Hotel Chains and Marriott International
Week 6
Felix A.Tapia
University of Phoenix
Corporate Finance –Fin/571
December 9, 2013
Prof. Ismael Torres-Pizarro
In the following paper, I would like to focus on Ritz Carlton, Inc., a leading lodging company with over 3,100 lodging properties in the United States and 66 other countries and territories (Marriott International, Inc. Corporate Headquarters, 2008). My key task is to discuss market segmentation, targeting and positioning strategies of the company with the following brands: Marriott Hotels & Resorts and Courtyard by Marriott in the same marketplace, Asia-Pacific.
As the fast expansion in economy of Asia-Pacific, the hospitality industry has a bright perspective in this region. Especially in China, the hospitality industry during the past 30 years is a prime example of how the nation’s economy has also sharply developed.
In recent years many big hotel chains became aware that seizing the market in Asia-Pacific is pretty important for their development. Marriott International is one of them. Since 1989, Marriott International has grown from one property in Asia-Pacific to over eighty properties. Over the past 16 years, Marriott has expanded its resort portfolio to include 15 resorts across the region. And in China since 1989, Marriott has grown from one property in Hong Kong to 32 hotels throughout the country (Marriott International, Inc. Corporate Headquarters, 2008).
The hospitality industry today, customers don’t just need a place to stay and eat; people choose a hotel for more complex reasons like the location, hotel category and services provided. Given that the needs and wants became more and more unique, the target marketing for hotels became micromarketing. It is not only a local marketing for hotels to adjust in different location and cultural, but also an individual marketing for they provide tailored services to special guests and VIPs.
For segmenting the consumer markets, we have to involve the geographic
Felix A.Tapia
University of Phoenix
Corporate Finance –Fin/571
December 9, 2013
Prof. Ismael Torres-Pizarro
In the following paper, I would like to focus on Ritz Carlton, Inc., a leading lodging company with over 3,100 lodging properties in the United States and 66 other countries and territories (Marriott International, Inc. Corporate Headquarters, 2008). My key task is to discuss market segmentation, targeting and positioning strategies of the company with the following brands: Marriott Hotels & Resorts and Courtyard by Marriott in the same marketplace, Asia-Pacific.
As the fast expansion in economy of Asia-Pacific, the hospitality industry has a bright perspective in this region. Especially in China, the hospitality industry during the past 30 years is a prime example of how the nation’s economy has also sharply developed.
In recent years many big hotel chains became aware that seizing the market in Asia-Pacific is pretty important for their development. Marriott International is one of them. Since 1989, Marriott International has grown from one property in Asia-Pacific to over eighty properties. Over the past 16 years, Marriott has expanded its resort portfolio to include 15 resorts across the region. And in China since 1989, Marriott has grown from one property in Hong Kong to 32 hotels throughout the country (Marriott International, Inc. Corporate Headquarters, 2008).
The hospitality industry today, customers don’t just need a place to stay and eat; people choose a hotel for more complex reasons like the location, hotel category and services provided. Given that the needs and wants became more and more unique, the target marketing for hotels became micromarketing. It is not only a local marketing for hotels to adjust in different location and cultural, but also an individual marketing for they provide tailored services to special guests and VIPs.
For segmenting the consumer markets, we have to involve the geographic
References: Marriott International, Inc. (2008) Membership Benefits http://www.marriott.com/rewards/members-benefits.mi Marriott International, Inc. (2008) Marriott Hotels & Resorts. Internet http://www.marriott.com/marriott-hotels-resourts/travel.mi Marriott International, Inc (2008) Courtyard. Internet