Recent literature in strategic management points to the development of functional skills and resources appropriate to the competitive setting. Thus, a thorough understanding of competitive conditions is critical for determining which functional skills are most likely to contribute to a fm's competitive strategy. This paper presents an analysis of the competitive environment of the hotel industry for each of five location-based segments: airport, resort, center city, highway, and suburban. Using published industry data over a seven-year period, three dimensions of the competitive environment-munificence, complexity, and dynamism-are assessed. The results show important differences between segments and indicating a need for unique combinations of skills and assets within each segment.
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