Singapore’s tourism board has optimistic expectations of high volume of tourist arrivals, with 15 million visitors to Singapore on average per year (Hotel Industry Background, 2010). A calculation made on the projected number of hotel beds in year 2000 showed that the country could accommodate up to 16 million visitors. Singapore has been a priority location for hotel conglomerates to set up headquarters to develop new products and concepts for Asian markets.The nation is well-equipped to assist expansion and grooming Hospitality and Tourism talents for the region. Hotel guests have raised expectations by looking for holistic experiences. Hospitality companies use Singapore as a training ground to develop innovative ideas and, hospitality concepts and services to meet the needs of customer expectations (Singstats 2011).
The growth of 18% estimated for the year 2011 is appropriate, up from a previous estimation of 16% growth. This would increase total visitor arrival numbers to 11.45m for the year (Euromonitor 2011). The continued efforts to market Singapore as a location for MICE tourism will also benefit the performance of travel accommodation in the forecast period. The rising affluence of consumers will increase their willingness to spend on luxury hotels. (Euromonitor 2010)
2.0Corporate and SBU Background
Over the last 20 years, HPL has taken a great leap in the hotel industry, owning 21 hotels in eight different countries. Established in 1991, the organization operates 11 hotels and resorts across the region, offering a total of 3,028 rooms. In Singapore, HPL has three hotels which are Concorde Hotel, Hilton Hotel and Four Seasons Hotel.HPL was incorporated on 28 January 1980 as a private limited company, as Hotel Properties Pte Ltd. By 4th May 1982, the company was converted into a public company and took on the name Hotel Properties Limited ever since. The company’s principle activities incorporate resort and hotel management, properties developments and investments, and retail businesses.
2.1.1.Business Operation and Interest
Hotels under HPL Limited include Concorde Hotel, Hilton Hotel and Four Seasons Hotel (FSH). The organization is dedicated to providing superior accommodation and services to their guests (HPL Hotels n.d). The organisation’s hotels are strategically located in Orchard Road shopping belt.
HPL has gained a name for building superior residential properties. Over the years, HPL has established itself as a niche property developer in prime residential properties in Singapore and the Asia Pacific region. Some of its outstanding projects include Cuscaden Residences, Four Seasons Park, Nassim Jade, Robertson Blue and Scotts 28 (HPL Hotels and Resorts 2011). Furthermore, its commercial buildings consist of Forum The Shopping Mall, shop units at Concorde Hotel and shopping mall, and shop units at Ming Arcade (HPL Properties n.d).
Additionally, HPL is also established in the lifestyle sector, with Hard Rock Cafe Singapore and Haagen-Dazs Singapore under its belt (HPL Hotels and Resorts 2011). The organization focuses on encompassing the ultimate lifestyle experience for its stakeholders and this is what propels the former forward in creating the best to its ability for the latter.
2.1.2. Corporate Social Responsibility
The world watched in horror as reports of earthquake and tsunami in Japan on 11th March 2011 travelled across the globe. FSH and its Worldwide Sales Office in Tokyo, as well as countless Japanese colleagues and loyal guests, are affected by this catastrophe as it hits especially close to home. In response, HPL launched a disaster relief fund with its employees and donations had been pouring in from hotels and resorts around the world. Guests also participated in HPL’s relief efforts by purchasing specially designed Japan Relief T-shirts available at its properties in America. All proceeds...