- May 5, 2014
- Posted by: essay
- Category: Term paper writing
Budget hotels industry faces considerable difficulties provoked by the deterioration of the economic environment. Nevertheless, budget hotels can maintain their performance introducing innovations which can attract customers to their services. The introduction of innovations can meet customers’ needs. In this regard, it is possible to introduce the interactive communication between the budget hotel and its customers via internet, which allows customers to order basic conveniences and equipment they would like to have in their suit. Customers will receive basic set of equipment and conveniences but they can choose specific equipment and conveniences for extra payment. In such a way, clients of the hotel can customize their suits according to their preferences and needs.
Table of content
Budget Hotel Industry Overview
Premier Inn Budget Hotel
Customized Suits Online
Customized Suits in Premier Inn
Success of Customized Suits
Budget hotel industry keeps progressing but faces considerable challenges because of the economic recession and deterioration of the situation in the travel, hotel and leisure industry as well as in other industries. In such a situation, budget hotels operating in the hotel industry, such as Premier Inn have to develop innovations that can put them into an advantageous position compared to their rivals. In this regard, the introduction of innovations can help budget hotels to enhance their competitive position in the market. At this point, it is possible to suggest introducing innovations that increase the customer satisfaction (Brotherton, 1999). In this regard, it is possible to suggest introducing customized suits online service, which includes ordering suits online, when customers can choose specifications of their suit, including equipment, conveniences, furniture and other issues. The introduction of this innovation can put such company as Premier Inn in an advantageous position in the market due to the higher customer satisfaction.
Budget Hotel Industry Overview
In actuality, the budget hotel industry faces problems caused by the deterioration of the economic environment and the decline of the number of customers. In such a situation, budget hotels have to look for options to improve their marketing performance. Budget hotels look for the improvement of their marketing performance because they face the growing pressure from the part of their rivals. The competition in the budget hotel industry grows tighter as companies operate in the unfavorable economic environment (Benfari & Taylor, 1996). In fact, the tight competition raises the problem of finding effective ways to enhance the position of budget hotels in the market.
In actuality, the introduction of innovations is one of the efficient ways budget hotels can use to improve their marketing performance and to enhance their competitive position in the industry. At this point, the introduction of innovations allows budget hotels to take the lead in the industry and to outpace their rivals.
On the other hand, budget hotels are limited in their financial resources that raises the problem of the implementation of innovations at low costs. In such a way, budget hotels introduce innovations that need low costs but can bring considerable benefits for their business development. Therefore, innovations introduced in the budget hotel industry are not revolutionary and expensive but they serve to the customer satisfaction. The customer satisfaction plays the crucial part in the development of budget hotels because the customer satisfaction raises the customer loyalty. The customer loyalty, in its turn, allows budget hotels to maintain stable and positive marketing performance, even in the time of the economic recession.