In this economic time, it’s very difficult to make a profitable business and especially true for hotel providers who are offering relatively insignificant services that most people can easily get to save the money. In addition to fewer clients, many of the hotels in Edmonton Alberta are facing some challenges like-
Global Threat of Insecurity
- Terror is no longer limited to certain areas of the world. It is a serious matter for global businesses including hotels in Edmonton Alberta. Mostly tourists do not prefer visiting a particular destinations which a threat of terrorist attack.
- There are many tour companies offering tour packages to the non-traditional destinations which are safer and affordable for the tourist.
Global Financial Crisis
In this world, all the business are related to each other, also one business is dependent on another so whenever market crashes or spiking oil price, it affects the business. For example, if price is high on flights it indirectly affects hotel business.
The current global financial crisis will affect the industry a number of ways, including:
In this world, all the business are related to each other, also one business is dependent on another so whenever market crashes or spiking oil price, it affects the business. For example, if price is high on flights it indirectly affects hotel business.
The current global financial crisis will affect the industry a number of ways, including:
- Few tourist as individuals and households cut cost.
- Increased cost of commodities, especially food.
- Increased energy costs, which will increase overhead costs.
Competition and Technology
- Both of these go together because they carry each other. For example, technology provide more option to user than ever before.
- Now technology will help you to make fast decision while booking a hotel or finding difference between the 2 hotels
- There is competition so if you will provide additional facilities it will be considered as required. You have to attract and retain customer spending money on social media campaigns, as well as recalling an active internet service provider.
- In order to ‘stay in the fight’, hotel providers will have to offer something creative to attract customers, Good service delivery, partnerships with other businesses, cutting extra costs in order to come up through these difficult situation.