The industry is divided into many sectors, and much work will be involved in it. Its properties include luxury, boutiques, suites, and apartment hotels as well as resorts.
There is some evidence that terrorists are targeting hotels and other tourist sites; in June39 people, including tourists, were killed at a hotel beach in Tunisia. Currently, Marriott operates around 4, hotels in 79 countries and territories.
Even guests prefer the hotels which are embedded with technology. Being a business hotel, there needs to be a variety of options which can be availed. Additionally, the demand for both national and inbound tourists can easily be managed as the peak season. The government charges great amount of tax on the luxury and star category of hotels.
This analysis will assess the impact of the political, economic, social, technological, and legal factors on the industry. All of the hotel industries earn a great revenue. Economic Factors Economic factors include many factors such as taxation changes, inflation, economic growth, interest rates and exchange rates.
In every country, hotel has to follow age law. With the increasing number of guests, services provided also needs to be luxurious and good. Technology helps to reduce the work effort and enhances the results.
The economy of India has faced minimal drop because of financial system and controlled status in country.
The biggest effect of this is the tapering off of business travel, which Marriott is heavily dependent upon. All the capital states or province of every country, own wide number of tourists arriving for the purpose of conferences, workshops, business dealing and another sole purpose.
Increased international tensions and the rise of aggressive new terrorist organizations such as ISIS make such events likely in the future. A potential long-term environmental impact on Marriott could include increased electricity costs created by efforts to curb greenhouse gases by limiting the burning of coal in power plants.
One major potential threat Airbnb poses to traditional hotel companies is its hosts can avoid expenses such as hotel taxes and fire regulations, which means they have much lower operating costs. The hotel industry covers a significant number of organizations with a variety of services such as food services, assistance, and accommodation facilities.
Environmental Factors Environmental and weather changes have a direct impact on many hotel industries. For international tourists, arrival is between September and March, while most national tourists prefer to wait until school holidays, which are during the summer months.
Based on the application of these factors in the global context the economic environment cannot be assessed as more favorable for the development and growth of the industry.
Weaknesses Next in line is assessing the weaknesses. The Future of Marriott. That enables Airbnb hosts to undercut hotel room rates in many markets. So that is why researchers have created PESTEL analysis helping to know the external factors which affect hotel industry.
The hotel industry does not demand or create any factors which would affect their credibility. Social and environmental part play a significant role equally in strategic management.
The tourism and hotel business have been severely hit by the recessionary tendency all over the world. The Government also becomes flexible during this time and allows to think about society.
Political Factors That Could Affect Marriott The major political factors that could affect Marriott are the danger of terrorism, international relations and the political climate in popular tourist destinations. So technology is a great external factor which would affect hotel industry.
The country boasts a number of attractions and has unmatchable diverse topography making it an ideal destination for tourists.
Last year, there have been many changes made which affected behavior of firm. Another concern is that Airbnb hosts do not pay lodging taxes, which are a major source of revenue for some municipalities. Interestingly enough, Australians spent the most on travel: SWOT analysis of hotel industry in this regard can provide a thorough insight to whether or not the industry is contributing towards the achievement of its goals.
Political Factors The political factors play a major role especially in the economy of the country. As a result, the number of inbound tourists is expected to increase at a quick rate, further pushing the demand for hotels.
The state Government has to take huge decisions which will support the growth of industry.In strategic planning, external analysis of hospitality industry has been done with the use of PESTLE analysis and Porter's 5 (five) forces in defining the strategy, making decisions on allocating resources to pursue the strategy.
Hospitality Industry Pestel Analysis March 7, By Abhijeet Pratap Filed Under: Marketing, pestel If any of the industries is really too susceptible to the environmental factors then it is the hospitality industry.
SWOT analysis of hotel industry in this regard can provide a thorough insight to whether or not the industry is contributing towards the achievement of its goals. For now, let’s consider the hotel industry in India, which is one of the fastest growing in the world.
The major political factors that could affect Marriott are the danger of terrorism, international relations and the political climate in popular tourist destinations. The biggest threat here is a terrorist attack or a military conflict that could disrupt international air travel or frighten people away from traveling.
Analysis for hotel industry is the best and modern way to find factors which affect it. Social and environmental part play a significant role equally in strategic management.
However, economic factors are divided into legal factors. PESTLE Analysis of Hospitality Industry Essay The PESTLE analysis is related to the assessment of the external environment in which the industry is functioning.
This analysis will assess the impact of the political, economic, social, technological, and legal factors on the industry.Download