A Five Forces Model of Competition to assess the forces that impact competition in this industry (external forces);

For more than 44 years, Harris Rosen, President & COO, Rosen Hotels & Resorts, has been committed to providing outstanding value and service to guests at his nine Orlando hotels, all of which are in very close proximity to Disney World or located on International Drive. The award-winning collection features three convention properties and six leisure hotels (including Clarion Inn), which when combined provide 6,694 guestrooms and suites, 700,000 square feet of meeting and event space, an 18-hole championship golf course, two spas and numerous restaurants all within minutes of Orlandos world-renowned theme parks and entertainment. Rosen also owns Millennium Technology Group and ProvInsure insurance company. Rosen Hotels & Resorts has received national recognition for its innovative self-funded healthcare plan which features a state-of-the-art primary medical care facility for associates and dependents. The company is debt free, has 4500 employees and has high morale and low turnover. They have plans to refurbish and construct 1000 new rooms (adding on to their existing convention centers) but will not begin either of these projects until they have enough money in the bank, which in many instances is hundreds of millions of dollars that are needed. They believe being debt-free is a key competitive advantage. If the key to success in the hospitality industry is the ability to adapt in times of uncertainty, economic downturns and increased competition, please answer the following questions about Rosen's strategy and future