The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany - Assignment Example

Comments (1) Cite this document
Summary
This report will describe the impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany. The opening of the report consists of the background information about hospitality industry and relation between business environment and hospitality industry…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.6% of users find it useful
The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany
Read TextPreview

Extract of sample "The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany"

Download file to see previous pages This paper illustrates that hospitality industry is a very significant constituent of the service sector and is a vital element for a country’s national economy. The hospitality industry is frequently defined as an unseen export because it does not usually include tangible delivery of goods, rather than movement of people. Tourists come into hotels from numerous places of world in order to obtain service and experience generosity. 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. The recent financial crisis had impacted on global hospitality industry. In the year 2011, as the demand for travel increased, the hospitality industry had restored. ...
It is expected that the business environment will develop in upcoming years. Luxury and full service hotels are recovering rapidly because of reappearance of business tourists, mostly in urban markets (Ernst & Young, 2011). Travel is one of the significant habits of people’s life in Germany. For tourists, Germany is considered as a place with one of the most developed infrastructures in terms of hospitality business, and it has good cultural resources along with environmental stability. Therefore, the hospitality system in Germany provides supreme travelling experience for national as well as international guests. In present days, the customers seek for convenience while selecting any hotel, such as environment, hotel background and service style among others. Customers, make their decisions about choosing hotels on the basis of affordability, dependability, impressiveness and specialty. As a consequence, hotels competing on low-cost, brand name, enterprise and exceptional services can succeed in the hospitality industry of Germany. In the year 2008, the hospitality industry generated revenue of almost 55.5 billion Euros. In comparison with other countries the average rate of hotels in Germany was much competitive (Germen Business Portal, 2008). The recent economic crisis had affected the hotel industry in Germany. In the year 2009, total number of overnight spending had reduced by 0.1% to 0.2%. In comparison with industrial hospitality performance at that period of time, the performance of German hotels was much better. Due to economic recession in the year 2009, the cost of hotels in Germany had also decreased, but in 2010, the room rates had raised by 2%. With respect to hotel room rate, Germany ranked as 14 among top 22 significant tourism ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The impact of business environment on hospitality industry of Westin Assignment”, n.d.)
Retrieved from https://studentshare.org/business/1394334-the-impact-of-business-environment-on-hospitality-industry-of-westin-grand-hotel-situated-in-munich-of-germany
(The Impact of Business Environment on Hospitality Industry of Westin Assignment)
https://studentshare.org/business/1394334-the-impact-of-business-environment-on-hospitality-industry-of-westin-grand-hotel-situated-in-munich-of-germany.
“The Impact of Business Environment on Hospitality Industry of Westin Assignment”, n.d. https://studentshare.org/business/1394334-the-impact-of-business-environment-on-hospitality-industry-of-westin-grand-hotel-situated-in-munich-of-germany.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
cs
cschamberger added comment 9 days ago
Student rated this paper as
The topic of "The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany" is quite often seen among the tasks in university. Still, this document opens a brand new perspective of seeing the question. I’ll use the manner for my own example.

CHECK THESE SAMPLES OF The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany

Grand Hotel Scarborough

...?Grand Hotel Scarborough: A Victorian Marvel The Victorian Era is de d as the period between 1837 and 1901 when the United Kingdom was ruled by Queen Victoria (Watkin, 2007). This period is known for the improvement in the prosperity and living standards of the British public besides producing some of the greatest inventions and discoveries ever known to mankind. Queen Victoria’s reign is also recognized for the development of a unique style of architecture and construction that exists to this day through many notable buildings and monuments (Gray, 2006). One such symbol of Victorian influences and architecture that has captured the admiration of the whole world is the Grant Hotel...
4 Pages(1000 words)Essay

The Westin Bayshore Hotel Vancouver

.... Kandampully, J. & Suhartanto, D. (2000). Customer loyalty in the hotel industry: The role of customer satisfaction and image. International Journal of Contemporary Hotel Management, 12(6), pp. 346-351. Kim, H. & Kim, W.G. (2005). The relationship between brand equity and firms’ performance in luxury hotels and chain restaurants. Tourism Management, 26(4), pp. 549-560. Westin Hotels and Resorts. (2012). The Westin Bayshore, Vancouver. Retrieved on April 21, 2012 from...
3 Pages(750 words)Essay

Global Business (Germany Industry)

...? Global Business (garment industry) Introduction Global business consists of transactions devised and done across national borders so as to enjoy economies of scale and increased market for products. This involves importation and exportation of products including foreign direct investment of which are highly interrelated. A key tenet to global business is delivery of value and satisfaction (Dunning, 2011). Companies involved in these transactions face various environmental factors including constraints and conflicts with laws and cultures of the world. Businesses that venture into global transactions have to modify their applications, complexity and intensity in the way they operate to be able to cop up with challenges brought... up in the...
5 Pages(1250 words)Essay

MGM Grand Hotel Industry

...? Analysis of the MGM Grand Las Vegas Hotel Table of Contents Introduction 2 History 2 Strategy 3 Market position 4 Compensation and Recognition Programs 5 Key Employee Behaviors 6 KSA required achieving organization’s objectives 6 Technology Considerations 8 Legal Environment 8 Recommendations 9 Conclusion 9 References 11 Introduction Hotel industry is such an industry that has extreme competition. The growth of the hotel industry’s market share comes at the expense of the competitor (Martinez, 2005). The competition in the United States is pretty high in the hotel industry. In this report an HR analysis is done of MGM Grand Las Vegas Hotel. MGM Grand Hotel is situated on Las Vegas Strip in Nevada and is one of the largest hotels... at...
8 Pages(2000 words)Term Paper

Hotel and Hospitality industry: The Angelus Hotel

...competitive market the world-over, in the hotel and hospitality industry. ii. The looming threat of terrorism creates security concerns in the minds of the prospective visitor. So, he tries to avoid the visit at times owing to the level of threat perception and travel advisory from respective governments. 1. Angelus Hotel started its operations since September 1999. It is part of an International hotel group called Saint Emilton Hotel Group (SEHG). Since the hotel is having 40 hotels in its portfolio in Europe and Far East, therefore it can be safely assumed that the group is experienced enough in...
7 Pages(1750 words)Case Study

The Environment and the Hospitality Industry

...and which have threatened the hospitality industry. These issues mostly impact on the profitability of the industry and its related businesses. This paper shall consider environmental issues, including global warming and pollution – issues which are impacting on the hospitality industry. It shall also present a critique of appropriate literature which relate to this issue. This paper is being carried out in order to establish a clear and comprehensive understanding of the subject matter, as well as the pertinent issues which relate to its application. Discussion There are various issues which are...
10 Pages(2500 words)Essay

External Environment of Hospitality Industry

...to the hospitality industry (Shim, pp. 41-42, 2011). In such an uncertain economic climate, either majority of the people have cancelled or cut back on their trips, are avoiding the premium options and pushing more, and more for economic deals. The bargaining power of customers has greatly increased as they find themselves strapped for cash and looking for the highest value for their money. Staggering unemployment, high inflation and decreasing investor confidence have also put a lid on the growth of the business of many hotel chains (Conrady & Buck, pp. 88-89, 2011). Furthermore, with fluctuating exchange rates, hotel chains spread in many countries...
4 Pages(1000 words)Essay

Hospitality industry

...TOURISM By Location 3 Define the terms “Tourist” and “Tourism” Tourist A tourist is an individual travelling and visiting places for pleasure and vacation. Tourists visit places for sightseeing, relax on the beaches, mountain climbing, experiencing other people’s cultures, etc. Tourism Tourism is the commercial organization and operations of holidays, vacations and visits to places of interest and relaxation. It can also be defined as the business of providing entertainment, restaurants and hotels, etc. for persons travelling. Domestic Tourism Domestic tourism is the act of residents of a country moving only within the same country (Page 2011). The holiday or vacation is in the same country that one...
4 Pages(1000 words)Essay

Hospitality Industry and Environment Forces

... Environment Forces’ Influence on the Hospitality Industry Environmental forces have a big impact on the hospitality industry. Similar to other sectors of the economy, political influence affects the hospitality industry. Government policies on taxation, for example, determine how much visiting tourists can shop. Policies on taxation also affect the supply of support services and goods to the hospitality industry. Political instability in a region or country also affects the hospitality industry. Tourists shy away from regions and countries prone to conflicts, for instance, hence affecting performance in the hospitality industry. In addition, diplomatic relations among governments have diverse effects on the hospitality industry... . A...
1 Pages(250 words)Essay

Hotel industry

...HOTEL Introduction A hotel refers to a service industry that deals in a variety of foodstuffs, fixes them for s and charges a fee for the foods given to their clients. Reputable hotels are very successful in both their businesses and expansion. Such hotels exists in the world over, the most renowned for particular foodstuffs include; McDonalds, chicken inn, Java house, and Starbucks just to name a few. This paper aims to critically analyze the hotel service industry business in light of the profits realized, the organization structure as well as the success for expansion and customer...
2 Pages(500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany for FREE!

Contact Us