Strategic Hospitality Management: Formulation, Analysis, and Implementation

Strategic hospitality
management

Table of Contents
INTRODUCTION...........................................................................................................................3
Aim of the report:-......................................................................................................................3
Objectives of the report:-............................................................................................................3
FORMULATION OF CORPORATE STRATEGY........................................................................3
Corporate strategy formulation and strategic management in hospitality industry....................3
Strategic management models and analytical tools....................................................................5
Pestle analysis.............................................................................................................................5
CRITICAL ANALYSIS OF THE INDUSTRY PRACTICES........................................................6
Choice of literature......................................................................................................................6
Process of corporate strategy formulation in hospitality sector..................................................7
Implementation of corporate strategy and strategic management process..................................8
Issues and challenges of implementation..................................................................................10
Discussion on effectiveness......................................................................................................10
Understanding hospitality operations at national and global level...........................................11
CONCLUSION..............................................................................................................................11
Inclusion of key points..............................................................................................................11
Reflection..................................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Strategic hospitality management refers to the requirement of creating as well as
implementing all goals and objectives whose main focus is on specific industry in order to
enhance the production level of an organisation. In context with hospitality industry it is needed
for unity and providing directions in relation with achieving goals. It helps a company to fulfil
each goal in a effective way(Le and Phi, 2021). The main purpose of strategic management is to
reach at the sustainable strategic competition in whole market. The below report involves aim,
objectives, formulation of corporate strategy, critical analysis of whole industry practices
followed by conclusion. The report is based on Travelodge, UK. It is a private company dealing
in Hotels and hospitality industry. It is one of the largest independent hotel industry which has
around 570 hotels across UK.
Aim of the report:-
To examine the concept of strategic management over decision making process.
Objectives of the report:-
 To analyse the basic concept of strategic management models and theories.
 To examine the role of technology in hospitality operations and in delivery of services
 To identify the roles and advantages of CSR in context with hospitality organisation
FORMULATION OF CORPORATE STRATEGY
Corporate strategy formulation and strategic management in hospitality industry
Strategy formulation is defined as the procedure of identifying and implementing all
goals and objectives with respect to an organisation and determining the best plan of action
among all strategies which are available at certain point of time. It allows whole organisation to
determine all its resources by offering a financial plan and also choosing the best action plan of
action so that the company can increase their profits(Kim, Kim and Wang, 2021). There are
certain steps in corporate strategy formulation and these are implementing organisational goals,
analysis of whole organisational environment, forming quantitative goals, all objectives in
relation with divisional plan, analysis of whole performance and ultimately the selection of best
strategy. In relation to strategic management applied in hospitality industry it is further been
explained as below:-

In hospitality industry it is very important to have a strategic management process. It is
necessary in order to set up proper directions and a sense of identity so that all goals and
objectives can be achieved. A hospitality organisation always set up a specific vision and
mission so in context with Travelodge also they enabled their mission for a long period of time
and due to this only they achieved growth in their particular sector. They implemented various
management structures which is the most important thing to develop themselves. There are
certain steps in strategic management which every organisation follows like goal setting, analysis
and so on. In context with hospitality industry it is been explained as below:- Setting up goals:- It is defined as the main vision of an organisation. The company set up
its goals for both short term as well as for longer period of time. To fulfil such goals a
proper procedure is to be followed(Cardoso and et.al, 2021). In relation to hotel
Travelodge also, they also had set up all their goals. Their main vision is to offer best
lodging facilities to all guests and high quality standards in relation to both rooms and
food and beverages. Analysis:- It includes the collection of data which is needed to achieve all goals and
objectives. It also involve the proper understanding of needs in relation to specific
business. In context with hotel Travelodge also, they gather information to analyse which
of their channel takes most of the bookings and which channel needs some kind of
improvement. Strategy formulation:- An organisation can achieve success only if it has all type of
resources and tools which are necessary for them to achieve success. They must
formulate all resources in a proper manner so that they can succeed. In relation to
Travelodge also, they examined and formulated all their resources by managing them in a
strategic manner. Strategy implementation:- While formulating all strategies the plan for its
implementation should be properly set up so that everyone working in the organisation
understand whole procedure and gets information about their responsibilities(Im, Kim
and Miao, 2021). Hotel Travelodge communicated all their strategic plan and through this
employees get to know about their duties.