logo

Opening of Taj Heritage Tower - Assignment

   

Added on  2020-10-05

93 Pages19000 Words321 Views
Dissertation

Table of ContentsTOPIC: Opening of ''Taj Heritage Tower'' - A new boutique hotel of 'Taj Hotels Chain' in Paris. ..............................................................................................................3INTRODUCTION...........................................................................................................................3Rationale.................................................................................................................................4Vision.....................................................................................................................................6Mission...................................................................................................................................6Design and Structure of Report..............................................................................................6Customer segmentation........................................................................................................11Marketing channel................................................................................................................12Revenue stream....................................................................................................................13Customer relationship...........................................................................................................13Key partners.....................................................................................................................14Key activities...................................................................................................................14Key resources ..................................................................................................................15Cost Structure..................................................................................................................16Relevant Models and Information Sources Used.................................................................18Assumptions.........................................................................................................................20Timescales for Achievement................................................................................................20BUSINESS CONCEPT.................................................................................................................21Product and services.............................................................................................................23Target Market.......................................................................................................................25Value Added.........................................................................................................................27Specific features...................................................................................................................28Who is involved....................................................................................................................29Windows of opportunity.......................................................................................................30FEASIBILITY RESEARCH.........................................................................................................30The Feasibility Plan..............................................................................................................31Primary and Secondary data needs.......................................................................................32Research Methodologies......................................................................................................34Market analysis of Hospitality sector of Paris......................................................................35

Product and service feasibility..............................................................................................37Market Feasibility.................................................................................................................41Industry Feasibility...............................................................................................................44Financial Feasibility.............................................................................................................46Set-up Capital.........................................................................................................46Organisational Analysis........................................................................................................52Business Model..............................................................................................................................52Core Strategy........................................................................................................................52Business Plan.................................................................................................................................54The Hotel Industry in France (Paris)....................................................................................54Project Planning and Development Stages...........................................................................57Structure of Room and Interior Design................................................................................58Marketing Plan.....................................................................................................................64Collaborative Marketing Strategies......................................................................................65Online marketing..................................................................................................................67Management Team...............................................................................................................70Operating Process and structure...........................................................................................74Set-up Capital.......................................................................................................................75Projected Profit and Loss.................................................................................................77Projected Cash Flow........................................................................................................83Critical Success Factors........................................................................................................85Exit Strategy.........................................................................................................................87Viability................................................................................................................................88REFERENCES..............................................................................................................................90

TOPIC: Opening of ''Taj Heritage Tower'' - A new boutique hotel of 'Taj Hotels Chain' in Paris. INTRODUCTIONThe following project is about the development of existing business of anorganisation to abroad. So, Taj Heritage Tower is expanding its existing businessin Paris. This is a Five Star Hotel situated in India. It provides various world classfacilities such as accommodation, food and other related services to theircustomers. So, this Hotel is going to open its business in Paris also (Bendell,2017). The Hotel is aiming to develop global presence of this Hotel and theirservices. It will undertake various activities in order to complete the process ofdevelopment of business to abroad. The Hotel has good customer base in Indiaand is aiming to capture the market share of Paris by providing customers with thebest satisfaction possible from the services. On the other hand, if it is talked in ageneral way then, it can be said that every single business organisation in presenttime is looking forward to expand its business for grabbing a good position withina market in a short span. This is basically done to improve the overall performancelevel (improvement within the profits and revenues) of a business company likeTaj Heritage Tower. Through this, Taj Heritage Tower can easily expand itsbusiness in a whole new country like Paris. In present context, Taj Heritage Towerwhose parental business group i.e. Taj Hotel groups has considered market of

Paris as one of a crucial opportunity, that could help them in gaining the reputationand improve the sustainability in much effective and efficient manner atinternational business market. Due to terrorist attack, that took place within Paris itaffected the travel and tourism, hospitality and economical factor of France, butthen when everything got affected negatively it reached to a no profit and no losssituation and then after some time, the market got raised. This could be consideredas one of a crucial reason why, Taj Hotel groups of India has decided to launch itsboutique cum hotel named as Taj Heritage Tower in Paris. This city is also beingcalled as City of Lights, and has been a great attraction for public in all over theworld due to its history and all the historic monuments and places that this city ishaving in all over the world. Along with this, it is also said that for a company likeTaj Hotel groups of India, it will be an opportunity to grab a good position withinthis market due to high number of visitors visits this place every year and thesenumbers are increasing day by day.RationaleLike every other business, Taj Heritage Tower also wants to expand itsbusiness to other countries. The main motive of the business is to earn profit and togrow and develop the business. However the current trends of business hadchanged and now aiming at earning profit with taking into consideration manyfactors such as environment, customers, society, etc. which helps in the successful

running of business (Hotel Front Office Sections. 2019). Increasing the customerbase is one of the most important reasons which are resulted in idea of expansionof the business abroad. It will provide many benefits to the business such asincrease in the revenues of the business, creating brand awareness of the servicesof the products etc. Further, it is also helpful as it will help the company in makingthe global presence of the services of the business available. Entering into newmarkets also reduces the potential risks of staying in only one market which cannotprove to be in favour of the company. So the development of market also aims ateliminating this factor. The expansion of the business will not only aim atincreasing the profits of the business but also will aim at providing the customerswith the best satisfaction that they can provide through their services. Anotherreason behind the expansion of business is that Taj Hotel Chain is consist withIndian culture which can be considered as an eye catching element in Francebecause it has been found that people of this country are fascinated with Indianattire and its culture. Therefore, opening Taj Heritage Tower has a good chance ofattaining or grabbing a strong position in specified time frame. Thus, so as toexplore and optimize the opportunities available to the company it has decided toexpand its business to new markets which is of Paris. Along with this, it can alsobe said that if Taj Hotel Group of India develops a hotel within the city of lights, itis may be possible that, this business group might gain many competitive

advantages not only in Paris but in India as well due to its presence within thecountry like France.VisionVision of Taj Heritage Tower is “To expand the business by opening TajHeritage Tower in Paris.”MissionMission of Taj hotel chains is “To become a Leader in the HospitalityIndustry by providing the best possible services to the potential customers.”Design and Structure of ReportThis following business project is divided into five sub sections which arediscussed as under:IntroductionIn first part of this business project, the introduction of project is included.This section provides brief introduction about the services provided by the Hotel.Further this section will also include information such as the vision, mission, of theorganisation, time scale and future assumptions related to the project.This isbasically being considered as one of a crucial stage for a business developmentplan as, it helps in performing the overall investigation of a market in mucheffective and efficient manner. Without this section, a business proposal cannot bedeveloped as it contains all the information that mainly helps in focusing on rest of

the sections of business development proposal. Along with this, it is essential for ascholar to develop this section (Introduction Part); with much more authenticity asthen only, it could help a scholar/researcher in pulling out favourable outcomesamong other sub sections in much effective and efficient manner. Through this,maximum benefits can be gained by the investigator in a short span.Description about the Business ConceptIn next section of this business project, discussion is made about the conceptof business on which it is going to work. The concept of following business is toexpand the business from India to Paris. This will include information about theservices provided by the Hotel, special features, value added factors and howpeople's involvement is made in that plan and the implementation of that businessplan. It is also said that an idea for a business majorly stays enclosed with a few ofbasic information and it could be anything from product/service, unique sellingproposition, target demographics and many more other relevant data, which couldhelp in expanding the business within a targeted market. On the other hand, it issaid that a business concept mainly consists with a whole new product or simply anovel approach to marketing or delivering an existing product (Bendell, 2017).Feasibility ResearchIn this section, information about the research methodology used by thecompany is provided with the help of which the feasibility of the business project

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Opening of Taj Heritage Tower - A new boutique hotel of Taj Hotels Chain in Paris
|30
|1317
|80

Business Plan Assignment - (Solution)
|70
|15870
|211

Business Plan for an Organic Cosmetic Business
|72
|15929
|134

Business Development Proposal for a Bubble Tea Shop in Malta
|104
|18399
|381

Business Development Plan for Calm and Relief Hotel in Malta
|45
|16015
|39

The Shades – Hair and Beauty Salon Business Plan
|56
|14153
|1574