Strategic alliances in the hospitality industry

Authored by: Prakash K. Chathoth

Handbook of hospitality strategic management

Print publication date:  July  2008
Online publication date:  September  2008

Print ISBN: 9780080450797
eBook ISBN: 9780080914343
Adobe ISBN: 9781136439520

10.4324/9780080914343.ch10

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Abstract

Strategic alliances have been increasingly used by firms over the past three decades as a key source of competitive advantage (Chathoth and Olsen, 2003; Hagedoorn, 1996). Cooperative strategies have grown in importance as firms expand and innovate (Insch and Steensma, 2006). Firms have used the networking strategy to sustain their competitiveness and address the challenges they confront in their business environment. In order to address the business risks associated with investments, firms need to identify appropriate strategies to manage these risks and ensure that the strategies they implement result in long-term returns. This is even more the case in an international setting when the risk exposure of firms is higher. This is why alliances with international firms provide a basis to mitigate such risks.

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