Competition as a Critical Factor of the Strategic Planning of Hotel Businesses

Sotirios Varela and Nikolao

Abstract

The challenges which modern hotel businesses are called upon to address within a constantly changing globalized world, with rapid technological developments that dictate new corporate governance models, render the strategic analysis of competition necessary for their growth. This study views competition as one of the fundamental parameters when implementing holistic strategic management in a business, in an effort to give it a competitive edge, with special emphasis on how this is reflected on the business’s performance. Our study focuses on tourism businesses where competition and competitive forces attract special interest.