Strategic Planning for the Hospitality Industry

Strategic Planning for the
Hospitality Industry 11

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Critical analyse of most appropriate factors for implementing a strategy...................................1
Researching about creative business strategies of organisational future strategy selection for
being competitive in hospitality industry.....................................................................................3
Analysis and evaluation of distinct performance metrics............................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Strategic planning is continuous process and art of creating unique business strategies,
understanding them, implementing and evaluating the by formulating plans that can help to
increase the performance and profitability. The word strategy is very effective that being uses to
manage the task and increasing the abilities for the purpose of generating higher income and
revenues (Vij, 2019). The aim of every organisation is to analysis the situation and formulate
plans for the purpose of increasing business performance and maintain higher profitability. This
can help to develop the new ideas and thoughts for accomplishing business goals and foster the
entrepreneurship by contributing in success. This report is based on The Waldorf Hilton Hotel
that is providing better quality of foods and services to its customers. The management of such
hotel understand the changes and bring new technology for maintaining competitive advantages.
This report covers factors implementation by organisation, creation of business strategies that
become competitive in hospitality industry and performance metrics that uses to measure
performance.
MAIN BODY
Critical analyse of most appropriate factors for implementing a strategy
Strategy can be said to a general plan that is adopted by firm to achieve all the short and
long term objectives within uncertain situations. It is crucial for al business to devise a strategy
as it is key element for becoming successful. It is direction together with scope of business over
long term (Bagnaresi, Barbini and Battilani, 2019). Moreover, strategy assists in attaining
benefits for the company by configuration of resources in dynamic and challenging business
environment for the purpose of meeting market needs addition to fulfilling stakeholders
expectations. The Waldorf Hilton is franchisee of Hilton Hotels and Resorts. The company
features wide number of guest rooms that also includes suites. While implementing franchising
strategy, there are certain appropriate factors which are required be consider by managers. In
case with The Waldorf Hilton, the suitable factors to execute franchising strategy are as
analysed:
Commitment: It is an agreement of pledge to perform things or actions with full
dedication. It initiates at top, however it should not end there. While implementing a strategy,
commitment is a key factor as it requires commitment from all people including management
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