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    Pest Analysis For Hotel Business

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    Christine Nathalie Balmes
    This document analyzes the political, economic, socio-cultural, and technological factors that impact the hotel industry. Politically, government regulations and policies around tourism as well as security threats can influence the industry. Economically, recessions, inflation, exchange rates, and rising global expenditures are important factors. Socio-culturally, trends toward more travel fueled by social media and rising incomes are expanding demand. Technologically, hotels now offer amenities like WiFi, security cameras, online booking, and customer reviews.

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    Pest Analysis For Hotel Business

    Uploaded by

    Christine Nathalie Balmes
    195 views2 pages
    This document analyzes the political, economic, socio-cultural, and technological factors that impact the hotel industry. Politically, government regulations and policies around tourism as well as security threats can influence the industry. Economically, recessions, inflation, exchange rates, and rising global expenditures are important factors. Socio-culturally, trends toward more travel fueled by social media and rising incomes are expanding demand. Technologically, hotels now offer amenities like WiFi, security cameras, online booking, and customer reviews.

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    PEST ANALYSIS

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    This document analyzes the political, economic, socio-cultural, and technological factors that impact the hotel industry. Politically, government regulations and policies around tourism as well as security threats can influence the industry. Economically, recessions, inflation, exchange rates, and rising global expenditures are important factors. Socio-culturally, trends toward more travel fueled by social media and rising incomes are expanding demand. Technologically, hotels now offer amenities like WiFi, security cameras, online booking, and customer reviews.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    195 views2 pages

    Pest Analysis For Hotel Business

    Uploaded by

    Christine Nathalie Balmes
    This document analyzes the political, economic, socio-cultural, and technological factors that impact the hotel industry. Politically, government regulations and policies around tourism as well as security threats can influence the industry. Economically, recessions, inflation, exchange rates, and rising global expenditures are important factors. Socio-culturally, trends toward more travel fueled by social media and rising incomes are expanding demand. Technologically, hotels now offer amenities like WiFi, security cameras, online booking, and customer reviews.

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    Christine Nathalie M.

    Balmes BSA 3-1

    PEST ANALYSIS FOR HOTEL BUSINESS

    Political Factors

    The hotel industry regardless of the country is largely dependent on the tourism
    industry, which is bounded might as well on the government regulations. Because of this, the
    more open a government is to the tourism laws, the larger the amount of tax it withdraws from
    the hotel industry. In areas that are under political strife, hotel businesses, especially the small
    ones, performs poorly. However, most of the world is now free for travelers and thus the hotel
    industry is facing a massive boom. Many countries are still carrying out policies that benefit
    their hotel industry. But a recent factor that has posed as a threat to this industry is terrorist
    attacks in high profile hotels. This is something that world governments must pay immediate
    attention to. Otherwise, open borders and a welcoming political nature helps the growth of the
    hotel industry.

    Economic Factors

    Any major economic change drastically affects the hotel industry. A big prominent
    part of this industry is composed of luxury hotels. Recessions, inflations, and other economic
    fallouts severely affect the ability of the people to afford hotels with higher cost. But at the
    same time, they also lead to a higher demand for budget hotels. Foreign exchange rates are
    another economic factor that affects the ability of foreign travelers to employ hotel services.
    However, the global expenditure scale is on a rise and more people are being able to travel
    and make use of the hotel industry. Developing countries must concentrate on growing their
    budget hotel industry to welcome more foreign guests and expand their economy.
    Socio-cultural Factors

    The current generation has shown a strong trend towards traveling, which is fueled
    by social media platforms, where people are able to exchange their experiences and thereby
    create peer pressure to travel. This added to the rising expenditure capabilities in ensuring
    that a wider class of people is able to use the hotel industry. This will further grow in the future
    leading to even more demand for hotels. Hotels are also becoming more accepting of different
    classes of people and are ensuring they are better equipped to serve the necessities. Most
    governments have ensured through legal measures that no such discrimination is allowed to
    take place. Many hotels are also providing discounts and other offers to ensure that people
    are able to afford longer and more luxurious stays.

    Technological Factors

    Hotels have become more and more technology-friendly in this generation. Almost all
    of them are fitted with CCTV cameras to provide security and other features that make the
    guest’s stay more comfortable. Wifi services, lifts, intercoms, etc. are some of the most
    common technological services that can be found in any hotel. Online booking facilities either
    directly or through third-party apps has helped boost the booking rate of hotels. Guests from
    other countries are now able to book a hotel with the touch of a button. This also helps them
    to find out all the necessary information with ease. The ability of guests to write reviews has
    also ensured that hotels provide better services and no act of discrimination takes place.

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