Hyatt Regency Marketing Analysis and Strategies

Hyatt Regency Marketing Analysis and Strategies
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Hyatt Regency Marketing

Analysis and
Strategies
Published: 23, March 2015
The Hyatt Regency is delegate of the five star brand .Hyatt Regency encompass
the full selection of hotel types, with person properties offering a full range of
skilled services and dining options customized to fulfill the needs of conference,
business travelers or resort vacationers. Hyatt Regency enables all guests whether
they are traveling to work, calm down or gather in festivity to feel creative and
revived. Properties range in size from 200 to over 2000 rooms and are opportunely
to be found in urban, suburban, airport, convention and resort destinations around
the world. Hyatt Regency's convention hotels feature abundant meeting and
conference facilities proportionate to the number of bedrooms or to market
demand. Convention hotel guests are often part of a premium group, meeting or
conference. Business hotel guests are primarily individual business travelers.
Resort hotels cater to couples seeking a absent yourself, families enjoying a
vacation together and corporate group seeking a relaxed atmosphere in which to
conduct business meetings The Hyatt Regency properties are prominent for their
expedient and strategic locations within major cities throughout the country. Also
synonymous with the brand are the high level of personal service guest service
http://www.ukessays.com/essays/marketing/hyatt-regency-marketing-analysis-and-strategies-marketing-essay.php[13-03-2016 12:12:56]
and the extensive range of comprehensive business facilities available in luxurious

ways
Situation Analysis
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The 'Hyatt group is the ninth largest International Hotel chain

in the world, with over 320 wholly owned properties. This group is specialized in
occupying strategic, inner city locations and serving first and foremost commercial
patrons. Hyatt Hotels Corporation operates several chains. The Hyatt Regency
brand is the oldest brand in the company, with the Grand Hyatt and Park Hyatt
brands being introduced in 1980.Of these properties, some are styled as "resort"
properties, and may featurespasor other recreational facilities. The property
has other following chain including Hyatt Place, designed as a restricted service
offering embattled to the business traveler. An extended stay chain,Summerfield
Suites, was acquired by Hyatt in 2005, and features 34 locations in the United
States. Hyatt also launched a new brand, Andaz, in April 2007.The first hotel to
bear this brand was The Great Eastern Hotel inLondon, with additional properties
now open inSan Diego, West Hollywood, andNew York City(Andaz Wall
Street & Andaz Fifth Avenue). Hyatt recently announced a large expansion of the
Andaz brand, with properties expected to open in Austin, TX,Turks and
Caicos,Amsterdam,China, andIndia.
In addition to hotels, Hyatt also operates an upscale timeshare program through
Hyatt Vacation Ownership, Inc. The program is known as Hyatt Vacation Club. It
currently has over a dozen locations, some of which are located within or
connected to Hyatt hotels.[15]Additionally, the group runs a chain of upscale
retirement homes known as Classic Residence by Hyatt[16]and offers retail
home dcor and furnishings through Hyatt at Home, an online store featuring
luxury product. The Hyatt Regency, is somewhat depressed, due to the economic
downturn and restrictions being reliant on annually contracted clients from the
travel
trade, automotive and IT sectors with guaranteed room nights per year. This area
of business
accounts for 70% of the property's revenue. The current market is made on
corporate travel. This threat to the critical corporate sector could be considered as
short to medium term, as indications of a return to business travel observed.
http://www.hyatt.com/hyatt/about/our-brands/hyatt-regency.jsp
The Company
The Hyatt Regency, is agent of the five star brand within the Elite
Business Hotels of the World' group. All Hyatt Hotels are first-class properties,
contribution
between 200 to 2000 exclusive rooms.
Mission
The Hyatt Regency is fanatical to providing its guests with the uppermost
eminence of renovate and values. We seek to distribute on our promise of
assessment and eminence above all else. We value our position in the community
and will work to develop those associations and to respect and defend our
background .At Hyatt, we're committed to making a optimistic and long-lasting
bang in every group of people in which we maneuver. We do this by representing a
strong promise to preserving our natural environment through Hyatt Earth, by
giving back to the local community through Hyatt Community, and with the
volunteer services of our associates through Hyatt's Family of Responsible and
Caring Employees (F.O.R.C.E.).
Service Offering
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Service:first-class facilities accompanied by accomplish extraordinary service,

differentiated from Antagonism in line with the overall brand strategy has
demonstrated to be a victorious move toward generating high levels of replicate
business Hyatt Regency has a long-standing status for equipped excellence and
expertise, ensuring that individual hotels achieve maximum competence and guest
satisfaction. Detailed operational policies and standards are provided for each
Hyatt sub-brand, allowing owners to leverage the experience and knowledge of the
Hyatt network in driving performance and preference.
Rooms : Hyatt provides detailed policies and standards for each sub-brand to
ensure smooth and efficient operation of the rooms division for individual
properties.
Food and Beverage: Hyatt has a global reputation for award-winning restaurants,
creative banqueting, and sophisticated kitchen and ordering systems.
Human Resources: We strive to be the employer of choice for the thousands of
associates who make a difference in the lives of our guests every day.
Technology :Our IT team works to provide long-term technology solutions that are
efficient and cost effective while supporting the needs of the business.
http://www.hyatt.com/hyatt/about/our-brands/hyatt-regency.jsp
SWOT Summary
The following things to see the internal strength and weaknesses of our
organization and the opportunities and threats facing the company in our external
environment. We must come forward to improve our lines of weakness.
Organizational strengths must be set in order to make the most of the peripheral
opportunities as
they occur, and emergency plans should be formulated in such a order that helps
us deal with threats presented by the external environment
SWOT ANYLISIS IS FOLLOWED BY THE

MCKINSEY 7S MODEL
STRENGTHS
http://www.chimaeraconsulting.com/images/baseline/mkinsey7s.gifhttp://www.value
basedmanagement.net/methods_7S.html
Strategy:well illicit and differentiated approach used
Structure:well organized, decentralized construction.
Skills:assorted choice of service skills within organization and employees.
Style:hard-hitting, participative environment.
Staff: highly valued enthusiastic and talented personnel that are aggravated
and extremely proficient. A well
competent team who are proud of their hotel and respect the brand values are part
of the organization
Shared Values:understandable and well communicated and organized
Brand Strength: All brand values ,beliefs and norms well represented bring
into existence of brand loyalty between all the guest of the organization
Reputation:a strong status is build up in the external and internal competitive
market
WEAKNESS
Strategy:All the strategies should be well communicated between internal
and external market
Systems:recognized systems result from the feature angled work and
circumstances.
Interdepartmental interaction could be enhanced
Staff:constant training is very essential among the internal staff. Each internal
employee should be well informed and educated of the new and upcoming policies
Facilities:certain rooms require restoration and upgrade technical
Apparatus, such as high Internet admission and laptop links with intense WIFI
connectivity
OPPORTUNITIES
Market:Returning growth rate.
Competitors:As per now there is no much competitor for Hyatt Regency in
five star hotel properties
Suppliers: well-built and long term relationship is build up with suppliers
Guest Reliance:replicate corporate business based on personal service and
excellence
THREATS
Market Entry:It is very likely that the competitive and global brand can come
up with the similar product and service line
Substitutes:Numerous comparable services and standards can be emerged
and offered in low rates
Economy:coming back to the same level of performance and offer value
standards due to recession may take bit more time
Historical Results
Marketing mixallows you to combine all the marketing tools in order to sell your
product Chris Murray - Portfolio(2006) - Hardback -290 pages
Marketing activity in previous years has produced positive results. The areas that
have
Produced the best results have been:
Product:high-quality facilities and services accompanied by consummate
personal service,
differentiated from competition, in line with the overall brand strategy has proven to
be
a successful approach generating high levels of repeat business
Price:pricing strategy has been consistent with the differentiation objective, to
provide
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added value for a reasonable rate as opposed to discounting and devaluing our
products and services.
Place:service information is provided to the guest via personal selling, direct
marketing, advertising and the Internet. Delivery channels include travel agents
and
international reservations systems.
Promotion Hyatt's Central Reservation System is an important contributor to the
performance of our hotels system wide. The system reserved 17.9million roomnights in 2009, representing approximately $3.6 billion in room's department
revenue. Reservation centers are located globally in the all the major places like
United States, Australia, India, UAE, Germany, Japan and China and are provides
24/7 access services to the prospective guests. High quality performance is
delivered to meet the market need and build up relation with the distribution
channels. These include traditional travel agencies (e.g., American Express,
Carlson Wagonlit), online travel agencies (e.g., Expedia, Travelocity, Orbitz and
multiple regional agencies, etc.), opaque agencies (e.g., Priceline, Hotwire) and
multiple user-generated sites that link back to Hyatt.com (e.g., Trip
Advisor).Hyatt also has extensive marketing partnerships with all global and
regional airlines.
Our marketing strategy's objective is to communicate the unique set of services
that we offer to discern hotel guests. We attempt to direct the focus of our guests
to the issues of quality and value for the money as opposed to simply the bottom
line costs associated with their stay.
Our marketing strategy will allow us to communicate our brand values, develop
close working
relationships with our customers and suppliers and to identify the needs of our
guests in an
effective manner. Continued differentiation and growth are two goals we have set
for
ourselves. Growth will take place by targeting new areas of business within both
local and
national communities.
Strategy Pyramids
Our marketing strategy is to focus customers' attention on the high quality of the
services we
offer. Within this strategy are three main points aimed at different market
segments.
We will provide:
The Best Business facilities
Personalized Services
Luxurious Amenities
Marketing Strategies
. Brand Marketing
Hyatt's Regency marketing strategy is well designed to shelter and maintain brand
value and responsiveness while formulating the specific business requirements of
hotel operations.
Hyatt is focused on targeting the distinct guest segments that each of our brand
delivers and supporting the needs of the hotels thorough daily analysis and
application of data and analytical techniques.
There is a well organized, harmonized and incorporated communication strategy
for the Hyatt master brand and each of the sub-brands across every distribution
channel.
We aim to keep hold of maximize potential revenue of our existing customers and
expand the number of new clients through a distinctive marketing approach
motorized by information and analytics. primitive, quantitative strategic analytics
and prognostic modeling identify the most profitable customers, enabling Hyatt
Regency to influence partiality in all facets of marketing. The quality driven model
is basically being used to develop the value and standards of our most loyal
guests, our Gold card holders , and within 2 years, it will be activated throughout
the organization
Coordinated - Marketing
Hyatt Regency coordinated marketing initiative benefits a sub-set of hotels and
resorts, as well as beneficial to regional programs. Cost portion is based on the
balanced share of actualized room revenue for trailing 12 months of participating
hotels in the targeted business segment
Field Marketing
The Corporate Marketing management assigns a personal hotel marketing
manager to each hotel to help them market their individual property. The marketing
manager then utilizes the property's business requirements, issues and profit
objectives and helps in the development of the brand and promotional marketing
programs.
Direct Marketing
Our direct marketing will be handled by our PR agency. We will buy select targeted
list of
corporate companies and send them information about Riverview Hotel. We know
that we are
no experts in direct marketing so it will be important that our PR agency handles
every aspect
of direct marketing for us.
CORPORATE SALES FORCE

U.S. SALES
http://www.hotel-online.com/News/PR2007_2nd/LodgingLedgerApril2007Chart1.jpg
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FIGURE 1
The above figure shows the sales forces of Hyatt Regency and its rice of profit
ratios In 2006, Hyatt created a revenue organization combining Sales, Catering
Services, Revenue Management and Marketing for all of North America. This
consolidation included Full- and Select-Service brands and enabled us to respond
to market conditions, enhance our support of these functions in each of our
properties and increase Hyatt's brand demand.
As Hyatt expands our brand portfolio, our chain sales efforts include the Worldwide
Sales Force (WWSF), focused on selling multiple brands to approximately 1,800
highly valued customers. In 2005, Hyatt established a separate National Sales
Force (NSF) focused on prospective customers with whom Hyatt believes
significant business could be developed over time.Hyatt's exclusive sales
automation application (Envision) allows our WWSF and NSF to have a seamless,
direct connection to functionality, including researching availability and booking
business at all properties. With the addition of Hyatt Place and Hyatt Summerfield
Suites, the dedicated Business and Leisure Travel Sales Force within our WWSF
now focuses oncorporate, wholesale and leisure accounts.
Recognition
A recent independent survey of key account customers conducted by Maritz
Research identified Hyatt as the "Best Hotel Brand" based on relationships with our
WWSF and NSF for contract coordination. This same survey indicated that these
key accounts signed more multi-meeting contracts with Hyatt than with our
competitors in the past 12 months, thereby demonstrating strong brand loyalty.
Segmentation
Through our group-oriented business expertise and worldwide reputation for
convention hotels, Hyatt is a premier operator of conference hotels in primary and
secondary cities around the globe. Benefiting from Hyatt's powerful NSF, these
large, full-service conference hotels capitalize on advance-booking cycles and
associated substantial catering revenue. Professional meeting planners continually
rate Hyatt among their most preferred hotel partner. Planner Rewards, Hyatt's
specialized loyalty program for meeting planners, is a vital strategy for building and
leveraging relationships with key customers across the network.
INTERNATIONAL SALES
Hyatt's properties and preopening sales offices are supported by a network of
salespeople in key markets around the world. Our sales professionals represent all
Hyatt destinations and focus on all relevant market segments. These include
corporate accounts, M.I.C.E. accounts, key wholesalers, travel agencies and luxury
travel specialists. Additional support is provided to our hotels with dedicated
resources managing programs such as Virtuoso and American Express Fine Hotels
& Resorts.
The network includes offices in New York, Chicago, Los Angeles, San Francisco,
Washington D.C., Mexico City, London, Mainz, Sydney, Melbourne, Riyadh, Tokyo,
Hong Kong, Singapore, Beijing, Shanghai, Pune, Bangalore, New Delhi and
Mumbai, as well as additional coverage throughout Continental Europe. Each office
is responsible for ongoing support of the Hyatt portfolio. Additionally, each office
coordinates the presentation of Hyatt and Hyatt's sub-brands at important industry
events and shows such as ITB, World Travel Market and Asia Luxury Travel
Market. Hotels also have the opportunity to participate in annual Hyatt fairs and
sales calls coordinated by each worldwide sales office. These events provide the
hotels with face-to-face access to Hyatt's best existing and potential clients.
REVENUE MANAGEMENT
Hyatt uses a state-of-the-art revenue management system to provide
centralized direction for pricing, distribution strategy and staff development.
Revenue management, however, is more than a computer system. It is an
integrated set of business processes that bring together people and technology,
with the goal of understanding the market, anticipating consumer behavior and
responding quickly to maximize revenue opportunities.
There are five regional directors of revenue management who support the revenue
managers and revenue maximization process. The regional directors are aligned
primarily by product type, including large convention, resorts and business.
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Chapters
Situation Analysis
The Company
Mission
Service Offering
SWOT Summary
SWOT ANYLISIS IS FOLLOWED BY THE MCKINSEY 7S MODEL
STRENGTHS
WEAKNESS
OPPORTUNITIES
THREATS
Historical Results
Strategy Pyramids
Marketing Strategies
. Brand Marketing
Coordinated - Marketing
Field Marketing
Direct Marketing
CORPORATE SALES FORCE
U.S. SALES
Recognition
Segmentation
INTERNATIONAL SALES
REVENUE MANAGEMENT
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