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Strategic Management in International Hotel Industry | Marriott
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Added on 2019-11-19
Strategic Management in International Hotel Industry | Marriott
Added on 2019-11-19
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Running Head: STARTEGIC MANAGEMENT 1Strategic Management: Marriott Hotel West India Quay
STARTEGIC MANAGEMENT 2Table of ContentsBackground to International Hotel Industry (and tourism).............................................................3Background to Hotel Company.......................................................................................................3SWOT Analysis of Marriot West India Quay.................................................................................4Strengths.......................................................................................................................................4Weaknesses..................................................................................................................................5Opportunities................................................................................................................................5Threats..........................................................................................................................................6Background to Global Hotel and Tourism Industry – developed and emerging markets...............6Background to Emerging markets...................................................................................................7Thailand as Emerging market for Marriott West India Quay..........................................................7PEST of selected emerging market (Thailand)................................................................................8Political........................................................................................................................................8Economic.....................................................................................................................................9Social Factors...............................................................................................................................9Technological factors...................................................................................................................9Analysis of SWOT and PEST..........................................................................................................9Porter’s Generic Strategies............................................................................................................10Cost Leadership strategy............................................................................................................10Differentiation Strategy..............................................................................................................10Ansoff Matrix................................................................................................................................10Product Development.................................................................................................................10Market Penetration.....................................................................................................................11Market Development..................................................................................................................11Nykiel ‘s Fourteen growth options................................................................................................11Justification of strategy..................................................................................................................13Practical application of strategy – 5 and 10 years ahead...............................................................13Conclusion.....................................................................................................................................13References......................................................................................................................................14
STARTEGIC MANAGEMENT 3Background to International Hotel Industry (and tourism) International hotel and tourism industry plays a robust role in global economy. The primary foundation of hospitality and tourism industry is built upon guests and customers services, whichwork as an element that is shared by every division of hotel business. As per the figures of WorldTrade Market (WTM) Report 2016, international hotel industry is a global industry, which is growing very fast. This report indicates that international hotel industry is developing at 4% per year and it offers 7$ trillion annually to World Domestic Gross Product. The facts and figures from the report show that number of tourists has been doubled during last twenty years and it is forecasted to increase twice in coming years. International hospitality market is very profitable for the growth of economy of any nation, because it provides employment, growth and career opportunities to the people of that country (Solberg & Durrieu, 2008). There are so many reasonsbehind the growth of international tourism and hotel industry, like; globalization, technology development and demographics etc. According to WTM industry and UNWTO Tourism Highlights, there are so many countries, which have emerging markets and economy. It is beneficial for the organization to expand their business in these countries. Background to Hotel Company The Marriott West India Quay is a 5-star luxury hotel in London, United Kingdom. The organization is located at 22 Hertsmere Road, Canary Wharf supervising West India Quay Marina. Marriot West India Quay Hotel is operated and managed by Marriot Hotel group. The hotel has 301 rooms in the property. The hotel property is owned by a property developer, i.e. John Christodoulou. The company offers an exceptional hotel and guest experience in the heart of Canary Wharf. It is perfectly designed and ideally located and provides a perfect setting for the leisure and business travellers. The luxury hotel offers the room with all the amenities, like; spacious room and suite, mini-bar, flat screen TV and floor- to-ceiling windows with the sceneries of London Docklands (Marriott International, 2017). It also provides a fitness center for the guests to do morning workout. There are some additional facilities, like; business center, 20 versatile event spaces. The most important thing about Marriot West India is that it is located
STARTEGIC MANAGEMENT 4at the location, from where it is very easy to explore most famous attractions in London, like; Olympic Park ad O2 Arena. SWOT Analysis of Marriot West India QuaySWOT analysis is an important technique for analyzing the internal and external factors of an organization. An organization can adopt SWOT analysis this tool to analyze its strengths, weaknesses, opportunities and threats. These factors may impact the growth and success of organization. Strengths Global Leader Marriot West India Quay is operated by Marriot Group that is one of the largest hotel groups in the world. It is an international leader in the global hospitality and tourism industry, with approximately 5% share value and a large market and geographic presence (Ashton and Chootiraka, 2016). Strong Internet PresenceMarriot West India Quay has strong presence on internet and social media networking sites. The website of the company guarantees the best process available, appealing the price conscious consumers away from websites of other hotel companies. Technology Innovations Along with Marriott West India Quay, all the hotels of Marriott International Group are adoptingadvanced technology and upgrading its hotel property with technology innovations. It fulfills the needs and wants of leisure and business travellers (Beaman, Cohen and Isin, 2014). The company is transforming its areas to motivate the guests to socialize and work by adopting the latest technology and design, food and beverages. Location advantage In London, Marriott West India Quay Hotel is situated in the prime location, from where it is very easy for the guests to explore the most attractive tourist destinations of the city. It is
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