Harvard Case - Marriott International: Hospitality's Uncertain Future
"Marriott International: Hospitality's Uncertain Future" Harvard business case study is written by Jared D. Harris, Scott Snell, Katharine Harrison. It deals with the challenges in the field of Strategy. The case study is 22 page(s) long and it was first published on : Oct 4, 2022
1. This Recommends '
At Fern Fort University, we recommend that Marriott International adopt a multi-pronged strategy to navigate the uncertain future of the hospitality industry. This strategy should focus on digital transformation, strategic acquisitions, sustainable practices, and global expansion while prioritizing customer experience and employee engagement.
2. Background
The case study focuses on Marriott International, a global hospitality giant facing a multitude of challenges in the post-pandemic world. These challenges include:
- Increased competition: The rise of alternative accommodation options like Airbnb and the emergence of new hotel chains.
- Changing customer preferences: Shifting travel patterns, increased demand for personalized experiences, and growing concerns about sustainability.
- Technological advancements: The rapid adoption of digital technologies like AI and machine learning, impacting customer interactions, operations, and marketing.
- Economic uncertainty: Global economic volatility, inflation, and geopolitical tensions impacting travel demand.
The case study highlights Marriott's efforts to adapt to these changes through initiatives like digital transformation, brand diversification, and sustainability programs. However, the company needs to further refine its strategy to maintain its competitive edge.
3. Analysis of the Case Study
To analyze Marriott's situation, we can utilize several frameworks:
- Porter's Five Forces: The hotel industry is characterized by high competition due to the presence of numerous players, low switching costs for customers, moderate threat of new entrants, and moderate bargaining power of suppliers (e.g., construction companies, food suppliers). However, the bargaining power of buyers is high due to the availability of alternative accommodation options.
- SWOT Analysis:
- Strengths: Strong brand recognition, global reach, diversified portfolio, robust loyalty program, and strong financial position.
- Weaknesses: Potential for brand dilution due to expansion, reliance on traditional business models, and vulnerability to economic downturns.
- Opportunities: Growing demand for luxury travel, increasing adoption of technology, and expansion into emerging markets.
- Threats: Competition from online platforms, economic instability, and changing customer preferences.
- Value Chain Analysis: Marriott's value chain includes activities like brand management, operations management, marketing and sales, and customer service. The company can enhance its competitive advantage by optimizing these activities through digital transformation, process automation, and employee training.
- Resource-Based View: Marriott possesses valuable resources like its brand equity, loyal customer base, and experienced workforce. These resources can be leveraged to create a sustainable competitive advantage through innovation, strategic partnerships, and continuous improvement.
4. Recommendations
Marriott should implement the following recommendations to navigate the uncertain future of the hospitality industry:
- Digital Transformation: Invest heavily in digital technologies to enhance customer experience, optimize operations, and personalize marketing efforts. This includes:
- AI-powered chatbots for customer service and personalized recommendations.
- Mobile app integration for seamless booking, check-in, and room management.
- Data analytics to understand customer preferences and optimize pricing strategies.
- Smart hotel technology for energy efficiency, guest safety, and personalized room settings.
- Strategic Acquisitions: Acquire promising startups and smaller hotel chains to expand into new segments, acquire new technologies, and gain access to emerging markets. This could involve:
- Acquiring innovative hospitality technology companies to enhance digital capabilities.
- Acquiring boutique hotels to cater to niche customer segments.
- Expanding into new geographic markets through acquisitions in emerging economies.
- Sustainable Practices: Embrace sustainability as a core value and implement initiatives to reduce environmental impact, conserve resources, and promote social responsibility. This can include:
- Investing in renewable energy sources and implementing energy-efficient practices.
- Reducing waste and promoting recycling throughout the hotel operations.
- Partnering with local communities to support social development and responsible tourism.
- Global Expansion: Continue expanding into new markets, particularly in emerging economies with high growth potential. This requires:
- Understanding local cultures and preferences to tailor offerings accordingly.
- Developing strategic partnerships with local businesses and government agencies.
- Investing in infrastructure and training to ensure quality service and operational efficiency.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Marriott's core competencies include brand management, customer service, and operational efficiency. The recommendations align with these competencies and support the company's mission to provide exceptional hospitality experiences.
- External customers and internal clients: The recommendations focus on enhancing customer experience through digital transformation and personalized services. They also aim to improve employee engagement through training, development, and opportunities for growth.
- Competitors: The recommendations address the competitive landscape by focusing on innovation, strategic acquisitions, and global expansion.
- Attractiveness ' quantitative measures: While quantifying the impact of these recommendations is challenging, they are expected to drive increased revenue, market share, and brand value.
6. Conclusion
Marriott International faces a complex and dynamic environment. By embracing digital transformation, strategic acquisitions, sustainable practices, and global expansion, the company can navigate these challenges and secure a sustainable future in the hospitality industry.
7. Discussion
Alternative strategies could include:
- Focusing solely on cost leadership: This could involve streamlining operations, reducing costs, and offering basic services at competitive prices. However, this might compromise customer experience and brand image.
- Adopting a niche strategy: This could involve targeting specific customer segments, such as luxury travelers or business travelers. However, this strategy could limit growth potential.
Risks and Key Assumptions:
- Digital transformation: The success of digital transformation depends on the company's ability to adapt to rapidly evolving technologies and integrate them seamlessly into its operations.
- Strategic acquisitions: Acquisitions carry inherent risks, including integration challenges, cultural clashes, and potential financial losses.
- Sustainability: Implementing sustainable practices requires significant investment and commitment from all stakeholders.
8. Next Steps
Marriott should:
- Develop a detailed digital transformation roadmap with clear timelines, budget allocations, and performance metrics.
- Establish a dedicated team to identify and evaluate potential acquisition targets.
- Develop a comprehensive sustainability strategy with measurable goals and reporting mechanisms.
- Prioritize global expansion into key emerging markets with a focus on local adaptation and strategic partnerships.
By taking these steps, Marriott can position itself for continued success in the evolving hospitality landscape.
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Case Description
When industry conditions are disrupted, planning for the future can be difficult. For instance, the COVID-19 pandemic had a profound impact on the hospitality industry, not only depressing demand during the height of the crisis but also holding implications going forward for hotel demand in a future "new normal." How can mature, established organizations rethink their business models when circumstances demand it? How can firms envision possible scenarios and make plans to deploy resources when accurate forecasting is difficult or impossible? This case is used at Darden in the first-year core Strategy course, often in conjunction with concepts and frameworks such as hypothesis testing and scenario planning (see chapters 10 and 14 of The Strategist's Toolkit). The case would also be suitable for any course or module discussing disruptive innovation, business model change, organizational change, strategic planning, or resource allocation. The case highlights a female executive at the company.
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