TRM 472.01 BUSINESS STRATEGY PROJECT

8/6/2019 TRM 472.01 BUSINESS STRATEGY PROJECT

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TRM 472

BUSINESS STRATEGY

Group Project:

Submitted by: Yasemin AKSOY & Nee ROMAN & Gnce MALAN

Sumitted to: Maria DOLORES ALVAREZ

04/06/2011


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T BLE OF CONTENT


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INTRODUCTION

Four Seasons brand is born in 1960 and the first Four Seasons hotel opened in 1961 in Toronto,

Canada. Four Seasons has grown from 125-room motor hotel to 84 in 34 countries in 60 years

focused solely on the guest. Four Seasons Hotels, Inc. is a Canadian-based international

luxury hotel management company.

Four Seasons Sultan Ahmet is created

from a century-old neoclassic Turkish

prison in the core of Istanbul. It is very

close to the Blue Mosque and Topkapi

Palace. Four Seasons Sultan Ahmet is

luxury boutique hotel focusing on quiet

and comfort which has 65 guest rooms and

suites, an open courtyard. Four Seasons

follow the new trend in accommodation

industry which is becoming a boutique

hotel and in the same time depending on

the chain.

Four Seasons Sultan Ahmet expertise in world cuisine and offers superior accommodation

facilities to its guests from all around the world with its old-neoclassic Turkish prison. It

provides hospitality service for events and leisure tourist and also business people and it

operates in tourism industry. Its services are accommodation which generates 55% of

revenues , and the meeting, F&B ,and outside catering which divisions generate 20% and

events that generates the 25% of its revenue. Four Seasons Sultan Ahmets main competitors


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are W Hotel Park Hyatt Hotel Best Western Acropol Four Seasons Sultan Ahmet is a hotel

which serves forthe both domestic and international market with luxury standards. Itis private

own by Max Sharp and franchised to Istanbul beginning with Four Seasons The Bosphorus and

the head office for Four Seasons brand in Canada and the Europe head office is in Switzerland.

EXTE NALENVIRONMENT

ECONOMIC ENVIRONMENT

To start with economic environment international tourism had recovered with the growth of

7% in 2010. But still the tourism sector continues to face with challenges from uncertainty in

many economies to unemployment and increasing energy prices. Hence, the companies in

tourism, tries to cut down their cost and revise the priorities of company.

POLITICALENVIRONMENT

The political environment has a significant effect in the industry. The government s policies,

legislations, code oflaws affectthe supply and demand in tourism. The politicalinstability has

negative impact on hospitality and makes the business activities shrinking. For instance, after

the MaviMarmara Ship case, Israel has canceled allthe reservations in Turkey. To explain the

impact oflegal forces on hospitality industry with an instance, the VAT (Value Added Tax) is

for accommodation %8 and alcoholic beverages %18 .This situation can be evaluated as an

advantage for the hotel s restaurant which serve nonalcoholic beverages and disadvantage for

the hotels that have bars and the restaurants which serve alcoholic beverages.

GLOBALIZATION

From the globalization perspective, business travel has increased rapidly in the industry. The

companies have been trying to be an actorin the international business. World become a global

village and boundaries are blurred. Employees, managers travel abroad more frequently than


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before. Therefore, the business travel increased the sales volume in accommodation. Another

important industry trend is boutique hotels. Boutique hotels provide quality accommodation

services in small, charming and luxury environment. They offer excellent service, highest

standards, notable beauty and competitive fair prices. In today's highly competitive business

world global hotel chains are constantly looking for getting a share from the boutique business.

To mention the social and demographic environment, hospitality industry offers job

opportunities forthe minorities and the women.

TECHNOLOGY

Technological satisfaction by every type oftouristis so important, so hotels should pursue the

last technological advances and carry out the new applications. The hospitality sector should

improve itself simultaneously with the technology to satisfy the needs and expectations of the

guests.

INDUSTRY

Many types of hotel categorizations which can be counted as historical hotels, special class

hotels, residence hotels, 5 star hotels, 4 star hotels, 3 star hotels, 2 star hotels and guest houses

and boutique hotels are in Istanbul. Boutique Hotels Istanbul provides quality accommodation

services in small, charming and luxury Istanbul hotels. They offer excellent service, highest

standards, notable beauty and competitive fair prices. They are boutique because they are

unique. In Turkey, categorization is done by the Ministry ofCulture and Tourism. Istanbul

hotels are addressed to foreign tourists in general. Most attractive feature of Istanbulis its deep

history. Therefore, many tourists are coming to Turkey for wander-lust tourism. In recent

years, Istanbul has become a significant meeting center. Atthis point, there have been a plenty

of large congress and meeting spaces around Istanbul. Tourism industry in Istanbul is still


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growing and there are structural barriers to entry such as high capital costs, poorinfrastructure

facilities, scarcity ofland.

TRENDS

Green sustainability is changing the way of life. Using of energy, waste management and

going green are the new terms ofthe century. Green hoteltrend is the reflection ofthese terms

in to hospitality industry. With the growing number of conscious tourist aboutthe environment,

hotel management should be taken care way of using energy, disposal of the trash, using

ecofriendly products. Now customers only asking and searching for green hotels,

organizations provide green certificates to hotels, but in future it will be a requirement for

every hotel and if hotels do not follow up this movement, they willlose customers.

Todays guests are more health conscious and environmental friendly. Customers look for new

unique experiences and different concepts in tourism. Therefore, accommodation facilities

structures changed according to this demand. The companies started to focus on organic food,

environmental friendly hotel and boutique hoteltrend.

COMPETITON

The competitors of Four Seasons Sultan Ahmet is W Hotel, Les Ottomans, Park Hyatt, Best

Western Acropol and the main ones of are W Hotel, Best Western Acropol and Park Hyatt in

terms oflocation and sales volume.

Best Western Acropolis a chain boutique hotel. The building is a renovated historical mansion

and located in Sultan Ahmet region. It has 22 suites and air conditioned ala carte restaurant, a

conference room, internet, health club, fitness center, hamam, sauna and laundry service.


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Les Ottomans is opened in 2006 in a renovated Muhsinzade Mehmet Pasha Mansion located

in Kurueme It has 10 special suites. The number of rooms is limited butthe decoration and

the view ofthe hotelis magnificent. Every room has a different name and different design.

W Istanbul is a sub-brand of Starwood Management Company, which is among top 5 most

prominent management companies ofthe world. W Istanbul property has a total of 136 rooms

of 10 different categories. It has 46 Wonderful rooms, 23 Spectacular rooms, 26 Fabulous

rooms and 12 Mega rooms of Standard room category; in addition, 15 Studio Suites, 8

Fantastic Suites, 3 Marvelous Suites, 1 Cool Corner Suite, 1 WOW Suite and 1 EXTREME

WOW Suite. As the names would imply, W has a lingo of its own. W Istanbul places itself as

a concept boutique city hotel.

Park Hyattlocated in historicalMaka Palace in fashionable Nianta residential and shopping

district. It has 90 rooms and has Emporio Armani, Gucci and In-formal stores within the hotel

building. Property is in walking distance to IstanbulConvention and Exhibition Centre.

Competition among three main players revolves around the service, price and relationships

with the customers .There are several competitive issues among these three rivals, such as the

number of meeting and sleeping rooms, prices. It has 65 guest room and 4 different ball rooms.

Ball rooms total pax size 275. W hotel has a total of 136 rooms of 10 different categories. The

property has 4 different meeting rooms, the capacity ofthem is 340 m2, maximum number of

pax is 100. Park Hyatt has 90 rooms and two meeting rooms, size ofthem is 43m2, capacity of

them 12 pax whereas Best Western Acropol has 22 suites and only a small conference room.

Four Seasons Sultan Ahmets competitive environment is only consist of boutique- chain

hotels that are not so many in Istanbul. Four Seasons Brand operates with 2 hotels in Turkey.

Customer profile is comprised of Four Seasons Brand in a remarkable amount with 35 percent,

25 percentlocal customers and the restis composed of other distribution channel.


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Four Season Sultan Ahmet is famous for its old-neoclassic prison design that makes it unique

and known as a trustworthy, prestigious and high-quality boutique hotel by its customers due to

its strong brand name. Four Seasons corporate name gives to Four Seasons Sultan Ahmet the

chance of collecting and analy ing the data about the hospitality industry. With the help of

analy ing the data, this hotel can forecast the next years demand and this situation helps to

establish more realistic budgetary targets in the current market.

External Evaluation Matrix

Key External Factors

Opportunities weight rating

weighted

score

The continuous growth trend in hospitality

industry 0.27 2 0.54International business 0.07 3 0.21

Growth in F&B 0.07 4 0.28

%8 in VAT 0.05 2 0.1

Istanbul as leading city in boutique hotels 0.11 4 0.44

Threats

Competition 0.1 2 0.22

Economic crisis in 2010 0.16 3 0.48

Instability in politics 0.07 3 0.21

Changes in consumer behavior 0.01 2 0.2

Total 1 2,18Table1: External Evaluation Matrix

FS Sultan Ahment Bestwestern Acropol WHotel


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ORGANIZATIONAL CHART

Four Seasons Sultanahmet, a boutique hotel, is managed and operated by Four Seasons

Bosphorus, that is to say; almost every decision is taken from the headquarters of Four Seasons

Bosphorus. These executives are responsible to measure the decisions properties which are

taken by the headquarters. However, headquarters may be inadequate to see specific problems

of the Four Seasons Sultanahmet. So, the executives of each department have responsibility in

order to overcome with the problems faced.

There is diversity in Four Seasons Sultanahmet like all Four Seasons Hotels since it is a

franchising boutique hotel, so the CEO and general managers of the company are not from

Turkey. The Four Seasons Sultanahmet culture is personified by its employees who share the

GENERALMANAGER

F&B EXECUTIVE

FRONT OFFICE MANAGER

SALES EXECUTIVE

BANQUET SALESEXECUTIVE

HOUSEKEEPING

EXECUTIVETECHNICAL SERVICE

EXECUTIVE

SECURITY EXECUTIVE

HUMAN RESOURCESEXECUTIVE

IT SUPERVISOR

ACCOUNTING MANAGER


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common goal of offering excellent service to customers. From the time Four Seasons opened

its first hotel, its work culture was based on trust and mutual respect and it allowed employees

to flourish and succeed.

HUMAN RESOURCES

The company strives to be a home away from home for its employees. This is a company that

respects diversity in its workforce and encourages candidates from a variety of backgrounds to

apply for available positions. Four Seasons Hotels and Resorts are committed to offering

training to employees at alllevels, to help all staff reach their potential with the company. With

a culture built on mutual respect, a growing world of opportunities and an environment that

supports the personal drive for excellence, a Four Seasons career can be exceptionally

rewarding.

Employees benefit from annual party and sporting events, life insurance and medicalinsurance,

paid holidays, incentive bonus, paid holidays and employee service awards. The company has

training, career growth opportunities and educational assistance for its valued employees in

order to achieve their values with well- educated ad well- qualified employees. There is an

open door policy in the company and employees feel confident toward any problem in the

workplace. Orientation program is effectively done by the company and there is a cross

training that provides employee to see in a broader perspective. These all opportunities are

enough to motivate the employees. On the other hand, employee turnover rate is low because

ofthe duration of work experience in Four Seasons Hotels among the chain.

FINANCE

According to their websites, there is no any information about the balance sheet or financial

situation. However, Four Seasons Sultanahmet is a well- known accommodated hotel among


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the visitors thanks to its worldwide brand, Four Seasons. The hotel generates revenues with

low investment and managerial costs. If the hotel had a separate balance sheet, this balance

sheet could probably be strong. In addition to this, thanks to its high rates, high quality service

and the valued guests with the high level ofincome, the hotel has a financial capacity to cover

its working capital and operational expenses.

MARKETING MIX

1-PRODUCT

The core product ofthe hotel is the accommodation and therefore, the rooms. Naturally, only

this is not it offers. Supplementary products are the features what makes Four Seasons

Sultanahmet hotel as unique. The Hotels historic architecture creates a variety of unique

rooms and suites, all nestled around a beautifully landscaped courtyard. Standard room features

include a refrigerated private bar, a large plasma television, an MP3 player docking station, and

a DVD and CD player. Rooms are equipped for wired or wireless Internet access. The lavish

marble bathroom includes a deep soaking tub and separate shower, a small LCD television and

a separate WC. Moreover, the company has SPA services. Exclusively for Four

Seasons guests, a variety of revitalizing massage treatments and Istanbul's highest level of

personalized attention are available in the Health Club. Separate men's and women's saunas in

the luxurious locker rooms enhance the sense of relaxation.

2-PRICE

Four Seasons Hotel applies yield management as pricing policy. Thus, it tries to apply

maximum price a customer can pay for each segment. It also applies special promotions

peculiarto special occasions such as Valentines Day, Holiday Season or weekend promotional

packages. Therefore it is not possible to define a standard price. In addition, the hotel has 8


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different room categories, therefore price range for a room depends on the category in each

season in the year (summer/winter). As a general trend; it shifts between 200 - 7,000. The

rates are higher than the competitors since it has one of the recognized brand names in the

world.

3-PLACE

Distribution channels are mainly Internet (Four Seasons hotels official website), computerized

systems like CRS & GDS, and advertising channels through media (i.e. magazines), PR

activities, and barter agreements.

By the year 2011, variety of distribution channels used is increasing. Direct marketing is used

more frequently, which will work as sending messages directly to customers. Moreover, direct

response advertising is also planning to be used often.

4-PROMOTION

Promotion of product is provided through internet, sky magazines, and media through

brochures. Some travel agencies have also promotional agreements with Four Seasons

Sultanahmet. In addition, Facebook and Twitter are used even more effectively as the world

runs towards the technological age. Taking that up a notch, they could also introduce loyalty

card that could be tied into both their Facebook app and their mobile app(s). Pre-book your

stay either via Facebook or youriPhone, and you immediately get points added to your loyalty

card to use at the resort. By the following years, more internet channels and PR activities are

going to be used often for promotion purposes.

5-PEOPLE

Many services depend on direct, personal interaction between customers and employees. The

nature of the hosbitality service influences the customers perceptions of service quality.

Customers judge the quality of the service they receive largely on their assessment of the


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people providing the service. Four Seasons Sultanahmet devotes segnificant effort to

recruiting, training and motivating their personel, so happy employees make the customers

happy.

The residents of customers are more based on guests from America. Cultural diversity is

something desirable for Four Seasons Sultanahmet Hotel. Globalism brings diverse customers

(and workforce) naturally. There are currently 100 employees are working on full-time and part

time basis. The number ofthe employees enough to serve and provide the service expected.

6-PROCESS

Four Seasons Sultanahmet provides high level of contact and people-processing services by

nature. The process is efficient enough to have effective service delivery.

7-PHYSICALEVIDENCE

The hotel was created from a century-old neoclassic Turkish prison in the core of this fabled

city steps from the Blue Mosque and Topkapi Palace. Just 65 guest rooms and suites frame

an open courtyard, for an atmosphere of personal attention and ease unprecedented in Istanbul.

It has a garden full of colorful flowers and a sweet yellow building.

8-PRODUCTIVITY AND QUALITY

The high quality is one of the most important values for the company. The quality of the

service creates productivity. In order not to let go of quality for productivity, technology is

used as a supporting factor. Communication with customers by internet and phone are being

technologically improved to keep quality high.

Four Seasons constantly endeavours to maintain and improve the quality of its services. The

company has been a major innovatorin the hospitality industry, developing services to make

business travel more productive and efficient, and leisure travel stress-free and more

enjoyable.The customer loyalty volume increases and they differentiate themselves easily.


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Undoubtedly, strength of brand brings Four Seasons Sultanahmet lots of strengths which are

confidence, prestige and quality. . All of these terms are important for the sustainability of

customers. Publicity is important marketing channel for Four Seasons Sultanahmet. Market

share is great among its competitors because of being part of a big hotel chain.

INTERNALEVALUATION MATRIX

Key Internal Factors Weig t Rating

Weig ted

Scores

Streng ts

1 high employee motivation 0,08 4 0,32

2 having marketing mix 0,06 4 0,24

3 low employee turnover 0,1 4 0,4

4 high- quality service 0,09 4 0,36

5brand image"Four Seasons" 0,13 4 0,52

6 adequate mission and vision statements 0,13 3 0,39

7 good financial position 0,11 4 0,44

8 adequate technological equipments 0,07 3 0,21

9 adequate market share 0,04 3 0,12

Weaknesses

1 Being managed by Four Seasons Bosphorus 0,1 1 0,1

2 away from off site recreation facilities 0,05 1 0,05

3 limited rooms 0,04 2 0,08

1 3,23

Table 3: Internal Evaluation Matrix

The brand image of Four Seasons Hotels from the perception of the visitors and effective

organizational values and culture are strong strenghts when we considerit with the companys

ompetitors. On the other hand, the location of Four Seasons Sultanahmet Hotel, The Old City,

is away from the city center. The distance has a significant role in choosing the hotel. In

addition, the headquartes from Four Seasons Bosphorus sometimes live difficulties in

controlling the specific one, Four Seasons Sultanahmet and this creates anotherimportantissue

to cover up.


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MANAGEMENT INFORMATION SYSTEMS

Technology in Four Seasons Sultan Ahmet is not unique. As in all boutique hotels, they are

providing all news cable network, CD clock radio, CD player, DVD player, fax machine on

request, hair dryer, hypo-allergenic pillows on request, Multi-line telephone(s) with voicemail,

refrigerated private bar, thick terry bathrobes, wired or wireless internet access, projection

devices as technological inventories. Since, Four Seasons Sultan Ahmet is a franchised-

Boutique Hotel, systems are automated; they are using Opera program. All the systems they

are using currently updated from both Canada and Switzerland. On each Four Seasons property

they are currently having Four Seasons RSS (Really Simple Syndication) systems that feeds

to get updates on new properties, packages and specialinterests delivered directly to customers

personal desktop.

OPERATIONS

Rooms are mainly sold through travel agents including wholesalers and tour operators. Other

marketing includes activities and techniques include Web sites, seminars and videos, direct

response marketing and international sales channels from the head office. It cannot be told that

Seasons Sultan Ahmet has its own development strategy because almost every decision are

taken in headquarters.

Four Seasons Brand operates international hotels and boutique hotel, and luxury resorts in

Turkey, 36 different states in Usa, 13 different countries in Europe, 22 different cities in

Asia/Pasific region and also 13 different cities in Middle East/Africa Region in business and

leisure sector. To mention the market, tourism industry is a labor intensive industry and labor

costs are quite high. Thats why, hotels should compensate it by cutting the other costs, such

as food costs but since itis a boutique hotel, there is no case like that. Underthe Four Seasons

brand, Four Season Sultan Ahmetis focusing on quality service. However, the new customers


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are attracted and economies of scale can be still achieved in time. Customization is important

for the satisfaction the guests in boutique hotels. Four Seasons Sultan Ahmet has a limited

number of accommodation facility but still can serve up to 275 people in terms meetings.

IDENTIFICATION OF PROBLEM

Differentiation issue mignt be a problem in the near future now it seems like not an urgent

problem but still, Four Seasons Sultan Ahmet needs to pay attention. In luxury segment, the

only possible way of differentiation is service quality. Main competitors Best Western

Acropol, W Hotel and Les Ottamans are also providing similar amenities. For a customer, after

visiting a Four Seasons property, the desire to experience anotherluxury hotelin the same city

will be undeniable and this will make downturn in Four Seasons Sultan Ahmets loyal

customer. So, it needs to distinguish itselfto keep its customers and gain new ones.

In order to deal with the differentiation issue, some strengths of the company have become

more important such as brand name, employee motivation, high-quality service, good financial

position and so on.

The main threats of Four Seasons Sultanahmet are competition, instability of politics and

economic crisis. From the perspective of competition, W Hotelis a well-known chain hotel and

Best Western Acropol is a small hotel. All ofthem are providing luxury service in a similar

way and thats why competition is high. Another threat is instability of politics among the

countries has an effect in potential customers decision making process. Economic crisis are

also important factors in hospitality industry. Economic situation of countries will affect the

number of visitors.


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KEY OPPORTUNITIES

The main opportunities are continuous growth in hospitality industry, discretionary income has

been increasing and people have more time than before to travel. Seconly, Istanbuls potential

as growing boutique hotel conceptis a leading opportunity for Four Seasons Sultan Ahmet.

POSSIBLE STRATEGIES

A TOWS MATRIX for Four Seasons Sultan Ahmet

Strenghts Weaknesses

1 High employee motivation 1 Limited rooms

2 Having marketing mix 2 Being managed by Four

SWOT MATRIX 3 Low employee turnover Seasons Bosphorus

4 Good financial position 3 Away from off site

5 High-quality service recreation facilit ies

6 Strenght of brand name

7 Adequate market share

Opportunities SO Strategies WO Strategies

1 The continuous growth trend in 1 Give monthly training to employees 1 Reduce international marketing

hospitality Industry test their interpersonal activities (W1, O2)- differentiation

2 International business communication skills (S4,O2)- differentiation 2 Focus more on Yield Management

3 Growth in F&B 2 Increase the variety of F&B (W3,O1)- differentiation

4 %8 in VAT products (S7,O3)- product development

5 Istanbul as a leading city in 3 Increase marketing

hotel business activities (S5,O1)- differentiation

Threats ST Strategies WT Strategies

1 Competition 1 Invest in updated 1 Build off site recreation

2 Economic crisis in 2010 technology (S4,T4)- product development facility (W1, T1)- product development

3 Instability in Politics 2 Increase number of

4 Changes in Consumer behavior rooms (W1,T1)-


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Increase marketing acti ities

t increases the number of guests

t increases the brand value

_ marketing costs are high.

_as the product offered in the industry is same, reaching the right target is

difficult.

Gi e monthly training to employees and test their interpersonal

communication skills

t having higher qualified employees

tincrease in customer satisfaction

tincrease in service quality

_ difficultto make employees attend trainings

_training costs

_requires feedback and control mechanism,

Increase the variety of F&B products and offer catering service

tincrease in guest satisfaction

tincrease in revenue

_ difficultto find qualified chefs

_high cost

_ managing different productlines are difficult

Invest in updated technology

+ opportunity to follow new trends

-high cost


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A SPACE MATRIX for Four Seasons Sultan Ahmet

Financial Strength

Low employee turnover 5.0

F&B divisions profitability 4.0

9.0

Industry Strength

Growth trend in hospitality industry 2.0

Profit potential 1.0

Growth in F&B 4.0

7.0

Environmental Stability

Technological advances -5.0

Competitive pressure -4.0

Effects of economic crisis on the range of competing services -3.0

-12.0

Competitive Advantage

Customerloyalty -2.0

Service quality in F&B facilities -1.0

Strong brand name -1.0

-4.0

ES Average is -123= - 4 IS Average is +73=2.33

CA Average is -43= -1.33 FS Average is +92=4.5

Directional VectorCoordinates:x-axis : -1.33+(+2.33)= +1.00

y-axis: -4+(+4.5)= +0.5

Four Seasons Sultan Ahmet should pursue Aggressive Strategies.


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RECOMMENDATION

We strongly recommend Four Seasons Sultanahmet to pursue product development and

differentiation strategies. Although because of the limited resources, it would be difficult to

implement both strategies together, in terms of projects that will planned to apply, two

strategies are applicable. When it comes to prioritize them, product development comes first.

Since itis in the luxury-boutique segment, competitors also go for differentiation in many very

ways so, product development would be more effective.

IMPLEMENTATION

What we recommend for Four Seasons Sultanahmet is product development including an

expand the variety of F&B products that are currently offered, investin updated technological

products, increase number of rooms, and build off site recreation facilities in order to attract

more customers and extend the duration of the stay. Four Seasons brand has an international

budget for innovations in each location all around the world. Four Seasons Sultanahmet will

use its portion from this international budgetin orderto finance this innovation.

Organic garden project in its existing garden pursued as an interesting recreation facility to

attract its customers and make them stay more in the property in order to grow and plant by

their own. This garden aims to make customers come regularly.

To do expansion in the variety of F&B products, under the employee rotation program, a

qualified chef will be transferred from Italy to Four Seasons Sultanahmetin orderto expand its

existing international cuisine.

In order to apply differentiation, investing in updated technological products, hotel will be

installed ipod docks and for furthertechnology opportunity, a new game room will be created

with the high tech three dimensional TV and PSP3 players.


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SOURCES

y http://www.fourseasons.com/ (Access on 03/21/2011)y http://www.fourseasons.com/istanbul/ (Access on 03/23/2011)y http://www.hotelmarketing.com/index.php/content/article/future_trends_in_hotel_e_bu

siness/ (Access on 04/01/2011)

y http://investing.businessweek.com/businessweek/research/stocks/private/snapshot.asp?privcapId=37401446 (Access on 04/01/2011)

y http://www.accessmylibrary.com/article-1G1-8183574/quality-all-seasons-quality.html(Access on 04/01/2011)

y http://jobs.fourseasons.com/workingatfourseasons/benefits/Pages/Benefits.aspx (Accesson 04/01/2011)

y http://www.jobmonkey.com/resorts/html/four_seasons_jobs.html (Access on04/01/2011)

y http://www.fourseasons.com/istanbul/guest_rooms_and_suites/ (Access on04/01/2011)

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TRM 472.01 BUSINESS STRATEGY PROJECT

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