market, also known as globalization, and differences in operations from country to country. Scroll on to learn more and to get your own hotel SWOT analysis template from our list. Here are the weaknesses of the hotels and resorts industry. It may have many other hotels by the same name at the different location but it does not allow other proprietor to use its brand name, For example -Burj al Arab(Dubai),white swan inn inyorkshire,42 the calls in Yorkshire etc. hotels do provide all the customized furnished household that make relax travellers or visitors. For example, a forecast for rain is a threat to your hair and a lack of an umbrella is a weakness, the two combined are a risk. In order to accomplish this, the travel industry needs to listen to what the consumer is saying by encouraging the customers to write about them. Employees and their stabilization with the same hotel: – as employees increase their time with the same hotel, they expect increment in the salary but as salaries of the employees get high then cost also gets increase as a result profit decreased. It has more than three thousand seven hundred and fifty hotels in eighty four countries worldwide. THREATS: -changes in the external factor which causes the harm to the firm or hotel is known as threats. SWOT Analysis Example for Delightful Dog Grooming. NYBanker says: November 21, 2011 at 5:14 am Very comprehensive post. Opportunities for the Hotel Industry . Excerpts: What do you make of developments pertaining to data analytics in the travel sector at this stage? When you write your script, keep in mind a few additional tips: Don’t list multiple, vague strengths. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. For example – A change in the regulation of the hotel or firm. 7th Jul 2017 Only business executives and rich people could afford thousands of dollars per night. You may wonder why. The ultimate list of weaknesses. This is what the SWOT analysis is able to provide for hotels and any other business. Free resources to assist you with your university studies! Purpose: to create a marketing action plan. Study for free with our range of university lectures! Clearly gaining an information advantage about guest preferences and conversations from the Internet is going to give travel companies more opportunities to market and seek out opportunities. This refers to the positive traits, both tangible and intangible, that are … Remember this is only part of a good answer for the what are your weaknesses question. We believe there is a ‘big data’ revolution underway in the travel and hospitality industry. It is critical to recognise that a different and significant range of the management concern in the small hotel industries. Travel companies that have a social marketing strategy will definitely gain the information advantage. The hotel chain currently has around 1.2 million rooms and plans to expand it by another 1,95,000. The challenge, particularly faced by global hoteliers with thousands of managers, pertains to monitoring conversations in various languages. Example – Case study(Hospitality e-business strategy), Key Customer Segments: Number of Searches on Major Search Engines in 07/08. Let's find your TOP 3 WEAKNESSES together below! Legislative’s change and implementation in the particular area change in the fashion with the change in time. EXTERNAL ANALYSIS: -OPPORTUNITY may reveal the certain new opportunity for the great increase in the profit percentage of the hotel. Specially , the role played of the marketing ;quality section of the management ;importance and implementation of the information technology; the relationship between the business strategy and small independent hotel; business planning and growth ; and entrepreneurship. More travel businesses are embracing technologies that gather, organise and understand online consumer sentiment, says Benjamin Jost, CEO and co-founder of TrustYou. Hilton hotel has many hotels’ brands distributed all over the world. For example-Bad location of the hotel, high cost structure, poor reputation etc. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. LIMITATION AND THE CHALLANGES OF THE HOTEL INDUSTRIES: –, The controls to monitor progress so that corrective actions can be implemented as and when. More factor involve in this arena in 2011 job offer of rooms to market to these premium experiences thousand hundred... Be used in risk identification or SWOT analysis: – hotel that are and. Strategies for connecting with their consumers in a proactive way sometimes per night staying rates of hotels ; it been! 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