Excerpt from Term Paper:
Kimpton Accommodations Restaurants
This conventional paper analyzes the interior and external environment of Kimpton Accommodations and Eating places for the purpose of promoting the most effective and feasible approach to enter the boutique hospitality industry of Hong Kong. The internal environment is usually assessed by simply analyzing the core advantages and major weaknesses of the company although external environment is examined through an analysis of potential opportunities and threats, competitive environment, market overview, and future sector trends which the company may possibly face in the Hong Kong marketplace. A number of tactics are advised to the company in the mild of these analyses.
Kimpton Hotels Restaurants
Kimpton Hotels Eating places Group Incorporation. is the most significant boutique hotels chain in the us. It was set up in 81 by Bill Bill Kimpton. Kimpton Resorts Restaurants can be headquartered in San Francisco, California. It functions a large number of restaurants, hotels, and bars over the United States. Kimpton markets its different hospitality services underneath independent brandnames. However , it has recently opened up a couple of sub-brands under its very own major company. These sub-brands are: Resort Monaco and Hotel Palomar. The corporate guidelines of the company are entirely focused on client satisfaction. Due to its deluxe and stylish cafe concept, great customer companies, and dreamland of comfort in boutique hotels, Kimpton Resorts Restaurants is known as the most popular and luxurious boutique hotel chain near your vicinity. The hotel has also attained remarkable placement among the best business employers of the world. In line with the Fortune Magazine, it is the 29th best location to work for in 2013. Furthermore to its own brands and sub-brands, the company also operates a large number of resorts and eating places owned by simply other business men of the country (Kimpton Accommodations, 2013).
Boutique Hospitality Motivation in Hk
Kimpton Hotels Restaurants aims to expand their business businesses in Hong Kong by establishing boutique accommodations under its own brand name. To be able to effectively sink into and establish its presence in this fresh market, Kimpton Hotels will have to carefully analyze the external environment which in turn it will face in Hk. The examination of external environment can be done by evaluating the possibilities, threats, competitive pressures, and future styles in the hospitality industry. The company will also have to analyze its very own strengths and weaknesses in order to encounter the environmental threats and avail the potential opportunities using this market (Lancaster Withey, 2007).
SWOT Examination of Kimpton Hotels Restaurants in Hk
Kimpton Resorts Restaurants is one of the most popular and good boutique hotels chain in the usa. Therefore , the greatest benefit which usually it will join Hong Kong is definitely the already established brand graphic. With the help of their brand acknowledgement and strong presence in the U. H. hospitality sector, Kimpton Accommodations will not encounter any difficulty in building their brand graphic in Hk or persuade its customers to get its providers. Secondly, Kimpton Hotels will certainly able to establish a big business create in the new market because of strong financial position and money flows. Kimpton Hotels is known for its magnificent hotels and restaurants that happen to be comparatively fewer in quantity in Hk. Therefore , investment decision you won’t take a very long time to list itself among the finest boutique resorts in this market (Kotler Armstrong, 2008).
The luxurious, stylish, and elegant concept of eating places and store hotels will likely become a some weakness for Kimpton Hotels when it will contend with the other industry participants like 3-Star and 4-Star hotels and restaurants. Due to its premium-priced solutions, Kimpton Resorts will have an extremely limited consumer bottom in Hong Kong. It will not be in a position to target the middle and higher middle cash flow groups of the society. Second of all, Kimpton Accommodations is not specialized in Hong Kong style store hospitality. Consequently , it will take a considerable time to focus on this discipline and be able to the fatigue competition in an effective and competitive method.
In its intercontinental expansion strategy in Hk market, Kimpton Hotels could have various attractive opportunities to avail. First of all, it provides an advantage of fun-loving and modernized life style of Hong Kong citizens which usually perfectly matches its concept of doing magnificent business. Second, it can access joint ventures and partnerships with large scale hotels organizations and potential investors in the target market to be able to take supply chain edge (Mu-hlbacher, Dahringer, Leihs, 2006). Moreover, the hospitality sector of Hk is becoming more and more attractive due to relaxed and favorable legal infrastructure. Kimpton Hotels may set up the business without the risk of bad governmental stresses or non-supportive behavior. The sound financial power of Kimpton Hotels can easily greatly help it in marketing its organization through every one of the major advertising and marketing mediums. It can run pricey campaigns on tv, radio, mags, newspapers, and social media to create awareness of their new specialist hotels among Hong Kong consumers.
In addition to a range of potential possibilities, Kimpton Resorts will face certain threats in the new market. The largest threat would be the top sector rivals in the hospitality sector like community and international boutique hotel and restaurant chains. These kinds of rivals currently have an established company image and strong existence in the Hong Kong market. Second, Hong Kong will likely be the first international target audience for Kimpton Hotels. There is a potential risk that Kimpton Hotels is going to fail to carefully analyze its external environment like hospitality industry tendencies, consumer tastes, competitors’ strategies, economic challenges, legal and governmental infrastructure, and the like. Furthermore, there is a big risk that Hong Kong consumers refuse to recognize the boutique hospitality concept which is based upon purely American style. Consequently , Kimpton Resorts may have to entirely redesign or perhaps mold it is concept to fit the Hong Kong culture (Mu-hlbacher, Dahringer, Leihs, 2006).
Kimpton Hotels will compete with a lot of luxurious and boutique accommodations in Hk. These resorts have effectively captured the market by providing remarkable hospitality providers to their local and worldwide clients. The top level rivals for Kimpton Hotels contain; JW Marriott Hotel, The Salisbury, Mandarin Oriental, Conrad Hong Kong, Resort ICON, The Peninsula Hk, Island Shangri-La, Olympic Terrace Suites, The Landmark Mandarin Oriental, Langham, Harbour Grand Kowloon, Noble Plaza Hotel, The Excelsior, InterContinental Grand Stanford, Kowloon Shangri-La, etc . Most of these opponents have used diverse businesses in Hong Kong, China, and international market segments. In addition to top level competitors, Kimpton Hotels will even have to compete with other 3-Star and 4-Star hotels which in turn provide both equally luxury and economical services and have considerably lower charges than specialist hotels.
Review of the Market:
The hospitality sector of Hong Kong is concentrated using a large number of accommodations, restaurants, and bars. The industry is usually collectively completely outclassed by regional luxurious and boutique hotel chains and classy restaurants. Nevertheless , due to the increasing trend towards luxurious dining, deluxe eating experience, and modernized life style, the sector has created attractive opportunities for brand spanking new investors to come and join this profitable business (Lamb, Hair, McDaniel, 2012). There are very weak barriers to entry for foreign hotels and restaurant restaurants in the Hong Kong hospitality industry. The major market share of the industry is in the hands of contemporary hotels, cuisine organizations, and take out restaurants. However , due to their premium-pricing strategies, store hotels have got failed to gain a high business and large customer base.
One main advantage of store hotels above local non-trendy hotels and restaurants in the Hong Kong companies are that they are more liked and appreciated by international customers who also come to check out Hong Kong and also have luxurious living and dining throughout their stay. These types of customers really are a big way to obtain revenues to get boutique hotels in Hk.
Future Styles in Hk Market:
The changing market trends and customer preferences have made the hospitality firms to think out of the box and turn into more intense in their promoting approaches (Kotler Armstrong, 2008). The food industry of Hong Kong has been saturated with all types of fast food restaurants, cuisines, boutique hotels, and non-trendy restaurants. Now businesses are diversifying their very own hospitality businesses in related and unrelated product and service lines. These division enable them to provide all kinds of services which usually a potential buyer may want or wish to have during his stay at the motel; like outdoor playing areas, casinos, bars, clubs, special attractions, marriages, celebrations, fitness centers, cctv camera installation services, medical facilities, and several others.
Because of the increasing tendency of consumers to a more magnificent and modern life style, boutique hotels have now entered into a cold war together. They remain competitive on the basis of consumer services, costs, extra establishments during along with the stay, membership rewards, etc . It really is anticipated for the near future that boutique food will further flourish inside the Hong Kong industry due to its ever-increasing demand and the