Mgm Resorts : An International Hospitality Company

Financially, MGM has not been affected by the incidents experienced in the past with fire safety, a build-up of negative perception of MGM Grand will eventually harm the company. A short-term recommendation has been developed that, when implemented, will not be able to make up for the losses that have occurred, but will help ease the consumer’s minds and perceptions of MGM Grand. A separate long-term recommendation will be presented to help solve the ethical dilemmas that MGM Grand faces.

2008 brought some problems for MGM. On October 29th of that year, MGM reported a sixty-seven percent plunge in third-quarter earnings, due mostly in part to lagging revenues from its Las Vegas properties. On that same day, MGM decided to halt a five million dollar Atlantic City project which was to be built on land next to Borgata Hotel and Casino. Shortly after this announcement, New Jersey gambling regulators were set to deny MGM's suitability to operate casinos in New Jersey. This was due mainly in part to their partner, Pansy Ho, who New Jersey regulators believed could not operate independently of her father, Stanley Ho. This forced MGM to sell their New Jersey property, Borgata Hotel and Casino, which was a highly profitable piece of business. Finally, at the end of 2008, MGM decided to sell its Las Vegas Treasure Island property. Around the same time, MGM also introduced Jim Murren as their new CEO. Murren was behind many of the major acquisitions that helped transform MGM and had been repeatedly honored as the gaming and lodging industry's top CFO by Institutional Investor magazine. This promotion came at an important time as MGM had fallen on some hard times.

Tourism is one of the most international industries. Globalisation is the gradual forging of links between groups and societies until they finally reach around the globe in several directions (Smith, D,2006). Globalization is one of the serious challenges facing managers today. It is critical to develop services that are able to satisfy a highly diverse customer base (Ueltschy et al., 2007) Now to keep up with the rising levels of globalization in the hotel industry, there’s a need to understand not only the positive, but also the negative impacts of globalisation. I’ll also talk about the growth and rise of one of the most respected brands in the hospitality industry - the Hilton Hotels. Throughout the evolution of this famous organization, the Hilton has

Marriott is renowned for its elegant and comfortable hotels and resorts. The company caters to a targeted customer base, ranging from the frequent corporate business traveler to the family enjoying their occasional weekend get-away. Marriott has continued its rise in the lodging, contract services, and restaurant industries. The company continuously strives to meet the needs and wants of its customers while strategically maneuvering the rigors of today’s competitive and ever-evolving market of glamorous destinations and convenient services. In order to remain relevant in a highly-competitive environment, Marriott must strike that successful balance of minimizing costs, and gaining and effectively

Environmentalism has become a great concern in all sectors of business, evidenced by the recent jump in energy prices, and empirical data provided by several different environmental and scientific agencies. The Hotel industry is no different, in fact, it would benefit greatly from the recent push for all businesses and business sectors to "Go Green." Yet, the industry has long resisted the changes, and is only recently catching up to other industries that have converted their operations to have greener strategies.

The idea of repurchasing shares was no stranger to Bill Marriott by January 1980. Almost five million shares of common stock had been repurchased on the open market by Marriott Corporation during 1979 at a total cost of $74 million and an average price of $15.16 in the belief that they were undervalued—a belief that still was not fully reflected in the market price. At $19 5/8, the stock was selling at only six times cash flow per share; and its price/earnings ratio of nine was a far cry from historical multiples as high as fifty times as recently as 1973. Its low price seemed to offer once again an obvious opportunity to benefit shareholders. However,

As we discussed in class, every business is faced with these issues and they are important to managers making strategic decisions. One of the first things learned about business is that if there is no demand for a good or service, the firm that provides it will not continue to exist. Over time the hotel industry has continued to change with market conditions and make itself attractive to business

The hotel chain, Astor Lodge and Suites, Inc., operates 250 properties in 10 western and Rocky Mountain states. The company’s customer base primarily comprises business travelers. In addition, the locations of the properties surround airports, large regional shopping centers, and major highways close to suburban industrial sites as well as office complexes. Projections of 2005 fiscal year forecast a fifth consecutive year of a gross loss for the firm. The estimates include an anticipated $422.6 million in company lodging revenues but a net loss of $15.7 million for 2005. As a result, Joseph James, president and CEO of Astor Lodge and Suites, Inc., initiated a challenging goal for executive management to devise a strategy achieving net profits in two years and sustaining positive growth in the future.

Since its foundation in 1927 Marriott Corporation grew into one of the leading lodging and food services in the US. With three major business lines: lodging, contract services and related business, Marriott has the intention to remain a premier growth company. To achieve this goal the corporation’s strategy is to develop aggressively appropriate opportunities within their business lines. Marriott would like to be the preferred employer, the preferred provider and the most profitable company in each of the operating areas. The financial strategy includes four key elements:

Delicate consideration of factors pertaining to the internal and external environment, are a necessity in executing Hyatt’s ultimate goal of “being the preferred brand”. Internal and external environments are factors that may be within or beyond the control of the firm. Theses factors influence the direction, action, structure, and internal process of an organization. The operating, industry, and remote environments are sub-environments that are associated to a firm’s environment (Pearce and Robinson, 2013). Its associates, guests, and owners through its presence in each community it is located in impact Hyatt’s environments.

Wynn Resorts Limited is a publicly traded corporation based in Paradise, Nevada that is a developer and operator of high end hotels and casinos. It was formed on October 25, 2002 by former Mirage Resorts Chairmen and CEO Stephen A. Wynn. The target client base for Wynn Resorts are affluent individuals who seek the highest quality—Wynn and its sister property Encore hold more Forbes Five Star awards than any other casino resort in the world. Recently, Steve Wynn has taken his brand global by building in Macau, China. With the opening of the Wynn and Encore Towers, Steve Wynn has proven that upscale gambling can be accomplished outside of Las Vegas. Steve Wynn’s marketing strategy is to emphasize the quality of service

Marriott International envisions itself to be the world’s lodging leader. Its mission is to provide the best possible lodging services experience to customers who vary in backgrounds, language, tradition, religion and cultures all around the world. Marriot is committed to environmental preservation through using environment-friendly technology and engages in social responsibility and community engagement.  We value our shareholder’s so we will only take steps that will ensure our growth. Most importantly, through our “spirit to serve”, we emphasize the importance of Marriott’s people and recognize the value they bring to the organization’s growth and success. It aims to increase revenues by 9% every year, to increase

Many hotels utilize sustainability as a strategy setting for operations, and as a critical success factor (Boerner, 2010). A company become more sustainable by evaluating the positive and negative environmental, economic, and socio cultural impacts on hospitality industry and helps the operation to be in profit and minimize waste or harmful aspects. Environmental certification program for hotels Provides technical guidance. Participating facilities area warded between 1and5 Green Keys depending on loyalty to criteria (LRA Worldwide,

While, Marriott International Inc. has hotels in nearly 90 countries, and 19 different brands; As well as a reward program with nearly 55 million members all over the world, and is still expanding. In Marriott International’s 2015 annual report, is a message to the shareholders. In its message the company’s future growth is stressed. In fact, Starwood Hotels & Resorts Worldwide are acquisitions of Marriott International and are currently being incorporated. Additionally, Hotels in Africa, Asia, Europe, and the U.S. are currently under new development or renovation; although, 77% of Marriott International’s rooms were in North America at the end of 2015 (as can be seen in figure 2 on page 7). Also, the company expressed its concerns on environmental sustainability, and its goals to become more environmentally conscientious. Furthermore, technological improvements thru ought the many hotels, and reward’s program were discussed. Such as virtual reality room service, improved Wi-Fi, mobile check in, and Apple Pay. This message gave shareholders information on the company’s financial standing, and ultimately a guide on how the company plans to boost revenue by appealing to customer wants and needs.

The organization has explicitly kept this advantageous environment over other organizations by improving its service capacity. Additionally, the organization ensures that it stays ahead of its rivals by engaging in research and development that focuses on luxury products and markets analysis. The Ritz-Carlton hotel uses data from its research to predict the future of the industry; therefore able to dictate what and how the market will trend in the foreseeable future. Another factor that keeps the organization’s advantage over its rivals is that while rivals tend to become a hotel brand in the industry, Ritz-Carlton has rather position itself to be a leader and lifestyle brand that constantly develop new properties and ensure that customers live the culture of the hotel. The final factor that has kept the advantage of the organization intact is the culture of trust that exists between the management and employees. The leadership of the hotel lives and communicates the organization’s value to its employees who in turn satisfy customers in a way that they often anticipate a return visit. These are some of the reasons that the Ritz-Carlton hotel continued advantageous environment over its rivals has persisted in the hotel and resort industry (Reiss,