The Hilton Hotel and Resorts is an international chain of hotel companies in North America founded in 1919 by Conrad Hilton. There are currently 540 hotels operating in 78 countries and would be considered as an entrepreneurial company according to Schumpeter’s view of entrepreneurship. The Hilton accomplished many firsts in its lifetime, including the first coast-to coast hotel chain in the United States, to install televisions in its guest rooms, to earn both LEED and Green Seal environmental certifications, to franchise, to become an airport hotel and utilize a multi-hotel reservation system. In 2007, the Hilton was ranked at 296 in the Fortune 500, with profits of around $572 million per annum. The Hilton continuously innovates with their products, developments, and partnerships. They have currently launched a partnership with Global Soap Project, a nonprofit organization that recovers and recycles soap from hotels that would otherwise end up in landfills, as well as landing a new development deal in Argentina. Their new HHilton reward system also allows members to redeem points in return of free stays at their hotels. Hilton Hotel and Resorts operates under Hilton Worldwide, which is owned by the Blackstone Group, a private equity firm.
References Links: http://www.quickmba.com/entre/definition/
http://www.hilton.com/en/hi/brand/about.jhtml
http://money.cnn.com/magazines/fortune/fortune500/2007/snapshots/628.html
http://www.hotelnewsresource.com/HNR-companyid-coid-11006-Hilton.html
http://en.wikipedia.org/wiki/Hilton_Worldwid
This was a truly insightful read! As someone involved in the hospitality scene in Bali, I can relate to many of the points shared here. We’ve seen firsthand how travelers today are seeking more personalized and peaceful stays, especially in serene, private villas away from crowded spots. At Boutique Villas Bali, we try to offer exactly that an experience that combines comfort, privacy, and authentic Balinese charm. Thanks for highlighting what makes travel so meaningful today!