Part A) The New Zealand hospitality industry faces many challenges, including but not limited to; labour, competition and profit margins. Identify three major challenges that you think are important to the success of New Zealand hospitality businesses- define and describe the challenges using data from the sources listed below. New Zealand’s hospitality industry has many challenges to overcome, which I have mentioned in this essay. This industry is one of the main contributing industries to the New Zealand economy (Statistics New Zealand, 2013). In this essay I will identify three major challenges, which I think are important to providing a successful hospitality business. I will describe and define these challenges and use data that I have This can be paid to the worker by wages or salaries (Conn, 2009). I think labour costs is a major challenge for a hospitality business. If you can manage to keep your labour costs low and have it not negatively affect your service or product then you may save a lot of money. In the Restaurant Association New Zealand (RANZ) report 60.8 percent of businesses said that labour costs is one of the biggest challenges that a hospitality business has to address. The labour cost in 2012 was 61 percent for a hospitality business (RANZ, 2013). The reason why it was so high is because it is essential for running a hospitality business. Labour cost will always be a challenge for a Managers and owners need to understand that they need to build a loyal customer base so they can maintain sales. Customer satisfaction should be a focus you the understanding manager. Rishi and Gaur (2012), stated that offering guest superior service over competitors is a great business ethic (Rishi & Gaur, 2012). This will create customer satisfaction and also sales. Managers and owners need to understand that it is not all about profit. The key is to maintain that income by creating customer
- Marketing is one of the main issues in the company because its not being used properly to take full advantage to help increase sales.
Without good customer service and keeping your promises, your company would have loyal customers. According to 5 Focusing Steps, “If you’re not yet sold on the idea, consider that a 2 percent increase in customer retention has the same effect as decreasing costs by 10 percent. Not only that, but it costs over six times more to get a new customer than it does to keep one.” Customer satisfaction should be a golden rule of all companies.
Focus on the needs of the customer and put the needs of the employee second, follow by the need of the leader as the last so to develop and grow the relationship of the customers while strengthening the
The sample represents all U.S. regions and several different hotel location types, including city (47.7%), suburb (15.2%), airport (15.2%), and resort (21.9%). The total data presented here are from hotel managers (N = 98) and hourly employees (N=66) who completed a baseline survey followed by daily diary telephone interviews for eight consecutive days.
The economic theory of supply and demand dictates that an excess of supply (hotels) to demand (customers) leads to a lower price consumers are willing to pay. This creates inelasticity within hotel pricing and places substantial pressure on management to meet the pricing needs of customers while providing an attractive and unique service. Hotel services are also intangible in nature, placing increased burden on hotel owners to utilise all available rooms through discounts and deals.
Traditionally, the hotel industry has catered to the lodging, dining and other amenities of travellers or guests. The industry operates across the different value chain by offering services and facilities as per the preferences and paying capacity of guests’. Typically, players in this industry own assets and or franchise their brands or manage third party assets. The hotel business is highly capital intensive but at the same time highly competitive, this is due to the presence of a large number of players across the different value chain. The industry being highly regional in nature, the hotel business is directly impacted by overall economic or business activity and tourist movement
There has been a direct finding that service recovery has a very strong correlation and positive relationship with customer satisfaction. This is an especially strong “wake-up” call for those in the hospitality industry to recognise that service recovery is a form of competitive strategy. Research by John Fleming and Jim Asplund indicates that engaged customers gives 1.7 times more revenue than disengaged customers and engaged customers returns a revenue gain of 3.4 times the average revenue (Brown 2007) . The understanding that future market share growth and profitability can be attributable to successful service recovery and customer satisfaction must implemented will future drive business strategies
The Hospitality and Tourism sector is characterized as the fastest growing sector in Jamaica. Many tourists from all over the world travel each year because of the country’s beaches, culture, climate and landscape. Despite the contribution of other sectors the Hospitality and Tourism is still the giant industry that contributes largely to Jamaica market share. In this paper, we will call the Hotel that I am employed ‘Hotel A’ for privacy reasons. Hotel A was formed in 1981and has developed to be one of the largest all-inclusive resorts in the country, tackling all factors that impact on its overall success. Some of these factors are political, economic, social, technological environmental and legal factors called the PESTEL framework. “A
The hospitality industry in the UK is connected a wide and diverse industries with many organizations inside the sector from sole traders to large cooperation and multinational companies. The industry has continued to grow on a great scale and it exit simultaneously with tourism and leisure services. The United Kingdom is the world’s 8th largest destination, with 32 million visiting 2013. $17.2 billion was consumed in the UK foreign tourists ("contemporary hospitality industry - Yahoo Video Search Results", 2016). Nightclubs essentially provide a place to listen to music and dance for an entrance fee. Drink and food are made available at additional service. Travel agent; Hotel/Motel Manager; Event Planner and Facilities Manager. According to Ruggless (2016) referred to the turnover rate in “the hospitality segment in 2015 rose to 72.1%, up from 66.7% in 2014, according to a recent Bureau of Labor Statistics report. The industry contributes about 3.6% to UK GDP. In the UK multiple business sector are including such as; food and beverage business, accommodation services, transportation, activities/entertainment, shopping and supporting services. The industry needs to identify people’s distinct needs and offer appropriate services and food to adapt those needs. In the UK there are over 180,000 hospitality and leisure endeavors employs over 2
From a food and beverage manager's perspective - What are the important characteristics and procedures of a food and beverage establishment in relation to its size, type, market, design, planning and organization?
“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.
Customer satisfaction is a key ingredient to the success of any business.It is the most important factor that creates repeated customers. Some people know it but do not realize its importance. If a customer of yours is satisfied with one of your products or services, chances are this customer will purchase more of your products or services, which will increase your revenue. Therefore, in order to have your new or existing customers buy more from you, you will have to follow techniques that work. Customer satisfaction takes a very important place in Marketing. As much as you think that your marketing strategies should help you generate sales, think about how the same marketing strategies could help you achieve Customer satisfaction. There are a lot of elements involved with Customer satisfaction.
For this assignment I have carried out a job study for the Hotel Management industry.
My name is Adetoun Oyewole – I am currently studying HND Hospitality Management. The purpose of this assignment is to bring out my personal development skills; which will lead me to professional development. This assignment will also enable me to focus on my personal skills that will lead me to success.
In the 21st century they consist of various barriers that prevent managers and leaders from achieving their goals and improving their organizations work. Managers constantly try tackle this issues that drive towards lowering productivity. Challenges of management include :