Ritz Carlton Case Group C-2 Arthur Ferrandez Georg Zollinger Joan Alba Joy D’souza Lisa Wesner Timothee Hochet Q1: What is Ritz Carlton really selling? • First of all‚ it is crucial to have clearly in mind the difference between the two companies involved in the case‚ Millennium Partners and the Ritz-Carlton company; • Millennium Partners: a real estate development group focusing on luxury flats in major US cities‚ which diversified its portfolio by investing in the hotel business. • Ritz-Carlton:
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is a conflicting business strategy between Ritz-Carlton and Millennium Partners. Failure to resolve the issue could prematurely end the partnership. PEST ANALYSIS (ADAPTATION) ECONOMIC POLITICAL • Stable Economy • Stable Political Scene • Upcoming Election • Tourism Industry • Unemployment Rate • DOW SOCIAL • Political Events • Leisure/Travel TECHNOLOGY • Y2K • Internet Dotcom boom • Moore’s Law PORTER’S 5 FORCES ANALYSIS Threat of entry Very High Cost Name
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RITZ CARLTON Ritz Carlton has adopted a focus strategy to differentiate by offering high end services to an elite customer base. This allows the company to charge a premium for its services and provides greater brand recognition. Ritz Carlton’s operations strategy is to proactively manage the quality of its services through TQM with a view toward achieving a high level of service excellence. The operations strategy supports the business strategy by proactively reducing service related problems
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articleid=12186 http://www.businessweek.com/smallbiz/content/feb2007/sb20070213_171606.htm http://www.answers.com/Ritz+carlton+hotel?cat=biz-fin 1-What was the total capital budget at the Ritz Carlton Hotel? Capital Budget: Long-term financing and expenditure plan for acquisition‚ construction‚ or improvement of fixed assets such as land and buildings The total capital budget of Ritz Carlton Washington D.C. was $225 million. this hospitality complex covered tow- and a half acres and include 162 luxury
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The Ritz-Carlton Success The Ritz Carlton Is a hotel chain that almost everyone is familiar with. The Ritz-Carlton has a lot of brand name qualities to it and has enjoyed a lot of success due in part to the image that the name carries. You can know that if you stay in a Ritz hotel anywhere in the world you can be confident that you are staying in a high-quality hotel with great service. There is currently a term that is attributed to Ritz-Carlton. When something is referred to as “ritzy” it’s
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The Ritz-Carlton – Specializing in Customers is exactly what is. This is what the Ritz is all about and they have the awards to prove it. Since technology has taken over the world within the last decade‚ businesses have heavily relied on the technology to help support their everyday processes‚ and our personal lives has came accustomed to it‚ also. The Ritz-Carlton utilizes technology‚ but they are refusing to follow suit of other hotel chains. A lot of other hotel chains are switching or experimenting
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The Ritz-Carlton is owned by Marriot International‚ the Marriot Hotel chain was founded by J. Willard M in 1929. The company began as a Root Beer stand in Washington‚ D.C. soon‚ soon after starting the Root Beer Stands Marriot started a chain of restaurants and hotels. J.W. (Bill) Marriot‚ Willard’s son‚ is currently to CEO‚ he has expanded the company worldwide. Bill Marriot formulated a strategic plan and vision that focuses on customers and employees had contributed to their global success.” As
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The Ritz-Carlton Case The Ritz-Carlton hotel company is a leading hotel management company operating 38 hotels and resorts all over the world. There will be a new hotel opening as part of a multi-use facility owned by Millennium Partners. When James McBride‚ the general manager of the new Ritz-Carlton Hotel‚ is responsible for opening the new hotel‚ he faced a challenge. There are some doubts with the “Seven Day Countdown”‚ a training method to the new employees. Brian Collins‚ manager of hotels
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In 1983‚ President and COO‚ Horst Schulze‚ decided upon a strategy to manage the Ritz Carlton in order to compete on quality. The strategy affected the entire organization‚ with significant differences in: · Defining traits of all company products defined in the company Credo · Translating the Credo into basic standards to clarify the responsibilities for employees · Personally train employees the new Ritz-Carlton Credo and basic standards (the Gold Standards) · Aggressively instilling a passion
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The Ritz-Carlton Hotel Company‚ L.L.C. is the parent company to the luxury hotel chain‚ The Ritz-Carlton Hotels. Ritz-Carltonoperates 84 luxury hotels and resorts in major cities and resorts in 26 countries worldwide.[2] The current company was founded in 1983‚ when the brand was bought from the previous owners to start The Ritz-Carlton Hotel Company‚ L.L.C.‚ based in Atlanta‚ Georgia‚ which began expansion of the brand to other locations. The hotel company is today a subsidiary of Marriott International
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