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Strategic Management for Hotel Industry

In: Business and Management

Submitted By nghia1011
Words 1323
Pages 6
Strategic management for hotel industry
Lecturer: Paula Tomsett
I-Shou University

Contents ABSTRACT 3 INTRODUCTION 4 RELEVANT THEORY 4 Strategic management 4 Globalization 5 IMPLICATIONS FOR INTERNATIONAL STRATEGIC MANAGEMENT 5 The cost of land ownership 6 Costs of funding the projects 6 Official procedure approval 6 Human resource matter 6 The speed of technology development 7 Infrustructure and security matters 7 Strong competitors 7 CONCLUSION 8 REFERENCES 9

Hotel industry has been chaos period in recent years. What makes a firm differing from the others are well known brand, high standard products and services, as well as an unique strategic management to build short term and long term plans and strategies. In the process of strategic management, firms encounter a number of challenges. In order to compete rivals and get an competitive advantage, it is essential to issue the problems and find out possible and relevent solutions.
Key words: hotel industry, strategic management, hospitality

In recent years, global economy is facing a severe recession that affects almost aspects of business life. Hotel industry is also not an exception, typically Indian hotel industry. In order to grow and expand, hotel industry has to combat a number of challenges in human resources, land acquisition, technology deployment as a strategic tool and understanding the dynamics of new generation consumers (Jauhari, 2012). Therefore, strategic management is the key issue. If the factors are strategically managed in the right way, hotel industry will be able to improve and expand rapidly. This does not have practical implication for hotel industry practitioners but also for policy makers, government agents, analysts and researchers.

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