Le Parker Meridien 119 West 56 Street, NY,NY 10019

Senior Project By :

Sumeet Parmar, Elizabeth Jaquez-Flores, Brunnel Milard, Prashant Purohit

Under Guidance of Prof. : Bernard Iatauro

Hospitality from the French word “Hospice”To provide for the wearyTo take care of Traveling

Sumerians(2500 BC) “House of the go far people”

Code of Hammurabi (1792- 1750 BC)Caravanseri “Caravan “ (Persia 200 BC)Hotel in Olympus for visitor of the Olympic

games (4th Century B.C

History of Hospitality Industries

The history of the hospitality industry in the United Sates dates all the way back to the colonial period in the late 1600s. Things have changed quite a bit since then;

The hospitality industry has experienced significant changes and development over the years as it has faced world wars,

The depressions era and various social changes. The industry as we know it today began to take from in the early 1950s and 60s.

Time line of Hospitality Industry

Early America 1600-1920WWI 1910Golden Age 1920Depression 1930Motel Age 1950Growth 1960-1970Recession 1980Recovery 19909-11 …….

Cyclical history of hotel in America

Time Line

The Jack Parker Corporation was founded in 1955 by Jack Parker.

Company was first founded as family owned business and still remains as a privately owned real estate development company.

Company manages a portfolio that includes more than 15,000 residences of luxurious high-rise rental, condominiums, and single family homes throughout the Northeast and Florida in the United States.

Jack Parker Corporate History

Le Parker Meridien was first founded in 1981 as part of Le Meridien Hotel and Resort chain.

It has been sold and purchased over twenty different times by Japanese and British firms. The birth of Le Parker Meridien goes back to the origins of Le Parker Hotels and Resorts back in 1972.

Le Meridien Hotels and Resort was first established by Air France. Le Meridien Hotels is an international European hotel chain with headquarters in United Kingdom.

Le Parker Meridien Corporate History

Le Parker Meridien was acquired by The Jack Parker Corporation in 1992. After the purchased, Le Meridien became Le Parker Meridien. In 2001.

After the purchased, Le Meridien became Le Parker Meridien. In 2001, another branch was opened in Palm Springs, California.

Le Parker Meridien Corporate History

Le Parker Meridien Hotel42 Floors with 732

Rooms. Restaurants & Bar:

Norma’s Seppi’s Burger Joint knave

Rooftop PoolHealth Club:

gravity

“Our mission is to exceed the expectations of our guests, inspire and reward our associates, and provide superior financial results to those who entrust us with managing their assets,”

Le Parker Meridien Corporate site, 2009

Le Parker’s Mission

“[We pledge] to provide a deluxe personal service to our guests providing the sense of warmth and privacy. We will understand the needs of guests and associates, to consistently surpass their expectations by delivering relax yet luxurious aspects of our facilities,”

Le Parker Meridien Corporate site, 2009

Le Parker’s Vision

Environmental conditions affect Businesses in many ways. These conditions include the following factors:

Economic SocialCulturalTechnologicalPoliticalGlobal

Environmental Analysis

Economic factor :

The economic factor can impact businesses within all industries. Environmental changes reflect standards and general well being of a society.

Environmental Analysis

Environmental AnalysisThe graph below indicates that airlines and hotels are the severely affected after 9-11 attack.

The social factor:

Changes in demographic and life style trends.Emerging archeological tourism in New York

City.

The global factor

GlobalizationPromotion of cultural diversity

Environmental Analysis

Environmental AnalysisThe cultural factor

The United States of America is a country rich in history and cultural diversity.

In New York alone, two hundred and fifty languages are spoken.

The Technological factor

Virtual ToursOnline ReservationTechnology offered on hotel premisesIT System to manage hotel operations

Environmental Analysis

The political factor

The political factor has been playing a pre-dominant importance in the economic function and behavior of a society of every country in the world. Thus, the economic stability or instability of a country is the result of its form of government or political establishment.Political unrest

Environmental Analysis

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A SWOT analysis is a situation analysis in which internal strengths and weaknesses of an organization, and external opportunities and threats faced by it are closely examined to chart a strategy.

SWOT

SWOT

Strengths

LocationFood BusinessLow Employee turnover rateCollecting new customers feedback

Panoramic View of New York City

Relaxing by the pool

SWOT

WeaknessesCustomer reviews from other sources are not taken into consideration

Underutilized resourcesFrequent change of ManagementLack of AdvertisingWebsite is not user friendly

Le Parker's Customer's Review

   

 Like it/

Total Reviews : 227

Do not like/Percentag

eNo

Complains Complain(s)  Category of Customer      

Business Class 40 10 25

Romance 33 6 18

Family Vacation 21 3 14

With Friend 36 4 11

All Other Type 61 13 21

  191 36 19

SWOT

OpportunitiesAvailable resources in premises to start new ventures

Emerging international markets

New packages for budget travelers

SWOTThreatsIntensive CompetitionEconomic slowdownChanging local government regulations puts them on the spot

Le Parker Main Competitors

Jumeirah Essex HouseFour SeasonsNew London NYC

Competitor's Analysis

Essex House's Customer's Review

   

 Like it

Total Reviews : 215

Do not like/

Satisfaction Percentage

No Complains Complain(s)  

Category of Customer      

Business Class 40 4 90

Romance 62 5 92

Family Vacation 22 0 100

With Friend 18 0 100

All Other Type 59 5 92

  201 14 93

Four Season's Customer's Review

   

 Like it/

Total Reviews : 227

Do not like/

SatisfactionPercentage

No ComplainsComplain(s)  Category of Customer      

Business Class 217 10 96

Romance N/A N/A N/A

Family Vacation N/A N/A N/A

With Friend N/A N/A N/A

All Other Type N/A N/A N/A

  227 10 96

Parker Meridien main market segment are:

Business PeopleCelebrity Foreign Travelers

Market Segmentation

Enhancement and Revitalization Project

The Parker Meridien press release reported that the arrival of Norma’s breakfast restaurant in 1998 quickly gained awards and praise as the best breakfast in New York.

Market Targeting

The Parker Meridien goes ergonomic

The hotel management made a conscious effort to renovate all hotel rooms ergonomically with improved lighting, cordless phones next the beds, convenient workstations equipped with all needed accessories and comfortable chairs

Market Targeting

LocationDesign family oriented packages. Ex. Walking

tour of Central Park.Economic Slowdown

Design affordable packages targeting lower-middle class.

Enhance current web page.

Recommendations

Advertisement of the Business

Use location and food businesses as focus of advertisement

Intensify advertisement two months prior to slow season to attract local clientele

Collaborate with local companiesBecome more aggressive

Recommendations

Develop system to keep statistical data like annual occupancy, Rates and Prices

New Customer feedback & Take into consideration outside reviewsUse their customer reviews wisely to improve

satisfaction rate to outcome weaknesses

Recommendations

Underutilized resourcesStart using rooftop/ Park View Conference room

to serve dinner as an extension of Norma’sStart food festival of European month in

one of the restaurant

Recommendations

The perfect place to propose to your Valentine

Perfect setting for your Business Meeting