Introduction to Strategy Hospitality and Events

1. Introduction to StrategyHospitality and Events Strategic Management for Tourism Hospitality & Events

2. Hospitality and Events – Characteristics • intangibility–hotels and events easier to test, because more standardised; • inseparability– production and consumption take place at the same time; • perishability– products cannot be stored; • heterogeneity– products are not identical; • ownership– customers use services rather than own products. Strategic Management for Tourism Hospitality & Events

3. high cost – Hospitality and Events wider cost spread; • seasonality– depending on type more or less seasonal patterns of demand; • ease of entry/exit – barriers to entry/exit higher than in many parts of tourism; • interdependence– H&E sectors are linked, but less so than T; • impact on society – impacts of THE are often less wide-ranging and controversial; • effect of external shocks – H&E sectors are even more prone to external shocks (immobility of Hospitality). Strategic Management for Tourism Hospitality & Events

4. Control of environment – Hospitality and Events: • Hospitality: • Easier to influence – own property, householder‘s rights, still quality hard to control • Event: • One time or periodical – often own/rented property, often relying on outside forces (weather, politics) • One off less relying on brand value building • Mega events to small events different • Example Winter Olympic Games vs. Wacken Strategic Management for Tourism Hospitality & Events

5. Objectives Broadly: what the organisation is trying to be and trying to achieve; • require congruency and fit between levels; • an overall enduring purpose – Mission; • a desired future position – Vision; • translating mission and vision into specific targets: • corporate objectives • business objectives • unit and personal objectives. Strategic Management for Tourism Hospitality & Events

6. Vision Mission Values • http://hiltonworldwide.com/about/mission/ • http://www.visitflorida.org/about-us/what-we-do/ • https://investor-relations.lufthansagroup.com/en/fakten-zum-unternehmen/group-strategy.html#c10942 • http://doc.rero.ch/record/255098/files/Rio_2016_-_Style_guide_final_january_2015.pdf