I’m stuck on a Business question and need an explanation.
Write a research paper about the Waldorf Astoria Hotel in Los Cabos. Waldorf is owned by the Hilton Group, so first talk about the Hilton group then about the Waldorf hotel in Los Cabos, Mexico.
I have researched some info on Hilton group, but nothing on Waldorf hotel in Los Cabos, it needs to have the information of both
This is the info I have researched about Hilton:
Hilton Hotel Company
The Hilton Hotel; background
-Hilton Hotel and Resort was founded by Conrad Hilton in 1919
-Hilton Hotel was the first property bought by Hilton in Cisco, Texas.
-The first hotel to bear the Hilton name was Dallas Hilton in 1925
-Hilton Hotels became the first coast-to-coast hotel chain in the US in 1943
-There are 4,112 Hilton Branded Hotels across the world in 91 countries across 6 continents
-Hilton Hotels are either owned by, managed by,or franchised to independent operators by Hilton Worldwide
-LUXURY: Conrad Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Curio -A collection by Hilton
-FULL SERVICE: Hilton Hotels & Resorts, Double Tree by Hilton, Embassy Suites
-SELECT SERVICE: Hilton garden Inn, Hampton Inn, Hampton Inn & Suites
– EXTENDED STAY SUITES: Homewood Suites by Hilton, Home2Suites by Hilton
TIMESHARE: Hilton Grand Vacations
Hilton Hhonors reward program
-Loyalty program where guest accumulate points by staying at Hilton Brands
-Largest Reward program with over 30 million members
– Partnered with major airlines for guests to accumilate both points for free hotel nights and miles for free flight
Member: Obtainied upon enrollment
Silver:Obtained after 4 stays or 10 nights
Gold: Obtained after 40 stays, or 75,000 points
Diamond: Obtained after 30 stays, 60 nights, or 120,000 points
Hilton and their marketing strategies
-“Stay Hilton, Go Everywhere” a marketing message that states a large global brand
-Hilton Operates hotels and other related services in acocommodation, gambling, and other entertainment areas
-Revenue gained from hotel rooms, restaurants, bars, smaller shops, spa, laundry service,travel desk,buinsness center and banquet halls
Hilton’s Target Market
- Geographic Segmentation: Mainly focuses on the local preferences and the location
-Demographic Segmentation: Represents senior and middle aged professionals with high level of income belonging to upper social class who pursue luxury lifestyle
-Psychographic Segmentation: Targeting ambitious individuals who would like to express their perceived high status and achievements by staying at 5 star rooms for premium price
-Benefits Segmentations: Perceived or real benefits offered by Hilton to potential and existing customers include sense of achievement, a high status in society and luxury
Hiltons Target Market Cont.
-Hiltons Hotel Corporation is one of the leading hotel and leisure companies in the world. It is Primarily involved in the managment and development of hotels across the globe.
-Hilton has recently changed its growth stategy, and it now focuses on spreading its operations through franchises.
-Hilton tagret upscale buisness travlers, the impact of increasing airfares will not be too significant for Hilton.
-Hitlon needs to apply hotel revenue management to its market segmentation
-Pricing is also important in strategy when selling your product in order to attract customers. They have to make sure that they stay in the margin close to their competitors.
Future Marketing Methods
An example could be complemntary Meal&Wine
Things we are missing :
-promotions (some is written)
-modifing and implementing
-talk about waldorf astoria in cabos