Four Seasons Inc Essay Sample
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- Category: hotel
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Four Seasons Inc Essay Sample
1. Company – Four Seasons Hotel
Company History: Four Seasons Hotel, Inc is a Canadian-based international luxury, five-star hotel Management Company. It is one of the world’s most admired and successful luxury hotel chains, and has been named by Fortune consecutively for 16 years as one of “100 Best Companies to Work For” since 1998. The company was also awarded the “Best Business Hotel Chain Worldwide” by Business Traveller. Four Seasons Hotel was founded in the 1961 in Canada by Isadore Sharp, and the hotel (a motel at that time) in Toronto was an oasis for business travellers. It became an upscale luxury hotel when they expanded in London in 1970s. It was also then that Four Seasons would make the four strategic decisions that formed the pillars of its business platforms: exceptional quality, luxury services, explicit culture, and renowned branding. In the 1980s, Four Seasons expand in the United States and moved from owner-operator to hotel managers. In the 1990s, Four Seasons has acquired a strong branding and also begin to build its portfolio of resorts. It also begins to expand in Asia (e.g. first Four Season Hotel in Asia was opened in Tokyo in 1992) and Europe.
From 2000 onwards, Four Seasons continued to achieve global growth in both size and recognition. In 2002, Four Seasons Hotel Shanghai marked the company’s entry into the growing Chinese market. In May 2008, Four Seasons marked its entry into the Indian market with a contempory hotel in Mumbai’s Worli district. Company Analysis & Business Model: Being one of the top luxury hotel chains in the world, Four Seasons has approximately two-thirds of its portfolio in urban areas while the rest in is in resorts market. Four Seasons offered their customers a luxurious, highly quality and customized service and experience. Its facilities include great restaurants and bars, luxurious entertainment facilities like spa and golf, and business meeting rooms. Its competitive advantages include a larger staff, who are trained on a company’s credo – The Golden Rule “To treat others as we would wish to be treated ourselves”, than its competitors. Four Seasons target the luxurious customer segments comprises of travellers of all backgrounds and ages including business executives, families, honeymoon couples etc. As a result, Four Seasons’ superior management and reputable brand (strong brand equity through goodwill and name recognition) generates developers’ interest.
Unlike many of the hotel chains which use a property ownership management in which the company manages the hotel properties that it owns, Four Seasons provides management operations to hotel properties own by third party in exchange for management fees (including incentive fees based on the financial performances of the hotels). Generally, the long term management contracts enable Four Seasons to participate in the design of the hotels and to be almost in full control of all the operations. Four Seasons generally earns 3 percent of the gross income and approximately 5 percent of profits from the properties it operates, and the property owners are required to additionally contribute money for chain-wide sales, marketing and reservations systems. Expansion in the Asia: Four Seasons has followed a targeted course of expansion, opening hotels and residences in major city centres and desirable resort destinations around the world.
Four Seasons currently managed over 90 properties in 37 countries globally under its management. It has over 50 projects under development in various stages and of design and construction. With 13 hotels and 9 resorts in the Asia, Four Seasons continued to add more hotels and resorts to its portfolio, notably in China & India. The number of properties in cities including Beijing and Shanghai will bring its hotels in China to 14. Four Seasons Hotel Shenzhen is schedule to open in mid-2013. It is also planning to add new hotels in India major cities like Bangalore, NCR(national capital region), Goa, Rajasthan(Jaipur and other cities), Kerala and Agra over the next few years.
9 Resorts: Bali – Jimbaran Bay, Sayan. Thailand – Chiang Mai, Koh Samui, Golden Triangle. Malaysia- Langkawi, and Bora Bora, Maldives at Kuda Huraa & Maldives at Landaa Giraavaru. 12 Hotels – Bangkok, Beijing, Hangzhou at West Lake, Hong Kong, Jakarta, Macau, Mumbai, Shanghai & Shanghai Pudong, Singapore & Singapore (The Regent),Sydney, Tokyo at Marunouchi
http://press.fourseasons.com/news-releases/four-seasons-hotels-and-resorts-named-to-fortune-list-of-the-100-best-companies-to-work-for/ http://www.hotelnewsnow.com/Articles.aspx/7063/Four-Seasons-global-expansion-moves-forward http://www.cpp-luxury.com/four-seasons-pursues-expansion-in-india/