Influence of Marketing Strategy as a Turnaround Strategy on Performance of Four-Star-Rated Hotels in Coastal Region, Kenya
DOI:
https://doi.org/10.53819/81018102t30138Abstract
Globalization, dynamic shifts in customer preferences, and rapid technological advancements pose formidable challenges to the global hospitality sector, exerting adverse effects on sales, productivity, and market share. Faced with these complex uncertainties, Kenyan hotels are navigating difficult circumstances, prompting a thorough examination of turnaround strategies and their impact on the marketing strategies of four-star hotels in the coastal region. This study adopts a method of descriptive research, rooted in Brand Equity Theory, to scrutinize the nuanced influence of marketing strategy implementation on hotel performance. The target population includes 319 managers, out of which 177 were randomly selected through a meticulous stratified random selection process. Data collection utilized questionnaires employing the drop-and-pick method, and subsequent analysis was conducted using the advanced statistical tool SPSS 27. Findings revealed a strong, positive linear relationship existed between hotel performance and marketing strategy (R=0.668). Furthermore, the model indicated that approximately 44.6% of the variation in the dependent variable could be directly accounted for by variations in the contingent variable (R2= 0.446). This study provides valuable insights for navigating challenges in the Four-Star Rated Hotels in the Coastal Region of Kenya.
Keywords: Marketing Strategy, Turnaround Strategy, Performance, Four-Star-Rated Hotels, Coastal Region
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