A critical and analytical report on a scenerio based on hospitality economic a critical and analytical report on a scenerio based on hospitality economic Paper details Assessment type: Individual Academic Report (see below for detail). The format for the individual academic report should be critical and analytical and should discuss bellows scenario. Hotel œGlorious (fictional Hotel) is a small family run hotel (40 Rooms, 1 Restaurant/Bar, small Spa) in the well-known ski resort of Leysin Switzerland. It had steady growth the past 6 years. But the hotel was also affected/not affected?¦firstly by the great recession of 2008 / 2009 and then by the strong Swiss franc. Explain and justify with valid references the effect of the different negative factors, and illustrate the effect on Hotel œGlorious using demand supply and price dynamics (with diagrams if it helps). Underline your arguments with examples from the industry and academic references! What strategic advice would you give to Hotel œGlorious facing these market changes if it wants to maintain its previous occupancy? Justify your advice with reference to hotels and hotel chains that have carried out similar strategies like pricing, added value or promotional campaign in order to shift demand curve back to the right. What economies of scales (if joining a chain) would have positive effects in terms of cost, growth and profitability? Are their any negative effects of economies of scales? Underline your arguments with examples from the industry and academic references! Your Report should be 2500 words in length (+/- 10%) and include: An introduction A main body with the different points Conclusion Bibliography Some hints for a very good to excellent and successful report! There was a worldwide recession, ok, however were all countries equally effected? All areas equally affected? All Industries equally affected? To what extend tourism? Travellers “ business/ leisure? Different segments? Categories? The more in depth, detailed and precise you research (quantity and quality of your references, hence reading) the better your analysis, discussion and arguments will be!! Don’t forget that you need professional and academic references in order to underpin your discussions, analysis and arguments! Be critical and bring in your thoughts, don’t be just descriptive! P.S. THE SCHOOL USE TURN IT IN, so please have a similarity less than 10% including the citation and reference.