Value Creation in Hospitality

Critical challenges facing the hospitality industry’s value creation models in the twenty-first century are increasing by the ever-changing customer expectations. Traditional approaches to market dynamics, pricing or distribution do not any longer enable companies to reach the full potential and future profit level requirements. In this context, hospitality operators need to step away from old practices and start to embrace more holistic, collaborative, customer-centric and sustainable business practices. Since value in the hospitality industry is clearly co-created by the customer and the company itself, it’s evident that company must be able to capture customers’ expectations and translate them to strategies and tactics. To be able to achieve these goals, it is essential to understand how teams can align themselves throughout the organization. While there is a focus on hotels, this course is also relevant to the other sectors of the hospitality food and beverage sector, events, rentals, etc. The participants are expected to watch all the video content under each module, acquaint themselves with additional materials provided, and then take the quizzes. The quiz can be taken 3 times and we recommend that participants watch the videos and practise until they feel they master the topic.