Strategic hospitality management Literature review

Strategic hospitality management - Literature review Example In discussing about the hospitality brands, that are owned, managed or franchised by the group, it can be said that the brands has a presence in almost every category like luxury, full service, select service, extended stay suites as well as timeshare. The Hilton Worldwide in the year 2011 was credited as the fastest growing major hotel company. As of the year 2011, the hospitality chain accumulated around 30 million HHonors members out of which 3.5 million members joined in the year 2011 itself. The hotel brand has presence in various continents around the world like the Americas, Europe, Middle East, Africa as well as Asia. Vital information about the company is given below in a summarised format: In 2011, the hotel company had an inventory of over 630,000 rooms all over the globe. The company is the owner of multiple popular brands which are present in around 90 countries. In the year 2006, the annual revenue of the hospitality company was around 7.44 billion USD. Journalistic Art icle While performing a strategic performance analysis for the Hilton Worldwide from the investors’ point of view, it is important to focus on conducting an overview of the global hospitality industry along with estimating the growth of the company in the recent times. Focus also needs to be given on the prospects of growth for the company in markets around the world. Overview of the global hospitality industry In discussing about the global hospitality industry, it is important to highlight that the global macro factors are bound to have a strong influence in this particular industry. Talking on this note, it needs to be stated that in the current years, the global hospitality industry has been affected in a significant manner by the political and economic factors around the world. In the year 2012, the global hospitality industry suffered the impacts that generated from US presidential election, sovereign debt crisis of the Euro zone, political disturbances and tension in v arious regions of the Middle East along with slowing down of Asian economies. Talking on this note, it can be stated that in the year 2012, the hospitality sector of the US, especially in the locations of New York, Los Angeles, San Francisco as well as Chicago displayed indications of growth and expansion. A report by the globally popular consulting firm Ernst and Young revealed that the average revenue per available room as of the year 2012 touched the levels of 2007. A deeper analysis revealed that the growth in the average revenue per room happened mainly because of the increase in occupancy levels as well as average daily rate (ADR). It was also found that the influence of the factors like high barriers to entry, longer and extended periods of development of hotel property as well as reduced dependence on wholesalers has greatly helped the upscale, upper upscale as well as luxury segment players of the hospitality industry of the region to attain an increase the revenue per avai lable room (RevPAR) in the recent times. The RevPAR for the Asia Pacific region, barring countries like India and New Zealand also recorded an increase in the year 2012. The prolonged political disturbances in some of the major markets of Middle East regions resulted in generation of mixed performance for this particular