Intercontinental Hotels Group
2.Background of Intercontinental Hotels Group (IHG)2
3.Evaluation of Intercontinental Hotels Group Strategic Plans2
4.Intercontinental Hotels Group’s Strategic Plans3
a.Improving the performance of their brands3
b.Generating excellent returns from their hotels3
c.Putting their market scale and knowledge to good use3
d.Strengthening our organisation4
e.Corporate Responsibility strategy4
5.Intercontinental Hotels Group’s way of Implementing their Strategic Plan4
6.Benefits of their Strategic Planning5
This report examines the background of Intercontinental Hotels Group and the types of business model it adopts in its operations. It also investigate the how it use strategic plans to compete in the markets that it operates and the benefits it attached from having strategic plans down to implementation and monitoring.
In summary, Intercontinental Hotels Group is a worldwide company focusing of the hospitability and tourism industry. It has clear vision, mission and values which were supported with sensible strategic policies to achieve their organizational goals. Implementing the strategies in the best possible way and monitoring their progress which enables them to refine their strategies is at the heart of their operation.
2. Background of Intercontinental Hotels Group (IHG)
The history of Intercontinental Hotels Group date back to seventeen century, when William Bass started Bass Brewery in1777. The business continues to develop within UK into other regions and in the late eighteen century it became the leading Brewers and registered its trademark in 1876 as Bass Red triangle. The company enters into hotel industry in 1988 when it bought Holidays Inns International which was followed by a number of acquisitions internationally. Ten years later, it acquired Intercontinental Hotel Company and their prominent hotels and resort across the globe. It was until 2002 when the group decided to separate the Hotels and soft drinks business make the Intercontinental Hotels Groups Plc a separate business to focus on Hotel industry and listed its stock in UK and US stock markets in 2003. (Our History).
Today the group has over 4,400 hotels under its portfolio worldwide offering midscale and upscale services to its customers. The main business model of the chain is ownership, managing and franchising of hotels worldwide operating under seven hotel brands which includes; InterContinental, Holiday Inn, Holiday Inn Express, Hotel Indigo, Crowne Plaza, Staybridge Suites and Candlewood Suites. “(IHG at glance Factsheet)”.
3. Evaluation of Intercontinental Hotels Group Strategic Plans
It must be said that almost all companies have a strategy be it formal or informal because the strategy requires knowledge of the business and what you want to achieve in the future. This can be back by K. Andrews (1971) who defined strategy as “the pattern of major objectives, purposes or goals and essential policies or plans for achieving those goals”. The Intercontinental Hotels Group’s strategic goals start from its vision/mission which set out it purpose and objectives and states that the chain’s ultimate goal is that they “want to grow by making their brands the first choice for guests and hotel owners”. This bold statement continues to determine the future operations of the group and all others plans are geared to ensure that the ultimate goal is achieve. The vision and mission statement determines how a company operate as it set out what they want to achieve in the future. This is back by the values which outlines how a company behaves and for Intercontinental Hotels Group their values includes; “Do the right thing, Show we chare, aim higher, celebrate the difference and work better together”.
All the chain’s operations boil...