Manhattan Hotel Market

Strategic Management
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Table of Contents
 TOC \o "1-3" \h \z \u HYPERLINK \l "_Toc416227342"Introduction  PAGEREF _Toc416227342 \h
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HYPERLINK \l "_Toc416227343"Analysis of the Manhattan hotel industry  PAGEREF _Toc416227343 \h
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HYPERLINK \l "_Toc416227344"Market overview  PAGEREF _Toc416227344 \h
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HYPERLINK \l "_Toc416227345"PESTEL Analysis  PAGEREF _Toc416227345 \h
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HYPERLINK \l "_Toc416227346"Political Analysis  PAGEREF _Toc416227346 \h
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HYPERLINK \l "_Toc416227347"Economic analysis  PAGEREF _Toc416227347 \h
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HYPERLINK \l "_Toc416227348"Social  PAGEREF _Toc416227348 \h
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HYPERLINK \l "_Toc416227349"Technology  PAGEREF _Toc416227349 \h
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HYPERLINK \l "_Toc416227350"Environmental factors  PAGEREF _Toc416227350 \h
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HYPERLINK \l "_Toc416227351"Legal  PAGEREF _Toc416227351 \h
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HYPERLINK \l "_Toc416227352"Porter’s 5 forces in the hospitality industry  PAGEREF _Toc416227352 \h
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HYPERLINK \l "_Toc416227353"Projections of the Manhattan hospitality industry  PAGEREF _Toc416227353 \h
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HYPERLINK \l "_Toc416227354"Investment Strategies into the Manhattan hospitality industry  PAGEREF _Toc416227354 \h
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HYPERLINK \l "_Toc416227355"Positioning  PAGEREF _Toc416227355 \h
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HYPERLINK \l "_Toc416227356"Key performance indicators  PAGEREF _Toc416227356 \h
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HYPERLINK \l "_Toc416227357"Risks  PAGEREF _Toc416227357 \h
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HYPERLINK \l "_Toc416227358"Conclusion  PAGEREF _Toc416227358 \h
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HYPERLINK \l "_Toc416227359"References  PAGEREF _Toc416227359 \h
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Introduction
Strategic planning ensures that the firm has the right priorities set out, with resources well focused such that there are no hiccups in the operations over a specific period of time in response to the business environment. As such strategic planning is ultimate guide that shapes the firm and gives the direction that the organization in its entirety is going to follow (Manhattan Lodging Index - Q4 2014, 2015). However the plans do not just make for the path to be followed to a certain point, but also makes the necessary check point available to the firm, such that they can test if the business model and the plans are workingin the given area and industry as a measuring score line of success (Manhattan lodging index Third quarter 2014, 2014).
The management has to scan the environment, formulate the strategies, set the goals, implementation, evaluation, feedback and control of the same (Balancedscorecard.org, 2015). When in vesting in the hospitality business, it is important to take into account the industry has a cyclical nature. At one time there is booming business and other times it is plainly poor. Relative to the steady hotel construction in New York, there is an estimated increase in the new rooms to roughly 110000, the highest ever, by the year 2016. Manhattan boasts of more than 300 hotels and more than 80000 room capacities, which sometimes get to 86% mark at the average rate of $280, relative to occupancy (deMilleret, 2013). This is much higher than the rest of the nation as the average of 61% occupancy at the rate of $107, making Manhatta...