Introduction to Strategy Hospitality and Events Strategic Management

Introduction to Strategy Hospitality and Events Strategic Management for Tourism Hospitality & Events

Hospitality and Events – Characteristics • intangibility – hotels and events easier to test, because more standardised; • inseparability – production and consumption take place at the same time; • perishability – products cannot be stored; • heterogeneity – products are not identical; • ownership – customers use services rather than own products. Strategic Management for Tourism Hospitality & Events

• high cost – Hospitality and Events wider cost spread; • seasonality – depending on type more or less seasonal patterns of demand; • ease of entry/exit – barriers to entry/exit higher than in many parts of tourism; • interdependence – H&E sectors are linked, but less so than T; • impact on society – impacts of THE are often less wideranging and controversial; • effect of external shocks – H&E sectors are even more prone to external shocks (immobility of Hospitality). Strategic Management for Tourism Hospitality & Events

• Control of environment – Hospitality and Events: • Hospitality: • Easier to influence – own property, householder‘s rights, still quality hard to control • Event: • One time or periodical – often own/rented property, often relying on outside forces (weather, politics) • One off less relying on brand value building • Mega events to small events different • Example Winter Olympic Games vs. Wacken Strategic Management for Tourism Hospitality & Events

Objectives Broadly: what the organisation is trying to be and trying to achieve; • • require congruency and fit between levels; an overall enduring purpose – Mission; a desired future position – Vision; translating mission and vision into specific targets: – corporate objectives – business objectives – unit and personal objectives. Strategic Management for Tourism Hospitality & Events

Vision Mission Values • http: //hiltonworldwide. com/about/mission/ • http: //www. visitflorida. org/about-us/what-we-do/ • https: //investorrelations. lufthansagroup. com/en/fakten-zumunternehmen/group-strategy. html#c 10942 • http: //doc. rero. ch/record/255098/files/Rio_2016__Style_guide_final_january_2015. pdf