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Competitiveness in the hospitality industry
Creating brand equity
Successful customer orientation
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Recommended: Competitiveness in the hospitality industry
1. Introduction Nowadays, to successfully lead the company and keep a strong position on the market in any industry is challenging. It might be a consequence of enormous competition, a broad market full of companies of different resources and capabilities, constant change in demand and raising customers´ expectations. Therefore, companies have to build on its reputation and competitive advantage unconditionally. It is much difficult when competitors are present in the same area, offering the similar product or service. Then, the only way to keep the current customers is by investing and concentrating on their perspective, working on the customer- approach and extraordinary customer- oriented service, which will ensure distinctness that is sometimes even more important for the customer than the product itself. In DoubleTree by Hilton, where ,,small things matter´´ is high- …show more content…
To reach this excellent and similar performance in all hotels of the chain, employees are constantly trained to increase their knowledge, efficiency and to improve the performance according to the Hilton standards. The hotel is primarily designed to satisfy the requirements of business travelers, who generate the highest profit amongst the customers, although, during the weekends and holidays, they try to reach the leisure travelers by organizing tours through the city and creating the travel packages. (doubletree-kosice, 2017) The organizational structure of Hilton in Košice is functional. In general, this type of structure is for many hotels advantageous, because of the vertical hierarchy, which defines the power distribution, specifies the job positions and service, which every unit provides.
My paper analyzes the IS/IT (Information Systems based on Information Technologies) of hotel units integrated in a group, using a literature and a case study which examines how the information technology of the ERP type are applied in the hotel units along with its limitations and its advantages.
Satisfying and pleasing customers have become something of a corporate obsession. Customer is served in the best, effective and most efficient manner and this practice has become critical.
Since the customers in this industry are not price sensitive, having a competitive advantage is vital for firms. Hill-Rom considers customer service is its reputation, thus gives significant value to its customer relationships. In addition, its variety of products gives high competitive advantage to the
Introduction. Customer loyalty is basically defined as a deep held commitment to re-buy or re-patronize a chosen product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts having the potential to cause switching behavior (Oliver, 1997). It is a main driver for customer retention, which, in its turn, represents a basic force that accumulates a customer base for the company. As the experience suggests, the presence of the customer base is a valuable asset, because a lot of statistical data and marketing researches have proved that it is harder and much more expensive to acquire a new customer rather than retain an existing one. In this aspect, any business without a focus on customer retention is left on market’s mercy: any market movements will affect the sales in a more intense manner. There is also a risk that your competitor may eventually satisfy the existing customer’s needs and take away a part of your market niche. Moreover, customer loyalty gives a sort of discretion to the company’s R&D policy and marketing strategy: you can try to introduce different features to your products, experiment with different types of ads, and no matter what the results would be, — the customers will stay stick to your production line. Of course, an organization does not have an absolute control over the loyalty of its customers, bec...
At the end it all comes down to being receptive of the customer’s perception and their requirements by offering a service or a product that caters to everything and removes the barriers to adoption of the emerging technology and innovations rather than just holding them
The management objectives focus driving the hotel’s income generating potential for its owners. Vincent implied three key objectives Colliers set for potential opportunities; how many number of rooms (80+), what services do the building provide for and a high quality condition report. Consequently, they structure their quantitative analysis around occupany rates, room rates per night and ancillary services per room. Running Yeilds were important in stabilising cashflows over the investment horizon. These are the quantitative meterics that drive the Hotel’s revenue base. Further Colliers targets 80+ room size pushing it into bigger scale projects where they can add value back into the investment. Vincent spoke
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.
Founded in 1919, Hilton Worldwide has remained a beacon of innovation, quality, and success. What Hilton Worldwide calls their mission statement imposes its worldwide high status: “We will be the preeminent global hospitality company - the first choice of guests, team members and owners alike.” Fierce competition, however, does currently exist among hotel corporations within the market. Marriott International, Hilton’s main competitor, currently stands as the third-ranked world leader within the industry (according to hospitalitynet.org), coming in after Hilton. Other competition faced by Hilton comes from Wyndham Worldwide, Starwood Hotels and Resorts, and Best Western, to name a few. Affiliated with ten different hotel brands, Hilton Worldwide provides its guests with the advantage of choosing from any one of their 4,000 operating hotels located throughout 90 different countries. This has evidently contributed to Hilton Worldwide becoming one of the top leaders (ranked second to be exact) in the hospitality industry, despite their competition. The vision of Hilton Worldwide is “to fill the earth with the light and warmth of hospitality.” As the modern luxury hotel, Hilton has created a prestigious heritage with a modern attitude. The values of Hilton Hotels are stated uniquely, giving one value to each letter that constitutes the word for the hotel brand. “H” stands for Hospitality– “We are passionate about delivering exceptional guest experiences”; “I” stands for Integrity– “We do the right thing, all the time”; “L” stands for Leadership– “We are leaders in our industry and in our communities”; “T” stands for Teamwork– “We are team players in everything we do”; “O” stands for Ownership– “We are the owners of our actions and dec...
Being able to provide exactly what your customers are looking for is one of the best ways to gain and retain customers. You will also begin to see that customer satisfaction is climbing, which makes it much easier to cross-sell and up-sell and thus increase your profitability.
Hilton Worldwide carries out business through three segments: (1) management and franchise; (2) ownership; and (3) time-share. These business segments enable management to capitalize on strengths like brand recognition and economies of scale. The company focuses primarily on the management and franchise segment which consist of 3,918 hotels with 610,413 rooms. Managing the properties, rather than owning them, allows the company t...
-Customers: The company felt the importance of being customer-centric and innovate by adapting to customer
The top leading hotel bees are the Hilton, Choice Hotels, the Best Western, Accor and the Marriott. They all strive to offer luxurious, accommodating environments, which puts a struggle on the economy. Due to the various splurges and lavish venue spaces required, an increase in real asset prices has been the result. Intense capital has been the solution for many of the hotel chains, to be able to acquire the necessary properties.
There should be cleared.environment to servive in this competitive era.they has to evaluate new strategy for targeting their goals and tactics.inventory control ,service for special customers and all other activitives which takes part in each day within the hospitality or tourism operation.in hotel industry there should be something new on each day as compare to others which help to cater
With its current customer base, the company can create a new product line that will be attractive to existing customers and also
More often organizations are getting into bigger risks in the market with their leaders in nowadays economy. The resistance to change is a reason why organizations trying harder to keep earlier recognized reputation within clients and community. The theme of leadership is relevant for each person as it occurs almost to everyone during the lifetime or to those who at least were a part of a team.