Competitive Strategies Adopted by Hotels in Kenya and Their Effects on Financial Performance: A Case of Serena Hotels

Abstract

This review presents a set of competitive strategies adopted by business firms in order to create value to customers and remain competitive in the market, how to create a competitive advantage, and factors affecting competitiveness. The objective of the analysis is to find out the competitive strategies adopted by Serena hotels, enabling them to remain competitive in the turbulent tourism industry. Secondary Data was collected through a theoretical review of reports from the company's annual reports and the previous research studies carried out within the hotel industry in Kenya. Data was analyzed and comparisons made to answer the research question. The study found out that the generic strategies influence the performance of Serena hotel. TPS Serena focuses on strategic locations and products then differentiates its products by continuously upgrading them to meet customers' preferences and expectation. The expansion strategy as well as the human resource management practices has been used to expand Serena's customer base and to enhancing employees' motivation and royalty.