Raffles Hotel

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A marketing plan on Raffles Hotel1
1.Introduction1
2.Brief company overview2
3.External audit2
3.1The macro-environment analysis with PESTE method2
3.2The industry dynamics analysis with Porter’s five forces3
3.3 The evaluation of key successful factors of external factor4
4.Internal audit5
4.1Raffles’ strategic segmentation5
4.2Raffles’ market positioning6
4.3Strengths-weaknesses analysis of current resources and competences7
4.4Value chain and value networks8
5.A strategic plan for the next 3 years9
5.1An evaluation of strategic options9
5.2The development of a sales target10
5.3A mix of suitable strategies and a monitoring, control and contingency plan10
Reference11

A marketing plan on Raffles Hotel
1. Introduction
Recent days witness a rapid growth of scale of the starred hotels in Singapore. Singapore hotel industry gives service to about 1.44 million visitors in 2012, which is 9% higher than the data in 2011.Although the growth rate is lower than the last two years’ 20 per cent and 13 per cent. Singapore can achieve the goal of 1.7 million visitors in 2015. This means from 2013 to 2015, the annual growth rate of visitors is 5 per cent to 6 per cent. The expansion of hotel industry also leads to a more fierce competition in the hotel industry. Singapore was ranked among the top three cities whose hotels have the highest Average Daily Rates (ADR), along with Hong Kong and Seoul, according to CBRE's Asia Hotels MarketView report for H1 2012. The boom of hotel industry also accelerates the competition of hotels in Singapore. On the one hand, the construction of domestic hotels is accelerated; on the other hand, the entries of other top International hotel brands will have a huge influence on the market share of the hotel industry. In Singapore, there are more than 313 hotels, ranging from express hotel and 5 star hotels. Orchard Hotel Singapore, Resorts World Sentosa - Equarius Hotel, Swissotel Merchant Court Hotel, the Regent Singapore and Four Seasons Hotel Singapore are all substantial hotel In Singapore. The fierce competition forces hotels to focus more on the marketing strategy in order to attract more customers. Raffles, one of the famous luxury hotels in Singapore, is considered as elite in Singapore’s hotel industry. In the new time, faced with the violently fierce competition, how to absorb successful marketing strategies, reform marketing strategies and draft a suitable marketing strategy for Raffles is of great significant. 2. Brief company overview

Raffles Hotel is one of the best hotels in Singapore (McClatchy - Tribune Business News ,2012). It was established in the colonial period when Singapore was occupied by the UK. So it has a colonial culture. Two American brothers, Martin and Tigran Sarkies, set it up in 1887. Later, three other brothers joined them. With their hard work, they construct the hotel in Singapore’s most bustling area. The hotel was named after Stamford Raffles, who was the father of Modern Singapore. In recent years, Raffles was controlled by Fairmont Raffles Hotel International (Simon, 2010). The motto in Raffles is: true luxury is not just about what you do, it’s about how you feel. In the following 125 years, Raffles pursuits to provide the best service, the lavish experiences and the warmest memories to their customers (Bernstein, 1999). And till now, the tradition is handed down from one generation to another all around the world. Not only in Singapore, but also in Dubai, Seychelles, Paris and Beijing, the name of Raffles equals with words such as honorable and extraordinary (Arabianbusiness, 2010). On October 1, 2005, Raffles hotels & Resorts embraced a new spring of its management life. With the acquisition by Colonial Capital, LLC, Raffles create a high profile-transaction. This transaction obtains the identification from top hospitality leaders, investors and financiers. With the...
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