The international expansion of hotel brands
With the emergence of globalization, the tourism market is becoming increasingly competitive and challenging, the hotel industry is growing exponentially, causing brands to focus on the growth and advancement of their hotels.
Thanks to this, hotel brands concentrate their market management on internationalization strategies that promotes the development of their brands in different geographical locations, offering new products and services according to the resources that serve as opportunities.
In the hotel industry, market share complicates the distinction of the products and services offered by hotels, causing hotel chains to base their internationalization strategy on management contracts and franchises.
This strategy consists of the union of companies with the same level of production to achieve a higher level of reach, distribution and sales in the market.
According to this, internationalization has a number of benefits for hotel brands, I will mention some of them below:
- Competition is reduced, while national and regional prestige is gained.
- Access to new markets and consumers globally.
- Resource costs are reduced.
- Increase the list of suppliers and shareholders by having so much power in the market.
- Economies of scale are taken advantage of.
A good example of a star hotel brand at an international level is the Hilton Hotel & Resorts of the Hilton Worldwide company, with a presence in 124 countries and 584 locations in total. At this rate, the company has become the leading hotel chain in the market, establishing its five brands (Hilton, Waldorf Astoria, Conrad, Embassy Suite and DoubleTree by Hilton) worldwide.
As we can see, internationalization is a market strategy that gives way to many opportunities. However, let us not forget that there are also disadvantages, including the tourism sector is very sensitive to the interrelationships that countries have with each other and the political, social and economic situation that each one of them experiences.
Resources consulted
https://www.ihcshotelconsulting.com/es/blog/presencia-internacional-de-los-hoteles-como-se-consigue/
https://tecnohotelnews.com/2022/04/cadenas-hoteleras-mas-exitosas-del-mundo/
Top Destinations Known for the Most Exclusive Hotels
When discussing luxury tourism, certain hotels come to mind; these hotels not only offer first-class hospitality but have also become emblematic destinations in their respective cities. Luxury tourism is booming, with an estimated 40% of high-income travelers engaging in this type of tourism, seeking experiences that go beyond the ordinary. These luxury accommodations provide unique experiences, attracting travelers from all over the world who are looking for something truly unforgettable and exclusive. One success story is the Burj Al Arab Jumeirah in Dubai, which redefines the concept of exclusivity with its iconic sail-shaped structure and private island location. With its two-story suites, 24/7 butler service, and transport options via helicopter or Rolls-Royce, this hotel offers an unparalleled level of service that transforms each stay into an experience of extreme luxury. On the other hand, in New York, The Plaza Hotel continues to be a symbol of American glamour and history, drawing guests in search of a classic experience in the heart of Manhattan. These destinations not only exemplify exclusivity but also integrate a business strategy that transforms hospitality into a high-value product. The key to success in the luxury tourism sector lies in developing unique experiences that align with the expectations of
The Synergy Between Fine Dining and Global Restaurant Operations: Chef Richard Sandoval’s Success Case
On the road to business success, opportunities and passions don’t always emerge predictably. Sometimes, life’s circumstances and decisions take us in directions we could never have imagined, leading us to discover new vocations and ventures. As a gastronomy enthusiast, I’m drawn to exploring cases where strategic vision and adaptability drive a story of success. Recently, I came across the inspiring story of Mexican chef Richard Sandoval, whose career embodies a unique entrepreneurial transformation. Surprisingly, Sandoval didn’t start his career in the kitchen like many chefs. Initially, his main interest was sports—specifically tennis—and it wasn’t until later, due to unforeseen events, that he discovered his true passion for gastronomy. Chef Sandoval has transformed that passion into a global operation that combines culinary excellence with an ambitious business strategy. Throughout his career, Sandoval has received accolades that attest to his contributions to fine dining, including the prestigious National Toque d'Oro, one of Mexico’s most esteemed awards. Furthermore, his impact on the industry has been recognized in outlets like Inc. Magazine, where he was named one of the “10 Most Inspiring Business Leaders,” a notable achievement in the restaurant world and a testament to how he has leveraged every opportunity to grow and expand
Financial Technologies (Fintech): The Sector That Continues to Capture Investors’ Attention
As the business world evolves, sectors that manage to adapt and innovate are the ones leading the change. Among these, fintech (financial technology) stands out for its ability to integrate technology with financial services, improving and automating processes that were once complex and manual. From digital payments to investment management and insurance, fintech is revolutionizing the way we interact with money. A recent study by the Inter-American Development Bank (IDB) and Finnovista reveals an impressive growth in fintech in Latin America, with a 340% increase in the number of startups in recent years. Brazil leads the region with 24% of these ventures, followed by Mexico and Colombia. By 2030, fintech is expected to generate up to $1.5 trillion in revenue, a figure that reflects the growing impact of this sector. Globally, fintech investment reached $75.2 billion in 2022, though this represented a 46% decrease compared to 2021. However, investors continue to see this sector as a unique opportunity, driven by market expansion and the rising valuation of these companies. The outlook remains favorable for fintech companies that adapt to business needs and add value through innovation. According to Forbes, startups like DataSnipper have gained prominence. This fintech, which uses artificial intelligence to automate