The Hilton Key Largo Resort is a six-year-old Hilton Worldwide hotel that has established a high regard, and is a positively commented on resort for vacationers on many travel websites. As one of the eleven successful Hilton Worldwide brands, the Hilton Hotels & Resorts is marked to be an unremittingly “innovative, forward-thinking global leader of hospitality” (www.hiltonworldwide.com). This brand name expands to 550 hotels and resorts in about 80 countries. At our Hilton, we cater to the Hilton HHonors program, which is a loyalty program in which its members have the ability to earn both points and airline miles for their stays at over 4,000 hotels in 90 countries, as well as receiving many other complementary privileges.
This report covers the basic Company Profile, which discusses what the Hilton Key Largo location has to offer at the resort and in the surrounding area.
For the Balanced Scorecard section I have set up a table, which includes a strategic plan and management system to align our business activities to the mission and vision of the Hilton Worldwide brands, developed strategies to improve the internal and external communications for our location, and ways to monitor the performance over the next year. The chart will be organized into a strategy map to allow its users visual ideas of where the perspective plans connect. Subsequently, as you will see with the attached document for the 2013 Operating Budget, the hotel has revenues totally over $105,000,000 and a net operating profit of about $45,500,000 as of this year. Along with the P&L Statement, other revenue generating departments will be discussed thoroughly with estimated expenses and revenues displayed, and finished with an assessment of local comp...
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...e an integral part of our operating philosophy,’ commented Dieter Huckestein, president, hotel division of Hilton Hotels Corporation. ‘It’s embraced by all our brands system-wide and motivates team members to achieve higher levels of performance by keeping everyone focused on results” (bscol.com).
HILTON HOTELS’ VISION:
To fill the earth with the light and warmth of hospitality
HILTON HOTELS’ MISSION:
To be the preeminent global hospitality company – the first choice of guests, team members, and owners alike
OUR VALUES:
HOSPITALITY We’re passionate about delivering exceptional guest experiences
INTEGRITY We do the right thing, all the time
LEADERSHIP We’re leaders in our industry in our communities
TEAMWORK We’re team players in everything we do
OWNERSHIP We’re the owners of our actions and decisions
NOW We operate with a sense of urgency and discipline
The Balanced Scorecard is a business strategic planning system used by management to make decisions based on information provided about the business from four different perspectives. The first of the four perspectives is the financial perspective. Which means that we evaluate our business and conduct research from the shareholders perspective. Next is the internal business perspective, which is an internal evaluation of what the business must be good at to excel. Next is the innovation and learning perspective which is an evaluation of the firm’s ability to continue to improve and create value. The final perspective is the customer perspective, which is looking at the business activities from the customers
Key West is many people's paradise. It has dazzling waters, beautiful beaches, and a wonderful climate. This tiny island is located off the southernmost part of Florida is the only true tropical island in the United States. Thousands of people from all over the world come to Key West every year for the relaxing lifestyle and rich culture. As well as being rich in culture it is rich in history too. Key West has also been the home to many great authors and artists and is known for having a very diverse population.
To be the number one aerospace company in the world and among the premier industrial concerns in terms of quality, profitability and growth
Using the balanced scorecard method you are able to get a balanced view on how your company is performing. Using this method you get a full view on if your company is meeting its objectives. Even though your company may be performing well financially other areas of your company could be failing. When using this approach your company will look at objectives short and long term and determine the health of your company. Lastly when using this approach any strategic actions that are implemented will match your desired outcome. (Bowen,
In 1919, Company founder, Conrad Hilton, purchased his first hotel in Cisco, Texas. Since that time, Hilton Worldwide has become a worldwide operator, franchisor, and licensor of hotels and timeshare properties in more than 91 countries. In nearly 100 years of existence, the Company now finds itself as one of the largest and fastest growing hospitality companies with over 4,115 properties and 678,630 rooms. With a commitment to high quality and customer satisfaction, the company has established a portfolio of 10 world-class brands including the most recognizable hotel brand in the world, the company’s flagship full-service Hilton Hotels & Resorts brand. Its premier brand portfolio includes the luxury hotel brands, Waldorf Astoria Hotels & Resorts and Conrad Hotels & Resorts, full-service hotel brands, DoubleTree by Hilton and Embassy Suites Hotels, focus-based hotel brands, Hilton Garden Inn, Hampton Inn, Homewood Suites by Hilton and Home2 Suites by Hilton, and the company’s timeshare brand, Hilton Grand Vacations. Hilton operated properties are staffed with more the 314,000 team members focused on providing a complete experience at each location. The company’s award-wining customer program, Hilton Honors, defined rewards programs in the industry and now has over 40 million members (Hilton Worldwide).
The hotel industry performs within a saturated market, driven by customer loyalty and competitive pricing to stand-out. This competitive nature makes it extremely important to capitalise on strengths while improving on
Marriott did come up with a vision; To be the number 1 hospitality company in the world.
At the beginning of 1993, the company introduced a new Group Mission. Statement that has been rolled out to every member of staff through personal presentations by the Managing Director at every hotel and corporate office. This Mission Statement has been published in English, Chinese, Thai and Indonesian, and serves as a model for that. it conveys guidelines and criteria that can be used by hoteliers who wish to monitor and evaluate their own leadership and quality. improvement efforts.
Mandarin Oriental has partnered with eighteen different airline frequent flyer programs to offer points. One airline, British Airways Executive Club offers upgrades at the hotel (Mandarinoriental.com, n.d.).
Mission- to provide values to the lives of customers, to make the lives of partners worthy, concern about environment and community
The Wyndham has executed a compliance program to strengthen ethics throughout the company. They have drafted a thorough Code of Business Conduct that has received top scores from the Ethisphere Institute for its comprehensiveness and availability to stakeholders. Another way the Wyndham contributes to customer is creating a customer relationships. When consumers think about and associate the Wyndham hotel company the first thought that should come to hand is an upscale hotel chains that targets high end consumers. However, the Wyndham targets travelers from across the world and social status. For example, they have different hotels that expend the reach of consumers some of them include Wyndham Hotels and Resorts, Wyndham Garden, and Wyndham Grand Collection, Days Inn, Super 8, Travel Lodge, and others. This strategy allows Wyndham to avoid brand confusion but also set apart with having a wide variety of consumers. Ending with Availability of products and customer care services: The products of the Wyndham are always available in markets and keeps on changing customer requirements. Their customer care service is also effective that help customers in making right and quick
The Hotel industry has become very important in the past years due to immense traveling and growth of international business. Hotel industry not only plays an important role in the life of people but as well as the economy of the country. Development and advancement in the Hotel industry have rapidly been taking place and especially since the rapid change in technology, it is very important for hotels to be promptly keeping up to date. When the hotel industry is spoken of, there are many famous hotels but one hotel company that has been outstanding in growth and other aspects of business, like in Leadership, Teamwork (Employee turnover), Motivation (Customer retention and satisfaction, Goals and objectives, (changing the way hotel business has worked), and Change within the company; structurally inside and physically outside, adding elements, like entertainment, gaming, and outdoor activities, is the Hilton Hotel Company.
-“Sense of Place” philosophy- each hotel has a local character and culture of the given location. Architecture and history in implemented in each individual hotel which is very different approach than chain-like competitors. This was a power tool that Rosewood had!
Company. Rosewood is a 25 years old luxury private hotel management company having 12 hotels in different countries. The company is known by unique, “one-of-a-kind properties” with very luxury style. The total rooms capacity worldwide is 1513 rooms. The company has only 5% of cross-selling rates, which is one of the lowest in the industry compare with corporate branded hotels (10%-15%) and individually branded hotels (5%-10%).
“The objective of this phase is to identify events and or future trends that will affect the hotel industry over the next five years. Also, the impact that those events and trends will have on your business in terms of cost and revenue changes and the timing of the impact.” (Fedele, 2010) For each of the external environment, it is also to identify what will affect the performance of the business.