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MEMORANDUMTO: The Board of DirectorsFROM: DATE: October 19, 2017SUBJECT: - SWOT Analysis of Caesar’s Palace and Strategic InitiativesStrength of Caesar’s PalaceThe hotel is doing well with an assumed average occupancy rate of 91.2% for 2016Located in one of the top tourist cities in the worldThere are barriers to entry for new competitors to open a casino or hotel in Las VegasHigh demand for events such as bachelor parties, bachelorette parties, and weddingsWeaknessCash flows from investing have been losses in two of the past 3 yearsIt will take about 3 and a half years to payback the costs of the renovationsOpportunitiesIndustry and economy both are growing.Take advantage of social media and other online opportunitiesThreatsLegal/Governmental restrictionsCompetition from hotel industryStrategic initiatives the company should focus on in the future. 1.Services and Innovation – Competition from other hotels will always be high in Las Vegas so it is important to always be looking for new ways to attract customers.2.Social Media and Online customer reviews, and new opportunities – Find new and innovative ways to market to and reach new and existing customers. It will be important to focus on customer satisfaction in order to receive positive customer receives online as they extremely important in the entertainment industry. It was also be important to marketthese positive reviews. Develop a strategy to take advantage of potential changes in the online gambling laws.I will be glad to discuss these topic further in our next meetingThanks for your corporation,