Nowadays it is almost impossible to have a successful business or create your own company without strong and successful brand strategy, and especially for the hospitality industry, brand portfolio strategy is more suitable. In a modern life, brand recognition is one of the most important things for customers’ choice, and also for future development and success of the company.
The thesis considers the theoretical concepts of sociocultural meaning of brands, brand equity and brand building, brand strategy including unique, corporate, line extension, blend brand and brand portfolio strategies. In addition, empirical part of the thesis covers background of Company X, hotel portfolio, sales, distribution channels, social media and sustainability policy, and the result of main research questions.
There are two main research questions:
• How did the Company X become a famous recognized brand?
• How should Company X maintain and develop its brand to continue as a strong competitor in the market?
To answer these main questions, two sub-questions, which helped to find answers,
have been drawn:
• What kind of actions still help them to be a leading competitor in the market?
• Why do people from different segments (tourists, businessmen or famous
people) choose the Company X hotels?