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Hilton Critical Success Factors Essay

982 words - 4 pages

Hilton
The critical success factors of a company are the essential features and elements of an organization that contributes to the organizations success within its industry. Since its founding in 1919 by Conrad Hilton in Cisco, Texas, Hilton Worldwide has remained a frontrunner within the hospitality industry. Currently, it is one of the largest hospitality companies in the world with over 10 brands and offering 3900 hotels worldwide. Hiltons reign as a leader within the hospitality industry is contributed to its four key success factors which includes providing a level of customer service that enhances the customer experience, competitive marketing, effective cost management and brand ...view middle of the document...

Depending on the season and location Hilton offers a variations of prices. For example, at some of the locations closer to attractions and beaches you will see an increase of prices during its peak seasons of spring and summer. Furthermore, Hilton’s brand dedication to be tailored to “fit every lifestyle and occasion” (Vision, Mission and Values, 2013) it offers luxury amenities to affordable comforts for an additional cost. To acquire repeat business the Hilton Honors guest loyalty program was established to offer lower rates and rewards to past guests.
Lastly, the brand differentiation allows them to standout from its competitors. In an article by the Brad Foss associated press states that brand distinction is important for those in the hospitality industry due to fierce price competition (2004). Offering hotels in mid to upscale categories allows Hilton to fit a variety of consumers’ needs and interests. Each brand has elements that distinguishes them from one another and their competitors. For example, the Hilton Grand Vacation is a club program is geared towards the avid vacationer with suites that has a home away from home appeal.
In order to help Hilton Worldwide to continually achieve its critical success factors the use a balanced scorecard is recommended. For performance evaluation purposes the balanced scorecard will be more useful based on the Hilton being part of the hospitality industry because it takes into consideration financial and nonfinancial factors. The balanced scorecard will assist Hilton to improve its business performance, reduce expenses, and provide insight on its current performance as it relates to its organizational goals, as well as have a positive increase in its organizational climate and improved employee and customer relations and loyalty. Thus, the balanced scorecard can serve as an effective tool that creates organizational action program, goals and performance measurements from an organization’s missions and strategy (Doran, Haddad & Chow, 2002).
The hospitality industry is saturated with companies that offer guests a comfy bed but the additional amenities and services along with special promotions and discounts attracts new guests and keeps past guests...

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