Westin Hotels & Resorts are an upscale hotel chain owned by Starwood Hotels & Resorts Worldwide. Currently, Westin operates over 120 hotels in 24 countries. Westin Hotels and Resorts redefine efficient services with an un-compromising style that offers residents a truly unique experience. Starting its operations from the year 1930, Westin defines a luxurious and relentless pursuit of providing optimal services for its clients.
The Mission Statement of Westin Hotels & Resorts: “Westin Hotels & Resorts are dedicated to ensuring that you leave feeling better than when you arrived”
The Westin, Dhaka
The Westin Dhaka, a newly open five-star hotel in the Gulshan, Dhaka is equipped with all the modern amenities a five-star hotel is expected to offer its customers. The Westin Dhaka possesses a wonderful location - nearby the Zia International Airport which is only 8 kilometers from the hotel. Westin Hotels & Resorts are architecturally inspiring, thoughtfully designed and located in the world’s most exciting cities and sumptuous resort destinations.
Westin, Dhaka at a Glance
Opened in July 2007
235 Rooms Equipped with all the modern amenities.
Occupancy rate is almost 70%
Market share almost 25%
Room Revenues - 30% higher than that of its rivals.
Mission Statement of Westin Dhaka: “Relax, Revive, and Experience Renewal at the Westin Dhaka”
The Bangladeshi market is now in a situation where the market is opening up for International Investments. Like the telecom industry the five-star Hotels are also booming. Therefore Westin Dhaka has facing stiff competition from competitors waiting with huge investment programs. So, a major area regarding the market sustainability is always on the horizon.
An Overview of the Upscale Hotels Industry in Bangladesh The current market analysis reveals the following competitors to be primarily operating in the Upscale Hotel Industry of Bangladesh:
Pan Pacific Sonargaon
Radisson Water Garden
The Westin, Dhaka
The Dhaka Regency
The Western La Vinci Hotel
Swiss Park Hotel
Upcoming: Hilton, Intercontinental and Holiday Inn.
The following Segments of the Market have been intuitively deduced by the group – which are strategically targeted by Westin Dhaka: 1.Foreign Business Delegates [mainly working in the Garments and Telecom Industry] 2.Tourists & Travelers from around the world.
3.Foreigners visiting Bangladesh for Diplomatic and/or Organizational Purposes. 4.‘High Income’ individuals residing abroad.
5.Affluent local residents pursuing ‘quality lifestyle’ amenities (such as: sophisticated cuisines, state-of-the-art gymnasiums etc.) 6.Local corporate community seeking quality Meeting Venues & Banquet Services. In order to serve the segments with appropriate services and associated quality, Westin strives to live up to the expectations and goodwill of its global fame and Brand Value. Target Audience in general tend to perceive Westin with a positive frame of mind constituted by ‘superior service quality’ and uncompromising standards.
The Positioning Strategy of Westin can be summarized as one which involves differentiating on the basis of perceived quality and standards of the services provided associated with a premium pricing policy. Basically, the luxury Hotel is associated with a ‘High Costs – High Quality’ perception among the target audience. The standard services provided by Westin [described in earlier sections] are associated with high costs. Thus Premium Pricing Strategy is adopted which actually renders the Pricing Strategy to be labeled as a Penetration Pricing Strategy. The Distribution of the Services is ‘Exclusive’ since only a few Westin Hotels exist all around the globe. Thus, it can be inferred with relative ease that Unique and Superior products of Westin are priced highly and are...