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The Hotel industry in the Middle East 2007 - Essay Example

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"The Hotel industry in the Middle East 2007" paper presents a forecasted future of the Hotel industry in the Middle East. It seems that the Middle Eastern countries have realized the key to The Hotel industry's Success, they need to concentrate on the Airline industry and the tourism industry…
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The Hotel industry in the Middle East 2007
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Topic: B300 TMA07: Business Report on The Hotel industry in the Middle East 2007 and Section # of Executive Summary This research Topic, was basically upon the Hotel Industry within the Middle East The Hotel industry review presents a very bright forecasted future of the Hotel industry in the Middle East. It seems that the Middle Eastern countries have realized they key to The Hotel industry Success, they need to concentrate on the Airline industry, the tourism industry as all of these go hand in hand. It is as simple as the availability of tickets, comfortable air travel, a comfortable, Hotel to stay in, and a good place too look around that helps the hotel, gain or in other words increase their revenue. There exist many local hotels inn the Middle East, but there is hardly any foreign brand that does not exist to serve in these countries. The Hotel industry will boom further with developments heavily structured in Egypt and United Arab Emirates etc. Introduction Middle East: a decade of transformation for the hotel industry In spite of the serious terrorism commotion crossways various countries within the Middle East markets, have estimated there hotel performances to be continually attacking at the forefront for the duration of the first quarter of 2005 and until the year 2007. This has been researched by the HotelBenchmark Survey which is conducted through Deloitte. The value of or the Revenue per available room (revPAR) is actually the element which is majorly always evaluated in order to calculate the performance figures whether increasing or decreasing it had increased to a 24% to attain a US$91 in comparison to a US$74 which was stagnant in the first quarter of the year 2004 As the tenure rose up to a 73%, which was the maximum level on record ever since the year 1996, the performance of the hotel industry in the Middle East has seen a substantial amplification in the standard rates designated for the hotel rooms. Transversely through the constituency the average room rates had moved at the forefront by almost a 23% to attain a US$125. Source: Hotel Benchmark Survey by Deloitte The Hotel Industry Scenario in the Middle East since the Year 2003 to the Year 2005 It was observed that one of the most important carriers an contributors of this cosmological performance were the many countries within the middle east which had begun to branch out their economic foundations , and had initially started working on helping raise their tourism contribution. It was also observed closely that international visitor arrivals to the Middle East more than the last decade boast a practically doubled figure which had been surveyed by the World Tourism Organization (WTO). In the financial year 1996 the international arrivals whether in terms of tourists or airlines to the region were an approximate 15.4million , on the other hand by the end of the year of 2004 this had matured up to a 28.8million , on behalf of a total CAGR of an approximate 8.1 percent . Not astonishingly the Hotel industry and the Airline Industry in the Middle East have altered further than the entire identification and the foreigner or tourist's and the passenger traffic from beginning towards the ending of the Gulf is at the present the highest and the most rapidly budding one in the world, almost continually intensifying by an approximate 10 percent per annum. There has also been observed a brisk in the expansion of the regionally-based international Chain of Hotels such as the ones in The United Arab Emirates , Qatar , Bahrain , Saudi Arabia , Kuwait , Iran , Iraq - numerous of which are adding together new routines and new utilities that they offer to the ones staying at their hotels also boosting their schedules to unfasten a complete new-fangled source of Hotel markets.1 Research Methods Introduction: There are a lot of different ways, and methods that one can choose and select from, while deciding upon the research Mode. There exist both qualitative and quantitative modes of research. The research method, chosen greatly affects on how and what results are deduced from the data found. The selecting and deciding upon the method and the Procedure of research are distinct from each other. Why using the secondary data would be most suitable: The basic rationale behind the secondary data is referring to that sort of a data, which is actually been gathered and presented by someone else. In other words it is never a direct data collection. This is a complete contrast to the implication of the primary data. This specifies data collected first hand or in other words data composed individually. .With reference to the vital resources that can be used to search through Libraries. Also, periodicals, journals, and data published and preserved in other collections. Further more, the data found through the use of the World Wide Web. The use of this technology has become much easier for us. As Globalization takes over all avenues rapidly. We are able to access such contents and library collections along with published journals, case studies etc. Reading each individually sitting in a library would be virtually impossible. Furthermore much, easier access to large databases, and surveys, experiments that have been carried out in the past. Is also one of the major advantages of using secondary data in the research process. These data providing sources also include within them vital information providing resources that entail within them a number of different cases, published reports, statistical Analysis of certain specific categories. Users can look up the category of their choice. There are three vital resource providing elements in the secondary data and information: Documents that specifically cater to the researchers topic ; Quantitative and statistical resources which help the researcher amalgamate statistical analysis along with their theoretical , and literature findings and analysis ; Researches carried out in the past regarding similar topics. . The use of secondary data, can contribute to our research in a number of positive ways: Because of the fact that numerous researches have been published earlier. And also there are the Hotel Industry Based researchers who are continuously involved in gathering information from all sorts of distinct Hotel markets as well as consumers of all ages. This is quite not possible by one individual like me to gather. This process requires a team of individuals who would put their days and nights gathering relevant data, statistics and analyzing them, comparing them, contrasting them and presenting them in the required manner. Documents are most likely to provide the following: Raw data, so that these can be formed into perfect information sources. This information can include critical evaluations, comparisons and contrasts of the required topic. These can further be utilized as in the form of assessment indicators; These can facilitate the documentation of the intricate details of the elements involved. The quantitative data can facilitate the process of research in the following ways: make available data with the reference for the topic ; this data can also be used to evaluate and also analyze the requirements of the topic it can also be utilized in terms of revealing true facts that would not have been easy to find otherwise It can also help keep the researcher on track of the topic. The use of reports published in the past: Their use can facilitate the evaluation of the found data and information stage. indication to a focused novel possibly will facilitate proposing a applicable display; More often than not a number of resources of data are presented in a way as to suggest conclusions. For instance, the assessment of interpretation from organizational data along with arithmetical sources may possibly be used to evaluate the differences involving participants in addition to the inhabitants on the whole. It may also be possible to calculate approximately the effects of using the foundation of secondary data or the modeling of the accomplishment of the research topic.2 Main Body: The transformation of the hotel industry in the Middle East: in opposition to the environment of varying and mounting demand, the hotel industry is looking at a complete transformation. In the present day, all the international hotel brands moreover contain or otherwise prepare to include a momentous existence in the constituency. It is estimated that 80 new hotels will open on the Arabian Peninsula by 2008. As notably as always Dubai lead the field and vestiges the center of attention of this expansion with an expected 12,500 rooms being supplementary to the contribution more in the next four years. In the recent years Dubai has also evolved into a commencing protection for a large number of new-fangled brands hooked on the constituency as well as the Fairmont, Traders, Shangri-La, Rydges and the Millennium. The most recent brand that has entered the market is the most popular and the luxury Armani hotel, which is a joint venture between a fashion designer named Giorgio Armani and a Dubai-based Emaar properties. The constituencies of Qatar and Kuwait had also seen a significant increase in the rooms' contribution of and approximate 145 percent and a 75 percent correspondingly. The main question here is which markets were the achievers and the non achievers for the duration until this day .. There were seemingly only three markets that had faced and publicly announced a decline in revenue Per the Available Room for the duration for the current and the past financial years. The Hotel in Cairo - Heliopolis, Beirut and Kuwait were the three. By way of an approximate 18 percent fall in the revenue Per Available Room, the hotels in Kuwait had published the most substandard performance, with the tenancy down to an approximate 7percent and the standard room rates downward to another 12 percent. This heavily stressed and indicated upon the fact that the market was intenerating to the 'standard ' trading state of affairs, subsequently the highlights within the last two years, ever since the Iraq war had initially begun . Within Kuwait's first quarter the revenue Per Average Room in comparison to the past years was almost indistinguishable at an approximate US$153. The Top three and bottom three Middle East markets by revPAR growth significantly have been Muscat with an approximate 88.5 Percent Occupancy a US $ 141 , a 125 $ as per the revenue per the average room rate , almost summing up to a total of an approximate 83% as the overall change in the market . In Doha , The Occupancy was an approximate 84.2 Percent with the average room rate of a 195 US Dollars , an approximate 165 as the revenue per an average room per US $ along with summing a total of an approximate 61 Percent as the total change . In the state of Abu Dhabi the occupancy had been recorded an approximate 88.6 Percent with an average room rate of a 112 US dollars , an approximate 99 US Dollars the revenue per average room , and so thus recording a complete and approximate 45 Percent Change in the over Hotel industry . In the next zone of the Middle East in terms of the Occupancy element Kuwait remained a substantial 76.5 Percent , along with 200 US Dollar as the average room rate , an approximate 153 US Dollars as the revenue per average room signifying an overall -18 Percent change ( this change marks the downfall which is represented by the Minus Sign ) .Moving onto Beirut the occupancy had been recorded an approximate 51.4 Percent with an approximate 159 US Dollars as the average room rate , an approximate 82 Percent as the revenue per average room in US Dollars which sums up to a complete -14 Percent Marking a higher decrease in the overall hotel industry and its revenues in the sector . Another state within the middle east which has always been considered as the tourist Hub famous for its culture heritage and lay out, Cairo Egypt the Heliopolis ,has marked an almost 67 Percent in its occupancy of the hotels an approximate 64 Percent as the Average US Dollar for the room rates , an approximate 43 Percent as the Revenue Per Average Room along with summing up a notably -2 Percent as the total and overall change . Source: HotelBenchmark Survey by Deloitte Subsequent to the elimination of the then Prime Minister Rafik al-Hariri on 14 February 2005, the Lebanese Hotel and Tourism industry has been pushed down into a stipulation of despondency. The Hotel arrivals chop down to an approximate 18.5Percent in the month of March compared to February, as foreign tourists stayed away because of being cautious of their safety. As a result, the habitation rate at the hotels had gone down to a 22 percent in the capital Beirut. On the other hand receptively, the hoteliers cover and have so been managed to uphold the average room rates, which have shown an increasing trend with a boost of almost a 10 percent during this time, extenuating the revenue Per Average Rooms corrosion to another approximate 14Percent . Similar to Kuwait, Lebanon has also experienced resurgence for the period since the last two years and regardless of the exigent trading surroundings as well, the performance is tranquil ahead of the last few years, especially the year of 2003. At the further end of the gamut, the regions winners during the year after 2003 have been Muscat and Doha. The Hotels in Muscat have experienced as well as reported an amazing along with a very impressive 83 Percent increase in the revenue Per Average Room. At the same time as the tenancy augmented to an approximate 22percent to get in touch with an overwhelming 89 Percent for the time, the average room rates also on the other hand sailed further on to an approximate 50Percent towards a US$141. The only Hotel market to hammer Muscat in expressions of tenancy at the hotels was Dubai wherever an extraordinary 93 Percent was observed. Countless comparisons are being made amid Muscat and Dubai. The Average room rates in Doha have progressively augmented ever since the commencement of 2004 and by a 63Percent for the first sector which tends to mark maximum growth of every hotel's market in the Middle East. The Qatari Government has completed a huge post of augmenting the profile of Qatar, by spending an approximate US$15 billion positioning the kingdom as a leading tourist aim. The Visa restrictions have been unperturbed for Westerners and this Islamic country has opened its armaments to the Western lifestyles, permitting women on the beach and in swimsuits and enlivening some limitations on the utilization of alcohol. The production of the Pearl of the Gulf (a lifestyle city) and the Asian Games in the Year 2006 helped continue this augmented presentation for a moment or two to come. Can the hotel industry performance continue at this rapid rate Is the main question In comparison to the other regions of the world economic indictors continue to be positive, and with the WTO calculating the approximate global growth in worldwide tourism arrivals of an approximate 5 Percent for the year 2005 - the forecast remained positive for the next term. The Presumption being that if the demand continuously grows at this rapid rate the genuine challenge for the hotel industry will be to make sure that the airlines and the allied transportation can cope with. The Dubai International Airport is toting up a third terminal to have room for 100million tourist passengers expected by the year 2020. The other major airport expansion is premeditated for Abu Dhabi, Kuwait and Jeddah, at the same time as in Doha a brand new airport estimating a US$2 billion is under construction now. There would be no doubt in the Revenue increase of the produce of the hotel Industry in the middle east as protracted as the governments transversely in the Middle eastern region keep building pioneering developments to heighten their tourism and Hotel Industry offer, there seems to be no specific reason why the hotel industry performance would not continue to sail ahead over the next few years to come . 3 The Various Management strategies being used by these hotels in the Middle east: There is a traditional view that exists in terms of the Hotel s existing in the Middle East. These are them acting as monopolists in the regions they are located in. The seemingly are being observed as progressively more being questioned for the most part for the reason that of the enhanced forces of competition which have occurred owing to augmented Hotel liberalisation and Hotel Industry and its commercialization. Therefore a competitive analysis was undertaken of the Hotel Industry prior to the attention being turned upon the actual strategies which these hotels have adopted. This has been similarly applied as the application of porters far and widely used five forces of the framework of the competitive analysis which does reflect upon the threats of new Hotels as entrants and the substitutes. Threat of new entrants The threat of novel competing between the existing Hotels in the Middle Eastern region is relatively low for the reason that of the hefty Investment which is considered necessary for the innovative infrastructure and because of the protracted and intricate planning and authoritarian processes which recurrently have to be looked after and carefully considered in order for endorsement of any innovative development to be specified. furthermore it is more and more intricate to stumble on appropriate locations for new competing sites. In countless other hotel industries, the barriers to entrance also have a propensity to be elevated for the reason that of the subsistence of escalating returns to scale. However contained by the Hotel industry in the Middle East, Various substantiation suggests that the economies of scale have a tendency to fade away once the annual output of a Hotel tends to reach their Peak of Optimized revenues. These Middle Eastern Hotels tend to produce much bigger revenues there possibly will in fact be diseconomies of scale. This is in all probability owing to The Middle Eastern Hotel Operations becoming that greatly evolve and form into more Intricate ones. On the whole this suggests that even though there are definitely extensive barriers to entry, they are not associated with the economies of scale Threat of substitutes The threat of substitutes is also comparatively low for most of the Hotels with probably the greatest threat being International Chains of Hotels . For The regional Hotels , the introduction of Highly efficient and a variety of Client services can have a momentous brunt on Hotel services to the most important Hotels . Nevertheless the current augmentation of the Middle Eastern Hotel segment has misrepresented the economic equilibrium between the various hotels within the Middle East. This is functioning in the conflicting course to heartening more Hotel Rentals in the Middle East , Making the middle Eastern Culture and Old Tradition an Attractive source . Rivalry in the midst of existing Hotels in the Middle East The quantity of competition in the midst of vacant Hotels in the Middle East varies significantly. - If these hotels are situated in distant regions, the possibility for competitive rivalry is very inadequate or fictional. It also tends to be scrawny at Hotels in the Middle East which have a high concentration of both locale and foreigner visits services However as regards the other three forces it is impossible really to generalize which is often a limitation of Porter's model. As regards the competitive competition at the major hotel s in the Middle East separate catchphrase vicinity with a broad network of services are in addition not likely to be question to much antagonism unless they are contending as a nucleus. However if the hotels are physically put up the shutters, the competitive rivalry will be additionally concentrated. On the other hand there are threats of substitutes, for instance from high avenue .as a consequence a diverse picture emerges.4 Why some of the Hotels in Middle East have gained an edge Over the others: This is a very complex issue , as to how can some hotels , be successful so mush so that they are achieving highest levels of continuous growth and some are only stagnant at the same level . It is only because some of the Hotels Like the SAS , LE Mediterranean , Hyatt regency , these are hotels which use the latest technology in order to enhance their client services , this is in terms of making it easier for clients to book a room from any where in the world over the internet, providing the latest facilities at a competitive cost . These Hotels also tend to be more successful because of the reason that these Middle eastern region Countries realize That there hotel industry goes hand in hand with the overall Hospitality and management of Tourism Industry . They also realize that if they are able to increase their revenues in the airline and the tourism industry they would ultimately achieve more revenues and continued growth in the hotel industry. Conclusion It is forecasted that approximately US$3 trillion will be invested within Middle East Hotel Industry along with the tourism and infrastructure and more tourism over the next 20 years. During the first quarter of 2007 alone, more than US$2 billion was invested in the hotel region. This height of movement has prompted Reed Travel Exhibitions, the organiser of the region's leading travel and tourism event- Arabian Travel Market -- to subsidize three in-depth studies on the future of Middle East tourism. Reed isalso dramatizatizing an early happening in Dubai to look at the tourism development projects and investment. This employment show will present a raised area for investors to categorize new-fangled projects, commence discussions and brace relationships, benevolent operators and global intention brands the probability to discover joint venture partnerships in the constituency. Room for more numerous hotel chains are previously pursuing antagonistic development plans in the Middle East. as of budget brands from first to last to luxury palaces, all and sundry is keen to get in on the feat. local player Rotana Hotels and Resorts is set to twofold its portfolio to 53 hotels by 2010. This will fortify the company's being there in Oman, Jordan, Qatar and the UAE, together with a property set to open on Abu Dhabi's Saadiyat Island in 2009. There are at present 17 hotels beneath construction, while 11 have been signed under new management agreements. Marriott International, which at this time has 22 hotels in the Middle East, will append 16 more, offering 3,515 rooms by 2010. These contain properties in Bahrain, Cairo, Doha, Dubai and Jordan. Hilton Hotels already has 11 hotels in the channel, and 20 more signings are anticipated in the next five years. The company's primary property in Beirut, with 162-rooms, is due to open later this year; while the new-look Hilton Luxor Resort and Spa in Egypt, with 235-rooms, is due to re-open early in 2008 after a two-year renovation. The hotel chain is strongest in the UAE, where almost 70% of the potential projects have been signed. These include a combination of five economy hotels under the Ibis brand and five mid-scale hotels flying the Novotel flag. In 2007, Accor is set to open six properties including the Sofitel Al Gezirah in Cairo, the Novotel Al Anoud in Riyadh and the Ibis Salmiya in Kuwait. The Palm Golden Mile on The Palm Jumeirah Between 2007 and 2009, Rezidor Hotel Group has set a target to add 20,000 rooms into operation in Europe and the Middle East and Africa. Currently, the hotel chain has 14 Radisson branded hotels in the region and is planning to expand its footprint in Saudi Arabia and the UAE. The company is also opening its first Missoni Hotel - the 200-room Hotel Missoni Kuwait - at the Symphony Complex, the first major lifestyle development in Kuwait, in the third quarter of 2008. At the end of 2007, the company will introduce its mid-market Park Inn brand into Egypt, with the opening of the 401-room Park Inn Sharm El Sheikh Resort. It is without doubt that the hotel industry in the hiddl east is realy budding up significatl Tiara Hotels & Resorts - a new luxury hospitality company and subsidiary of Zabeel Investments - is due to open its first property in the UAE next Summer on The Palm Jumeirah, followed by a second property on the Sheikh Zayed Road, Dubai,in the Winter of 2009. The company also aims to open further properties in key gateway cities across the Middle East and international destinations. Dubai Worldinvestment company, Istithmar bought the iconic QE2 cruise liner for a reported US$100 million in 2006, and after 40 years of service and carrying 2.5 million passengers, the ship faces a comfortable retirement at The Palm Jumeirah. By 2009 it will have been transformed into a luxury floating hotel with retail and entertainment space, and there are talks of a museum to mark the ship's maritime history. Budget brands While most people connect only the high end of the market with the Middle East, there is considerable activity in the budget sector. Istithmar, for example, is transforming the budget accommodation landscape with the easyHotel master franchise. It will be investing more than US$400 million as it rolls out 38 easyHotels across 17 countries, adding more than 38,000 budget rooms over the next five years. The new design concept fits the brand image, so building and opening up these properties for business will be quick and easy. The first to open in Dubai will be located at Al Karama and will be ready for business in early 2008. With no shortage of cash for investments in hotels - and other sectors - Middle East companies can obviously afford to look overseas as well as in their own back yard. Between 2005 and 2006, acquisitions by Middle East investors in European hotel assets more than doubled. One of the highlights in 2006 was the acquisition of Travelodge UK by Dubai International Capital (DIC). Since this transaction, Travelodge has announced plans to triple the size of its estate by 2020 and invest 3.5 billion (US$7.0 billion) in new hotels, focusing its expansion on Greater London. Foundation for growth Of course, it's not only hotels that are altering the Middle East skyline, there is also a massive amount of construction work as leisure facilities, conference centres, theme parks, sporting venues and shopping malls takes shape. The construction trade reports that around 15% to 25% of the 125,000 operational cranes in the world are located in Dubai. Many of these are being used to build Dubailand, which comprises 3 billion square feetof amusements, cultural attractions, entertainment complexes, health, leisure and sports facilities, resorts, and retail space. Once fully operational, Dubailand expects to attract 40,000 visitors a day, 15 million a year. The Dunes golf course at Dubai Sports City is expected to be one of the first attractions to open, at the end of this year. Development of the man made islands in Dubai - the Palms in Jebel Ali, Jumeirah and Deira - continues. The Palm Jumeirah, reported to be the largest man-made island in the world..5 Bibliography 1. Hotel Benchmark, trademark Delloitte Published on the 27th of May in the year 2005, Middle East: a decade of transformation for the hotel industry. 2. Evaluating Socio Economic Development, December 2003,SOURCEBOOK 2: Methods & Techniques, Use of secondary source data , 3. Fisher M. et Nijkamp P. (1993), Geographic Information Systems, Spatial Modelling and Policy Evaluation, Berlin: Springer-Verlag. 280 p. Volume comprising background articles with a specific. 4. Hotel Benchmark, trademark Delloitte Published on the 27th of May in the year 2005, Middle East: a decade of transformation for the hotel industry. 5. Middle East Conference on Sustainable Hospitality Management Radisson SAS Hotel, Amman April 17-19, 2008. 6. Autghor :maria karam , BI-,- ME Source 10th September 2007 Read More
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