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Readers of this journal will be well aware of the turbulent, complex, dynamic and competitive nature of today's business environment. As a sizeable and significant part of the British economy, the hotel industry has not escaped this reality. Often characterised in the past as an old, traditional and reliable business, this industry is changing as it matures. For example, patterns of ownership are evolving from a fragmented collection of small independently owned businesses towards large corporate organisations, such as Trusthouse Forte and Ladbroke Hotels. Competition has intensified as a result of this industrial concentration and, confronted by this increasingly hostile and competitive environment, all hotel operators have been forced to take stock and to search for new directions. This, in turn, has produced a fundamental reassessment of the nature of the industry and the path along which it is heading.
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