An in-depth analysis of the strategies of the Marriott Marquis of New York.
Written in 2009; 4,689 words; 9 sources; APA; $ 120.95
Paper Summary:
The paper focuses on the Marriott Marquis of New York and outlines the company's mission statement, slogan and vision statement. The paper provides a SWOT analysis and outlines the objectives to be accomplished during the coming year. The paper then discusses the company's product positioning, its reliance on analytics, and its budget and ethical issues. Finally, the paper offers several recommendations to the Marriott Corporation.
"Marriott decided back in the early 1990s to separate ownership of hotel assets from management and franchising of brands. The result was a split of the company into Host Marriott and Marriott International. Today, Marriott focuses on investing in its brand, leaving real estate investing to third parties (e.g., Host Marriott, Sunstone, Diamondrock, etc.). This business strategy is a less capital-intensive model that generates higher average returns on assets than real estate-based models. Marriott's manager-franchisor model also ensures a steady fee stream. Under the fee-based model that Marriott pursues, ensuring a steady stream of new additions to the number of branded rooms under management or franchise agreement is critical to the company's earnings growth. Typically, Marriott earns a base fee of 3% of gross revenue from managed hotels and a fee of roughly 5% of room revenue for franchised hotels. The company's sound business model enables it to leverage its brand identity to achieve economies of scale, whose benefit the company passes on to its customers."
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