Hilton Worldwide Table of Contents Business Bit 3 Journalistic Article 4 Overview of the global hospitality industry 4 Growth of the company in the recent times 6 Growth prospect of the company in markets around the world 6 Brief Conclusion 8 Reference 9 Business Bit Hilton Worldwide is a global hospitality chain based in America and is owned by the private equity firm Blackstone Group…
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In discussing about the hospitality brands, that are owned, managed or franchised by the group, it can be said that the brands has a presence in almost every category like luxury, full service, select service, extended stay suites as well as timeshare. The Hilton Worldwide in the year 2011 was credited as the fastest growing major hotel company. As of the year 2011, the hospitality chain accumulated around 30 million HHonors members out of which 3.5 million members joined in the year 2011 itself. The hotel brand has presence in various continents around the world like the Americas, Europe, Middle East, Africa as well as Asia. Vital information about the company is given below in a summarised format: In 2011, the hotel company had an inventory of over 630,000 rooms all over the globe. The company is the owner of multiple popular brands which are present in around 90 countries. In the year 2006, the annual revenue of the hospitality company was around 7.44 billion USD. Journalistic Article While performing a strategic performance analysis for the Hilton Worldwide from the investors’ point of view, it is important to focus on conducting an overview of the global hospitality industry along with estimating the growth of the company in the recent times. Focus also needs to be given on the prospects of growth for the company in markets around the world. Overview of the global hospitality industry In discussing about the global hospitality industry, it is important to highlight that the global macro factors are bound to have a strong influence in this particular industry. Talking on this note, it needs to be stated that in the current years, the global hospitality industry has been affected in a significant manner by the political and economic factors around the world. In the year 2012, the global hospitality industry suffered the impacts that generated from US presidential election, sovereign debt crisis of the Euro zone, political disturbances and tension in various regions of the Middle East along with slowing down of Asian economies. Talking on this note, it can be stated that in the year 2012, the hospitality sector of the US, especially in the locations of New York, Los Angeles, San Francisco as well as Chicago displayed indications of growth and expansion. A report by the globally popular consulting firm Ernst and Young revealed that the average revenue per available room as of the year 2012 touched the levels of 2007. A deeper analysis revealed that the growth in the average revenue per room happened mainly because of the increase in occupancy levels as well as average daily rate (ADR). It was also found that the influence of the factors like high barriers to entry, longer and extended periods of development of hotel property as well as reduced dependence on wholesalers has greatly helped the upscale, upper upscale as well as luxury segment players of the hospitality industry of the region to attain an increase the revenue per available room (RevPAR) in the recent times. The RevPAR for the Asia Pacific region, barring countries like India and New Zealand also recorded an increase in the year 2012. The prolonged political disturbances in some of the major markets of Middle East regions resulted in generation of mixed performance for this particular
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(“Strategic hospitality management Literature review”, n.d.)
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(Strategic Hospitality Management Literature Review)
“Strategic Hospitality Management Literature Review”, n.d. https://studentshare.org/tourism/1488162-strategic-hospitality-management.
Goal setting theory is regarded one of the most reliable and practical motivation theories (Miner 2002). Some scholars, like Pinder (1998), argued that goal setting theory had demonstrated more empirical reliability than any other theory of employee motivation.
‘Events’, in this context can be termed as any social or corporate happenings organised in a planned and structured manner. Hence, it is quite apparent that events have to be systematically managed to be organised efficiently that in turn can provide with utmost satisfaction to the participants in terms of investors, visitors and other stakeholders (Getz, 2008).
In addition, in the past few years there has been a considerable change from customary and manual customer self-service settings to IT supported self-service settings. In view of the fact that using the IT based tools and techniques, consumers can be capable of creating services and products for acquisition by which little or no assistance from the hospitality firm offering the services and products is required.
The team should identify the most suitable model that would identify areas of possible strengths to exploit in order to address the different concerns facing the business. The five forces model, for instance, is an effective mechanism of identifying the possible areas to exploit while strategizing to counter the challenges of a business.
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Having experienced the SARS, July 7th, 2005 terrorist attack, and the Bird Flu, which have slowed down the UK economy and had an adverse effect on the hotel industry, there are now clear signs of recovery. This report will first examine the UK based Thistle Euston hotel market, discuss the main industry players and show the relative significance of key issues.
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implementation and evaluation of a strategy by the management of a firm, an institution or a corporate organization for the successful imposition of the scheme within the available budget and resources have been allocated for this purpose are included in strategic management
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