Golden Palace Hotel: Market Positioning - Assignment Example

Human resources management. Golden Palace Hotel is understaffed during high seasons and some departments/areas (reception in particular) require full-time as well as well-trained and experienced staff. In present circumstances, Mr. Jones and Mr. De Souza are particularly interested in external business factors (more likely to impact the Golden Hotel Palace directly) assessment of which authors' findings and recommendations are based. Given clients' particular requests for an assessment of the external business environment's implications for Golden Palace Hotel, the current report mainly scans Golden Palace's market positioning considering political, social and cultural givens.

Given Golden Palace Hotel's location on Fulham Road - a 3-minute walk from South Kensington underground station, a major asset in terms of accessibility (Department for transport 2009) - Golden Palace Hotel enjoys a strategic market location, one well situated close to London's most promising business and shopping hubs. This is particularly convenient for hotel customers, typically businessmen and women, whose busy schedules limit mobility options. Additionally, Fulham Road's serene culture (Streetsensation n.d.) makes Golden Palace Hotel especially well suited for a businessperson's hectic schedule during evenings and particularly for attractions and entertainments in the surrounding area (e.g. Kensington Gardens, Hyde Park, Kensington museums, Harrods and Harvey Nichols).

Golden Palace Hotel's plan of facility expansion and additional amnesties for current and potential customers is both a sound and forward-looking business strategy. Given unprecedented falling property prices (Stevenson 2009) as a result of the current economic and financial global crisis, Golden Palace Hotel has a major opportunity in investing in asset values. Further, planned gyms and swimming pools cater particularly to a growing influx of young Chinese and American visitors. The antique and collectible allure of Fulham Road is, moreover, a viable future opportunity for market segment expansion into one, basically young American and Chinese visitors, who both seek 'safe areas' for stay and 'valuable gifts' to take back home.

Considering the investment in the hotel's IT infrastructure and online business strategy, Golden Palace Hotel lags a long way behind given current practices in the hospitality business world over (AllBuisness 2001).