Hyatt Regency Edinburgh Marina Announced As Hyatt's First Hotel in Scotland

                                                Company overview

            Hyatt Hotels Corporation is one of the American leading hospitality companies with a portfolio of fourteen premier brands. As the end of the year 2017, the portfolio of the company indicated that company had the capacity of including at least 700 properties worldwide. Despite that, this is basically the first time the company have had the opportunity of opening its first hotel in Scotland. The main purpose of the company in this city entails taking care of each person so that their outstanding services can boost its growth strategies in its hospitality industry. The objective behind this is to assist in attracting and retaining customers, building relationships with top colleagues, and creating value for shareholders.

                                                    Challenges

            As in the case of any business organization, Hyatt Regency Edinburgh Marina faces many challenges taking into consideration its chain of operations. With regard to the wealth the company has managed to acquire, it is evident that the growing competition in the modern service industry is the one which will somehow hinder it from enjoy the economies of scale. This competition mainly arises from the already well established Scottish tourist hotels, holiday parks, lodges, and so on (Alastair, 2017). Research also indicates that the manner in which the company has been using subcontracting strategies is the one which will impact the services it will be offering in Scotland. The reason for that is because the intention of the management authority with this technique entails lowering the expenses it incurs in terms of wages. As a way of evading liability, it implies that the workers will be demoralized because of the dangerous or poor working conditions.

            In the process of venturing in a new city, the existence of the outsized development in the company’s limited service brands is the one which affects its customer segments. Another challenges associated with this is the fact that the company’s loyalty program have been noted to fail in improving some of the services it offers to their loyal customers as far as those brands are concerned.

                                                Opportunities

            Considering the agreement entered, it implies that the company will have the capacity of opening the first Hyatt branded property in Scotland as well as the third Hyatt Regency Hotel in the United Kingdom. As a result of that, by the end of the year 2021, it is expected that the company could have the opportunity of opening and managing at least 98 apartments and 187 guestrooms. This is what will make the company to act as a premier hotel and residential destination in the city (Resource, 2018).

            In order to be in the position of showcasing the best hospitality services, the company has the plans of incorporating world-class services, creative designs, as well as other state-of-the-art facilities. Additionally, the company has the potential of including 10, 000 square foot banquet and conference center, bar and restaurant. After the hotel has been established, it will be featuring serene spa providing restorative therapies and boutique fitness classes (Resource, 2018). It, therefore, implies that the presence of such astonishing amenities together with its convenient location is the one which will make it to be a true shopping destination not only for local travelers but also for international travelers visiting the historic capital of Scotland.

                                                            Recommendations

Promotion _The vision, mission, purpose, and values of the Hyatt Hotels Corporations are always brought to life by the organization’s workmates, whom the company regards as Hyatt family. Because of that, in the process of venturing its new business in Scotland, its management authority should ensure that it has utilized the available social media platforms for advertising the services they offer. These platforms such as TVs, radio, magazines, and so on are the one which will enable the company to reach its potential customers (Evert, 2011).

Product _ To be able to market the company’s brand and services to be offered, the management authority should ensure that they have continued embodying its purpose of caring for their esteemed customers, the business owner, and the whole community it will be operating in. The reason for that is because such commitment to offering genuine services is what ultimately differentiates what drives the preference of the tourists visiting their business (Dogra & Ghuman, 2010). 

Place _ The management team should ensure that they have been provided with suitable autonomy to establish operational rules and regulations in the best interests of the hotel and its associated brands. It is this strategy which will enable the business to venture well in the city taking into consideration some of the operational decisions to be formulated by those managers who had initially demonstrated to achieving the mission and vision of the company  (Hoffmann, 2008). This goes in line with the idea of targeting the local and international potential customers

Price _ Regardless of the competition the company can be experiencing in Scotland’s tourism industry, minimizing such challenges and utilizing the available opportunities is the one which will enable the company to offer services at a reasonable price. It is the high levels of customer satisfactions and reasonable prices which results to the continuous increase of guest preferences for the company’s brands (Evert, 2011). This equally results from strengthened revenue investment base both in the short-run and in the long-run. 

                                                            Implementation

Short-term

            The mutual engagement of the company’s colleagues also have the ability of enhancing proficient operation of the company’s properties, hence leading to the financial improvements for its owners. It, therefore, implies that the sustainable adherence to such operational principles will act as the basis for improving the brand reputation of the company (Dogra & Ghuman, 2010). The reason for that is because it is one of the fundamental factors which impact the managerial decisions of the company’s developers and group owners to make adequate investment in its portfolio around the world.

Long-term

Conversely, collaborating together with the existing potential investors and prospective owners to boost the company’s presence will result to increasing customer satisfaction, create new channels, and improve its brand preference for professional long-term growth. As a means of boosting the tourism industry, it implies that it is possible to continue making the hotel to be fit for such upscale waterfront development.   It is because of these strategies which will add to the growing portfolio of the company (Hoffmann, 2008). Moreover, the management authority needs to ensure that they acquired more guests as compared to its competitors taking into account the full service hotel treatment it will be offering to each individual.

                                                Conclusion

            Considering the challenges and the opportunities available, its management authority should ensure that they are in the position of offering a seamless experience which will ensure that they have connected the business and leisure alike to anything they require under one roof. This will ensure that its guests have had the capacity of enjoying a wide range of amenities and services, including flexible working space, outstanding culinary experiences, relax or collaborate, and other technology enabled facilities. Such facilities will be crucial for clients having events, meeting, together with professional planner who adheres to the every detail of this organization. Another reason which compels the company to be operating effectively is the fact that it is one of the perfect foundations which will enable its management authority to launch its bland effectively. In return, it will be easier with time for the company to experience era for establishing flawless and new tourism opportunities. This should be incorporated with other online means of promoting the business so as to outdo its rivals.

 

                                                                                                           

 

 

 

 

 

 

                                                References

Alastair, J. D. (2017). Scotland and Tourism: The Long View, 1700–2015. Routledge Advances in Tourism. Taylor & Francis Press

Dogra, B., & Ghuman, K. (2010). Rural marketing: Concepts and practices. New Delhi: Tata McGraw Hill.

Evert, G. (2011). Total Relationship Marketing. Routledge Press

Felix, O. (2013).  Principles of Hospitality Management: Hyatt Hotels Corporation. GRIN Verlag Press

Hoffmann, S. (2008). Are the 4 P's of international marketing of equal importance to all firms? What factors might cause some to more or less important than others?: A short article. München: GRIN Verlag GmbH.

Resource, H. (2018). Hyatt Regency Edinburgh Marina Announced As Hyatt's First Hotel in Scotland. Retrieved from https://www.hotelnewsresource.com/article102894.html