Assessment Task: This assessment affords you the opportunity to undertake research using a wide range of source material into a hotel company of your choice and to assess the strategic position of this chosen organization and examine strategic growth options to seek medium and long term market growth in an emerging market of your choice.
A: Select one of the up and coming hotel company and conduct a SWOT analysis of your selected hotel company.
B: Select one of the emerging markets of the world as taken from the WTM Industry report –and UNWTO Tourism Highlights, which you feel is right for your hotel company to seek an entry into that market and ultimately to seek medium and long term market growth.
C: Use Porter’s Generic Strategies, Ansoffs Matrix and/or Nykiel’s fourteen hotel strategic growth options to critically examine the strategic growth alternatives for your chosen hotel within your chosen emerging market.
Background to Emerging markets
PEST of selected emerging market and the global market
Micro Environmental Analysis
Market Growth Strategy to be adopted and to be implemented (using strategic model and frameworks) within the entering market
Justification, implementation of the strategy and moving forward.
Background to the Hotel Company
Tourism is a significant industry that has a significant contribution in the global economic development and employment generation. In 2016, the tourism industry alone contributed globally US$2.3 trillion and 109 million jobs. Taking into consideration the industry’s extended indirect and induced influence, in 2016, the industry contributed in the global economy US$7.6 trillion and provided 292 million jobs. This was similar to 10.2% of the world’s GDP, and roughly 1 in 10 of all jobs. 76.85 of the travelling expenditure was due to leisure travelling, in comparison with 23.2% business travelling. From the sector’s contribution to GDP, domestic travel contributed 72%, which is a huge contribution in comparison with international travel which accumulated to the remaining 28% (Wttc.org 2017).
In 2016, the direct contribution of tourism industry to GDP increased by 3.1% , making the growth faster than even the worldwide economy, which expanded at 2.5%, which made the tourism sector for the sixth consecutive time outperform the global economy (Wttc.org 2017).
In 2016, World Travel Monitor reported that the number of global outbound trips increased by 3.9%, with Asia leading the countries. The prediction for 2017 seems positive, with an expected growth by 4% and 5% (ITB-berlin.de 2017). Global forces like shifts in global economy, rising consumer demands, game-changing innovation, natural disasters, geo-political turmoil and pandemics have together altered the travel landscape in 2016 (Mumford, 2016). Mobile technologies are assisting travelers in inspiring them to travel more and providing more useful travel experiences. Relevant technology partnerships are delivering delightful user experiences. In terms of tourism industry, the work-life balance conflict exists too. The issues in relation to the industry are exacerbated as the sector is presently experiencing a labor shortage. The long unsocial hours, low status of jobs and low pay in this sector hardly manages to attract new staff or retain the existing ones. In terms of the new age consumers of the tourism industry, customer satisfaction is an important factor. As most of the hotels nowadays are using cyber marketing strategy for promoting themselves to the customers, online booking has also been integrated in their operations (Xiang, Magnini and Fesenmaier 2015).
As the industrialized world is going through a crisis, many have termed it as a global revolution. countries have experienced economic turnarounds and economies have started moving in the right direction. However, the recovery of the current economy fails to translate this revolution into improvement in employment conditions. The most positive side to this revolution is that backward countries have started producing low cost good services. Delocalization has enabled ever-improving standards of living with high quality, high technology, high productivity and low wages. Delocalization has helped bettering the network system among countries so that a better trade relation exists (Lambin 2014). The One Belt One Road Initiative(OBOR) is a strategy that has been developed for focusing on the connection and collaboration amongst Eurasian countries (Yunling 2015). Among the most emerging economies, Brazil, Russia, India, China and South Africa are the most significant one, together called BRICS. These five countries are either developing or newly industrialized but are fast-growing economies (De Vries et al. 2012).
Global Hospitality Markets
We at InterContinental Hotel Group, as a global hotel group, find the need to explore new markets that have the potential to help us serve our customers better. We are open to adopting new ideas, compete in a new environment with new competitors and successfully survive the market. Our brands are developed with the aim to respond to guests’ needs. In this management report, we would find solutions to help us serve our global customers better.
Crowne Plaza Hotels and Resorts is a part of the InterContinental Hotels and Resorts Group (IHG Group). They believe in making business travel better for their customers. With the changing markets of the world, business has changed, and so has the work life. Businesses have become more digital, mobile, flexible and connected (InterContinental Hotels Group PLC 2017). To not be left behind, Crowne Plaza has acquired properties that are situated in some of the main urban centers, resort destinations and gateway cities all across the world. The brand is growing fast, on its way, understanding the needs from the hotels for the modern business travelers. Crowne Plaza focuses on people who are ambitious and looking to invest in something that can help them go up their career ladder. All Crowne Plaza hotels are ready with 24x7 premium fast and fresh food, accommodation, and business-ready services and spaces so that the guests are kept connected, productive, restored and rested. The group of hotels have more than 5000 hotels across the world, with their presence felt in around 100 countries. Already there are about 750,000 rooms and more hotels under development. There is only one purpose - to create Great Hotels Guests Love (Ihg.com 2017).
Hospitality infers offering service to others, and furthermore demonstrating unsurprising brightness and quality. It should moreover mean profitably offering some advantage at any price level, while displaying your own specific stand-out reasons for capability. By far at the most, hospitality ought to be the place people could even now be useful for individuals and they can outspread their own definite character and flair. The hospitality industry is a section of a colossal social event of organizations that are a part of the travel and tourism industry that gives the fundamental importance to travelers. The hospitality and tourism organizations are the paramount locations on the planet. The travel and tourism industry is composed of five segments: a) the tourism quarters (hotels, motels, camps, voyage ships), b) the transportation services (ships, planes, trains), c) food and beverage operations (diners, bars, food joints), d) retail stores (gifts, souvenir, articulations/makes shops) and e) the events (recreation, enlightening journeys, business, festivities, shake events) (Buhalis and Crotts 2013).
These days, people more than ever travel wholeheartedly across the world. The industry's stress with security has extended unfathomably in view of a couple of terrorist ambushes far and wide, and furthermore by virtue of tourists' kidnappings, burglaries and assaults. The tourism and hospitality industry is among the most contrasting of all organizations to the extent laborer masses and get-togethers of guests. It is indispensable for the staff to appreciate and identify particular social orders memorizing the true purpose to augment the possibility of their coordinated efforts with tourists of different social orders, religions, races, tints, ages, genders and sexual presentations (Bharwani and Butt 2012). As whole competition and market usage alter the expanding service section, quality anticipate an unwaveringly fundamental part in both pulling in and holding service clienteles. Technology is a primary purpose of advance that grants open entries for more unmistakable competences and compromise for enhanced guest services. Technology has altered into a tourism business action being shaped of essential resources and is measured as an instrument to manufacture competitiveness. The overall masses are gradually growing and various retirees have space plan savvy and money to travel and exploit hospitality services. Price and value are gigantic segments to the more astute guests of today. Clients and their insights about price have altered. Guests are impenetrable to compensating all the more (rather, they jump at the chance to get more for less) and tourism endeavors ought to take actions so as to handle this issue. Hoteliers ought to utilize their motel's food and beverage, its spotless condition and quality, and also its vitality (Bowie et al. 2016).
There are numerous captivating trends happening in the worldwide travel industry nowadays, and a champion among the most striking is the creating impact of royal travelers from "emerging" market countries on travel spending and tourism. Aggregately, these countries are by and by starting to outpace their "made" market accomplices with respect to making royal families. In addition, also as plenitude in these markets carry on to swiftly develop, so does their expenditure on travel. There is an expected advancement of $1.3 billion in transportation expenditure in the period 2012 to 2020 (Sukhdev 2012). In particular, the emerging well-to-do spend more, all things considered, per consumption at retail stores than the old-style well-to-do. Additionally, these travelers tend to show amazing budgetary adaptability as their spending in the midst of fiscal downturns demonstrates little drops in purchase volumes while keeping up high ordinary purchase wholes. Travelers from emerging markets are fundamentally influencing the condition of travel objectives and system wander. Emerging markets are as of now the genuine engine of advancement for air travel. Data from IATA shows that air traffic in the US has been creating at a yearly rate of 2% while advancement is going on at rates of 6%-7% in the Asia-Pacific area and Africa, and at twofold digits in the Middle East (Iata.org 2016). Most of the enthusiasm for airports is by and by based on emerging market urban groups, as the fundamental 10 fastest creating airports on the planet are in these countries. Driving hotels, seeing this drift, are by and by concentrating a considerable measure of their fresh enthusiasm for Asia, with properties being opened in all price levels, particularly luxury brands. High improvement of the emerging markets would carry on forming the travel industry, so associations must arrange towards new areas and plans of activity to remain centered. This ask for wave will shape associations and establishment in the years to come (Gereffi 2013).
With global travelers foreseen to twofold by 2020, to about 1.6 billion, the most essential augmentations are depended upon to occur in markets like India, China, and South-East Asia. Eastern Europe concludes this photograph, trailed by the Latin American ultimately African markets. These markets are consistently suggested as "emerging markets". As more settled markets twist up evidently create tourism objectives and travel suppliers rush to pick up by these new markets. Among these, India has the maximum potential to emerge as the most successful travel destination. Starting late the outbound travel market has been creating at a rate of 15-20% reliably. Later on, this improvement trend is required to be kept up, conceivably at a higher rate (Lasserre 2012).
India has seen of late outbound travel market increase at a rate of 15-20% reliably. Later on, this improvement trend is required to be kept up, conceivably at a higher rate (Kothari, Kotabe and Murphy 2013). This increase has been spurred by:
- Reformation and liberalization in all aspects of economic activities
- The consequent boost in economic growth increasing up to 9.3% GDP growth in 2007
- The economic development building wealth and disposable income for the growing middle class
- Reformations in aspects that help in access and traveling like foreign exchange rules, visa and passport processes, civil aviation developments and opening of skies
The travel industry in India is projected to have a n increased growth rate of 20-25% in the short-term process. The key driving force of this growth would be economic development, with a potential of being the second largest economy after USA by 2050. The main factor that would help India is the large young workforce. The ever-growing workforce that would double to 80 million possibly by 2015 would definitely get assistance from the economic growth and expand their potential in the travel and tourism industry. Developing economic activities would help the tourism industry become more diversified (Schnabl 2012).
India as a country gives a colossal prospective to tourism to thrive. A standout amongst the most prepared social orders of the world and a vivacious economy it has prospective for numerous diverse sorts of tourism, for instance, heritage cum social tourism, restorative tourism, business tourism, eco cum encounter tourism, significant tourism, et cetera. The ability of India as a tourist focus point could be resultant of the way that it has a much-improved culture, diverse sorts of land regions and an amazingly rich social inheritance. The prospective gets an added lift because of outstanding advancement of Indian economy in the present years united by climb in typical household income and interests in establishment. Currently, in like manner tourism accept a basic part in Indian economy. The year 2009 was valued at 41.73 billion pounds and it set up 6% of the Indian gross domestic product. It establishes 5.8% of the whole engagement in India and uses 17.4 million individuals. However, in the meantime the statistics are incredibly unfavorable provided the sort of prospective Indian tourism has. Regardless of the way that the market invasion of Indian tourism is still low yet could grow fundamentally gave suitable method is consolidated with operation (Bharwani and Mathews 2012).
- India contains a steady democratic government. This safeguards constancy for the tourism industry.
- The central government has a particular ministry of tourism whose key drive behind existing is to contraption plans and systems for the wellbeing of Indian tourism industry.
- India as a nation-state is isolated into different smaller state and each state has its personal tourism office. These workplaces as often as possible competition with each other in safeguarding higher tourist influx into their specific states. Regardless of the way that this competitiveness safeguards adequacy in the individual states yet is ominous for general tourism as a rule. Since India is a varied nation with each state having a strong opposition, what is actually key is real harmonization among various states (Madhusmita and Padhi 2012).
- India is amongst the speediest creating economies of the world. A higher monetary improvement safeguards rise in yearly income therefore upsurge in domestic tourism.
- A higher money related improvement furthermore ensures increase, in premiums in the establishment, unique uses, advancement of additional up and coming tourist streets, beautification of urban ranges and towns et cetera. These certifies a lift to the tourism industry (Madhusmita and Padhi 2012).
- High improvement achieves higher amount of business visits.
Socio – Cultural
- India a varied nation with end amounts of diverse lingos, social orders, traditions, cooking styles; make it an idyllic objective of social tourism. The significance of diversity could be shut from the way that India has more than 22 consecrated tongues and 1600 vernaculars.
- Indian culture has continuously underscored on with respect to and connecting with their guests amazingly well. The Sanskrit Shloka "Athithi Devo Bahvah" (guest is god) is the exemplification of Indian custom. This gleam and affection for their guests has constantly been valued by tourists all things considered and outside ones particularly.
- India has a lively and opulent past of social orders that can in like manner draw many culture dears and analysts for furthermore studies and examination.
- On account of 200 years of British control English is a fundamental bit of Indian direction structure. A huge part of the all-inclusive community at India can pass on and fathom in English. This offers an extra good position to India conversely with its close accomplices in drawing remote tourist (Bharwani and Mathews 2012).
- Currently, Information Technology accept a basic part in tour planning and its use. Starting from looking through the tourist’s spots to booking hotels and transportation to trading money wherever web based platforms are used. In the Indian setting, there are a ton of such web based portals, for instance, makemytrip.com, yatra.com et cetera. India being an IT superpower is adequately gifted for future change of such streets in a to a great degree cost capable and technologically unrivaled way.
- Notwithstanding India being an IT superpower, the general home PC entrance is still low. This separates a far-reaching bit of domestic customers from consuming such web based portals.
- For the accomplishment of tourism, it is fundamental that a country must be furnished with best transportation workplaces. It must have especially productive transportation structure that can help in transporting both immense volume of people and stock in a greatly sagacious, speedy and pleasing mold. By virtue of its huge people and late opening up of economy its transportation system still not of overall standard (Madhusmita and Padhi 2012)..
Threat of new entrants – Medium as there exists low barriers of entry and exit, however it is tough to measure. Requirement for investment is high for hospitality industry. However, there is potential for tapping online options that are increasingly attractive (Fernando and Long 2012).
Threat of substitutes - Low as there is no direct competition for the hospitality industry. Rising disposable incomes has made it possible for spending in this sector by average customers to be increased (Mohapatra 2012).
Degree of rivalry – High as there is an increase in spending for advertising to attract more customers. Add-ons and offerings of hotels have increased because of low levels of product differentiation. Backward integration, however, is a threat for tour operators as online booking has become a convenient option (Fernando and Long 2012).
Bargaining power of consumers – High as for the fragmented buyer set there is low switching costs. Brand loyalty creation is difficult as there exists a plethora of options that the tourists can choose from. When consumers make their choices, price sensitivity plays a huge role (Mohapatra 2012).
Bargaining power of suppliers – Low as multiple suppliers are available in both the hospitality and travel industry. Moreover, quality and experience are of extreme significance and if suppliers do not cater according to the industry standards there exists the risk of being switched (Fernando and Long 2012).
- It is administered by the Intercontinental Hotels Group so this hotel has a central reservation system (Ihg.com 2017).
- Crown Plaza Hotel has a great position in each one of their locations.
- With colossal meeting rooms and counting their penthouse level reception room and widespread ballrooms, the hotels gloated about gigantic meeting space, obliging groups going from 10-1000.
- The delegates there at the time were all enticing and notwithstanding when you enter the hotel. It is really key to set up a better than average association for the guests when the staff is well mannered, careful and friendly.
- High speed web and level TV screens in all guest rooms and remote web in each and every open zone.
- Fitness workplaces, Express check out, Business Center, swimming pool and sauna, Valet and self-parking.
- The Hotels offer a priority Club Card (Ihg.com 2017).
- The structures are chronicled.
- It created the impression that lacking agents work in the hotel.
- The hotels look dead in light of the fact that there are inadequate green plants.
- The bathrooms in the guest room are small.
- The Fitness clubs needs more space as well, it is extraordinarily compelled .
- If close government structures, various conference meetings would be mind-blowing for the inhabitancy of this hotel
- With swimming pools related with a yard, unprecedented spot for birthday party or other event in summer.
- Massage or spa would pull some business, predominantly for the business traveller (Ihg.com 2017).
- Many hotels are close by, as it had a comparable product competition.
- Summer is extremely harsh in India
- The bar and diner are not too forceful in the hotel, there are a combination of selections outside for guests to have fun in the midst of their stay.
Porter's generic strategy matrix that highpoints cost leadership, differentiation and focus as the three elementary selections for firms, has ruled corporate competitive strategy. As demonstrated by this model, an association can pick how it needs to fight, in perspective of the match among its kind of competitive advantage and the market target looked for after, as the key determinants of choice. A business could increase performance either by attempting to be the low cost manufacturer in an industry or by isolating its line of products or services from those of various associations. In case of Crowne Plaza in India, the right option would be to use Porter’s Focus Strategy (Mckeown 2012).
A focus strategy is away for a segment of the market for a product instead of at the whole market. Businesses looking for after focus frameworks must have the ability to perceive their target market area and both evaluate and address the issues and needs of purchasers in that part enhanced than some other contender. Focus methods can be established on differentiation or lowest cost. A focus strategy underscoring lowest cost is extraordinary in the hospitality industry as it is tough to fulfill a specific guest section lacking some kind of differentiation. One could discover various instances of associations in the hotel industry that are using a focus strategy in perspective of the differentiation advantage (Tanwar 2013).
Based on the matrices in the Ansoff Matrix, Crowne Plaza can penetrate different markets with the help of a wide range of products and services at an affordable price. The products incorporate the prizes and benefits and moreover the workplaces gave in each one of the hotels. After penetration, the association started to develop new workplaces and moreover upgraded its performance in the market. Having extended pervasiveness and being a choice of a considerable number of customers, Crowne Plaza has a noteworthy opportunity to also go into the present market and achieve more cutting-edge markets and besides develop their products for the new and existing markets (Hussain et al. 2013).
Licensing is a way to deal with enter an outside market with a confined level of risk. Under all inclusive Licensing, a firm in one country allows a firm in another country to use its ensured development. Allowing resembles franchising beside that the franchising affiliation tends to be more particularly drew in with the change and control of the marketing program. The noteworthy disadvantage of approving is the issue of controlling the licensee on account of the nonappearance of direct obligation from the all-inclusive firm giving the allowance. Following couple of years, once the know-how is traded, there is a risk that the remote firm may begin to follow up alone and the overall firm may subsequently lose that market (Grünig and Morschett 2012).
Porter’s focus strategy can be implemented in the firm if they are either using differentiation strategy or an overall cost leadership focus strategy in a specific market segment or topographical location. IHG Group already has been using cost leadership focus strategy. Crowne Plaza would be easily using focus strategy for their new venture. With their already differentiated products they can enter the hotel industry in India and give tough competition to the existing hotel chains. For growth, Crowne Plaza can follow the licensing approach, by which they can enter the Indian market, without giving out their intellectual property rights completely but still remaining in control of IHG Group (Grünig and Morschett 2012).
- Crowne Plaza chiefly focus on the luxury products yet there is considerable masses which can't deal with the cost of the luxuries so it should familiarize a low cost brand with give nourishment the low and focus level income people.
- Crowne Plaza is being targeted by the terrorists and the extremist so they have to settle the security of their hotels remembering the ultimate objective to give the ensured condition to its customers.
- Crowne Plaza should make joint ventures in other high risk countries and use the area's name.
- Crowne Plaza should see to reconstructing to reduce cost and augmentation capability
On a concluding note, it can be stated that for Crowne Plaza, the appropriate destination country would be India. India is an up and coming country, with a burgeoning economy. The growth of the country is very high. Along with it, it has the labor force to support the economic growth. The brand is growing fast, on its way, understanding the needs from the hotels for the modern business travelers. Crowne Plaza focuses on people who are ambitious and looking to invest in something that can help them go up their career ladder. After thorough analysis of the external and internal environment of the hotel and its destination market, it has been found that focus strategy of Porter would be the right choice for the hotel’s market growth. In case of market penetration also, Crowne Plaza would be successful in India, as using their already differentiated products they can enter the hotel industry in India and give tough competition to the existing hotel chains. For growth, Crowne Plaza can follow the licensing approach, by which they can enter the Indian market, without giving out their intellectual property rights completely but still remaining in control of IHG Group. To further bring growth to the hotel and the group, some recommendations have been put forward. To ensure a successful venture in India, Crowne Plaza must follow these strategies and keep on improving the fame of the hotel group.
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