Running head: COMPETITIVE DYNAMICS IN HOTEL INDUSTRYCompetitive Dynamics in the Hotel IndustryStudent NameInstitution Name1COMPETITIVE DYNAMICS IN HOTEL INDUSTRY2Competitive Dynamics in Hotel IndustrySame industry businesses are interdependent as they execute different actions with theaim of improving their market position and profitability. Different businesses took variousmoves, and counter moves stipulate the competitive dynamics with the particular industry. Inorder to prosper, businesses must be in a position to anticipate competitor moves within theirlocation and fully exploit their resources by initiating strategic responses. Though strategies suchas; cost controls, revenue management, and brand affiliation can be applied to trigger success incompetitive settings, hotel compositions within particular locations also determine competitivedynamics within the industry (Chen et al., 2016). In contrary to the traditional understanding ofcompetitive dynamics, hotels can reap price benefits by co-locating with a cluster of hotels.However, this strategy could be detrimental to high-end hotels that co-locate with lower clusterhotels. Price detriments and benefi ...
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