The Market Structure within Hilton Hotels & Resorts.
This essay is a personal study and explanation about the market structure that surrounds the Hilton Hotels & Resorts.
Hilton Hotels is a hotel company that has grown from a few employees in 1919, when it was founded by Conrad Hilton, to over three hundred thousand . They have more than 540 hotels in 78 countries around the World.
I aim to set the scene by exploring the environment because to fully understand the way a hotel company such as Hilton works, it is necessary to know the complex environment where the company operates as it is constanly changing. It is important to distinguish between the internal and external environments as both of them affect the company in different ways.
The internal environment of Hilton are those areas which are directly under the influence of the organisation, such as the financial structure, the physical resources, human resources and also intangible resources, like brand names, trade marks, etc..
The external environment, on the other hand, is formed by the factors that affect its performance and these are not under the control of the organisation. The external environment can be divided into the immediate environment which includes the suppliers, customers, competitors etc.. and the general or remote environment. These are national, international, political and economic variables.
After exploring the main types of martket structure and considered the differences between them I’ve got to the conclussion that the Hilton Hotels Group operates in a monopolistic competition market, this type of market has features of both monopoly and perfect competition.
In the monopolistic competition there are freedom of entry and numerous companies that produce their own good and services.
What they do to make theirselves different from their competition is to create products and services that are slightly different than the others. By doing this they have a bigger control...