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POSITION REPORT ON INTERNATIONAL CHAIN HOTEL HYATT, SYDNEY

MGT802

Description of the report: Analysing the financial and economic condition of the hotel Hyatt along with effective initialisation strategies that could improve the competitive strength and efficiency of the hotel has been the main subject matter of this report 

Executive Summary

In the era of globalization, it is the utmost need to ensure customer satisfaction and employee protection in an organization. The motto to make the customers feel homely has helped Hyatt in providing an enriching experience to their customers, asset base enlargement and brand value development have made the company reach the zenith and has also helped in reaching the top rank among the peer's groups. The economic growth and GDP increase have reflected the positive side of the hotel's industry and the significant contribution of Hyatt in eth revenue enhancement and GDP growth has also been reflected well from this report. Lastly, improvement in the customer problem-solving approach and market share enhancement through KPIS has been stated in this report.

1.0: Introduction

Meeting the needs of the guests, desirable hospitality treatment and enriching the experience of the consumers who are visiting the hotel aims to improve the financial condition of an organization. Enjoying the flexibility in service and better hospitality needed in this era for attracting more consumers have created the background for this research. Exploring the opportunities available for improving hospitality treatment and improving the satisfaction level of the customers has been the main aim of the report. Identification of loopholes as seen in Hyatt hotel and later showcasing the improved steps improvisation has created a scope for reaching the aim easily. In this report, the opportunities that could enhance the market share by improving the issues have been the main area of focus here. 

2.0: Overview of Hyatt hotel 

Located adjacent to the Darling harbor the hotel Hyatt is the haven for relaxation and place for leisure and business traveler. 892 guestrooms, 3700 square meters area for events and conferences and three dining experiences form the main area of the hotel (expedia.co.in, 2019). Valet parking, 24-hour service and front desk, car rentals and relaxed dining experience with the views of the harbor along with evening canapés adds the uniqueness to the hotel.


                                       Figure 1: Revenue and profit graph of Hyatt
                                       (Source: annualreports.com, 2017)
 
The last four years revenue and profit show that the profit of the company has reduced from $ 344 to $ 249, which reflects the inefficiency of the company in managing the customer's specifications and demand (tripadvisor.in, 2019). Increase in sales states that although the company has been able to enhance the revenue increasing expense in holding the revenue amount has reduced the amount of profit.

3.0: Analysis and findings

3.1: Exploring the financial and economic condition of Hyatt

Porter’s five forces

The threat for the new entrants

The economies of scale make it quite difficult to be achieved in the industry within which the hotel operates. Threats for new entrants become possible because the cost advantage for producing larger base is possible in this type of industry (Stindt et al. 2017).  The huge expenditure on research and advertising reduces the threat of the entry of new entrants and helps in ensuring efficiency.  
Bargaining power of the suppliers

The number of suppliers is more as compared to buyers so the bargaining power of the suppliers is much lower as compared to the buyers. Keeping the prices low and providing reasonable pricing helps the suppliers in retaining their relations with the hotels. Suppliers and hotel relationship is very strong and there exist lesser threats from the suppliers (Aithal, 2017). 

Bargaining power of buyers

Again in this context product differentiation has been the utmost need for retaining the customers. As the number of hotels and buyers both are huge so the switchovers can be very common in this industry. Price sensitive issues and quality improvement needs to be given priority in this industry. 

The threat of substitute products

More expensive and not so good quality provided by the other substitutes reduces the urge for shifting to the substitutes thereby making the revue and profit of the hotel more secure and safe. Better quality and innovation brought in the hotel could reduce the threat of the substitutes easily within the hotel industry (Wang & Zhang, 2015).

Rivalry among the existing companies

Intense competition exists in the industry due to a larger number of hotels existing in the country. Higher fixed cost and lower involvement in the competitive policy-making process could reduce the hold of the hotel. Therefore, innovation and creativity or rather making the service unique, needs to be introduced, so that a hotel could maintain long term sustainability, in the market.

 

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