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Competitions in the International Hotel Industry Is Increasingly Intensified and Globalized as Hotels Seek New Ways to Grow and Target Markets and Potential Customers Have More Alternative to Choose from

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1. Competitions in the international hotel industry is increasingly intensified and globalized as hotels seek new ways to grow and target markets and potential customers have more alternative to choose from. Explain in detail this issue.
Over the past two generations, the hotel industry has evolved in a continued boom to accommodate explosive growth and radically changing consumer demand, and has adjusted itself to a substantially different social and economic environment. Consequently, more complicated and varied types of hotels have been brought into existence. Simultaneously, the competition to secure a strong share in the global hotel market has become fierce among hotel chains armed with a wide variety of worldwide networks.
Hospitality companies can be grouped as either limited-service organizations or service intensive operations. In the hotel industry, polarization in hotel is being accelerated. The most basic division is between limited- service and full-service properties, hotels are tailoring themselves to specialized markets, a practice often referred to as target marketing. One of the major reasons hotels are increasingly targeting specific market segments is that in most markets, there is more than enough hotel capacity to go around. Competition will be even tougher in the years ahead. Hotels offer a highly competitive outlook for all but the luxury sector. The growth in competition makes tightly controlled operations especially important to survival. Hotel companies are increasingly expanding their businesses into global markets to secure a strong market share by the typical means of mergers and acquisitions, strategic alliances, and others because the world is rapidly being integrated into one market. Competition is getting fierce, and accordingly, decreasing profits impel hotel companies to explore new markets and form alliances and coalitions...

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