The case study report brings out a discussion on a company that operates within Australia in the hospitality industry. This report has analysed the stay well hospitality group pty ltd. in terms of economic, socio-cultural, and environmental factors. The report also describes the past operations and current operations of the company. The company is a renowned hospitality organisation based in Sydney, Australia (Stay Well, 2019). The discussion carries out an impact and engagement of different tourist, event, and hospitality industry. Further, it analyse the impact of certain trends such as socio- cultural, environmental, and economical. At last, this report summaries some recommendations and have identified some future strategies in order to address the social, economic, environment, and cultural trends (Stay Well, 2019).
Till 2016, StayWell Hospitality Group was Australia`s private owned group founded in 2006. However, in 2017, the group announced a notice of correction to notice of Acquisitions of staywell hospitality group pty ltd. The company is headquartered in Sydney, Western Australia. After acquisition, staywell has announced long-term agreement in order to deliver company`s first park Regis in Western Australia. The company mainly operates with two high profile hotel brands such as Leisure Inn and Park Regis. The company is growing its hotel network and it is numbering other 30 properties across India, Australia, UAE, US, Singapore, and Indonesia. The company provides a wide range of sophisticated corporate services starting from revenue generation with the help of finance, human resources, technology solutions, training, operational management, and asset management. The company has its own in-house legal team, which provides legal services to the group.
The company is currently operating with price hotels and it is one of the largest hotel management in Asia pacific. These two companies together offers a diverse portfolio of certain properties with a combined network of nearly 75 hotels operating worldwide. Every brand offers guest quality experiences that range from luxury lifestyle to midscale. The company has set a strategic goal of delivering 250 hotels ranging from medium to long-scale.
Currently, prince resorts operate in a combined network of 50 hotels, 31 golf courses and other 10 ski resorts. Staywell has a network of 25 open and operating hotels. StayWell has two other strategic partners in the same industries named as Manhatton hotel group as 19 hotels in china and Cristal group in middle east for 11 hotels. stayWell faces challenges in standardising its infrastructure due to the issue of isolation. Although, the company is halfway to achieve its goals by enabling connected business where the company can provide reliable IT system and embrace innovation. The strategy is to enhance customer experience by providing those smart rooms and other innovated technology devices. As the company says, it is mandatory to interact multiple chain based reactions and other chain interactions either external or internal. The company has to adapt with the changing ecosystem. The company claims that it enable connected business environment that would mean greater speed, information flow, leverage, security, and agility for the stakeholders and the company.
The company has to contact with the tech and IT leaders where they face a lot of challenges. Initially, the company have chosen normal business models and tech chiefs where process optimisation and cloud services are necessary to stay competitive.
Mass media has high influence among the Australia`s people. StayWell hospitality group pty ltd can take the advantage in order to position itself among prospects future consumer with the help of higher advertisement. Diversity among religions can affect the spending and buying habit. As staywell hospitality group pty ltd. targets middle and high class people. As per the market analysis, it is observed that 67.9% are within the age group of middle and high-class people who are prime customers. Customers in the Australian market can be easily targeted, as there is a large number of homogenous people. Moreover, it has been observed that there are large number of immigrants that is a good sign of capturing market. Growing and changing preferences of customers shape the tourism and hospitality industry as young and rich people are in favour of personal accommodations (Kim, & Jeong, 2018).
The social aspect of tourism also includes the development of tourism destination but there is always a risk of losing the local culture, loss of identity, lack of natural resources, loss of natural attractiveness, and also lack of education on destination due to dominancy of tourism facilities. Lack of education decreases the quality of services due to lack of general knowledge and insufficient professional development (Kim, & Jeong, 2018). The company have some disadvantage over its tourism-oriented, and conferences and infrastructures for the sake of their long-term image (StayWell, Pty Limited, 2018).
Environmental factors- The Company has its hotel near oceans with a thought to provide sublime experience. The company efforts to create certain environment offices where it is quite expensive because the company will have surface artificially both green and floral area. It becomes difficult for the company to take care of watering and providing irrigation on such lands and protecting them from severe high temperatures. Great care has to be taken into consideration in order to make convention proof from environment. Apart from this, it has been noticed that the focus of the tourists have shifted to ecotourism. UN has identified 2017 as international year of sustainable tourism for development. Other environmental concerns that are important for tourist includes operators that further includes transport operators, restaurant brands, and hotel brand. After managing the ecological impact in order to manage, the waste, other concerns are important for tourism operators (Computerworld, 2018). I. In the lean seasons, when customers or travellers do not flock around the equator due to high temperature. Furthermore, frequent weather changes with soothing environment can attract many customers (Sheehan, Grant, & Garavan, 2018).
Economic trend- the company is exposed to many economic issues such as fluctuation in the exchange rates, recession. Sydney is recognised as a metropolitan Sydney, which is among 16 greater city Statistical Area and is most populous in Australia. Sydney is the economic central attraction that accounts for 20.1% of national GDP. Pacing growth opportunities in the tertiary sector and finally increase in PDI (personal disposable income) can help the company to grow fast (Computerworld, 2018). I. If Australia is facing recession growth of 0.5% with a combination of 2-3% inflation, and an unemployment rate of 5.7% can increase the opportunity for the people around Sydney and other places that which is near to the group of hotels (Kim, Lee, & Fairhurst, 2017). There are various tax concerns that affect the Australian tourism such as tax rate, sales tax, corporate tax of nearly 30%, and progressive taxation system. Situation of home country is always very high as a significant unemployment rate of 5.7% can affect the frequent flyers while decorating the overall lifestyle of Australians and their economic activities Computerworld, 2018).
The company has set a defined strategy in order to grow the portfolio in the next three years to a network of more than 100 hotels in South East Asia, Europe, Australia, and India. The company should start collaborating with the Airlines and engage some of their staff at the Airlines especially when the flight lands in order to attract customers. After conducting, the research in every country where the company has started operating is important as it helps the company to modify its value and culture related to that particular country. Before hiring the employees, the company should conduct interview related to business and hospitality etiquettes and if they find some of traits in any person, the company can treat them future.
Conclusion
From the above discussion, it can be said that staywell hospitality group pty ltd. is exposed to several risk even when it is Australia-based. As in 2019, the company has planned of targeting Asia and pacific countries and also the company can operates in free style of agreements in international trade. The interest rate of the Australia is relatively low that allow the company to invest and 4 other kuch partners paying partners that have frequent travellers for each trading company. The above discussion has brought out discussion on these certain factors such as social, environmental, economic and opportunities and finally recommendation can overcome problems by improving the staff members.
References
Computerworld, (2018). IT chiefs urged to take steps towards connected business. Retrieved from: https://www.computerworld.com.au/brand-post/content/640452/it-chiefs-urged-to-take-steps-towards-connected-business/
Kim, H. J., & Jeong, M. (2018). Research on hospitality and tourism education: Now and future. Tourism management perspectives, 25, 119-122.
Kim, S. H., Lee, K., & Fairhurst, A. (2017). The review of “green” research in hospitality, 2000-2014: Current trends and future research directions. International Journal of Contemporary Hospitality Management, 29(1), 226-247.
Sheehan, M., Grant, K., & Garavan, T. (2018). Strategic talent management: A macro and micro analysis of current issues in hospitality and tourism. Worldwide Hospitality and Tourism Themes, 10(1), 28-41.
Stay Well, (2019). SWHG PRIVACY POLICY. Retrieved from: https://www.staywellgroup.com/privacy-policy/
StayWell Holding, (2018). StayWell Holdings and Prince Hotels Inc. expand The Prince Akatoki brand to China. Retrieved from: https://www.staywellgroup.com/news/staywell-holdings-prince-hotels-inc-expand-prince-akatoki-brand-china/
StayWell Holdings Pty Limited, (2018). About StayWell. Retrieved from: https://www.staywellgroup.com/
StayWell, (2016). Australia’s largest privately owned hospitality group signs first hotel in Western Australia. Retrieved from: https://www.staywellgroup.com/news/australias-largest-privately-owned-hospitality-group-signs-first-hotel-western-australia/
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