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The Ritz Carlton

Date post: 15-Jan-2017
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Nicole Borchers Samantha Delorenzo-Popham
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SWOT Analysis

Nicole BorchersSamantha Delorenzo-Popham

Company OverviewFamous five star hotel that is best known for its gold standard of hospitalityHas received all of the major awards that the hospitality industry and leading consumer organizations can rewardThis luxurious hotel franchise began with a man by the name of Cesar Ritz who is known as the king of hoteliers and hotelier to kings.After his death the Ritz-Carlton Investing Company bought and franchised the nameIn 1927, the first Ritz-Carlton Hotel was built in Boston.1940 none of the hotels were operating except The Ritz-Carlton, Boston due to the death of Cesar Ritz. Starting as two exclusive hotels in Europe, the management company has grown 85 hotels worldwide in 30 countries

The Ritz-Carltons Mission StatementTHE CREDO

The Ritz-Carlton Hotel is a place where the genuine care and comfort of our guests is our highest mission. We pledge to provide the finest personal service and facilities for our guests who will always enjoy a warm, relaxed, yet refined ambience. The Ritz-Carlton experience enlivens the senses, instills well-being, and fulfills even the unexpressed wishes and needs of our guests.

SWOT AnalysisStrengths

Its a growing company with new locations coming in the future 85 hotels worldwide in 30 countries35,000 employeesRitz Carlton Leadership Center One of the luxury hotel chains in the worldProvides quality service to customers

Weaknesses

The cost to stay at the hotel is highLimited marketHigh employee turnover rateSuicide bombing 2009

Opportunities

More job opportunities for people because of the expansionMore tourism in the locations the hotels are at New hotels will allow for even more expansion in the future

Threats

Other luxury hotel chains like Hilton, Four Season, Westin, etc. Increasing costs for operations indirectly affecting hotel ratesDecline in tourism industry due to natural disasters, terrorist activities etc.

TARGET MARKET AND PRODUCT POSITIONINGknown for their very personalized marketing strategymost famously known now for their strategy of social mediaalongside social media, the Ritz was awarded by the Hospitality Sales & Marketing Association International (HSMAI) with the Adrian Platinum Award for Trio of Short Films.three short films, under ten minutes each, were shown on The Ritz-Carlton website (http://www.ritzcarlton.com/), YouTube, hotel guest room televisions around the globe and film premiere launchessubtly showed the hotels nationally renowned service, which resonated with brand loyalists as well as non-traditional customers. Other promotional strategies include:individually reaching out to customers defining key measurements having a well put together web sitecreating yearlong goals, these were among the best and more recognized for the Ritz-Carlton.

Continuedmajor segmentation variables used by the Ritz Carlton: -Age - zip code -wealthMarket Profile: - Wealthier individuals - Travelers - Business peopleEach hotel also focuses on their individual hotel location

ContinuedRitz-Carlton as a whole, It promotes itself to many market segmentation variables depending on location, wealth, and age. - Importance of getting the demographics for the hotels area in order to select market segment profiles.Mostly built in wealthier areas, attracting people of prestige value.The product positioning has been successful for years past, and years to come. -They reach their organizations goals, by staying the number one luxury hotel and keeping individuals coming with great experiences. Their brand is extremely recognized and respected by many, and their advertising has won awards for their initiative and creative outreaches.

Marketing Mix/Marketing StrategyProductRoomsPeople come to the Ritz for a comfortable stayHigh quality Nicer room featuresHigh standard for good service makes customers feel welcome

The Ritz Carlton BrandThe Logo Collection

Other BrandsLuxury brandsMens, Womens, Kids clothingAccessories (sunglasses, jewelry, handbags, hats, ties)Skincare products BeddingAsprey PartnershipSpa items

PricePrestige pricing strategyHotel Rates are high

Hotel (In Denver, CO)Room Rates (Lowest)Room Rates (Highest)Motel 6$46.99 / Night$55.99 / NightHoliday Inn$90.00 / Night$163.00 / NightRitz Carlton$259.00 / Night$1,400.00 / Night

Policy for each employee to spend up to $2,000 per guestOther products

PlaceLocated in touristy areasEx. Colorado has 3 locationsDenver, Vail, Bear Creek MountainCalifornia & Florida have the most locationsMiddle East, Asia, Europe, Latin America

http://www.ritzcarlton.com/en/Locations/Map.htm

Naples, Florida

Maui, Hawaii

Hong Kong

Berlin, Germany

PromotionThe Ritz Carlton Magazine

The Ritz Carlton Rewards ProgramCustomers have a rewards card and when they use it they earn pointsThis is a good way to keep people coming back

Other ServicesSpaWeddingsWedding MagazineBusiness Meetings

ConclusionDevoted to making sure their customers have a comfortable stay and keeping up their luxurious image are ways the Ritz-Carlton exemplifies success.Everything about their company, their hotels, products, offers, advertising, and even their website, are all examples of what their luxurious image looks like.Every customer is well taken care of. They strive for a good reputation.


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