International Marketing - Marketing Plan for Setting Up Business in Foreign Countries

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MARKETING PLAN FOR ITC HOTELS – INTERNATIONAL MARKETING

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ITC Hotels going global: Marketing plan for international marketing

Submitted by:

Aron Aseer Freni Thivya Remi – P10021 Madhava Prasad – P10039 K. Sivakumar – P10064 R. Veera Dhandapani – P10069

Under the guidance of

Prof. R. B. Easwaran

Loyola Institute of Business Administration, Loyola College, Chennai - 600 034, India.

MARKETING PLAN FOR ITC HOTELS – INTERNATIONAL MARKETING

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Executive Summary: Launched on October 18, 1975, ITC Hotels, India's premier chain of luxury hotels, as a brand has become synonymous with Indian hospitality. With over 90 hotels in 67 destinations throughout India, ITC Hotels has set new standards of excellence in the hotel industry in Accommodation, Cuisine, Environment and Guest Safety. A leader in the premium hospitality segment, ITC Hotels have had the privilege of hosting world leaders, Heads of State and discerning guests from across the world and within. This is a core competitive advantage for ITC going global. Growth under Four Brands: Acknowledged as one of the finest in Indian hospitality, ITC Hotels are classified under four distinct brands. ITC Hotels - Luxury Collection are a super deluxe and premium hotels located at strategic business and leisure locations. Welcom Hotel & Sheraton Two of their Hotels have been aligned under the renowned Sheraton brand, offering warm, comforting services to the global traveler. Three Welcom Hotels are designed to cater to the discerning business and leisure traveler offering five-star hospitality. Fortune Hotels offer full service properties all over India, including smaller towns and cities, ideal for the budget traveler. WelcomHeritage brings together a chain of palaces, forts, havelis and resorts that offer a unique experience. WelcomHeritage endeavors to preserve ancient royal homes and the historical Indian grandeur and opulence for the future Indian generations. Objective: Present study analyzing the opportunities of ITC hotels- Luxury Collection under ITC-Grand brand entry in to Singapore. This marketing plan is developed for the ITC Grand hotel to enter in South East Asian market. The target market is the luxury traveler. Objective of this research project is to find out the best place to set up luxury hotels based on a variety filters & constraints. Also, it’s specifically designed to provide a suitable marketing plan to ITC Hotel Industries. Business Mission: The mission of ITC Grand is to operate Luxury hotel that provide exceptional quality to the luxury traveler.

MARKETING PLAN FOR ITC HOTELS – INTERNATIONAL MARKETING

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4 Filter Model: Filter I: Set up of new hotels in a new market requires a significant consideration of factors including the ease of doing business, land acquisition, Governmental factors, economic growth, local laws, tax factors, registering property, protecting investors, Governmental expenditure on tourism development, occupancy rate, advanced technology etc.,. Therefore management may decide only to consider countries having a minimum 3% contribution to tourism in total GDP, thus excluding SRILANKA as a possible place for setting up business from the existing options. List of preferred places Singapore Hong Kong SAR, China Malaysia Taiwan Thailand Mauritius Srilanka China Indonesia Philippines Contribution from tourism for GDP in %age 3 4.4 7.4 4.6 6.5 7 1 5.2 3.24 5.9

Management may also decide to consider Country average more than 50 for overall factors as provided in the below table: Ease of Doing Business Rank 1 2 12 16 18 19 81 91 128 138 Starting a Business 4 6 54 16 85 14 33 151 166 161 Dealing with Construction Permits 2 1 96 9 16 62 112 181 75 100 12 9 15 17 Political stability (Ranking) 1 3 8 5 11

Economy Singapore Hong Kong SAR, China Malaysia Taiwan, China Thailand Mauritius Sri Lanka China Indonesia Philippines

Getting Electricity 5 4 28 6 10 44 103 114 147 57

Registering Property 36 60 33 32 26...
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