Dissertation: Opening Taj Heritage Tower Hotel in Paris, France

This dissertation outlines a comprehensive business plan for the expansion of Taj Heritage Tower, a luxury hotel chain, to Paris. It begins with an introduction detailing the rationale, vision, and mission of the project, emphasizing the strategic importance of entering the Parisian market. The report delves into the business concept, exploring product and service offerings, target markets, value propositions, and competitive advantages. A significant portion is dedicated to feasibility research, encompassing market analysis, product and service viability, and financial projections, including setup capital and projected profit and loss statements. The business model is meticulously examined using frameworks like the Business Model Canvas to identify key partners, activities, resources, and cost structures. Further sections cover marketing strategies, management team structure, operational processes, critical success factors, and exit strategies. The dissertation aims to provide a robust framework for the successful establishment and operation of Taj Heritage Tower in Paris, considering the unique challenges and opportunities within the hospitality sector.

Dissertation

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

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

TOPIC: Opening of ''Taj Heritage Tower'' - A new boutique hotel of
'Taj Hotels Chain' in Paris.
INTRODUCTION
The following project is about the development of existing business of an
organisation to abroad. So, Taj Heritage Tower is expanding its existing business
in Paris. This is a Five Star Hotel situated in India. It provides various world class
facilities such as accommodation, food and other related services to their
customers. 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 their
services. It will undertake various activities in order to complete the process of
development of business to abroad. The Hotel has good customer base in India
and is aiming to capture the market share of Paris by providing customers with the
best satisfaction possible from the services. On the other hand, if it is talked in a
general way then, it can be said that every single business organisation in present
time is looking forward to expand its business for grabbing a good position within
a market in a short span. This is basically done to improve the overall performance
level (improvement within the profits and revenues) of a business company like
Taj Heritage Tower. Through this, Taj Heritage Tower can easily expand its
business in a whole new country like Paris. In present context, Taj Heritage Tower
whose 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 reputation
and improve the sustainability in much effective and efficient manner at
international business market. Due to terrorist attack, that took place within Paris it
affected the travel and tourism, hospitality and economical factor of France, but
then when everything got affected negatively it reached to a no profit and no loss
situation and then after some time, the market got raised. This could be considered
as one of a crucial reason why, Taj Hotel groups of India has decided to launch its
boutique cum hotel named as Taj Heritage Tower in Paris. This city is also being
called as City of Lights, and has been a great attraction for public in all over the
world due to its history and all the historic monuments and places that this city is
having in all over the world. Along with this, it is also said that for a company like
Taj Hotel groups of India, it will be an opportunity to grab a good position within
this market due to high number of visitors visits this place every year and these
numbers are increasing day by day.
Rationale
Like every other business, Taj Heritage Tower also wants to expand its
business to other countries. The main motive of the business is to earn profit and to
grow and develop the business. However the current trends of business had
changed and now aiming at earning profit with taking into consideration many
factors such as environment, customers, society, etc. which helps in the successful

running of business (Hotel Front Office Sections. 2019). Increasing the customer
base is one of the most important reasons which are resulted in idea of expansion
of the business abroad. It will provide many benefits to the business such as
increase in the revenues of the business, creating brand awareness of the services
of the products etc. Further, it is also helpful as it will help the company in making
the global presence of the services of the business available. Entering into new
markets also reduces the potential risks of staying in only one market which cannot
prove to be in favour of the company. So the development of market also aims at
eliminating this factor. The expansion of the business will not only aim at
increasing the profits of the business but also will aim at providing the customers
with the best satisfaction that they can provide through their services. Another
reason behind the expansion of business is that Taj Hotel Chain is consist with
Indian culture which can be considered as an eye catching element in France
because it has been found that people of this country are fascinated with Indian
attire and its culture. Therefore, opening Taj Heritage Tower has a good chance of
attaining or grabbing a strong position in specified time frame. Thus, so as to
explore and optimize the opportunities available to the company it has decided to
expand its business to new markets which is of Paris. Along with this, it can also
be said that if Taj Hotel Group of India develops a hotel within the city of lights, it
is 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 the
country like France.
Vision
Vision of Taj Heritage Tower is “To expand the business by opening Taj
Heritage Tower in Paris.”
Mission
Mission of Taj hotel chains is “To become a Leader in the Hospitality
Industry by providing the best possible services to the potential customers.”
Design and Structure of Report
This following business project is divided into five sub sections which are
discussed as under:
Introduction
In 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 the
organisation, time scale and future assumptions related to the project. This is
basically being considered as one of a crucial stage for a business development
plan as, it helps in performing the overall investigation of a market in much
effective and efficient manner. Without this section, a business proposal cannot be
developed 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 a
scholar to develop this section (Introduction Part); with much more authenticity as
then only, it could help a scholar/researcher in pulling out favourable outcomes
among 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 Concept
In next section of this business project, discussion is made about the concept
of business on which it is going to work. The concept of following business is to
expand the business from India to Paris. This will include information about the
services provided by the Hotel, special features, value added factors and how
people's involvement is made in that plan and the implementation of that business
plan. It is also said that an idea for a business majorly stays enclosed with a few of
basic information and it could be anything from product/service, unique selling
proposition, target demographics and many more other relevant data, which could
help in expanding the business within a targeted market. On the other hand, it is
said that a business concept mainly consists with a whole new product or simply a
novel approach to marketing or delivering an existing product (Bendell, 2017).
Feasibility Research
In this section, information about the research methodology used by the
company is provided with the help of which the feasibility of the business project

can be assessed. The feasibility of the project which is related to the expansion of
the business is known such as about the profitability of the project that it will earn
sufficient profit for the business or not. The feasibility will also be defined in terms
of product, industry, organisation and market. This section will play the important
role, for current business proposal it can be said that this will directly help scholar
in pulling out favourable outcomes for the researcher.
The Business Model
In the following section, information will be provided about the use of
business models. It will also provide the description of every element included in
the project by using theoretical frameworks, strategies which will help Taj
Heritage Tower in gaining competitive advantage over their competitors. Further
the use of Business Canvas Model will also be done to know which outlines nine
segments which forms the building block for the business. Along with this, it is
said that a business model basically helps a scholar in developing a business plan
in much effective and efficient manner. With the help of this, Taj Heritage Tower
will directly improve its existence through working within the competitive
business market considering a range of unique strategies. Here, it can be said that a
business model could help Taj Heritage Tower in reaching to new heights in
specified time frame. Away with this, business can also include, detailed
information in regards to the finance and funding that could help in reaching to

new heights in specified time frame (Bendell, 2017). This directly aid Taj Heritage
Tower, in pulling out favourable outcomes and may lead to business success.
Idea Canvas
Key Partners
 Local
travel
agencie
s
 Online
travel
agencie
s
 Travel
Website
s
 Affiliat
ed
Restaur
Key Activities
 Room
Reservati
on
 Accomm
odating
customers
Value
proposition
 Located
in one of
the
attractive
places
 Lower
room
rate
 Focus on
tradition
s and
culture
Customer
Relationshi
p
 Stron
g
backu
p of
custo
mer
Datab
ase
with
the
use of
MIS.
Customer
Segments
 Both
domest
ic and
internat
ional
tourists
.
 Busine
ss
persons
and
familie

ants  Boutique
with
ethnic
wear
sKey
Resources
 Financial
 Human
Resources
 Physical
resources
Channels
 Socia
l
Medi
a
 Trave
l
Maga
zines
 Custo
mer
feedb
ack
loop

Cost Structure
 High Initial Fixed Cost
 Fixed Cost - 60% of Total Set-up
Cost
 Operating Reserve- 40% of Total
Set-up Cost
Revenue Streams
 Interest, rent and dividend
revenue
 Project revenue
 Recurring
Value Proposition:-
Based on the followings, it can be said that proposition has considered as
one of a crucial approach which will directly, benefit or specifically the value
which are not available from other. Again, value proposition is a promised set of
benefits delivered by company to its customers to fulfil their needs. The value
propositions of Taj Heritage Tower are its strategic location, its low price with
better service and its creation of local Burmese atmosphere.
Customer segmentation
Segmentation means to divide a customer into a different - different group
such as demographic, psycho graphic, geographic and behavioural. In
Demographic segmentation includes age, gender, status, religion, education and so
on. Geographic segmentation they target customer’s accordion to location, climates