The purpose of this paper is to implement globalization strategies in the Hospitality industry. The global management strategy is not only to decide on the future direction but also to implement actually at operational level.
The main points of the s...
The purpose of this paper is to implement globalization strategies in the Hospitality industry. The global management strategy is not only to decide on the future direction but also to implement actually at operational level.
The main points of the study are as follows.
First, a comparative analysis is conducted on the strategic management method to provide realities of the hospitality industry.
Second, the concept of corporate strategies for hospitality industry is clearly defined and a globalization strategy theory is systematized. Third, the international hospitality companies should utilize numerous growth strategies in order to obtain a large market share of, and higher profitability from, the world marketplace. Their commonly used growth strategies are: franchising, management contracts, strategic alliances, joint ventures, long-term leasing, wholly owned subsidiaries, and mergers and acquisitions.
Fourth, international hospitality companies should develop attractive tourist products, and utilize global management strategies to expand the international markets.