Keywords: hospitality industry, hotels, tourism, strategy, value, creative marketing, competitive advantage, strategic reflexivity, hotel industry
Strategic reflexivity in the hotel industry - a value–based analysis
In an incessantly altering global tourism industry, hotels are forced to develop new strategic models. Models that do not simply fit new competitive conditions, but perpetually and automatically predict and adapt to these, according to the pace and nature of change. The aim of this research is to examine related knowledge towards constructing an applicable concept for the practicing hotel industry, in the context of 'strategic reflexivity' and through a value–based analysis. The findings indicate the need for a strategic transition from current mechanistic approaches to more creative marketing notions; that are based less on traditional elements of analysis and more on the perception of value. Value is presented as being multi–directional and multi–perspective, in the sense that it is created by all stakeholders and for all stakeholders. The research finally proposes a preliminary generic value–based strategic reflexivity model for individual hotels, expanding in parallel on its key theoretical and managerial implications.