...Iowa State University Digital Repository @ Iowa State University Graduate Theses and Dissertations Graduate College 2014 A review of studies on luxury hotels over the past two decades Yin Chu Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/etd Part of the Advertising and Promotion Management Commons, Business Administration, Management, and Operations Commons, Home Economics Commons, Management Sciences and Quantitative Methods Commons, and the Marketing Commons Recommended Citation Chu, Yin, "A review of studies on luxury hotels over the past two decades" (2014). Graduate Theses and Dissertations. Paper 13913. This Thesis is brought to you for free and open access by the Graduate College at Digital Repository @ Iowa State University. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Digital Repository @ Iowa State University. For more information, please contact hinefuku@iastate.edu. A review of studies on luxury hotels over the past two decades by Yin Chu A thesis submitted to the graduate faculty in partial fulfillment of the requirements for the degree of MASTER OF SCIENCE Major: Hospitality Management Program of Study Committee: Liang (Rebecca) Tang, Major Professor Tianshu Zheng Fatma Baytar Iowa State University Ames, Iowa 2014 Copyright © Yin Chu, 2014. All rights reserved. ii TABLE OF CONTENTS Page LIST OF TABLES ....
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...Rosewood Hotels & Resorts Case Study Background The Rosewood Hotels & Resorts has been in business for close to 25 years. It operates in the luxury hotel segment, with a focus on one-of-a-kind hotels. Each hotel reflects the local culture and character of its location. Up to this point it has allowed properties to thrive on their own with very little corporate identity. However, management feels there is an opportunity for growth in the market and is considering a new brand strategy; one that would establish the Rosewood brand and incorporate it into the name of each property as well as introduce more Rosewood branded items in the hotels. It needs to present its strategy to the Board of Directors and is questioning how far it can push the branding without hurting the individual identities of the properties. Industry There are two distinct groups in the luxury hotel industry, the “Collections” of individual properties such as Auberge, RockResorts, and Orient-Express, and the Corporate Branded hotels such as the Ritz-Carlton and Four Seasons. Rosewood operates in the “Collections” group. It built its concept around “A Sense of Place®”, which is meant to reflect how each property captures what is unique about its location. This is fairly typical of the “Collections” brand model, where companies focus branding and marketing on individual properties, with the overall corporate brand relatively muted in the background. The Corporate Branded hotels focus heavily...
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...------------------------------------------------- LVMH Moët Hennessy Louis Vuitton Purpose The purpose of this report is to fully analyze the conglomerate, LVMH Moët Hennesy Louis Vuitton SE at both an internal and external level in order to come up with a synopsis of the business’s current performance in the stock market. This project includes research of LVMH’s company background, competitive strategy, the industry: a financial study of the macroeconomics, short and long-term goals, the organizational structure, and financial management. This report will depict LVMH’s present position at all industry aspects to reach the final evaluation of its performance in the stock market. Introduction LVMH Moët Hennessy Louis Vuitton is the world’s largest multinational luxury goods conglomerate, formed in 1987 when Louis Vuitton merged with Moët Hennessy in a $4 billion deal. This group was formed after the 1971 merger between Moët & Chandon and Hennessy. The French conglomerate is headquartered in Paris, France. The LVMH group comprises 70 houses. It is the only group present in all five major sectors of the luxury market, selling: Wines & Spirits, Fashion and Leather Goods, Perfumes & Cosmetics, Watches & Jewelry and Selective Retailing (LVMH Company - An Operational and Functional Model). LVMH has 70 brands, consisting of a retail network of over 3,700 stores and employing 120,000 employees worldwide (LVMH Company - An Operational and Functional Model). With...
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...selection 14 5.4.3 Brand sponsorship 14 5.4.4 Brand development 14 5.5 Packaging 15 5.6 Labelling 15 6.0 Target Market Analysis 15 6.1 Market segmentations 15 6.1.1 Psychographic segmentation 15 6.1.2Demographic segmentation 16 6.1.3 Geographic segmentation 16 6.2 Characteristics 17 6.3 Specific target segment 18 6.3.1 Motivation 18 6.3.2 Needs & wants 18 6.3.3 Relationship level 18 7.0 Analysis of current product 19 8.0 Conclusion 20 9.0 RECOMMENDATION 21 9.1 Quantity improvement & Type adjustment 21 9.2 Promotion Strategies Development 21 9.3 Service development 21 Reference list 22 List of figure Figure 1 8 Figure 2 9 Figure 3 10 Figure 4 11 Figure 5 11 Figure 6 11 Figure 7 12 Figure 8 13 Figure 9 14 Figure 10 14 Figure 11 16 Figure 12 19 List of table Table 1 17 Executive summary This report mainly focus on the current market situation of Shangri-la Hotel Company, providing evaluations and recommendations for marketers of the company to get more involved in the hotels in the Chinese market. A brief introduction of the...
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...global level seems to be a trend right now. The report shows the construction pipeline by stages in which the hotels are in development. It also discusses the three-year forecast of the hotel openings. It also discusses the supply trend in a 5 year time frame. Details Construction Pipeline Project and Guest Room Counts for Each of the Three Stages of Construction, Forecasts New Supply Additions for the Next Three Years, Displays Current Census Counts and Provides New Supply Additions for the Previous Two Years (Lodging Econometrics, 2013). 1. b. The one trend that I think is an up and coming major player with hotel competition is the introduction of Airbnb. The innovative way of travel that the company provides is going to give traditional hotel vacations a run for its money. People do not care as much as they used to about hotel brand when they plan their travel. What they care about is a hotel's location, value, and review (Singh, 2013). 2. a. Similarities among the three websites are that all offer a multiple property sites globally. Two of the three offer luxury property sites only while the other site has property sites that meet the needs of the average family traveler. 2. b. The target market for two of the three is more of the upscale luxury traveler and not the family traveler; more so the investor of luxury rather than the common vacationer. 2. c. One of the sites is strictly a lodging trust company that offers a variety of hotel and resort properties...
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...2 1) Gross Domestic Product (GDP) 2 2) Interest rate 3 III) Industry environment 5 1) Life cycle of Hotel Industry: 5 2) Hotel industry tendencies 5 3) Identify and positioning with competitors 6 4) Research & Development Fees 7 5) Competitors & Hotel industry ratios 7 IV) The company: Accor 7 1) SWOT Analysis: 8 a. ACCOR/IHG/Starwood 9 V) Global Analysis of ACCOR 10 1) Year by year 10 a. 2009: 10 b. 2010: 11 c. 2011: 11 2) Analysis of ratios 12 a. Return on Equity (ROE) 12 b. Net Profit Margin 13 c. Asset turnover 14 d. Financial leverage multiplier 15 e. Total debt 16 VI) Conclusion 17 VII) Bibilography 18 VIII) Annexes 19 Introduction * 2011 ended on positive statistics concerning hotel groups’ growth: every leader is engaged into a worldwide run, because their bank account strength depends on a geographic balance between risks and opportunities. Important hotel groups have enhanced franchise development in 2010 and have increased their number of rooms, some going beyond 600 000. For several years now, Intercontinental Hotel Group is the world leader, but it is followed by three others American groups, Hilton Worldwide, Wyndham Worldwide and Marriott. However, a European (French) group has been able to find its place in this competitive market, and by being the 5th hotel group, ACCOR is the group we have chosen to analyze. It is the most accessible one, with its well known brands like...
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...A Financial Ratio Quarterly Trend Analysis of Marriott International, Inc. Stock symbol: MAR Listed on the New York Stock Exchange By: 1.0 Introduction This report provides a financial quarterly trend analysis for Marriott International, Inc. The U.S.-based company has been in the lodging business since 1957 1 and currently operates in more than 70 countries worldwide 2, making it one of the oldest and largest hotel corporations in the world 3. Marriott International’s stock is publicly traded on the New York Stock Exchange (NYSE) under the symbol “MAR”, which we will use to reference the company throughout this report. Our team chose to analyze MAR for the following reasons: • In our Organizational Behavior class, we completed the “Work Preferences Indicator” and discovered that the field of hospitality management was recommended for everyone on our team. • The hotel industry is booming in Panama (with over 12,000 new rooms currently under construction for delivery by 2013). 4 Marriott has had a strong market presence over the last decade and currently commands one of the highest room rates in Panama City.5 It is also undergoing an aggressive expansion and remodeling of its two properties at this time. 6 • Most of us are frequent business travelers and often stay in Marriott-flagged properties. • One of our team members was a former sales and marketing director for a luxury resort anchored by a Marriott hotel, Los Sueños Resort & Marina in Costa...
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...economic growth: GDP to grow by 8.9% in 2010-11* and 9.0% in 2011-12 2010 INDIA INTERNATIONAL FURNITURE FAIR 16 - 18 November 2011 I Bombay Convention and Exhibition Centre www.indiafurniturefair.com 2011-12 Source: World Bank INDIA FURNITURE MARKET • • Worth US $8 Billion Growing at 30% compound annual growth rate in the organised sector (about 15% of the whole industry) World’s 8th biggest importer INDIA INTERNATIONAL FURNITURE FAIR 16 - 18 November 2011 I Bombay Convention and Exhibition Centre www.indiafurniturefair.com • INDUSTRY SEGMENTS • Residential A major contribution from high-spending middle class population • Office Expanding growth in real estate and office construction • Contract Driven by growing hotel developments and tourism demand INDIA INTERNATIONAL FURNITURE FAIR 16 - 18 November 2011 I Bombay Convention and Exhibition Centre www.indiafurniturefair.com BOOMING SECTORS Housing and real estate...
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...THE LUXURY CONSUMER IN THE NEW DIGITAL WORLD: THEN & NOW 201 Four Seasons Luxury T 2 rend Report Luxury Trend Report | 1 The global luxury landscape and the luxury customer have evolved dramatically over the last tumultuous and transformative three years. The advent of unprecedented new technological innovations, coupled with the increased skepticism left over from the global financial crisis, mean that today’s consumers are demanding honest, accurate, timely and engaging information. They are looking for intrinsic value and a deeper relationship with the brands with whom they choose to support and interact. According to The Affluence Collaborative1, a research powerhouse that dives deep into the habits of high-income consumers, the affluent2 seek out companies and brands that can simplify and improve their lives. In the travel sector, this translates into increased expectations around personalization cutting across all touch points – including digital media platforms – as luxury travellers research, purchase, engage in and reflect upon their travel experiences. The Luxury Traveller Technology Survey3, commissioned by Four Seasons, coupled with leading luxury market research and brand insight, sets out to uncover how consumers want technology to blend seamlessly into their experience, and how those preferences have changed in recent years. strong performance in China and Latin America, are driving growth in the sector. All combined, the global luxury market is expected...
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...Purpose To study the credibility of the to build a luxury resort on the islands, taking into consideration the impacts on tourism as well as the trends, issues and challenges that the hospitality and tourism industry may face. We are also required to come up with a proposal ensuring that responsible tourism are being practiced so that the island can continue to attract tourists through the year. 1.1 Background Information Perhentian Island, known also as ‘Stopover Island’, is one of the two gems located in the East Coast of Malaysia. Perhentian when translated in English means, post. It is clustered off Terengganu which is located further at the Northern of Terengganu which borders the neighbouring state of Kelantan. Perhentian Island’s accessible point is through Kuala Besut. It is a small Terengganu fishing village filled with Kelantanese culture and heritage. The name Perhentian Island itself is known to have originated from fishermen who would find cover by stopping at the island, especially in times of emergency like during a thunderstorm and bad weather. Furthermore, it is also due to the role it plays as a post for traders and fishermen back in those days. Currently, the island’s only permanent inhabitants are living in a small fishing village. The island provides innovative tours with a variety of activities with nature trekking showcasing also their culture and heritage experience. The island has no structures taller than a two storey building with an exception...
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...Business Model and Strategic Plan Part 2 SWOTT Analysis Paper Kyle Fox Integrated Business Topics BUS/475 April 11, 2015 Homayoun Jamasbi External forces and | | | | | | | trends considerations | Strength | Weakness | Opportunity | Threat | Trend | | | | | | | | | Legal & Regulatory | Providing reasonable care | Liable for loss | hire a great lawyer | everyone can | every hotel must abide | | | | of guest property | | potentially be sued | | | Global | potential to expand | some guests may | growth | Terrorist, Ebola, | | | | globally | not like theme | internationally | Risk of disease | Theme restaurantsAnd hotels are popular | | Economic | Lower prices than hotels | bad economy no | great theme | Recession, | bed and breakfast | | | Based upon smaller size | Revenue, smaller size | Easier to expand | unemployment | popular | | | And less overhead | Means fewer bookings, less income | Smaller size | | | | Technological | Website/mobile app | Hosting/ merchant | Worldwide | Denial of service | Websites and mobile | | | available 24/7 | account expenses | customer base | attacks, hackers | App dramatically Increase income | | | | | | | | | Innovation | JapanKoi Inn Application | Not unique in Asian | Theme-based | theft of tech | we are a technological | | | | markets | accomodations | | society | | Social | many social media | social media doesnt...
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...3. Internal Analysis Appendix 29 Introduction: [pic] Taj Hotels, Resorts and Palaces operates under the parent company Indian Hotels Corporation Limited. They have been operating for 107 years, and were positioned as India’s largest hotel chain, with a range of properties for both business and vacation travel market. Owned by the Tata group, Taj maintains a very hierarchical structure, with a senior management team that stems from family connections. The report at hand will evaluate the past and current strategic position of the Taj hotel group, how being under the TATA group umbrella and how this has enabled the brand to grow and develop into the most recognized and luxurious hotel brand within India. Hotel brands Worldwide have been trying to go international, taking the advantage of their brand recognition, economic capabilities and increasing market demands. The Taj hotel group past and current strategies of going international were executed in locations that have an already saturated market or in cities that do not have sufficient ‘Taj’ brand awareness. For these reasons, it is essential for this report to analysis the current macro-environment, industry environment and internal environment which will enable to develop a sustainable competitive strategy that will further enhance the Taj hotel group positioning power. Summary of Macro-Environment Analysis The current Macro environment...
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...INDIAN HOTELS INDUSTRY Consumer confidence low; revival contingent on global environment QUARTERLY REVIEW March 2012 ICRA expects the Indian Hotels industry to finish 2011-12 on a weaker note with subdued pricing power eroding margins. Although some revival in operational metrics was witnessed during late 2010-11, the industry continued to lack the pricing power to drive out of its current stagnancy. Globally weak macroeconomic scenario, the European sovereign debt crisis, geo-political turmoil in the Arab countries, high interest rates, inflation and a muted domestic corporate performance during the current fiscal (year to March 31, 2012) have sapped the industry’s ability to sustain inflation adjusted Average Room Realizations (ARRs). Muted ARRs and high costs have led to one of the weakest nine month (9M) periods (April-December-11) in over five years. With uncertainty continuing to cloud the near term, wavering business/consumer confidence and a sluggish economy, there is no significant trigger for the industry during the next two-three quarters. While the start of the next season (in Q3, 2012-13) may bring some relief to the industry in some specific markets, we expect real traction to return to the industry only by 2013-14; overall, we expect this to be a slow and long slog to recovery. We expect ARR growth during the current fiscal to be limited to around 5%, followed by around 5-8% during 2012-13. In the current inflationary environment, RevPAR growth of around 6-7%...
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...Destination Analysis Tina Boram Dr. Poisson HTM 100 10/27/2011 Destination Analysis Abstract This analysis will show why people travel to a certain destination and the impact that infrastructure, hotels, restaurants, and amenities have on vacationers. We will cover the island of Barbados. I will explain what amenities and attractions are offered and the infrastructure that the country is currently using and what is needed to improve, advance, and boost tourism. I will also examine hotels, amount of rooms, restaurants, and new development. I will conclude by going over new developments that the country needs in order to prepare for future tourism. Discussion Barbados is an island that sits between the North Atlantic Ocean and the Caribbean Sea. There are beaches on every coast because there are no land boundaries. People travel to the island for many reasons including relaxing, getting married, honeymoons, hiking, diving, surfing, and golfing to name a few. Barbados is also a port for many cruise ships so they get an influx of visitors for shopping, dining, etc. when the ships dock. Barbados is very family oriented and all children are welcome to join in the festivities. They also have craft and pottery centers, historic plantations and lighthouses, monuments and statues like Independence Arch and Lion at Gun Hill, museums such as the Hutson Sugar Museum and The Barbados Museum, natural / eco attractions, religious buildings and churches, rum distilleries, scenic...
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...willing to stay longer. Difference in the amount of advertising and promotion, though the nature of the advertising will differ. Young crowd won’t like to hang out with older ones. Step 2: Local and regional transportation Most visitors now arrive by bus and stay one day; the proportion of bus visitors is also increasing. There is a need to focus on travel agents and on providing affordable bus trips for this audience. Should provide accommodations for those traveling via bus (lounge area while waiting for bus arrival, etc.) New focus likely to be on car traffic and some air travel for families, in addition to the bus traffic. Affordable air-fare packages for families might be a good idea. Enough parking space, free valet, etc. Or hotel buses for group-packages to/from airport. The transportation patterns are likely to be quite different and the need for parking, taxi service to/from airport. The distance from airport is important. Bus accommodations will play a factor in the strategy without the theme park. Step 3: Casino Operations Traditional operations of casino, such as gambling, restaurants, shopping, and security, etc. Focus more on adult-oriented entertainment (bars, etc.) to give...
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