Strategic Management in International Hospitality: A Case Study of Hyatt Regency
Verified
Added on 2023/01/23
|3
|883
|21
AI Summary
This report focuses on strategic management within the international hospitality sector, using Hyatt Regency as a case study. It examines the company's mission, goals, and vision, as well as competitive analysis and positioning map. The report also discusses Hyatt Regency's market presence and growth strategies.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Report 1 Presentation Summary This presentation is mainly focused on strategic management within international hospitality sector. To do so, we have chosen the great global hospitality managing entity as the Hyatt Regency. The Hyatt Regency is an international hospitality company which has demonstrated a long-term strategic management for the world hospitality managers. In this context, an overview of the company has been provided within the PPT. Inthiscontext,thecompany’smission,goalsandvisionhavebeenassessed thoroughly in a way that company’s present position and opportunities can be evaluated. Mission of this chosen company is to create difference by providing quality in their services worldwide. Besides, vision of the Hyatt Regency is to understand the international people and offer intense care to all of them (Hyatt, 2019). In addition, a competitive analysis has been done in the context of its three main competitors such as four seasons, Accor hotels and Hilton hotels and resorts. The shown graph is showing the comparison of the three hotels in comparison to each other (Enz, 2009). On the other hand, a great map tool; positioning map has been used for the comparison and hence through using this map we have compared the 4 hotels. For comparing the 4 hotel entities, we have used comparison factors include room quality, service quality, amenities atmosphere, layout and décor as well. Moreover, positioning map has been drawn with the help of recent reports and data over the 4 hospitality companies. By drawing the map, we have identified the relative position of the Hyatt Regency while considering all of its major competitors. Hyatt’s business offerings have been considered for allocating the position to the hotel company. In addition, factors like price, quality, products and services have been also considered while we plotted the positioning map of the Hyatt Regency (Hyatt, 2019). In this context, positioning map is having two main axes include price and quality which are situated horizontally and vertically respectively. Hence, for plotting the two we have taken five international hospitality brands include Brand A: Accor hotels, Brand B: Hilton hotels, Brand C: Hyatt Regency, Brand D: Four Seasons and Brand E: Starwoods (Woo Gyon Kim & Hyun, 2008).
Report 2 In order to support the drawn positioning map, slide-8 is containing the data including factors like rank, company, leadership, CEO score, employers, total funding and revenue in the context of the Hyatt Regency (Morphew, 2009). From the perspective of international business and market for the Hyatt Regency, recent data sources have been considered. As per the recent figures and news, Hyatt is leading the international hospitality market by developing the business in every possible direction (Buhalis & Crotts, 2013). Besides, the hotel company is enhancing their global presence by expanding its units worldwide. The strategy for expanding the business is being focused on increasing the number of units while focusing on popular business sites (Bhavani, 2013). In addition, strategy of growing low budget hotels while also opening franchises and converting existing hotels into luxury ones is helping the Hyatt Regency to grow their business within the international hospitality market (Nickson, 2013). In whole, the Hyatt Regency is continuously managing their unique differentiating features like empathy, humility, integrity, creativity and respect for the clients with the help of strategic hospitality management worldwide (Hyatt, 2019). References Bhavani, M. (2013). Customer’s expectations of hospitality services–a study on five star hotels in Hyderabad city.Journal of Management and Science, 3(4), 16-22. Bowie, D., Buttle, F., Brookes, M., & Mariussen, A. (2016).Hospitality marketing.London: Routledge. Buhalis, D., & Crotts, J. (2013).Global alliances in tourism and hospitality management.LOndon : Routledge. Enz, C. (2009).Hospitality strategic management: Concepts and cases.UK: John Wiley and Sons. Hyatt. (2019).OUR COMPANY. Retrieved from Hyatt: http://investors.hyatt.com/investor- relations/our-company/default.aspx Nickson, D. (2013).Human resource management for hospitality, tourism and events.London: Routledge. Senior, M., & Morphew, R. (2009). Competitive strategies in the budget hotel sector.international journal of Contemporary Hospitality Managemnt, 2(3). Woo Gon Kim, B., & Hyun, J. (2008). Multidimensional Customer-Based Brand Equity and Its Consequences in Midpriced Hotels.Journal of Hospitality & Tourism Research, 32(2), 235- 254.