Managing change, small hotel development Essay Example | Topics and Well Written Essays - 500 words

Managing change, small hotel development - Essay vitrineyear 2020 is 5 years away hence, considering the analyses that has been conducted on the Sea Front Hotel, the chances of development over the future(a) five years force out be assessed. One of the greatest strengths of the hotel is that it is not mired in either form of debt. As a result, in spite of the global financial fluctuations that occur, it can be give tongue to that the financial risks of any global economic downturn in the next five years al grim for have little effect. However, the hotel lacks an online presence and it still uses conentional methods of communication. It has to be noted that nearly all successful businesses, curiously those in the hospitality industry like Sea Front Hotel, make use of the internet as an essential selling tool (Dudovskiy, 2015). The hotel cannot only rely on increased consumer spending because they argon not assured that they will spend their money on an unknown hotel, due to it s poor marketing strategy.In the face of argument over the next five years, the hotel is likely to achieve minimal development, because of its poor marketing plan. In addition, it has a limited customer base and needs to diversify. Due to the growth of the economy, its development chances can be sustained at the moment but not increased as it cannot rely on the national economy to develop. The chances of development for the Sea Front Hotel over the next 5 years are deem. Due to its favourable location setting, the hotel should be flocking with customers at the moment, but that is not the case.At the moment, it should be having a medium profit margin because it has a cheap source of supplies from the local area due to heightened competition among the suppliers. The cheap sources function as a financial cover, coupled with its lack of debts. However, its profit margins are low at the moment, something that the management should be planning to improve. The changes that can be implemen ted to improve this is the use of a cheap source of power, wind power, due to its