Strategic Hospitality Management: Industry Practices Analysis Report

This report delves into the principles and practices of strategic management within the hospitality industry, offering a critical analysis of corporate strategy formulation, implementation, effectiveness, and associated challenges. It begins with an introduction to the subject, outlining the aim and objectives, and then explores the formulation of corporate strategy and strategic management, including an examination of relevant models and analytical tools such as Porter's Five Forces and the Organizational Model. The report then provides a critical analysis of industry practices, including case studies of companies like The Ritz London and Hilton Hotels, highlighting how these organizations have adapted their strategies in response to market changes, especially those brought about by the COVID-19 pandemic. The process of corporate strategy formulation and implementation is examined in detail, along with a discussion of the issues and challenges involved. The report concludes with an assessment of the effectiveness of the strategies discussed, incorporating key points in a summary and providing reflections on the topics covered.