Commissioned by business partners Mr. Raphael Jones and Mr. Peter De Souza, report's authors have been sought in order to assess market opportunities as well as liabilities for partners' business Golden Palace Hotel given current situation.
Founded two years ago, Golden Palace Hotel is located on Fulham Road…
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2. 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 Golden Hotel Palace directly) assessment of which authors' findings and recommendations are based.
Given clients' particular request of an assessment of external business environment's implications for Golden Palace Hotel, 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's customers, typically business men 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 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 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 investment in hotel's IT infrastructure and online business strategy, Golden Palace Hotel lags a long way behind given current practices in hospitality business world over (AllBuisness 2001), let
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