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Challenges Ahead for Global Hospitality Industry - Research Paper Example

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The author of the current paper states that Travelodge is the pioneering budget hotel brand in the UK which started its operations in the year 1985 and since then it has 330 hotels and 20,000 rooms under its operations, which is expected to go up to 70,000 by the year 2020…
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Challenges Ahead for Global Hospitality Industry
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Download file to see previous pages This shows that the low-cost business model which the company has been following has been successful in connecting with the customer. Testimony to this fact Travelodge has ranked the number one budget hotel brand and its site the number one travel site for the UK. (Travelodge Announces Results for Year Ending 31st December 2007, March 2008)
The proposed mission statement signifies the key focus areas for Travelodge. First of all the focus is on quality. If the quality service is provided, customers will move towards the brand and if they are satisfied they should stay with the brand. Being a hotel chain and operating in the hospitality industry, offering a hospitable service is crucial. How welcome the customers feel or the degree of hospitality being bestowed upon the customers, once they are inside the hotel would decide the success for the Travelodge brand in the long run. Again offering these services at prices which are affordable for a wide section of the consumers would ensure that the brand is well accepted by a broad section of the socio-economic segment. Making its services accessible to a huge customer base through the use of IT and making the brand approachable for the target customer is also pertinent to its ultimate success. In the context of a prevailing downturn in the global economy, Travelodge has ample opportunity to expand its business taking the opportunity of the fact, that both business and general consumers are looking at cutting travel costs and therefore are prepared for accepting a brand which offers them value for money services. Travelodge’s proper focus on quality hospitality at prices which are not prohibitive and reachable by an extensive section would play key roles in it achieving its business objective.
Due to the economic slowdown the global hospitality and tourism industry has been facing a downturn over the last 2 years. Companies and general consumers alike are cutting their business travels and pleasure trips, owing to their falling disposable incomes. This scenario has affected the tourism and hospitality industry as a whole in a negative way. ...Download file to see next pagesRead More
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