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Overview of Luxury Hotel Transformation

Added on - 15 May 2020

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1LUXURY HOTEL TRANSFORMATIONCHAPTER ONE: INTRODUCTION1.1 OverviewLuxury hotels are the hotels wherein people can go and find luxury accommodation. Theprimary difference between the normal hotels and the luxury hotels are the kind of services,which the people get in the luxury hotels. Marriott International, Inc., is one of the mostreputed hotels of the world and is reputed for the quality of the service which it provides tothe customers ("Marriott International", 2018). The head-office of the hotel is located inMaryland and is the 117thlargest business organization of the world ("Forbes Welcome",2018). Some of the financial statistics of the company are-Figure 1: Financial Statistics of Marriott International Inc.Source: Factset, Bloomberg, S&P Cap IQ; Forbes.1.2 BackgroundThe business organization Marriott International Inc. recently started a collaboration withBulgari SpA, to launch a new brand of luxury hotels, Bvlgari Hotels & Resorts ("Overview",2018). The collaboration states that the designing of the new hotels will be done by Bulgari,
2LUXURY HOTEL TRANSFORMATIONwhich will give leverage to the Italian style of the Bulgari SpA and will provide thecustomers with the best kind of luxury services and Italian cuisines ("Marriott International",2018).1.3 Purpose of the studyThe basic purpose of this research is to study the process of successful luxury hoteltransformation. This particular research will focus on the collaboration between the MarriottInternational Inc. and Bulgari SpA to study the concept of successful luxury hoteltransformation. The collaboration between the Marriott International and Bulgari SpA isbased on the model of symbiosis, wherein both the entities involved will derive benefits fromthe association ("Marriott International", 2018). According to the deal, both the organizationswill be working together to identify prime locations for the setting of luxury hotels ("MarriottInternational", 2018). The collaboration states the establishment of seven hotels. Talkingabout the deal, J.M. Marriott, Jr., the chairman of the organization confessed that, “Ourrelationship with Bulgari creates fresh opportunities for Marriott International to growstrategically. We believe hotel investors will also find the brand appealing and will seek toadd it to their growth portfolio. Our Luxury Group will enable us to focus even more closelyon providing the most superb experiences in luxury travel” ("Marriott International", 2018).This collaboration is expected to provide fresh opportunities to both the global businessorganizations to expand and increase their annual revenue. Many people are of the opinionthat the deal is especially beneficial for the Bulgari Group and can lead to a lot developmentbecause of their association with the international hotel industry giants like MarriottInternational ("Marriott International", 2018). However, the collaboration can also be seen asan opportunity for the Marriott International Inc to further expand business in Bulgari andparticularly in Italy ("Marriott International", 2018).
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