Strategic planning
Strategic analysis on Marriott International Hotel
CTH Postgraduate Diploma in Hospitality and Tourism Management
Hospitality and tourism strategic
Planning
CTH Number:
By:
Anjali Arora
Table of Contents
REFERENCES................................................................19
6. APPENDIX.......................................................................20
1. INTRODUCTION AND BACKGROUND
“If you fail to plan, You plan to fail”
Thomas Alva Edison
Most big organisation within hospitality sector don’t realise the importance of strategic planning.
Strategic planning can be defined as “the process through which the guiding members of an organisation envision its future and develop necessary and operations to achieve that future” (Goodstein, 1993). Academicians argue that the process of planning is not made in isolation but need a strategic review of external environment and an analysis of internal environment to formulate corporate strategies.
Exhibit 1: Process of Strategic Planning
As shown in above Exhibit 1 scanning external and internal environment are imperative factors that must be considered while deciding an organisation’s future.The company chosen for this report is Marriott Hotels Plc. Headquartered in the United States; Marriott operates one of the world’s largest networks of hotels franchising and lodging facilities. The company operated or franchised 3,545 lodging properties worldwide, with 618,104 rooms as ofFY2010. In addition, it provides 2,043 furnished corporate housing rental units, and 36 home andcondominium products.
Marriott International Plc. operates through five business segments: North American full-service lodging, NorthAmerican limited-service lodging, international lodging, luxury lodging and timeshare segment. Core values of Marriott, as stated by Marriott
CTH Postgraduate Diploma in Hospitality and Tourism Management
Hospitality and tourism strategic
Planning
CTH Number:
By:
Anjali Arora
Table of Contents
REFERENCES................................................................19
6. APPENDIX.......................................................................20
1. INTRODUCTION AND BACKGROUND
“If you fail to plan, You plan to fail”
Thomas Alva Edison
Most big organisation within hospitality sector don’t realise the importance of strategic planning.
Strategic planning can be defined as “the process through which the guiding members of an organisation envision its future and develop necessary and operations to achieve that future” (Goodstein, 1993). Academicians argue that the process of planning is not made in isolation but need a strategic review of external environment and an analysis of internal environment to formulate corporate strategies.
Exhibit 1: Process of Strategic Planning
As shown in above Exhibit 1 scanning external and internal environment are imperative factors that must be considered while deciding an organisation’s future.The company chosen for this report is Marriott Hotels Plc. Headquartered in the United States; Marriott operates one of the world’s largest networks of hotels franchising and lodging facilities. The company operated or franchised 3,545 lodging properties worldwide, with 618,104 rooms as ofFY2010. In addition, it provides 2,043 furnished corporate housing rental units, and 36 home andcondominium products.
Marriott International Plc. operates through five business segments: North American full-service lodging, NorthAmerican limited-service lodging, international lodging, luxury lodging and timeshare segment. Core values of Marriott, as stated by Marriott
References: BBC. (2011). UK CPI inflation rate rises to 5.2% in September.Available: http://www.bbc.co.uk/news/business-15344297. Last accessed 11/Feb/2012. Johnson, G. & Scholes, K. (2002), “Exploring Corporate Strategy”, 6th ed. UK: Prentice Hall Kerr, J Goodstein L (1993). Applied strategic planning: a comprehensive guide. New York: R R Donnelly & Sons. 3-20 MacNamara, W Marriott International Plc.. (2010). Annual Report . Available: http://investor.shareholder.com/mar/marriottAR10/index.html. Last accessed 11/Feb/2012. Porter, E. M. (1985), “Competitive Advantage: Creating and Sustaining Superior Performance”, New York: Free Press APPENDIX