Hilton Hotels is a multinational American hospitality company, which franchises and manages a broad portfolio of hotels and resorts across the globe.  Hilton Hotels Corporation was founded in 1919 by Conrad Hilton, and today the company is led by Christopher J. Nassetta.  The hotels; headquarters are based in Tysons Corner, Virginia.  The Hilton Hotel Corporation has expansively developed since its inception in 1919, and by 2018, the corporation had over 5,500 properties and more than 894,000 rooms in its operational 109 states across the globe.  Distinguished services are the key pillars that set Hilton Hotels on top of the others.  The corporation offers high-quality services, and they have integrated information technology in all her aspects of service and goods delivery.  As such, digital hospitality favors her and gives the hotel an upper hand to beat her competitors in the market.  The corporation’s digitalization rotates in booking channels, mobile delivery services, loyalty and data personalization, guest experiences and privacy.  Consequently, the integration of technology gives the company a synergetic consequence for her business.

Hilton Hotels enjoys greater markets across the globe because it meets the real needs of varied customers.  They offer more than fifteen different brands at each level of the market segment.  The brands include Conrad Hotels and Resorts, Waldorf Astoria Hotels and Resorts, Tru by Hilton, Hilton Grand Vacations, Hampton by Hilton, and Embassy Suites Hotels among other many brands. Hilton Hotels offers a wide range of products that serve and meet their customers’ preferences for almost a century today(Yong & Oh, 2004).  The corporation has integrated high innovative approaches in her service delivery, products, and amenities.  As such, they have remained stylish, synonymous, forward-thinking or focused and a global hospitality market driver for a long time.  Customers have spoken positively concerning the hotel services that they are smart in design, plenty of innovative restaurant concepts and they provide genuine hospitality services,

Hilton Hotels and Resort offer affordable services to their customers.  They provide amenities and services to business people and families to spend their quality time at the resort.  They provide business rooms, printers, business phone services, rent visual equipment and provide excellent business centers.  For individual convenience services, they offer elevators, safety deposit boxes, electric services, baggage storage services, and lounge services.  For recreational services, they provide fitness rooms and sightseeing tours(Yong & Oh, 2004).  Additionally, they offer accessible and spacious parking spaces and public facilities convenient for disabled people, therefore, complying with the American disability act of 1990.

External factors that affect business performance

Customer satisfaction is a crucial indicator that determines the success or failure of an enterprise because customers get more knowledgeable every day.  Social media, online customer reviews, forum messages and the power of the internet serves as the primary educators of customers.  Therefore, Hilton Hotels must ensure that their services are pleasurable and meet the customer demands at all costs to remain relevant and market controllers.  Additionally, effective communication is directly linked to customer satisfaction and contributes to the success or failure of any corporation.  Usually, customers tend to present themselves to organizations that meet their preferences and their standards (Adele, 2013).  Schultz (2012) argues that as the hospitality competition is becoming stiff every day, hoteliers must have the capacity to strategize creatively to retain their customer’s loyalty achieved through customer satisfaction.

Economic crises is another critical factor that determines the success or failure of an enterprise.  Tourism and hospitality industry has been in the rise recently providing more employment opportunities to the youth(Morvay & Tatar, 2015).  However, when a financial crisis hits the global economy, the hospitality industry records a decline in profits margins they earn.  Financial crisis affects adversely international tourists.  Available literature has demonstrated that a 4% percent decline was recorded in 2007, which translated to the loss of about 6% revenue by 2009 (Morvay& Tatar, 2015).  The hospitality industry marks great decline since her capital income shrinks because of decreased customer spending.  Hospitality industry records downturn in their sales of foods services, lodging and other related hospitality products resulting in some businesses closing down forever.  The financial crises result in fewer customers in the luxury hotels, restaurants, conference and convention centers and the average expenditure per customer.

How company stakeholders improve its financial performance

Ideally, stakeholders determine the fortunes of their enterprise.  They include investors, suppliers, customers and employees.  For the company to increase their financial performance, the stakeholders especially the management must strategize properly and close all possible avenues of financial losses.  Therefore, they must first improve stakeholder relations, which determine the organizational capability to generate more wealth.  As such, they must execute good governance that drives the economic motives of the company.  Secondly, Hilton hotels must establish a good reputation with the customers, market and the community in entirety.  This will attract performing employees and motivate them.  Motivated employees work at their utmost potential, therefore, increasing the corporate financial performance.  Third, corporates must establish an ethical corporate social responsibility with their employees, customers and the community at large.  As such, they will operate on the core values of integrity, transparency, honoring contracts and respecting the institution.Consequently, they will develop a positive relationship with their customers, therefore, competes favorably in the market.  Again, corporates must learn to improve their employee’s welfares as this improves their motivation and develops a sense of ownership in the company.  Lastly, companies must diversify their investments from the profits they make every day.  This ensures constant financial flow in that when one market gains downturn, the other markets safeguard the continuity of monetary circulation.  Hilton Hotels has diversified her economy by selling several brands at different countries across the globe.

Corporate social responsibility concerning Hilton Hotels

Hilton Hotels has launched many corporate social responsibility initiatives that have driven their customer trust and confidence high.  These initiatives have benefited employees and their earnings mainly.  They have demonstrated their much effort in sustainability, which has improved their environment and cost savings (Lewis, 2003).  They have saved $751 million from waste, water, and energy recycling.  Recycling mattresses, soap donation and composting food wastes have achieved a reduction of wastes.

In conclusion, Hilton Hotels are global leading hospitality giants, and they have achieved this through good management; sale of different brands tailored to meet customer preferences and embraced an excellent corporate social responsibility initiative.  However, the company must work to eliminate her external threats that strangle her financial gains such as competition and meeting the real needs of her customers.  Additionally, they must diversify their advertisement strategies to get more customers by integrating appropriate technology.

References

Adele S, 2013): The power of perception in shaping customer satisfaction.  www.customerservicemanager.com/ the power of perception shaping customer satisfaction.htm.

Lewis, S. (2003).  Reputation and corporate responsibility.  Journal of Communication Management, 7(4), 356-366.

Morvay Karakas, K., & Tatar, E. (2015). Impacts of economic crisis on hotel industry–a Hungarian case study.

Schulz R.N (2012). The effects of business image on customer retention in hotels in Eldoret, Kenya. European Journal of business and management.ISSN 2222-1905 (paper) ISSN-2222-2839(online) Vol.4, No18, 2012

Yong Kim, B., & Oh, H. (2004). How do hotel firms obtain a competitive advantage?. International Journal of Contemporary Hospitality Management, 16(1), 65-71.

 
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