Marketing strategy in the Luxury hotels.
What is the target market for luxury hotels? Business travelers make up the largest segment of business for luxury hotels, particularly during weekdays. Wealthy travelers make up another significant portion of this business.
But what to do if the situation in the world changes daily? Actual situation has a huge impact on the operation of the hotel as well as on the marketing strategy. We need to approach the changing and necessary changes.
What is a Luxury Hotel?
A luxury hotel is defined as a hotel that provides a luxurious accommodation experience to the guest. Luxury hotels, for the most part, do not have any set standards. Luxury hotels typically accommodate high paying guests and the services and dining are expected to be of high quality. Luxury hotels typically provide various guest amenities such as high-end spa treatments, personal trainers, laundry service and more.
Luxury hotels market.
Arising tourism and corporate industries across several regions, increasing disposable income, the rising standard of living of people, and growth in the inclination for leisure travel are anticipated to drive the market. The inflation in purchasing power and standard of living are some of the key constituents responsible for attracting customers toward luxury resorts. Hosting of sports events by a city or country has also signified as a significant factor propelling the demand for luxury accommodations. Sports teams, as well as spectators traveling from different destinations for the tournament, tend to book their stays in luxury hotels, therefore leading to a surge in the number of bookings. Dominant players in the market are investing profoundly in infrastructure and upgrading their property with the latest accessories to enhance aesthetics and overall comfort offered to customers. There are certain restraints and challenges faced which will hinder the market growth. High costs of innovation and development is one of the anticipated restraining factors for the market.
Changes in the hotel segment
The drastic changes in the economic market caused by the war in Ukraine will affect the whole world. The hotel segment, which was accustomed to the rich Russian clientele, must necessarily focus on another market, especially in the luxury bath and spa sector.
However, the well-known generosity of the Russian clientele will be missing. Changing marketing strategy and focusing on new markets is a huge but very important challenge.
,,If we want to survive, we must promptly respond to the constant changes in our environment and monitor the situation in the world.”
New Market
The Middle East, Northern Europe, Kazakhstan and Algeria are thus becoming interesting markets. Addressing these markets requires very specific communication and a new style of marketing. Simple marketing presentations and advertisements do not make much sense in this case, as the very important point is constantly placed on trust and personal presentations.
However, with a strong partner, it’s easier to manage.
,, There are only two options: Find an investor or connect with a very strong partner who knows markets very well. I only work with the best who are ready for these challenges.”
#luxury #hotels #spa #investors
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