The paper "Feasibility Analysis of Hospitality Industry" is a wonderful example of an assignment on business. The business operates on the hospitality industry where will deal on a wide range of products and services that includes the provision of meals and drinks, accommodation and tour service for tourist both local and international. The industry trend is very tricky and therefore, it requires one to have enough background information on the industry in order to be ready to deal with any challenge arising from the industry. In addition, background information will enable the company to ensure it understands conditions required by regulators before entry into the hospitality industry in order to avoid litigation by market regulators e. g.
government ministry dealing with the hospitality industry. Operational analysis is also important in budget estimation and determination of resources to run the business cost-effectively and realize a high profit from challenging but lucrative industry, this analysis involves labor force estimation and basis of employment as used by the existing competitors in the market. Location analysis is another factor that needs to be looked into carefully since failure to understand business location could automatically lead to business failure.
Lastly, will look at the SWOT analysis of the business in order to find how suitable the business will suite in the industry taking consideration of all the factors attached to it. 2.0 INDUSTRY ANALYSIS The business will operate in the hospitality industry providing products services such as food, drinks, accommodation, and tours. Currently, there is a boom in domestic tourism in Australia due to the fact the cost of living reduced by a great proportion from the previous year while international tourists reduced due to an increase in the strength of the country's currency.
Another negative impact that hinders growth in the hospitality industry in Australia is a cheaper mode of transport to Thailand which has diverted some of the local tourists to travel to Thailand during holidays which is a peak period for any business in the hospitality industry.
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