Hyatt Hotels Marketing Strategies

The Hyatt Corporation was founded by Jay Pritzker in 1957. The first hotel purchased was located in Los Angeles, California. Hyatt is a management company that runs the operations of each hotel even though most of the Hyatt hotel properties are privately owned. They currently have two hundred sixteen hotels around the world and recently purchased one hundred forty three AmeriSuite hotels which were renovated and are being operated under their new name, Hyatt Place. Hyatt is known for specializing in luxury hotels that also provide meeting facilities and special services. The Hyatt Regency in Columbus Ohio was built in 1980. This hotel has six hundred and thirty one guest rooms, which makes it the largest hotel in the State, based on the number of rooms. The five service essentials that the Hyatt management company teaches to their employees are to greet every guest with a smile, use the guest's name at every opportunity, provide quick and efficient service, offer assistance and provide options, and thank the guest and invite them back (hyatt).
One of the most competitive industries today is hospitality. Hyatt marketers have to develop a marketing strategy that goes beyond the marketing strategies of their competitors to insure they have a unique advantage over the other companies. The first step in the development of their marketing strategy was the identification of the specific market segments they wanted to pursue. After establishing their target market segments, they conducted extensive research on the competing companies' marketing strategies and then evaluated them to make sure their product was above the competitions. It is very easy for a company to forget that their marketing strategy must be current; therefore part of their marketing plan includes the continual recycling of their research process and the evaluation of current data. From the research and the conclusions developed in analyzing the data, marketers determine the needs and wants