A marketing plan to achieve a greater market share for W Hotel Singapore in the Conventions and Conferences sector.

Authors Avatar

WHOTEL

 SINGAPORE

Proposal:        A marketing plan to achieve a greater market share for W Hotel Singapore in the Conventions and Conferences sector.

By

                                        

                                                                Lim Hoay Min (Ms)

                                                                

Table of Contents

Contents                                                                                        Pages

Introduction                                                                                1

Marketing Plan                                                                        2

Market Overview                                                                2        

Target Market                                                                4

Discussion on the Weaknesses of W Hotel                        8

Conclusion                                                                                 10

Appendixes                                                                                

References                                                                                


Introduction

        W Hotel Singapore is part of an acclaimed International Chain of Hotels with many great hotels in various parts of the world, especially in the United States of America and Europe.

W Hotel Singapore is the first one of this chain in Singapore being opened only a year ago. Being a new player in the Lion City, the hotel has yet to reach maturity in market share especially so in the lucrative Convention and Conferences sector compared to its main competitors.

The downturn due to the economic slump in the world and especially in the South East Asian region has also not helped matters. The recent outbreak of SARS (Severe Acute Respiratory Syndrome) in the surrounding region has also dampened travel and mass functions. The resulting cancellations and curbs on Conventions, Conferences and mass functions have also depressed the market.

The recent war in Iraq also contributed to the downturn and suppressed market resulting in a meager market.

With the war over in Iraq and SARS under control in Singapore, we should see an improvement in this sector.

This proposal is an overview and a marketing plan for W Hotel Singapore to achieve a greater market share in the Conventions and Conferences sector in the next 12 months.


Marketing Plan

With the war over in Iraq and SARS under control in Singapore, tourists are beginning to flock back to Singapore. The exhibition sector, which contributes 1 billion dollars in added value to the Singapore economy annually, is also beginning to improve. The Singapore Government in a bid to stimulate the economy is also pumping 20 million dollars into this sector to encourage companies to hold conferences and conventions in Singapore. (NST 10 July 2003).

The regional battle against SARS is nearly won with all the affected countries taken off the WHO (World Health Organisation) list. This would once again encourage travel throughout the region. Singapore Airlines voted the best in three International polls on 15 July 2003 (Global Finance, Media Magazines, July 2003), also suffered a significant shortfall in traffic during the SARS outbreak. To encourage travel and also to restore traveler confidence, Singapore Airlines is offering substantial discounted airfare to Singapore.

These two main factors coupled with the cosmopolitan city centre as well as a shopping haven has made Singapore an ideal choice to hold conventions and conferences.

With all these factors we should see an improvement in the Convention and Conferences sector.

Market Overview

        A study of the hotel’s revenue for the year 2002 shows that conventions and banquet halls contributed to 25% of total revenue.

This does not include return business from delegates and their families. Research has shown that conventions guests utilize other hotel facilities and services. Convention business allows us to forecast advance booking and also fill the off-peak periods as they can be planned in advance.

Join now!

W Hotel is ideally located in the heartland of the financial and business districts, a 10 minute walk from SICEC (Singapore International Conference and Exhibition Centre). There are 5 primary competitors to the Hotel. These hotels are within a 1 kilometer radius of W Hotel itself. Market research on our competitors is accomplished through;

Ways to gather competitor information:

  1. Study of their brochures, which consist of information of packages and prices, which they are currently offering to their potential clients. From their brochure, we also managed to find out our competitor’s unique hotel products.
  2. We ...

This is a preview of the whole essay