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Global Hospitality Market Assignment Sample

   

Added on  2021-01-01

18 Pages5562 Words359 Views
GLOBAL HOSPITALITYMARKET
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11.1 Background of Intercontinental Hotel Group (IHG).............................................................12. Strategic position of Vietnam..................................................................................................12.2 SWOT analysis of Hotel in the Emerging market................................................................23. Global Hospitality market.......................................................................................................43.1 Marco Environmental Analysis (PEST Analysis).................................................................53.2 Micro Environmental Analysis.............................................................................................74. Implementation of the strategy and moving forward..............................................................84.1 Market Growth Strategy to be adopted and to be implemented within the entering market94.2 Corporate Strategy Directions.............................................................................................104.3. Choosing the market entering mode..................................................................................124.4. Implementation of strategic management..........................................................................13CONCLUSION..............................................................................................................................13RECOMMENDATIONS...............................................................................................................13REFERENCES..............................................................................................................................15
Global Hospitality Market Assignment Sample_2
INTRODUCTIONHospitality is a broad category in which it includes tour and tourism sectors, hotels andrestaurants, etc. It is a type of business which helps in providing services to their customers.Their main aim is to focus on the satisfaction of their clients. Thisindustry is much broader thanmost other industries in comparison. Present report will talk about Intercontinental Hotel Group(IHG). It will focus on expanding their business in Vietnam. This study will discuss about theSWOT analysis of hotel in the emerging market and will also explain about the macroenvironmental factors which has a huge impact on their business, such as, PEST analysis,Porter’s, Porter’s 5 forces model, etc. Market Growth Strategy that is adopted by the hotel andimplemented is explained. Different modes for entering into new market and corporate strategydirections related to them and its implementation of strategic management will be discussed indetail in this report.MAIN BODY1.1 Background of Intercontinental Hotel Group (IHG)Intercontinental Hotel Group (IHG) is a chain of hotels of British multinationalhospitality company. It was established in 1946 by JuanTrippe. It is headquartered in Denham,Buckinghamshire. It has the capacity of approx. 776,982 guest rooms and has more than 5,400hotels that located in 100 different countries. It has approximately 375,000 employees workingwith them currently. Intercontinental Hotel Group includes several brands, for instance, CrownePlaza, Holiday Inn, Holiday Inn Express, Hotel Indigo, Hualuxe, InterContinental and Resorts,etc. InterContinental Hong Kong is a chain of Intercontinental Hotel Group (IHG). It came intoexistence in 1980. Intercontinental Hotel Group (IHG) provides various facilities to its guests. 2. Strategic position of VietnamVietnam is on the middle of sea line of Hong Kong - Singapore. Vietnam has a nauticalcorridor for economic development within nations in the region as well as all others all over theworld. The favorable location has helped Vietnam to reach the world first-class active tradecenters very easy and in convenient manner. Vietnam plays crucial role in historical developmentas well as in regional and international economic and cultural exchange (Vietnam’s strategictrajectory, 2017). This country has recently emerged as a key player in Southeast Asia which isvery useful for them making business relations with other countries as well. Vietnam’s pursuit1
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for international economic integration and a greater political role has therefore gave theinternational community possibility to engage in order to enhance their business activity.It is very important for the Intercontinental Hotel Group (IHG) to analyze the strategicposition of their emerging market that is Vietnam. Expanding and entering the new emergingmarket of Vietnam, it is very essential for them to understand the concept of marketingsegmentation of the country. Market segmentation is a process which is used to divide theircustomers on the basis of their needs and preferences. There is basically three different types ofsegmentation which is useful for the hotel industry, for example:Geographic Segmentation: In this type of segmentation, customers are divided on thebasis of geographic area. In hospitality industry this segmentation is related to the kind oftransportation and tourists destinations in which their potential customers are traveling to.Focusing on this will help Intercontinental Hotel Group (IHG) to provide the best serviceaccording to their requirements (Bourreau, Sun and Verboven, 2018).Demographic Segmentation: In this segmentation, consumers are divided on the basisof their gender, age, income, social class and lifestyle. This help them in understandingtheir customers better. There are various types of consumers, for example, Business FIT(Free Independent Traveler), Pleasure Group, etc depending upon their purpose behindtraveling. Understanding these factors will be very useful for them to improve theirservices.Psycho-Graphic Segmentation: In this type of segmentation, customers are divided onthe basis of their thinking and what they feel and behave about the hotel. This will helpIntercontinental Hotel Group (IHG) to understand their customer's nature more precisely. Importance of Market Segmentation: There is a huge advantage of this process for the hotelindustry. This will help them to understand the strategic position and market orientation ofVietnam in expanding their business there successfully (Bourreau, Sun and Verboven, 2018). 2.2 SWOT analysis of Hotel in the Emerging marketIt is very important for the Intercontinental Hotel Group (IHG) to analyze their emergingmarket and self-capabilities by applying SWOT analysis, which will help them in understandingtheir strength and weaknesses that can help them in analyzing the opportunities and threats. Itrequires a thorough understanding of each of the variables that have significant influence in2
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