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Business Operations Hospitality

Essay by   •  January 5, 2011  •  665 Words (3 Pages)  •  1,282 Views

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Visit Based Assessment

The Grand Hyatt Hong Kong Hotel was chosen for discussion. It is located at Wan Chai in Hong Kong, which is a commercial district besides the Hong Kong Victoria Harbour. It has been providing service for nearly 30 years in Hong Kong. It is a five-star hotel with 556 guest rooms and suites, 26 meeting rooms and it is now considered to be the best hotel in Hong Kong. (http://hongkong.grand.hyatt.com/)

1)

The key internal factors which affect the Grand Hyatt Hong Kong hotel are Sales, Marketing mix elements, Financial aspects, R&D and Staffing.

Sales are the total sales of the hotel; the market share price which is affected by the total sales; the hotel’s location which is in a commercial district, therefore, it is mainly used for business meetings and banquets; the culture of Hong Kong, which means there will be a different customer trend from England.

Marketing mix elements are the pricing strategies; how they set their price depends mainly on the Hong Kong citizens’ CPI and holidays, the land price, the service and facilities they can provide, their branding and the hotel running cost; the products, which is the hotel’s service and facilities provided as well as the hotel’s decoration and branding, the range of rooms that are available and quality; the advertisement, which there are types of method they use to advertise their hotel and through which media.

Financial Aspects are the hotel’s profits, margins, cash flow, cost structure, asset structure, debt structure and capital investment levels.

R&D is the hotel’s planning systems which relates to the hotel’s marketing research, current company and marketing objectives, current strategies and tactics, control and budgeting systems, and the effectiveness and efficiency of the hotel’s planning system.

Staffing is the overall company and marketing organization structures, if it is an effective organization structure and with effective staff who have responsibilities, authority, skills and are experienced. Also, the co-ordination between departments.

(Lancaster, G., & Massingham, L., (1998), Kortler, P., Armstrong, G., Saunders, J., Wong, V. (2002))

The key external factors which affect the Grand Hyatt Hong Kong hotel are Political, Economic, Cultural, Technological, Competitors and Customers.

Political are the local government’s (Hong Kong government) regulatory constraints, legal, taxation and patent law to their citizens and investors. These will affect the cost, running system of the hotel and hotel building.

Economic are the area’s inflation and unemployment conditions, currency stability, exchange rates, interest rates

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