The Hotel position at present is such that Gold Coast, Golden Palace and the Renaissance also have similar competitive ranking in customer surveys. Now given this competitive standpoints, it is extremely necessary for the business to work on revamping some of its existing strategies.
To offer Promotions in Weekend Bookings and Offseason in order to increase the overall booking rate by 10 percent within 6 months
To analyze for the feasibility of new locations that are easily accessible from the current Oppus location
To do a market research on the newer service offerings and trends followed by hotels.
3. Realised strategy
The intended strategy was a highly optimistic strategy. Given the current financial situation of the company, the expansion in the form of newer hotel segments has to be curtailed for now. However, revamping the Hotel services is feasible, and hence, this strategy is followed for now.
4. Any deviation in strategy (difference between realised and intended)
There is a deviation in strategy, this deviation was necessary because the current finances, the hotel has to plan for more short term changes, such as changes in trend first. And then, plan for the major ones. It has to first make sure that its existing units are making a profit.
5. Strengths and weaknesses of your firm – full SWOT analysis (at the end of simulation).
The company has strength in its staff as the company staffs are happy in the company in spite of the issues. The company’s main weakness is reduction in the revenue and gross profit over the last years. In the fourth year, there is some improvement in gross profit as well as in revenue but not enough. The decrease in revenue is also the biggest threat as well because this will soon lead towards the instability of the company because of dry finances. The company’s staffs are determined with company’s vision. And hence, in that case, the company has chance to build confidence among employees and to build the company for next level and enhance the company’s growth for better financial strength. Therefore, the company is advised to focus on its services and products to improve the revenue and gross profit margin so that the company can be self-sustainable over the time.