External Environments Whih Impact the Hotel Industry

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Recommended: review of literature on hotel industry

The hotel industry is by far one of the biggest business industries known to man in this era. The businesses of this industry are affected by many factors. The businesses environmental factors in external factors are demographic, economic, global, political, sociocultural and technological.

“The objective of this phase is to identify events and or future trends that will affect the hotel industry over the next five years. Also, the impact that those events and trends will have on your business in terms of cost and revenue changes and the timing of the impact.” (Fedele, 2010) For each of the external environment, it is also to identify what will affect the performance of the business.

Economic impacts our hotel industry by paying taxes, by accommodate rooms and by giving jobs to people. The revenue we get from our suppliers, employees, partners and guests gave us a huge effect on our hotel economics and supports our society. It prompts our expenses, providing good jobs, develops great business opportunity in practically all categories and benefits our society to succeed.

With the modern technological world today, the hotel industry has come up with room keys, which are distributed at the electronic check-in terminals, where patrons are able to see the hotel’s resident robot keep their valise. Soundproofed rooms have powered, portable bed to save space and they can activate the air conditioning by motion sensors. Besides that, the hotel industry has no longer room numbers at their room door. Patrons are able to pinpoint and open their rooms with their mobile device that uses digital recognition technology to open up their doors.

Politics within a hotel industry involves the newcomers’ wisdom of the formal work and informal work ...

... middle of paper ...

...online] Available at: http://www.hotel-online.com/Trends/PanAmerProceedingsMay99/PolRiskInvestHotels.html [Accessed: 6 Nov 2013]

Hotelmule.com, 2013. Social and cultural influences on hospitality consumer behaviour - Hotelmule - Hospitality and Tourism Industry Portal. [online] Available at: http://www.hotelmule.com/html/15/n-615-2.html [Accessed: 4 Nov 2013]

Pal, P., 2013. What is Socio-cultural Environment? | Business Studies | Knowledge Hub. [online] Available at: http://www.publishyourarticles.net/knowledge-hub/business-studies/what-is-socio-cultural-environment.html [Accessed: 4 Nov 2013]

Research Methodology, 2013. Hilton Hotels PESTEL Analysis. [online] Available at: http://research-methodology.net/hilton-hotels-pestel-analysis/#Legal_Factors [Accessed: 5 Nov 2013]

The Global Hospitality Industry, 2010. [e-book] : BPP Learning Media. [Accessed: 4 Nov 2013]

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