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Essay / Research Paper Abstract
This 6-page paper focuses on the benefits of competitive advantage in the hospitality industry, and how such companies can develop and maintain competitive advantage. Examples of three institutions are provided. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: D0_MThoscom.rtf
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Unformatted sample text from the term paper:
to better separate themselves from the competition and hopefully boost their bottom line. The idea of competitive advantage has been around the
hospitality industry for awhile as well. Although price is an important competitive factor, service and other factors serve has additional ways in which a hospitality company can create, maintain and
sustain competitive advantage. Competitive Advantage - A Generalization For the most part, ever since the first sit-down restaurant opened its doors back
in the 18th century (and the first hotels during the 19th century), the main competitive advantage of such institutions has been location, location, location. Location is one reason why, during
the 1950s, Holiday Inns became so successful - the company took advantage of the countrys growing desire to travel by car, and accordingly placed overnight structures by the sides of
the roads. These days, location continues to play a huge competitive advantage, as does a companys theme, menu, value/price ratios, systems and
entertainment (LeBlanc and Mills, 1995). Experts also point out that an organizations values and culture also go a long way toward
sustaining a competitive advantage (LeBlanc and Mills, 1995). Say the experts, if employees dont like working in your environment, all the strategies in the world wont improve the organization (LeBlanc
and Mills, 1995). Hence, another competitive advantage is hospitality personnel - because hospitality is such a service-oriented business, its essential that personnel be happy with what they are doing, or
else they can make the customer miserable, meaning the customer wont want to come back. And the hospitality industry, overall, tends to be known for certain work conditions that are
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