The Hospitality Industry

Paper Summary:

This paper provides an overview of the hospitality industry and professional hotel management companies and a discussion of the advantages and disadvantages of such contractual arrangements, followed by an assessment of what steps a hotel management company can take to ensure its success. A summary of the research is provided in the conclusion.
Outline
Introduction
Review and Discussion
Background and Overview
Hotel Management Companies
Advantages of Hotel Management Companies
Disadvantages of Hotel Management Companies
Steps to Hotel Management Company Success
Conclusion

From the Paper:

"Competitive advantage generally refers to one or more aspects of an enterprise that provide it with an edge over its competition in some fashion. Based on Prahalad and Hamel's assessment, Susan Jurow offers three tests to identify a company's core competencies to help it achieve such an advantage: 1) it provides long-term strategic advantage; 2) it contributes to customer benefit; 3) and it is difficult for others to imitate (Jurow 1996, p. 300). Applying this analysis to the hospitality industry shows that while most industries are expected to recover from the shock of September 11, the tourism industry could suffer the most permanent job losses and identifying such core competencies is therefore imperative. "

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