Essays on Market Analysis, Consumer Details, Existing Market Trends - Australian Tourism Industry Business Plan

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The paper 'Market Analysis, Consumer Details, Existing Market Trends - Australian Tourism Industry" is a good example of a marketing business plan. This paper provides the initial market analysis, consumer details, existing market trends and future trends required for a new business proposal to be carried out in an existing company that has been listed in the Australian Stock Exchange. The proposed business idea is one that seeks to convert Heron Island Resort in Queensland, which is an existing resort owned by the GPT group, into a multicultural tourism resort. This report provides insight into the basic business concept and the business environment, the primary aims of the project, key objectives of the proposal and detailed market analysis that gives a detailed account of the Australian Tourism industry.

This is followed up by a SWOT analysis of the proposed business idea that details the strengths, weaknesses, opportunities and threats that surround the proposal. The last section deals with the feasibility aspect, exploring the viability, justifying the cost and examining the benefits and return on investment and the regulations and legislations that surround the tourism business in Australia. Business Concept and Business Environment GPT Group is one of the largest listed diversified property groups in Australia.

Listed on the Australian Stock Exchange GPT group has total assets worth $13 billion. The group has an extensive investor base with over 50,000 investors and is one of the top hundred stocks by market capitalization. The group’ s main strategy is focused towards ownership, management and development of Australian real estate in the Office, Retail and Industrial/Business Park sectors. (GPT website, Online). GPT further extended their sectors into the Australian Tourism and Hotel sectors, with the acquisition of Ayers Rock Resort in 1997, followed by the Four Points by Sheraton hotel in Sydney and Voyages Lodges. The main business proposal put forth in this paper is to convert the GPT owned Heron Island Resort into a multicultural tourism resort.

Voyages Heron Island is a true coral cay located right on the Great Barrier Reef, off the coast from Gladstone, Queensland (Voyages Hotels & Resorts, Online). The idea of creating a multicultural tourism resort arose from the fact that Australia houses many cultures from across the world.

Asian, African, Middle East, Indian, Italian are just some of the many cultures that are now part of the Australian communities. Since tourism is a growing industry in Australia and contributes largely to the Australian economy (Tourism Australia, 2006), and since Queensland is a popular tourist destination, this idea will sell extremely well among tourists as well as the natives of Australia. The GPT Group has already extended its arm into the Tourism and Hotel industry as stated previously and owns some very high-end resorts.

This proposal of converting an existing resort into a multicultural resort is in a way combining two industries, namely tourism and hotel. Hence it will fit in well with the existing business of the GPT group. As far as operations in the existing business and organizational structure goes, this multicultural resort will be a part of the Tourism and Hotel department and will operate and function under the same.

References

Australian Bureau of Statistics (2007). Queensland Key Statistics. Retrieved 4 April 2009. http://www.abs.gov.au/AUSSTATS/abs@.nsf/ProductsbyTopic/CA0EC6BD9EDFEB92CA2571B60078AB35?OpenDocument#TOURISM

Ondee, P and Pannarunothai, S (2008). Stakeholder Analysis: Who are the Key Actors in Establishing and Developing Thai Independent Consumer Organizations? Proceedings of World Academy of Science, Engineering and Technology. Vol 34. Viewed on 24 March 2009. http://72.14.235.132/search?q=cache:Ww_lr8dkqeoJ:www.waset.org/pwaset/v34/v34-127.pdf+stakeholder+analysis&cd=10&hl=en&ct=clnk&gl=in&client=firefox-a

Tourism Queensland. Business Development : Info Sheet. Retrieved 4 April 2009. http://www.tq.com.au/tqcorp_06/fms/tq_corporate/industrydevelopment/TQ_Info3_Business_Dev.pdf

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