Ritz Carlton

The Ritz Carlton Hotel Company was founded in 1899 by Cesar Ritz. After a undefeated first hotel opening night in Paris, he decided to work up the attempt to open a routine hotel in capital of the United Kingdom this age. Taking the acquired experience, Cesar Ritz made the big step to expand to the marriage American market. Today the Ritz Carlton Company counts 38 hotels and resorts across the orb (Sucher, S.J. & McManus, 2002). Following a growth strategy of increasing the event of counsel contracts as quick as possible, the Ritz Carlton adopted the job model of hotel chains. Their actual revenues therefore come from management fees as well as from land rent, resort timesharing, franchise fees, management incentives, and profit sharing (Sucher, S.J. & McManus, 2002). One important partner for whom Ritz Carlton managed the hotel opening in Washington, D.C., argon the millenary Partners. Ritz Carlton actually manages the properties and the Millennium Partners are the legal owners of the hotel. This influential partner is at the same time involved in line of reasoning activities with Ritz Carltons biggest competitor, The Four Seasons.

Doing business with one of the two biggest luxury hotel chains in the world, the Millennium Partners aim is to develop residential areas through the hotel business in line of battle to create luxury apartments, for singulars who are looking for second or third homes in world-class cities (Sucher, S.J. & McManus, 2002). In legal injury of segmentation (Sucher, S.J. & McManus, 2002), Ritz Carlton has two main B2C target customer groups: free-living travellers and the meeting event planners. Independent travellers are defined as people benefiting from the luxury service quality for business reasons from individual initiatives or simply for pleasure to resident in a luxury hotel. Meeting event became an interesting way to withdraw independent business travellers as well. These group of target customers rapidly became the biggest source of revenues for the company, representing... If you want to get a full essay, order it on our website: Orderessay

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