Hotel-Booking Market

At the same time this was happening, a handsome and wealthy young man, who went by the name H. H. Holmes, arrived in Chicago in 1886 searching for work as a doctor or pharmacist. He established his pharmacy, but later bought a small land across the street and built a construction that was perfect for his practice of disposing of the bodies he murdered. The first floor was for his pharmacy, along with retail shop fronts. The top two floors had apartments for rent with secret hallways and passages to the basement to make the disposal of bodies convenient. Holmes decided to turn his building into the World's Fair Hotel when he found out the Fair site was near him. The building underwent another construction project and he added a kiln in the basement

Our team chose the hotel industry in the United States for our economic analysis. The hotel business has existed since the earliest times, and has influenced the development of the economy since the founding of this country.

Barriers to get into the hotel industry are huge, which make the hotel industry not look appealing to new entrants.

Developing a business plan for an existing business or conducting a feasibility study for a new venture requires a thorough analysis of market conditions. Market conditions in your area have a significant impact on the profitability of your hotel or motel. The strength of the local lodging market affects how many rooms you can sell and the rates that you can charge. This guidebook will help you analyze your market so that you can gauge the potential of your operation and make more informed operating and investment decisions. On the pages that follow are a series of checklists to help you collect and analyze information as part of a hotel/motel market analysis. The checklists, tailored to the hotel/motel

TripAdvisor is the world’s largest travel site, it enables potential customers to see other opinions before they part with their cash. TripAdvisor has over 60 million visitors per month looking through over 75 million reviews of hotels and restaurants. The site operates in 30 countries worldwide making it a powerful and unstoppable force. Tripadvisor.co.uk (2013) The next review site that even comes close to TripAdvisor is booking.com with a mere 14 million reviews per month compared to the review giant of TripAdvisor.

àAs a result, the number of user-oriented travel tools on airlines’ direct Web sites increased dramatically in just a few short years. Aggregator Web sites : —  Such as Expedia.com, Orbitz.com, and Priceline.com —  A pseudo-competitive position relative to the airlines' own direct Web sites but also offered services beyond flight purchase, including hotel and vacation packages. —  The airline paid a fee to the

Operations management concerns with managing of resources that directly produce the organization’s service or product. These resources are brought together by a series of processes so that they are utilized to deliver the primary service or product of the organization. Thus, operations is concerned with managing resources through transformation processes to deliver service or products. (Rowbotham, Galloway and Azhashemi, 2007) Since the mid-1980s, the rate of growth of major service sector categories as hospitality services, has been approximately double that of other industries (Daley et al., 1998). Due to the unique characteristics of service operations, such as heterogeneity, inseparability,

Travel meta-search is going through an exponential growth phase for the past few years. Kayak which was founded in 2004 processed close to 1.6 billion queries in 2013 alone (McCartan, ). Priceline Group acquired Kayak in 2013 and in the same year Expedia acquired Trivago for approximately $564 million. Kayak was an early started followed by Trivago, TripAdvisor and recently Google with its Google Hotel Finder (Schaal, c). In a recent interview with Skift.com, Kayak CEO Steve Hafner acknowledged that TripAdvisor, Trivago, and Google are formidable competitors and it 's becoming increasingly difficult for smaller players to keep up with the level of innovation (Schaal, b).

The Hotel is situated in the bustling East Cork market town of Midleton, located just 14 miles (15 mins drive)

As a result, we have dozens approaches how to meet the customers’ requirements and offer all the necessary services to them. Searching engines as Google, Yahoo and Yandex are those services that help to the costumer to choose the most desired and comfortable way of purchasing. Modern hotels can use social media sites to advertise their product or their company. Moreover, due to the social networks as Facebook, huge hotel chains could create web pages where they could keep in touch with their customers by informing them about upcoming events and activities. Internet has become the most famous resource that has ever been invented. So that, we could observe increasing activity from young generation. Companies also need to recognize the advantage of internet, as television viewings have been compressed by the time spent online. As a result of internet influence, more airport tickets, room numbers and cruises are booked

(a) make sure that the way he manages the hotel is appropriate to the way it competes for business;

Ogut, H. and B. K. O. Tas. (2011). “The influence of internet customer reviews on the online sales and prices in hotel industry,” The Services Industries Journal. Vol. 32(2): 197-214.

The hotels that we are writing about are The Ritz Carlton Singapore, the Intercontinental Singapore Hotel and the Marriott Singapore. Our main hotel will be the Ritz Carlton Singapore. We chose the hotels as they pose as prominent hotels in Singapore and they are also known overseas as well. Although they are quite similar, there are also several differences that can be seen as well. They are also very distinct in branding, and value their brands very highly. All three hotels boast amenities and services that will cater to a majority of their customers. As well as an experience that they believe we will value as customers.

Price, which is one of the most important elements of the marketing mix, can be difficult to get right. Pricing too high, or low, can negatively impact on customer satisfaction and revenue. Adopting a pricing strategy is necessary to achieve desired sales objectives (Chan & Wong 2005).

The hotel business is something I’m incredibly interested in, due to the fact that I see it as a huge opportunity to make tremendous profits. One day I would like to own my own hotel business, but I want to own various hotels, not just one. Titan Inn would be the name of my hotel business and our services would include, breakfast, decent prices, room service, pool service, free Wi-Fi. All these services would be crucial to provide a great customer service and be certain customers are returning to my hotel business at a consecutive rate.