Strategy in the Hotel Industry Preparation Review What is Strategy?. Your Assignment You are an entrepreneur who is planning to launch a new hotel. How will you compete? What strategy will you pursue?

Strategy in the Hotel Industry

Preparation

Review What is Strategy?.

Your Assignment

You are an entrepreneur who is planning to launch a new hotel. How will you compete? What strategy will you pursue? Choose one of the four generic (competitive) strategies—cost leadership, differentiation, focused cost leadership, and focused differentiation—and answer the following questions:

1. Which strategy did you choose?
2. Who is your target market? In other words, describe the group of customers you intend to serve.
3. Describe the key elements of your strategy, including the features (e.g., amenities, services, etc.) of your hotel. Also, where is your hotel located?
4. What core competencies/capabilities and resources (Links to an external site.) do you need to successfully implement your hotel’s strategy. Hint: Click the link.