Hospitality Business Development

Ahmed Hassanien, Lecturer, School of Marketing, Tourism and Languages, Napier University Business School, Scotland
Crispin Dale, Principal Lecturer, Department of Leisure and Lifestyle Industries Management, University of Wolverhampton, UK
Alan Clarke

Hospitality Business Development analyses and evaluates the different aspects of business growth routes and development processes in the international hospitality industry. It considers the essential features of the strategic business context, in which any hospitality organisation operates, and:

Explores the essential requirements and challenges of hospitality business development, and the implications which these present for hospitality operators.
Explains how differentiation and innovation can become key to organizational success and provides you with the all of the skills you need to implement your own business development
Examines the shifting nature of demand, evaluating consumers behaviour and relating the principles of customer centricity to the business development function
Is packed with case studies and industry related examples, which cover a broad range of hospitality sectors including in-flight catering, holiday homes, guest houses, licensed retail, catering, international restaurants and hotels, ensuring you have a thorough understanding of the international hospitality business development

Hospitality Business Development equips students and aspiring hospitality managers with the necessary knowledge, expertise and skills in business development. This book is a must-read for any one studying or working in the hospitality industry.

Audience
Undergraduate students years 2-3 on hospitality management, international hospitality management and hospitality studies courses.

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Published: January 2010

Imprint: Butterworth Heinemann

ISBN: 978-1-85617-609-5

Preface
Acknowledgements
About the Authors
PART I: PRODUCT DEVELOPMENT / ENVIRONMENT
Chapter 1: Why Product Development?
* Learning objectives
* Introduction
* The nature of the hospitality products
* Importance of Product Development
* Managing Product Development
* Key Factors in Product Development
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading
Chapter 2: Hospitality Products
* Learning objectives
* Introduction
* The Hospitality Industry
* Hospitality concept & Sectors
* Environmental analysis
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading
PART II: HOSPITALITY CONSUMER & PRODUCT RELATIONSHIP
Chapter 3: Hospitality product and customer
* Learning objectives
* Introduction
* Customer attraction and Retention
* Customer Behaviour
* Product Development through Customers
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading

PART III: PRODUCT PLANNING AND MANAGEMENT
Chapter 4: Product Planning and Funding
* Learning Objectives
* Introduction
* Funding Sources
* Direct
* Private Sector (e.g. Bank Lending; Venture Capital; Equity)
* Public Sector (e.g. European Commission; Central Government; Local Authorities)
* Voluntary Sector (e.g. Conservation or Educational Trusts)
* Indirect
* Private Sector (e.g. Leasing; Franchises; Sponsorship)
* Public Sector (e.g. Land/Buildings; Infrastructure Provision; Tax Allowances)
* Voluntary Sector
* The Business Plan
* Structure of A Typical Plan
* Summary
* The Business Idea
* Target Market
* People
* Marketing and Advertising Strategy
* Premises and Equipment
* Financing and Assets
* Financial Projections
* Summary and Conclusions
* Review Questions
* Case Study
* Glossary of Terms Used In This Chapter
* References and Additional Reading

Chapter 5: Product Success and Failure
* Learning objectives
* Introduction
* Product Performance Measures
* Financial
* Relationship enhancement
* Market Development
* The Scorecard Approach
* Financial Perspective
* Internal Business Perspective
* Innovation and Learning Perspective
* Customer Perspective
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading
PART IV: PRODUCT DEVELOPMENT ROUTES AND PROCESS
Chapter 6: Competitive advantage Through Product
* Learning objectives
* Introduction
* Generic strategies for achieving competitive advantage
* Cost Leadership
* Differentiation
* Focus
* The Strategy Clock
* Price Based Strategies
* Differentiation Strategies
* Strategies Likely To Fail
* Ansoff's Growth Or Product-Market Matrix?
* Market Penetration
* Product Development
* Market Development
* Diversification
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading
Chapter 7: Product Development and growth
* Learning objectives
* Introduction
* Dimensions of Development directions
* Market coverage
* Products
* Competence base
* Expectations
* Types of Development methods
* Internal (or organic) development
* Acquisition or merger
* Types of strategic alliance
* Joint Ventures
* Management Contracting
* Licensing/Franchising
* Consortia
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading
Chapter 8: New Product development/Innovation
* Learning objectives
* Introduction
* New Product Development Concept
* New Product or Service Development Process
* New product strategy
* Idea generation
* Screening and evaluation
* Business analysis
* Development
* Testing
* People Involvement in NPD
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading
Chapter 9: Renovation as A product Development Tool
* Learning objectives
* Introduction
* Toward a Renovation Concept
* The Significance of Renovation
* Types of Renovation
* Renovation versus New Construction
* The Renovation Process
* Driver Analyses
* Planning and Controlling
* Determine Objectives
* Alternative Plans
* Team
* Budget
* Timing (Scheduling and Phasing)
* Marketing * Implementation
* Evaluation
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading
PART V: CONCLUDING REMARKS
Chapter 10: Conclusions and Further Thoughts
* Learning objectives
* Introduction
* Critical Success factors of Product Development
* Link to overall business strategy
* Balanced product development portfolio
* Clearly defined product development strategy
* Appropriate human and physical resources
* Management Support
* Understanding the consumer, competitor, market and environment
* Evaluating Product Development
* Further Research
* Summary and conclusions
* Review questions
* Case study
* Glossary of terms used in this Chapter
* References and additional reading

Hospitality Business Development

Contents