Innovative marketing strategies for the hotel industry
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2017
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Abstract
"The new entrants, such as the sharing economy, offer consumers innovative ways with different accommodation possibilities compared to the traditional hotel concepts. This paper will analyze how hotels react to the growing pressures from competitors and observe their development in the market. Through digitalization, how can the hotel industry be more innovative than the sharing economy? What will change in the hotel industry? And finally, how can an innovative effective business strategy be created? [...] This thesis is structured into seven parts. In the first part, the reader is given an idea about what the current situation of the hotel industry is and what problems they face. Then, a theoretical part about the approaches to marketing strategies, marketing mix and how to identify competitors is described. Following the second part, the reader will get to understand marketing in hospitality and learn what innovations in hospitality mean. The third part includes the new innovative competitors and introduces the new concept of the sharing economy. In addition, some examples are given. Furthermore, from this, the reader will get to know about the challenges and opportunities of the hotel industry and sharing economy. The fifth part deals with the digital development of the hospitality industry. In the penultimate, sixth part, the reader will be given ideas about future hotels. The last part includes the conclusion."
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ISSUING BODY NOTE: BAU International Berlin University of Applied Sciences is the former name of Berlin International University of Applied Sciences