Hotel Industry Analysis Essay

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Industry analysis
The industry in which Shangri-La hotel originally compete in largely is hospitality industry. It is a broad category of fields that includes accommodation, theme parks, event planning, cruise line, etc. Aware of the trends in pet industry, Shangri- La hotel want to offer their customers a pet friendly hotel that includes accommodation to pets that brings along by their owner for traveling.
Economic
Pet industry often called as recession resistant because it has been growing and surviving during the economic downturn while the other industries have faltered and suffered. According to the research of American Pet Products Association, it is estimated to hit $53 billion this year and also enjoyed the average growth of 5% for the past five years (Pawsible
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The next generation of the potential buyers of pet products and services include the Generation X, who are 31-51 years old, and the Generation Y who are 8-30 years old. This demographic groups will more likely to seek out the products and services that can allow their pet to participate actively in their entire lifestyle, and enjoy its life more happy and comfort with their families. For example, they would have purchase some pet outfits, presents and special shampoos for their pets. The increased in personification of pets has resulted the huge increase in the number of premium pet products available for pet care. Personalized products and even high-technology gadgets such as automated food dispensers have become the standard for them to treat their pets. In a recent survey, it’s showed the 68% of pet owners admitted that they treat their pets same as they treat their own children. Hence, there will be a continually increase in products and services that related to hotel services, pet travel, and airline services in the

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