Hilton Worldwide Business Analysis

This assignment requires a comprehensive analysis of Hilton Worldwide's business performance, focusing on its strengths, weaknesses, opportunities, and threats (SWOT). Students must evaluate the company's financial health, brand positioning, market share, and operational efficiency. The analysis should also examine Hilton's growth strategies in the context of a dynamic and competitive hospitality industry. Key areas to consider include expansion plans, technology adoption, customer loyalty programs, and responses to emerging trends such as the sharing economy.

0Running head: STRATEGY MANAGEMENT
Strategy Management

1STRATEGY MANAGEMENT
Executive Summary
Hilton is an international premium hotel chain that provides its services in six continents
through more than 570 properties; the company is popular among high-income individuals
that are looking for high-quality hospitality services during vacations or business meetings.
The company operated in hospitality industry; both consolidation and fragmentation co-exist
in the hospitality industry because in developed countries the industry has consolidated, and
in emerging markets, the industry is fragmented. In previous five years, Hilton has seen a
positive pattern in numbers of revenue, employees, and properties. The core competencies of
Hilton include a strong brand image, expertise in industry, effective value chain and
implementation of the latest technology in operations. The value chain of the firm is divided
into two parts to perform support and primary activities.
The strengths of Hilton include a positive brand image, effective customer relationship,
digitalisation of operations and market expertise; the weaknesses include high debt,
overdependence on the US and lack of flexibility in operations. The company faces various
threats such as high competition, changing customer perspective, and political instability, but,
it has various future opportunities as well to address such risks such as expansion in mid-
level budget hotels, growth in emerging markets, and use of technology to improve
operations. The business strategy provides a competitive advantage to Hilton because of
customer service expertise and brand image. The strategic direction of the company is
focusing towards simplifying its values to accomplish organisational objectives by expanding
its market share.

2STRATEGY MANAGEMENT
Table of Contents
Introduction................................................................................................................................3
Overview of the Company.........................................................................................................3
Industry Analysis.......................................................................................................................5
Growth Pattern...........................................................................................................................7
External Analysis.......................................................................................................................9
Internal Analysis......................................................................................................................10
Core Competencies..............................................................................................................10
Value Chain..........................................................................................................................10
SWOT Analysis.......................................................................................................................13
Business Level Strategy...........................................................................................................14
Corporate Level Strategy.........................................................................................................14
Strategic Direction Summary...................................................................................................15
Future Strategy Recommendations..........................................................................................15
Conclusion................................................................................................................................17
References................................................................................................................................18
List of Figures
Figure 1: Porter's Five Forces....................................................................................................5
Figure 2: Hilton Hotels Growth from 2012 to 2016..................................................................7
Figure 3: Hilton Hotels Annual Revenue (in US Dollars Billion).............................................8

3STRATEGY MANAGEMENT
Introduction
Strategy management defines the major targets and initiatives which are formulated and
implemented by a corporation’s top-level management on behalf of shareholders. These
initiatives and goals are based on assessment and consideration of the internal and external
environments in which the company operates. This report will analyse the strategic
management of “Hilton Worldwide” by analysing various internal, external, industrial,
corporate, and business factors. Further, the report will include SWOT, PEST, and 5 Forces
analysis of the company and discuss its business and corporate level strategy to evaluate its
strategic direction.
Overview of the Company
Hilton Hotels & Resorts is an international full-service hotel and resort chain; Conrad Hilton
founded it in 1919. The company operates in the hospitality industry, and it is one of the
largest hotel chains in the world with more than 570 hotels. The services of Hilton hotels
target both businesses and leisure travelers because they are situated near airports, major
cities and famous holiday destinations throughout the world. As per Hilton annual report, it
has revenue of US$11.6 billion in 2016 (Hilton, 2016).
Market Share
In domestic markets, i.e., United States, the company has a market share of 9 percent, and in
international markets, it has 5 percent market share. In the Middle East, it has 3 percent
market share, whereas in Europe and Asia Pacific region it has 1 percent market share
(Cederholm, 2014).
Scope
The company operates in 14 industries including hotel and restaurant, hospitality sector, pub,
school meals, gambling, nightclubs, catering for parties, travel services, food contract,
conferences and many others (Hilton, 2016). Hilton provides various amenities and services
to its guests in order to improve their experience such as bed & breakfast, pick up facility,
instant bookings, advance purchases, free Wi-Fi, late checkouts, breakfast buffet, discounted
rates for military families, family fun packages, membership savings and many others.

4STRATEGY MANAGEMENT
Target Markets
Geographic Segmentation — mainly, the company focuses on domestic preferences and
location.
Demographic Segmentation — the target demographic of the corporation include middle or
senior aged individual professionals who belong to an upper social class and earn a high level
of income and who pursue luxury lifestyle.
Psychographic Segmentation — it includes ambitious peoples who prefer to express their
accomplishments and high status by staying in a 5-star hotel and paying for premium rooms
and services.
Benefits Segmentations — the company primarily benefit its guest by providing them high
status in society, sense of achievement and luxury facilities.
Mission
The corporation’s mission is to become the most hospitable organisation in the world by
providing warm experience to guests, significant opportunities to employees, maximising
shareholders value and positively influencing the society.
Vision
The company’s vision is to fill the world with the goodness of hospitality by providing each
guest an exceptional experience every time in each hotel.

5STRATEGY MANAGEMENT
Industry Analysis
The Porter’s five forces is a framework for analysing five different forces that influence the
competition in the industry; Michael Porter developed it. Hilton Worldwide operates in the
hospitality industry; both consolidation and fragmentation co-exist in the hospitality industry
because both of them pose opportunities and threat for the businesses (EHL, 2017). For
example, in the United States, the industry has already consolidated and benefited from it,
whereas, in European countries, hotels remain to be fragmented. As per the research of Rael
(2016), profitability potential in the hospitality industry is high as long as companies are able
to increase occupancies. The hotel corporations can provide a high level of services to boost
occupancies which resulted in enhancing profitability ratio; Hilton hotels are already in
premium services markets which is beneficial for its profitability.
Figure 1: Porter's Five Forces
(Source: CGMA, 2013)
Rivalry among existing firms
The competition between premium hotel industries is aggressive; the competitors of Hilton
include Radisson Blu, Marriott, Sheraton, Westin, Accor SA, Hyatt Hotels and many others.

6STRATEGY MANAGEMENT
Hilton worldwide spend heavily on service infrastructure, therefore, it is enjoying a growth of
106.67 percent while other competitors are growing at 61.98 percent (Borttarelli Research,
2016).
Bargaining power of suppliers
Hilton Worldwide has more than 4000 suppliers globally, and their bargaining power is low;
Hilton order in paramount value, therefore, supplier did not switch or increases cost (Hilton,
2016). Hilton also implemented a Supplier Diversity Program to promote and develop
socially diverse suppliers; this program provides them addition competitive ground in
between diverse suppliers.
Threat of substitute products or services
In the hotel industry, the risk of substitute services is not significant. The substitute of hotel
services includes peoples living in friends or family homes or renting apartments for small
periods. Modern technology has improved the process of hotel booking by providing online
services, therefore, the threat of substitute is low.
Bargaining power of Buyers
The negotiating power of buyers is high in hotel industry because it is easier for guests to
access information of multiple hotels and selects the most suitable hotel based on their
preference. The guests are price sensitive, and they use online data to compare price of
different hotels, and the cost of switching is considerably low.
Threat of New Entrants
The initial investment in the hotel industry is considerably high which create a barrier for
new entrants, but many of barriers have been removed due to the popularity of internet-based
services and effective communication channels. A key barrier is differentiation; the firms
which have effectively differential its value and services based on location, amenities, and
services is a potential risk for new entrants. Hilton hotels have a strong brand presence, and it
is popular among high-income individuals, therefore, the threat of new entry is low (Porter,
2008).

7STRATEGY MANAGEMENT
Growth Pattern
Hilton hotels have been profitable in previous five years; the company is constantly
expanding its business in new areas along with a number of employees.
2012 2013 2014 2015 2016
0
1000
2000
3000
4000
5000
6000
Hilton Hotels Growth
Figure 2: Hilton Hotels Growth from 2012 to 2016
(Source: Statista, 2017)
The number of Hilton hotels has grown from 3861 to 4856 in from 2012 to 2016; the
company is expanding its business in BRICs markets, i.e., Brazil, Russia, India, and China.

8STRATEGY MANAGEMENT
2012 2013 2014 2015 2016
0
2
4
6
8
10
12
14
Hilton Hotels Annual Revenue (in Billion)
Figure 3: Hilton Hotels Annual Revenue (in US Dollars Billion)
(Source: Statista, 2017)
The revenue of Hilton hotels has increased substantially in previous five years; the initiatives
of company such as Hilton honours program, free Wi-Fi, discount rates for military family,
breakfast in bed, online booking and other premium services are attracting a large number of
guests to the company. In 2013, Hilton launched a new dining concept called Herb N’
Kitchen throughout its branched worldwide. In 2016, Hilton marked its presence in 100
countries by opening Hilton N’Djamena in Chad (Hilton, 2017).

9STRATEGY MANAGEMENT
External Analysis
PEST analysis is a strategic analytical tool that analyses the effect of political, economic,
social and technological factors on business and evaluates its long-term growth prospects.
Political Factors
Hilton welcomes tourists and business travelers in its hotels and threats such as terrorism and
significant political change adversely affect its business. Terrorists act in London on 7th July
2015 and few areas in Northern Ireland has reduces the number of travelers. The decision of
UK to exit EU (Brixit) has also influenced the business of Hilton hotels (Ozturen,
Sumaneeva, Gashenenkov and Meredova, 2017).
Economic Factors
The domestic and international macroeconomic factors and events affect the business of
Hilton hotels, for example, in 2012, Olympics were scheduled in UK and hotels were fully
occupied for the entire period, but otherwise, it is difficult for premium hotels to attract
guests during the financial crisis (Wu and Liang, 2009).
Social Factors
A variety of social factors influences the business of Hilton hotels such as growing
population, customers’ preferences, family preferences, demographic variables and social
media popularity. For example, people preference is shifting towards traveling due to
popularity of traveling websites, blogs, and social media pages. New customers are emerging
in countries such as India and China; the family preferences of people increase or decrease
the number of consumers staying in the hotels (Sigala, Christou and Gretzel, 2012).
Technological Factors
The rapid growth in technological infrastructure has a significant influence over Hilton
hotels; the companies operating in the hospitality industry have to effective use energy
sources and provide their service through online platforms (Buhalis and Law, 2008). Further,
the simplicity in online hotel bookings has increased the number of guest for Hilton hotels.

10STRATEGY MANAGEMENT
Internal Analysis
Core Competencies
The core competencies of Hilton hotels include customers facilities, strong brand image,
dedicated and skilled staff, gambling license, customer support, positive culture, and talent
acquisition because it is difficult for competitors to duplicate such practices since it requires a
high level of investment and expertise. Further, the company provides its services in more
than 80 countries and situated near most of the popular destinations which make them the
obvious choice for wealthy travellers. The online rating of Hilton on hotel booking websites
and customers reviews prove that the company delivers their promise, and they are one of the
best when it comes to premium services. Yu (2017) conducted research for Forbes that
provided that Hilton and Marriot hotels are two of the highest earning hotel corporations, and
they have beaten all their competition.
Value Chain
The value chain analysis assesses information regarding business activities of the Hilton
hotels that provide them a competitive advantage and creates value. Hilton hotels have
successfully implemented an efficient value chain that adds value to its operations and sustain
its future growth. The business activities are divided into two sections: primary and support.
Support
Activities
Primary Activities
Firm Infrastructure
Human Resource Management
Technology Development
Procurement
Inbound
Logistics
Operations Outbound
Logistics
Marketing
and Sales
Services

11STRATEGY MANAGEMENT
Support Activities
The support activities of Hilton hotels are divided into four sections:
 Firm Infrastructure: Hilton is an international hotel chain, and they are known for
excellent hotel infrastructure and premium services. The company focuses on critical
factors such as quality, cleanliness, atmosphere, facilities, and maintenance across all
its branches. Especially, Hilton hotel focuses on cleaning rooms and common area
and providing comfort to its guests in a professional manner. These facilities improve
guests’ experience and add value to Hilton’s value chain.
 Human Resource Management: To deliver high-quality services, Hilton provide
training to its management and ground level staff to teach them how to provide
services guests professionally. The HR department focuses on hiring right attitude
employees who possess required skills and knowledge regarding hospitality industry.
Hilton has insisted two programs for its employees, on the job and off the job training;
each employee learn necessary in these two training programs. The company also
focus on motivating its workers by providing monetary or non-monetary rewards
based on their performance. Furthermore, company provides shares to its employees
at discounted rates; employees who are working for more than two years can sell
these shares in the stock market. By selecting qualified employees, Hilton adds value
to its operations and sustains future growth.
 Technology Development: Hilton provides online services to improve customer
satisfaction and provide faster customer support facilities. The technology department
has developed online website and mobile applications that enable customers to check
hotel prices and book them through the application easily. The Hilton honours
application provides special discounts to guests that visit Hilton more than one times;
it encourages customers to choose Hilton for every vacation or office meeting.
 Procurement: The primary objective of Hilton is to provide a premium level of
services to its customers, therefore, management seeks supplier that can provide high-
quality products to the company and also fulfill its requirements. The suppliers of
Hilton are required to be friendly and must not conduct any unethical activities that
can affect company or guests, therefore, management carefully select suppliers.
Primary Activities

12STRATEGY MANAGEMENT
 Inbound logistics: The inbound logistics and supply chain management allow smooth
operation in Hilton hotels by directly trade with suppliers and negotiate their prices. The
distributors also manage activities relating to delivery and warehousing that reducing
organisational risks (Hilton, 2016).
 Operations: Hilton hotels operations are divided into three segments:
 Ownership division: It includes 146 hotels that consist of 59,463 rooms that are
owned and rented by Hilton.
 Franchise segment: It consists of 4,419 hotels that have 691,887 rooms that are
licensed and managed by Hilton Worldwide. The company franchised 3,875
hotels that consist of 533,039 rooms to third parties.
 Timeshare section: It consists of 45 properties comprising 7,152 units; this
division engaged in selling and marketing activities.
 Outbound Logistics: It refers to actions relating to delivery of finished products and
services; Hilton provide high-quality services to its guest as advertise by the company and
delivery good with secure transportation that provide them a competitive advantage.
 Marketing and Sales: This section includes marketing and sales department that focuses
on promotion and communication of its services to target customers. The Hilton honour
program has become marketing success for the company which encourages customers to
choose Hilton every time they travel.
 Service: This stage includes various facilities provided by Hilton to its customers, such as
customers support, complaints, training, sale service and others. The complaints lodged
by the customers handle at the highest priority by the company.

13STRATEGY MANAGEMENT
SWOT Analysis
Strengths Weaknesses
 Strong brand recognition and positive
market reputation
 Effective customer retention schemes,
such as Hilton Honours
 Digital innovations to improve
customers hotel experience, such as
hassle-free online booking, mobile
application
 Strong property portfolio, i.e., 570
properties in six continents
 Strong and effective leadership, i.e.,
Christopher Nassetta
 Market expertise, i.e., been in industry
for 98 years
 Overdependence on the United States
market, i.e., only 3 percent market
share in European and Asia Pacific
counties and 5 percent share in global
markets
 Adverse influence over business and
operations due to government
regulation, such as Brexit
 High level of debts
 Lack of flexibility in operations and
management due to its large size
Opportunities Threats
 High potential for growth in emerging
markets, i.e., BRIC nations
 Formation of strategic alliance
 Digitalisation of operations and use of
technology in improving customers
experience, for example, use of
mobile application as ticket,
identification and room key
 Increasing operations in mid-level
budget hotel industry
 Investment in research and
development to understand guests
requirements
 Entry of international and local
competitors in hotel industry
 Premium price services that only
attracts wealthy guests
 Stagnated growth
 Political instability and terrorist
threats, for example, terrorist attack
on 7th July 2015 in London
Opportunities and Threat on the Horizon
Opportunities Threats
 Popularity of smartphones can assist
Hilton in providing hassle-free hotel
experience, for example, lack of
requirement for physical
identification and using NFC in
phones to use it as a room key
 Offering mid-level budget room in
emerging markets, such as BRIC
nations
 Risk of terrorist attacks and mass
shooting reduces the number of
tourists, for example, Hilton is over-
dependent on US markets, and
increasing rate of mass shooting
reduces the number of travelers
 The popularity of alternative
services, such as Airbnb, creates a
threat for the hotel industry. For

14STRATEGY MANAGEMENT
example, Airbnb offers low prices
and new experience which attracts a
large number of customers
On the Horizon
Currently, Hilton Worldwide is taking full advantage of modern technology to enhance its
guests’ experience, for example, customers can browse, select, pay, and cancel their order
through Hilton’s mobile application. Recently the threat of Airbnb has grown in hotel
industry due to its low prices. The hotel industry is using legal route to defeat this threat,
many hotels, including Hilton, are filling lawsuits against the company since many of its
offers are against the local housing regulations (Coldwell, 2014).
Business Level Strategy
Competitive advantage
 The company pays close attention to details which improve its customer experience
and provide them a competitive advantage.
 Hilton hotels are available in travel destinations throughout the world, and they are
equipped with internet, self-service, premium services and others.
 Providing high-speed internet and easy online services allow the company to gain
competitive advantage.
Marketing Strategy
Hilton hotels focus on connecting at an emotional level with its customers and provide them
premium traveling experience. The company started a campaign called ‘Travel takes you
places’ which resulted in boosting its sales. The corporation also uses many other advertising
campaigns such as ‘Tomorrow’s a big day’ and ‘Hilton Honours’ to attract customers.
Corporate Level Strategy
Hilton hotels have adopted a Value-adding corporate-level strategy that focuses on increasing
number of customers by adding value to company’s operations. The company is using its
competitive advantages to diversify its business; it is already listed under full-service brand,
focused service brand, timeshare brand and luxury hotel brand (Cederholm, 2014). The

15STRATEGY MANAGEMENT
corporation is opening new restaurants to provide premium dining experiences to its guests.
Hilton Worldwide is focusing on opening new hotels in emerging markets to increases its
market share in international markets (Livemint, 2017). The use of the latest technology and
guest’s specific facilities allow Hilton to maintain its position of competitive advantage over
time. The company is equipped with the professional legal team and effective management
staff that formulate strategic policies to ensure the company is prepared for future risks. For
example, Airbnb has been a significant threat for hotel industry which has gained 10 percent
of the market; therefore, Hilton along with other premium hotel chains is filing legal suits
against the company because it violates various local housing laws. The team of professionals
adds value to Hilton hotels and enable them to face future threats.
Strategic Direction Summary
According to Christopher J. Nassetta, CEO of Hilton Hotels, the company’s strategies are
focused on facing future leadership challenges and expanding its market share in the
hospitality industry (Office, 2012). The strategies of the corporation have been focused on
transforming and achieving its organisational objectives. As per Nassetta, future strategies are
directing towards accomplishing corporate goals and expanding Hilton’s global market share
in the hospitality industry (Office, 2012). Nassetta stated that the company is simplifying its
value statements because customers find it difficult to understand its values; the corporation
is creating intense alignment around its value, mission, vision and key strategic priorities that
can be achieved by establishing right corporate culture. The direction of Hilton corporate
strategies is towards becoming world’s number one premium service hotel and providing the
best possible services to its guests in order to improve their traveling experience.
Future Strategy Recommendations
The core competencies of Hilton Worldwide, such as skilled staff, premium services,
availability near popular destinations and effective value chain, allow it to expand its business
globally. The future strategy of Hilton should include following:
 Expansion in BRIC market
 Mid-level budget offers
 Digitalisation of operations

16STRATEGY MANAGEMENT
The BRIC markets provide significant opportunities to Hilton Worldwide because they are
emerging market in which Hilton can capture a large number of market share. The
governments of BRIC markets also initiate various programs to promote international
companies to expand their business in the country because it increases employment, economy
and national income. Hilton can collect tax incentives and other grants to expand their
business and increase their market share easily. Hilton should start offering mid-level budget
rooms to expand its customer base. People’s perspective has changed, and they prefer quality
services at an affordable price; in BRIC markets most of the customers are belonged to
medium income group, and mid-level budget offers will increase the number of Hilton’s
guests. The threat of Airbnb has also grown for Hilton because they provide affordable
prices; therefore, mid-level budget rooms will assist Hilton in competing with Airbnb. Using
technology in operations improves their reliability and usability, similarly, Hilton can
improve its service by using the latest technology. The company should improve its mobile
application by adding new features for refining the guest’s experience. The future strategy of
Hilton should include these points as it will assist them expanding their market share and
sustain future growth.

17STRATEGY MANAGEMENT
Conclusion
From the above observations, it can be concluded that Hilton Worldwide is an international
hotel chain that provides high-quality services to its guests in order to improve their traveling
experience. The company’s primary strengths are its strong brand image, market expertise,
digitalisation of processes and strong value chain. Various external factors affect the business
of Hilton such as political policies, legal issues, environmental factors and others. The
weaknesses of Hilton hotels include changing customers’ perspective, overdependence on US
market, high level of debts and increasing competition. To face these challenges, the
company is focusing on creating strategic planning with the help of industry professionals to
maintain its competitive advantage. Strategies of the company are directing towards
simplifying its values and accomplishing organisational objectives by building policies based
on its strengths.

18STRATEGY MANAGEMENT
References
Amigobulls., 2017. Hilton Worldwide Revenue, Profits - HLT Annual Income Statement.
[Online] Amigobulls. Available at:
https://amigobulls.com/stocks/HLT/income-statement/annual [Accessed on 23/11/1017]
Borrarelli Research., 2016. Hilton is Getting Punished for 106% Growth. [Online] Available
at: http://www.bottarelliresearch.com/free/charts/2016/07/27/hilton-getting-punished-106-
growth [Accessed on 23/11/1017]
Buhalis, D. and Law, R., 2008. Progress in information technology and tourism management:
20 years on and 10 years after the Internet—The state of eTourism research. Tourism
management, 29(4), pp.609-623.
Cederholm, T., 2014. Hilton’s diversified portfolio with 11 world-class brands. [Online]
Market Realist. Available at: http://marketrealist.com/2014/10/hiltons-diversified-portfolio-
11-world-class-brands/ [Accessed on 23/11/1017]
Cederholm, T., 2014. Overview: Hilton Worldwide Holdings Inc. [Online] Market Realist.
Available at: https://beta.marketrealist.com/2014/10/overview-of-hilton-worldwide-holdings-
inc [Accessed on 23/11/1017]
CGMA., 2013. Porter’s Five Forces of Competitive Position Analysis. [Online] CGMA.
Available at: https://www.cgma.org/resources/tools/essential-tools/porters-five-forces.html
[Accessed on 23/11/1017]
Coldwell, W., 2014. Airbnb's legal troubles: what are the issues?. [Online] The Guardian.
Available at: https://www.theguardian.com/travel/2014/jul/08/airbnb-legal-troubles-what-are-
the-issues [Accessed on 23/11/1017]
EHL., 2017. Will globalization fragment or consolidate the hospitality industry?. [Online]
EHL. Available at: https://blog.ehl.edu/lausanne-report-shaping-the-future-of-hospitality-1
[Accessed on 23/11/1017]
Hilton., 2016. A History of Firsts. [Online] Hilton. Available at:
http://www3.hilton.com/en/about/hilton/history/index.html [Accessed on 23/11/1017]

19STRATEGY MANAGEMENT
Hilton., 2016. Annual Report. [Online] Hilton. Available at:
http://www.corporatereport.com/hilton/2016/ar/_pdf/Hilton_2016_AR.pdf [Accessed on
23/11/1017] Borrarelli Research.
Hilton., 2016. HILTON WORLDWIDE EXPANDS TO 100 COUNTRIES AND
TERRITORIES, CAPPING RECORD YEAR OF GROWTH. [Online] Hilton. Available at:
http://newsroom.hilton.com/index.cfm/news/hilton-worldwide-expands-to-100-countries-
and-territories-capping-record-year-of-growth [Accessed on 23/11/1017]
Livemint., 2017. Hilton to open 18 new hotels in India by 2021. [Online] Livemint. Available
at: http://www.livemint.com/Companies/8eiLg3M8qtp2NaU4Ofy76L/Hilton-to-open-18-
new-hotels-in-India-by-2021.html [Accessed on 23/11/1017]
Office, C., 2012. On a Busy Road, a Company Needs Guardrails. [Online] Forbes. Available
at: http://www.nytimes.com/2012/10/14/business/christopher-nassetta-of-hilton-on-focusing-
its-values.html [Accessed on 23/11/1017]
Öztüren, A., Sumaneeva, K., Gashenenkov, M. and Meredova, M., 2017. Potential Effects of
Disruptive Political Trends in International Tourism Market. International Journal of
Multicultural and Multireligious Understanding, 4(2), pp.24-29.
Porter, M.E., 2008. The five competitive forces that shape strategy. Harvard business
review, 86(1), pp.25-40.
Rael, J., 2016. Research: Maximizing hotel profitability potential. [Online] Hotel News Now.
Available at: http://www.hotelnewsnow.com/Articles/88558/Research-Maximizing-hotel-
profitability-potential [Accessed on 23/11/1017]
Sigala, M., Christou, E. and Gretzel, U. eds., 2012. Social media in travel, tourism and
hospitality: Theory, practice and cases. Ashgate Publishing, Ltd..
Statista., 2017. Number of Hilton Worldwide hotels from 2009 to 2016. [Online] Statista.
Available at: https://www.statista.com/statistics/247284/number-of-hilton-worldwide-hotels/
[Accessed on 23/11/1017]
Statista., 2017. Revenue of Hilton Worldwide from 2009 to 2016 (in billion U.S. dollars).
[Online] Statista. Available at: https://www.statista.com/statistics/297760/revenue-of-hilton-
worldwide/ [Accessed on 23/11/1017]

20STRATEGY MANAGEMENT
Wu, C. and Liang, R.D., 2009. Effect of experiential value on customer satisfaction with
service encounters in luxury-hotel restaurants. International Journal of Hospitality
Management, 28(4), pp.586-593.
Yu, H., 2017. Marriott And Hilton Stay Ahead Of The Sharing Economy, Proving That
Airbnb Is Not The Uber Of Hotels. [Online] Forbes. Available at:
https://www.forbes.com/sites/howardhyu/2017/02/16/marriott-and-hilton-stay-ahead-of-the-
sharing-economy-proving-that-airbnb-is-not-the-uber-of-hotels/#60e278e076b3 [Accessed on
23/11/1017]