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Abstract
The lodging industry throughout history was developed in response to customer needs. As social and business needs change, the style of hotels needed also change to satisfy these changes. Currently, the industry is building to accommodate the growing needs of the budget and mid-scale travelers. Those travelers are cost conscious and comfort minded.
Strategy could be defined as ”a brand and general plan developed to reach long-range objectives”. Strategy is the end result of strategic planning, and must be consistent with organizational goals and purpose. As most hotels aim to achieve the superior performance, a strategy is the specific pattern of decisions and actions that managers take to achieve superior organizational performance.
The success of any firm depends upon its ability to choose and implement an appropriate strategy in the context of a competitive and changing environment. Strategic management consists of four sequential and continuing steps:
1. Strategy formulation (Strategic Planning)
2. Strategy implementation
3. Strategy results measurement
4. Strategy evaluation
Domestically, many hotels fail to achieve its objectives, or fail to obtain its fair market share, specially, the economic or budget properties where most of them are independent hotels owned and operated by individuals, with no current complete vision or future one about the market or how to compete in the marketplace aiming to achieve competitive advantage and gaining better position or larger market share in this challenging market.
The study aims to assess the actual situation of the budget properties and finding the weakness points in its management process, and assessing the performance levels in the assigned hotels. Suggesting strategic procedures and recommendations to help these hotels in achieving better performance.