Hotel Development Cost

In this report, we will be concentrating on Millennial hotels - hotels that target Millennials or have a Millennial-liked mindset. We will discuss the factors, specifically revolving around the marketing mix, that are likely to affect the success of Millennial hotels.

The local community lodging industry with its two or three property types makes for an interesting discussion. (1) What types of properties are present in your community, and how have they evolved? (2) How does each meet guest needs? (3) What kind of technology do they apply to serve guest needs? Begin by answering question (1) and (2).

Sales (in millions) As reported (nominal) Adjusted (real) 2007 $178,199 $178,199 2006 $171,179 $176,019 % Change 4.10 1.24

The growth strategy of Four Seasons Hotels and Resorts, Inc is multifaceted. Their growth strategy is driven by opening the finest hotel, in the right destination, which will lead to the right economics for the hotel owner. They not only discover destinations where their consumers want to go, but target those markets where they want to create their presence and to increase awareness for future Four Seasons’ travelers. But at the same time investigate opportunities to engrain their positions in those destinations, where they have already operated. According to Kathleen Taylor ‘Four Seasons has approximately 50 projects in various stages of design and construction. The vast majority will come outside the U.S., with a focus on China, India and Latin America. There are lots of cities in those areas where Four Seasons needs to

As we discussed in class, every business is faced with these issues and they are important to managers making strategic decisions. One of the first things learned about business is that if there is no demand for a good or service, the firm that provides it will not continue to exist. Over time the hotel industry has continued to change with market conditions and make itself attractive to business

The hotel chain, Astor Lodge and Suites, Inc., operates 250 properties in 10 western and Rocky Mountain states. The company’s customer base primarily comprises business travelers. In addition, the locations of the properties surround airports, large regional shopping centers, and major highways close to suburban industrial sites as well as office complexes. Projections of 2005 fiscal year forecast a fifth consecutive year of a gross loss for the firm. The estimates include an anticipated $422.6 million in company lodging revenues but a net loss of $15.7 million for 2005. As a result, Joseph James, president and CEO of Astor Lodge and Suites, Inc., initiated a challenging goal for executive management to devise a strategy achieving net profits in two years and sustaining positive growth in the future.

The hotel industry is a very hard industry to enter into, due to one of the biggest obstacles, which is brand recognition. Right now there are a few large hotel chains that make a large footprint in the market. It is hard for a new entrant to come into the industry and compete with these large hotel chains without bringing something new to the table. Many large chains in the industry dominate the industry due to economies of scale due to franchising.

Hilton Hotels is one of the biggest players in the US lodging industry. It contributes to about 9% of the total rooms in US lodging market. It has presence in over 78 countries with more than 2500 hotels. Lodging industry is highly capital intensive industry, so to reduce capital expenditure Hilton Hotels opted for self-owned Hotels as well as franchising model with the real estate owners. One of the key features of lodging industry is low switching costs for customers. There is very little margin to differentiate from the major competitors in the industry which include Marriott international, IHG, Accor etc.

• Evaluating all current and future purchasing policies and practices across the brands to ensure that the range of products placed in hotels not only enhance the guest experience but drive value for owners while supporting the company's overall

In old days it was okay for a hotel to have only rooms and a restaurant. Today a hotel has to have a recreation centre, a beauty farm, a shopping

The following report was derived from the primary use of secondary sources, in addition to telephone contact with hotel representatives. Secondary sources included research from the Internet, industry books, company marketing communications, trade and general business newspapers and magazines, among others. Through all the sources, relevant data and information was extracted into the report's appendices. After individual analysis and group discussion, the following report was devised. The mandate of this report is to provide a macro examination of the luxury hotel industry and specifically the future outlook of Four Seasons Hotel and Resorts, Inc.

As mentioned earlier in Chapter 1, China Lodging Group is a multi-brand hotel group which as per now manages seven hotels with each having a specific target of customers. These Hotels are Hi Inn, Han Ting Hotel, Elan Hotel, Star-way Hotel, JI Hotel, Manxin Hotel, and Joya Hotel. Its mission statement is to create great brands of hotels that guests love. The group predicts to be owning over a quarter of the hotel market share in the next five years to come. The two major objectives that the company has set for the next five years to ensure that they attain their goal is to build one large five-star hotel in the heart of China Capital’s serene outskirts and to ensure that they hire enough

The Ritz-Carlton Hotel Company operates within the upscale & luxury hotel industry. While it could be argued that Ritz-Carlton operates in the more broad and inclusive lodging industry, they offer a highly differentiated product and service and therefore find themselves operating in an exclusive industry alongside very few direct competitors, such as Four Seasons Hotels, HongKong and Shanghai Hotels, and Starwood Hotels & Resorts. Therefore when analyzing this industry I will not be including cheap hotels, motels, lodges, or inns, unless to offer potential substitutes to luxury hotels. In order to assess the attractiveness of the upscale & luxury hotel industry, an analysis of the general environment surrounding the industry must be

2. Compare and contrast the general strengths and weaknesses of large, hotel chains such as Marriot and Hilton, bed & breakfasts, and Airbnb.

Research indicates that whilst a price reducing strategy, which is commonly used in response to strong competition, may see short term gains, rarely does it attract and retain new customers (Chan & Wong 2005). In Hong Kong many hotels have reduced their room rates to remain competitive, however the above implies that hoteliers would do better to understand how their services and facilities influence customer satisfaction rather than simply reducing