1. Competition
Competition is one of our main threats. It can be either healthy or unhealthy for a business. So if we increase our prices it will cause unhealthy competition as our customers are more likely to choose our competitors. To overcome competition, we will provide our customers with high quality services and differentiated services, by training our employees to meet the needs of our customers, by planning more events and activities and lastly providing our customers with exceptional services.
2. Inflation
Inflation is the increase in prices in order to maintain the cost and profitability. Therefore it will encourage us to increase our prices however high prices attract less customers.
3. Natural disasters
People may have had bad experiences which might give a disastrous outlook on the area which might be a major threat for the hotel as our hotel won’t be recommended to anyone. To overcome this we have trained our employees and made them aware of safety precautions that they need to take in such a situation.
Competition is one of our main threats. It can be either healthy or unhealthy for a business. So if we increase our prices it will cause unhealthy competition as our customers are more likely to choose our competitors. To overcome competition, we will provide our customers with high quality services and differentiated services, by training our employees to meet the needs of our customers, by planning more events and activities and lastly providing our customers with exceptional services.
2. Inflation
Inflation is the increase in prices in order to maintain the cost and profitability. Therefore it will encourage us to increase our prices however high prices attract less customers.
3. Natural disasters
People may have had bad experiences which might give a disastrous outlook on the area which might be a major threat for the hotel as our hotel won’t be recommended to anyone. To overcome this we have trained our employees and made them aware of safety precautions that they need to take in such a situation.