Advantages Of The Ritz Carlton Hotel Company

1095 Words5 Pages
The Ritz-Carlton, Millenia Singapore

1. Introduction
The Ritz-Carlton Hotel Company is one of the renowned premier hotel management companies in the world today. Their goal of providing world-class service to its guests is rooted in tradition, which began with Cesar Ritz, the “king of hoteliers and hotelier to kings” in the early 1900s in Europe. (The Ritz-Carlton About Us History) His vision of excellent personalized service and innovations redefined the luxury hotel experience in Europe through his management of The Ritz Paris and the Carlton Hotel in London. Cesar Ritz passed away in 1918 but his wife Marie continued the expansion of hotels bearing his name.
By 1983, when the Atlanta-based Johnson Company bought the North American rights
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However, luxury services work in the same manner as luxury goods; they possess high income elasticity of demand. That is to say that as people became wealthier, they will purchase more and are more willing to indulge in luxury services. This works the opposite way as well. As people’s income decrease in times of economic recession, demand for luxury accommodations declines considerably as people settle for less costly alternatives that can fulfill their basic needs.
Furthermore, it is of good marketing advantage that The Ritz-Carlton belong to a “chain of hotels” to benefit from brand image or loyalty.

2.2.5 Competitive Rivalry
A player in the luxurious hotel industry is generally not prone to intense rivalry because of the fragmented nature of competition in its strategic groups and the potential growth rate of its target market.

2.4 Summary of key opportunities and
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Based on the findings of a nine-step customer problem solving team, business and leisure travelers are checked in according to their specific needs. Business travelers are checked in quickly and efficiently whereas leisure guests are given the choice of a more pampered check-in with champagne and a more lengthy presentation of the hotel services and amenities. (The Malcolm Baldrige National Quality Award, The Ritz-Carlton Hotels) The Ritz-Carlton, Millenia Singapore was awarded Best Business Hotel at the 18th Annual TTG Travels Awards 2007. (Singapore Tourism Board Annual Report 2007/2008,
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