Hotel Marketing Plan
1. Executive Summary s ervices are everywhere, whether it is travel to a tourism destination, a visit a doctor, a hotel service, a meal at our favourite restaurant, or a day at school. Services constitute over 50% of GDP in low income countries and as their economies continue to develop, the importance of services in the economy continues to grow. Especially the economy hotel sector is the fastest growing market in global travel. Hotel operations vary in size, function, and cost.
New World Hotel is one of the most impressive business hotel in HCM city, conveniently located in the city center and just seven kilometers from Tan Son Nhat international airport.
New World Hotel are five-star hotel that have established a reputation for excellence and are acknowledge for offering quality and value. The hotel features 533 luxury rooms and suites offering the perfect ambience for both work and relaxation. Our five-star hotel hosts 2 restaurants inviting you to enjoy Chinese cuisine or international high-class buffets. 2. Current Marketing Situation 2. 1.
Vietnam’s economy has grown spectacularly, expanding at an average rate of 7. 5% per annum over the past decade. In 2010, foreign investors registered capital of nearly US$18. 6 billion , in which the actual disbursed capital came to $11 billion. The World Bank recently ranked Vietnam at 78th in its “Doing Business Ranking 2011” project as of June 2010 . As a result of the rapid economic growth of Vietnam which is making Vietnam to be highly potential market for all the foreign investors, therefore as regards travelling in both domestic and international markets and the level of room business appears to be increasing rapidly.
Besides, there has been a period of high activity in the area of conferencing and business catering with local companies electing to conduct meetings and seminars on their own premises. Rise in group bookings, in coming visistors and day use of conference facilities is on the the increase. 2. 2. Market Needs New World Hotel is a five-star hotel comprising 533 luxuty rooms and suites, specialing in servicing business and corporate clients. Their key client are contracted corporate clients originating from both international and domestic markets.
New World Hotel is not only the ideal resting place for leisure visitors to this historic city. Business travelers are welcomed with extensive conference and exhibition facilities that include all the latest technological resources. As many as 533 guests can be accommodated in comfort and luxury, enjoying stylish and practical meeting rooms alongside the superior leisure facilities and fine dining that make New World one of the most sought-after hotels in HCM City . 2. 3. Market Trends Market trends can be categorized as follows: Corporate Travel and Local Business Trends •Corporate Travel
As a result of various issues, there has been a drop in corporate guests visiting the city.
In September 2012 alone, only 460,238 tourists visited Vietnam, a decrease of 13. 7 percent against August . Although the level of corporate room business appears to be increasing again, it has had a significant affect on last year’s result and consequent projections for the future. •Local Business Trends There has been a period of low activity in the area of conferencing and business catering with local companies. But nowadays many international corporations and company divisions select a hotel for their conference and meeting venue.
Therefore group bookings, incoming visitors and day use of conference facilities is on the increase. 2. 4. Market Growth Vietnam is one of the most popular tourist destinations in the Asia-Pacific region and its tourism industry has been growing unprecedentedly over the past few years. In 2009, despite the global recession, the travel and tourism industry is estimated to have contributed 13. 1% of the GDP to the Vietnamese economy .
Being a source as well as destination market, the Vietnamese tourism industry has grown nearly twice as fast as GDP in recent years.
In addition the government’s support has been the key driving force for this industry. According to new research report “Vietnam Tourism Industry Forecast to 2012”, tourism sector of Vietnam is projected to grow at double-digit growth rate in near future, owing to a rise in private sector investment. As the country attracts tourists from all over the world, majority of private players have started investing in the country’s hospitality sector. With several upcoming events in 2013, there will be an increased demand for rooms in the hospitality industry.
2. 5. Macroenvironment
The environmental issues that affect New World Hotel are: •Political: a positive environment that they can find in Vietnam as governance and political stability where little affects our ability to generate revenue. •Economics: It’s been a very difficult few years for the hospitality and tourism industry. The economic recession has caused businesses, individuals, and families to cut back on their spending on travel. Today, though, there are signs that people are starting to travel more and that the industry may be recovering.
The biggest change in the travel industry in recent years has been the rise of the Internet.
It used to be that you had to speak with your travel agent, or call hotels and airlines directly, to make your travel plans. But as Internet usage spread, it became possible to use the new technology to research destinations and compare prices yourself, or visit websites that provide all that information in one place. In 2011, more than 50 percent of lodging reservations were made online, and that number is sure to grow in coming years . •Social: Whatever the strategy, consumers are seeking to achieve the best value for money in each category and on every occasion, which is where our added value differentiation strategy comes into play. .
SWOT Analysis 3. 1. Strengths • Best Location: New World Hotel are positioned at prime locations in key city. Our business hotels are placed in close proximity to prime commercial and business hubs in the cities, and within comfortable distances from Airports and Railway stations. • Structure: The structure of New world Hotel is functional and offer good services, In the New world Hotel the guests can enjoy many services and equipments to obtain special comfort for its customers. Well equipped Business Center is available for business men in the New world Hotel.
Besides, the restaurants of New world Hotel permit the choice of Chinese and international menus. • Staff: specialized and experienced staff that are motivated and highly skilled. A well trained team who are pround of their hotel and respect and promote the values. • Reputation: New World Hospitality is an international hotel management company that operates an expanding collection of properties under three distinct brands, including the luxury Hotels and Resort, deluxe New World Hotel.
With properties currently located in North America, Europe, Asia, the Middle East and the Caribbean, New World Hotel has a strong reputation within the local market and corporate and travel trade markets for reliability, services and quality. 3.
2. Weaknesses • Staff: Seasonal turnover require ongoing training and orientation of new staff. In addition, New World Hotel has to spend a high employees’ turnover rate. •Facilities: certain rooms require renovation and upgrade as regards technical equipment to make guests feel more comfortable. 3.
3. Opportunities Market: The tourism and hotel sector is developing fast in Vietnam and the government’s support has been the key driving force for this industry. The government has been readily spending on the promotional activities across the world to boost the nation’s tourism industry. According to our new research report “Vietnam Tourism Industry Forecast to 2012”, international tourist arrivals in Vietnam will grow at a CAGR of over 11% during 2010-2014, and tourism receipts from overseas tourists are expected to rise at a CAGR of around 13% during the same period, thereby reaching around US$ 5. Billion by 2014 . Vietnamese tourism industry will continue to grow rapidly in coming years on the back of its favourable demographic profile and increasing promotional activities by the government.
•Suppliers: Long-term relationships established with suppliers •Guest Dependency: Repeat corporate business based on personal service and quality in a luxurious environment 3. 4. Threats •Market Entry: Many potential competitors, global brand enter the market with a similar product, indeed there are some 5 star hotels that offer excellent value for money.
Therefore, it is a great place for guests to treat themselves. •Economy: Recovery in the hospitality sector gathered speed with a 4% increase in the first half of 2012 but average prices remain at 2005 level so it’s may take time to recovery from recession. 4.
Objectives New World Hotel’s objectives are straightforward and seek to ensure we run a professional, profitable and ethical company, building relationships with customers, suppliers and driving business at the hotels’ and developing the business as a whole. We aim to: •Increase overall room revenue by 10% on the past year. Within each hotel operation, provide complete satisfaction to client in terms of facilities and service standards, food and beverage and related products, at a fair price. •Manage hotels by human resource policies which encourage and reward individual and unified effort and achievement, provide training and personal development opportunities and create a working environment in which staff can feel a real sense of job involve •Market the hotels through trusted agencies and direct marketing initiatives from the hotels, to high standards of ethics and taste. Adopt best commercial practice and ethical standards in dealing with client, suppliers of goods and services and other contacts. 5.
Marketing Strategies 5. 1. Mission New World Hotel marketing strategy’s objective is to direct the focus of our guests to the issues of quality and value for the money. The marketing strategy will allow us to develop close working relationships with their customers and suppliers and to identify the needs of their guests in an effective manner. Within this strategy are three main points aimed at different market segments. We will provide: •The Best Business facilities •Personalized Services •Luxurious Amenities