Strategic Planning In Marriot Hotel Chains
Marriot international is a chain of hotels, eating joints and lodging facilities and one of the largest hoteliers in the United States. The organization boasts of branches in 65 different countries across the globe. It also specializes in real estate management. The company started off as a nine seater root beer stand and grew to the international company it is today. The company’s management has remained in the founding family’s hands with the founder, J.W. Marriot handing over leadership to his son Bill Marriot who is the current CEO.
This report analyses the company’s strategic management. The first part focuses on the areas where the company employs the use of strategic plans and the plans themselves. The second part focuses on the implementation of these strategic plans. The report then moves on to analyze the external and internal factors that influence the development of these strategic plans.
The benefits of employing the various strategic plans are also brought to light. Following the benefits is an analysis of various problems that the company could encounter now or in future due to implementation of these strategic plans. Lastly, the report presents recommendations for improving or developing the strategic plans of the company. The conclusion evaluates the hospitality industry and why Marriot International has to adopt strategic management. Marriot hotel chain is a chain of hotels restaurants and lodging facilities located in 65 countries across the globe. It is the world’s leading hotel chain contract and lodging services Company. The hotel chain has its roots in a nine seater root beer stand in Washington D.C founded by J.Willard and Alice Marriot in 1927. The business first grew due to specializing in soft drinks in the summer which were very profitable. It later led to the founding of the Hot Shoppe Mexican food restaurant to supplement business in the winter when soft drinks were not as profitable. From then on, the sky was the limit for the Marriott’s as the family business grew by leaps and bounds through opening up new businesses and acquisition. Lodges, clubs, hotels, restaurants as well as conference facilities all came up in the Marriott’s name. The family business has grown tremendously with management remaining in the family line. Today, the company boasts of close to 1,400 lodging properties and over 7,000 hotels and motels under its ownership and management under sixteen brands. In addition, the company also specializes in real estate management and operates about 7,000 apartment buildings (Fundinguniverse, 1998).Like any other company in the corporate world, Marriot International knows only too well the importance of strategic management. Strategic planning is important in any business as it utilizes the business strengths in the corporate world. It outlines the goals and objectives of all the critical areas in the business world namely management, target market, profitability, products, finances, customers.
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