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14668HOSPITALITY201014/6/06823AMPAGEADELOITTEMECHANIC280HOSPITALITY2010AFIVEYEARWAKEUPCALLANINDEPTHREPORTINTODRIVINGSHAREHOLDERVALUEINTHEHOSPITALITYSECTORAUDITTAXCONSULTINGCORPORATEFINANCE14668HOSPITALITY201014/6/06823AMPAGEBCONTENTSFOREWORDEXECUTIVESUMMARYDELOITTEENTERPRISEVALUEMAPBRANDTIMETOBUILDONTHEBRANDEMERGINGMARKETSRESHAPEWORLDTOURISMHUMANASSETSTHEPEOPLEPERSPECTIVETECHNOLOGYWHYTRAVELANDITAREMADEFOREACHOTHERAIRLINESANDHOTELSJOINEDATTHEHIPACTIONSTOCONSIDERACKNOWLEDGMENTSANDTHETEAMABOUTDELOITTEANDNEWYORKUNIVERSITYDELOITTEENTERPRISEVALUEMAPFOLDOUTB124581216202425262714668HOSPITALITY201014/6/06823AMPAGE1FOREWORDWELCOMETOHOSPITALITY2010OURVISIONINTOMEGATRENDSTHATWILLAFFECTSHAREHOLDERVALUEOVERTHENEXTFIVEYEARSNEWYORKUNIVERSITYNYUANDDELOITTEDEDICATEDAJOINTTEAMOFPROFESSIONALSTODEVELOPA“VISION2010”OFTHEGLOBALHOSPITALITYINDUSTRYOURVISIONISSUPPORTEDBYRESEARCH,ANALYSISANDSTRUCTUREDINTERVIEWSWITHLEADINGINDUSTRYCEOSTHEREPORTFOCUSESONTHESTRATEGICIMPLICATIONSOFTHEMEGATRENDSTHATARESHAPINGTHEFUTUREOFTHEHOTELINDUSTRYANDWHICHGENERATEMOSTSHAREHOLDERVALUETHEMEGATRENDSWEHAVESELECTEDFORREVIEWATTHISSTAGEAREHOSPITALITY2010WEALSORECOGNISETHEIMPORTANCEOFTHEBUSINESSMODELANDREGULATORYREQUIREMENTSANDACCORDINGLYHAVEIDENTIFIEDTHESEAREASFORREVIEWATALATERSTAGEWEHOPEYOUFINDTHISREPORTUSEFULANDWELOOKFORWARDTOANYFEEDBACKYOUMAYHAVEANDTHEOPPORTUNITYTODISCUSSWITHYOUTHEASPECTSAFFECTINGSHAREHOLDERVALUEINYOURBUSINESSINMOREDETAILBESTREGARDSBRANDEMERGINGMARKETSHUMANASSETSTECHNOLOGYWEHAVEINCLUDEDASECTIONONAIRTRAVELASTHISHOLDSKEYINFORMATIONWHICHRELATESTOTHECHANGINGSHAPEOFTHEHOSPITALITYSECTORBYTHEYEAR2010ALEXKYRIAKIDISGLOBALMANAGINGPARTNERTOURISM,HOSPITALITYFORINSTANCE,STARWOODWITHYAHOO,HYATTWITHEXPEDIAANDSOLMELIAWITHWARNERBROTHERSWHILETHEDEBATECONTINUESONWHETHERTHENONHOTELBRANDEDPRODUCTSTHATMAKEUPATYPICALGUESTSTAYADDTOORDETRACTFROMTHEHOTELBRANDITSELF,THEREISNODOUBTTHATSTRONGERBRANDSCANSTRETCHTHEMSELVESMOREEASILY,WHEREASWEAKERBRANDSCOULDSNAPTHEVIRGINGROUPISTHEOFTENQUOTEDEXAMPLEOFAFLEXIBLEBRAND,WHOSEATTRIBUTESAPPLYEQUALLYTOSECTORSASDIVERSEASMUSIC,AIRLINESANDTELEPHONES,SHOWINGHOWASTRONGBRANDCANADDVALUETOITSORIGINALPROPOSITIONTHISOPPORTUNITYTOEXTENDTHEMARKETINGREACHFURTHERREINFORCESTHEOVERALLMESSAGETHATASTRONGBRANDISAPREREQUISITEFORCONTINUEDSUCCESSINTHEHOSPITALITYSECTORBRANDMEASUREMENTASINALLBUSINESS,RIGOROUSMEASUREMENTISTHEONLYWAYTODEFINESUCCESS,YETARECENTBRANDMANAGEMENTSTUDYREVEALEDTHATLESSTHANONETHIRDOFALLCOMPANIESSURVEYEDHADANYKINDOFMEASUREMENTSYSTEMTOJUDGETHEPERFORMANCEOFTHEBRAND6IMPLEMENTINGABALANCEDSCORECARDACROSSTHEBUSINESSWILLMEASUREALLTHEDYNAMICSANDENABLETHECOMPANYTOBENCHMARKITSELFAGAINSTTHECOMPETITIONTHETABLEABOVEGIVESSOMEEXAMPLESOFMETRICSWECONSIDERSHOULDBEMEASUREDANDTRACKEDINCREASINGLY,THEBRANDWILLIMPACTTHEBOTTOMLINEANDDELIVERINGTHEBRANDPROMISEWILLENABLECOMPANIESTODIFFERENTIATETHEMSELVESINANEXTREMELYCOMPETITIVEMARKETACHIEVINGSUCCESSIN2010CUSTOMERSWILLEXPECTTHEBRANDPROMISETOCOVEREVERYINTERACTIONWITHTHEORGANISATIONPRESTAY,STAYANDPOSTSTAYIFTHEHOTELGETSITRIGHT,THEYCANEXPECTIMPROVEDCUSTOMERLOYALTYWITHASUBSEQUENTIMPACTONREVPARLOCATIONWILLTHENBELESSIMPORTANTASADRIVEROFCHOICEINMANYMARKETSAIRLINESHAVESHOWNTHEVALUEOFWELLSTRUCTUREDLOYALTYPROGRAMMES,BUTTHEMAJORHOSPITALITYPLAYERSHAVESOMEWAYTOGOTOACHIEVEMAXIMUMRETURNSONTHEIROWNSCHEMESRESEARCHSHOWSTHESEMUSTREFLECTCUSTOMERSWISHESTODAY,THEREISANEWBREEDOFCUSTOMERWHOISMOREINTERESTEDINTHEEXPERIENCEOFTRAVELHOTELS,PARTICULARLYATTHELUXURYENDOFTHEMARKET,HAVEANOPPORTUNITYTOSATISFYTHESENEWCUSTOMERSANDGENERATEGREATERDIFFERENTIATIONCONSISTENCYREMAINSTHESINGLEMOSTIMPORTANTFACTORINBRANDDELIVERYLIKEALLSUCCESSFULORGANISATIONS,HOTELSMUSTENSUREEVERYONEINTHEVALUECHAINDELIVERSTHEBRANDPROMISEEMPLOYEESPARTICULARLY,NEEDTOUNDERSTANDTHEIRPIVOTALROLE1YESAWICH,PEPPERDINE,BROWNTHEBUILDINGOFTHEWORLDSLARGESTHOTELTOWERTHEBURJDUBAIANDOFCOURSETHEPALMSJUMEIRAH,JEBELALIANDTHEWORLD914668HOSPITALITY201014/6/06824AMPAGE10HOSPITALITY2010EMERGINGMARKETSHOWEVER,THEREISROOMFOREXPANSIONATTHEAMOREPRESSINGCONCERNWILLBETHETHEREARESOMEGOODEXAMPLESINDUBAI,OTHERENDOFTHEMARKET,ANDLASTYEARINTERCONTINENTALHOTELSANNOUNCEDPLANSTOBUILD20EXPRESSBYHOLIDAYINNHOTELSACROSSTHEARABIANGULFINTHENEXTSEVENYEARSFIVEOFTHESEWILLBEINDUBAIANDACCORWHICHALREADYHASABUDGETCLASSHOTELINTHEREGIONISPLANNINGSEVENMORE16MOREMIDMARKETCHOICEASNEWMIDDLECLASSESEMERGEINTHESETHREEMARKETSCHINA,INDIAANDTHEGULFSTATESTHEREWILLBEASHIFTINDEMANDFORDIFFERENTTYPESOFHOTELROOMSMOREBUDGETANDMIDMARKETOPTIONSWILLBENEEDEDFORDOMESTICLEISUREANDBUSINESSTRAVELLERS,ANDMIDDLEINCOMEINBOUNDTOURISTSWILLSEEKRECRUITMENT,TRAININGANDRETENTIONOFLOCALSTAFFTOSERVETHESEEMERGINGMARKETSTHEREISLITTLETRADITIONOFHOTELMANAGEMENTTOBUILDONINTHESEREGIONS,ANDTHEREISTHEADDEDPROBLEMOFFINDINGENOUGHPEOPLETOFILLTHEVACANCIESEDUCATIONALANDTRAININGESTABLISHMENTSWILLBENEEDED,WHILELANGUAGE,RELIGIOUSTRADITIONSANDCULTURALDIFFERENCESMUSTBECONSIDEREDTHEOVERLYINGISSUEISTHEPARADOXOFTHEINTERNATIONALVERSUSLOCALBRAND,ANDHOTELCOMPANIESWILLNEEDTOTACKLETHISBEFORESUCCESSFULEXPANSIONCANBEGINWHERELUXURYHOTELSHAVETAKENINTOACCOUNTISLAMICREQUIREMENTSANDAREALCOHOL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