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

Senior Project By : Summet Parmar, Elizabeth Jaquez-Flores, Brunnel Milard, Prashant

Purohit

In Guidance of Prof. : Iatauro Bernard

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

Overview: The history of the hospitality industry dates all the way

back to the colonial period in the late 1700s. 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.

History of Hospitality Industries

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)

Time line of Hospitality Industry

Cyclical history of hotel in America

Time LineEarly America 1600-

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

Graphical Presentation

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 Corp’s History

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

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

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

Jack Parker & Le Parker’s History

The first Le Meridian property was opened in Paris, France as one thousand rooms’ hotel. As of November 2004, Le Meridian is owned by Starwood Hotels and Resorts.

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

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

Jack Parker Corp’s History

“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 Meridian 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 Meridian Corporate site, 2009

Le Parker’s Vision

Environmental conditions affect Businesses in many ways. We are discussing following Forces which can effect Le Parker one or another way:Economic SocialCulturalTechnologicalPoliticalGlobal

Environmental Analysis

Economic factor :

The economic Factor are always effect on any type of businesses any time and also environment reflects standards and general well being of a society.

Environmental Analysis

Other Transportation

Restaurants

Communication

Securities

Hotel

Air Line Industries

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$ Billions

$ Billions

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

The social factor:

The social environment plays a critical function within the environmental conditions. Social change, by definition, comprises demographic and life style trends.

Environmental Analysis

Environmental AnalysisThe cultural factor

The United States of America is a country that is rich in history and culture. Only in NY it self 250 languages are spoken.

The Technological factor

Today no business can operate effectively without having a full knowledge of its industry market trend. The technology plays an indispensable role in the business operations of any type of industry.

Environmental Analysis

The global factor

Globalization is defined as the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.

Environmental Analysis

The political factor

This factor always plays 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.

Environmental Analysis

An Industry EnvironmentThis industry environment is referred to as the competitive environment or the task environment by definition.

More than ever, as technology changes the way people think and live, the hotel industry leaders will assert their role more aggressively by acknowledging the impact of the environment conditions on the hotel industry in order to remain competitive and survive in this ever-changing economy.

Environmental Analysis

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SWOTStrengths

LocationFood BusinessLow Employee turnover rateCollecting new customers feedback

Panoramic View of New York City

Isn’t it Perfect Vacation?

SWOTWeaknessesDon’t take into consideration outside customers reviews

Underutilized resourcesFrequent change of Management

Lack of AdvertisingWebsite is not user friendly

Leparker's Customer's Review

Like it/

Total Reviews : 191

Do not like/ Percentage

No 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

SWOTOpportunitiesAvailable resources in premises to start new ventures

Emerging international markets

New packages for lower or middle class customers

SWOTThreadsIntensive CompetitionEconomic slowdownChanging local government regulations puts them on the spot

Essex House's Customer's Review

Like it

Total Reviews : 201

Do not like/ Percentage

No Complains Complain(s)

Category of Customer

Business Class 40 4 10

Romance 62 5 8

Family Vacation 22 0 100

With Friend 18 0 100

All Other Type 59 5 8

201 14 7

Four Season's Customer's Review

Like it/

Total Reviews : 227

Do not like/ Percentage

No Complains Complain(s)

Category of Customer

Business Class 227 10 4

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 4

Parker Meridian main market segment are:

Business, Celebrity, and European travelers .

Market Segment

Enhancement and Revitalization Project

The Parker Meridian 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 Statergy

The Parker Meridian 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 Statergy

LocationDesign family oriented packages. Ex. Walking

tour of Central Park.Economic Slowdown

Design affordable packages targeting lower-middle class.

Website not user friendlyDesign a new 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 aggressiveInclude advertisement in sales literature

Recommendations

Doesn’t it perfect to propose to your Valentine?

Underutilized resourcesDevelop system to keep statistical data like

annual occupancy, Rates and PricesNew Customer feedback & Take into

consideration outside reviewsUse their customer reviews wisely to improve

satisfaction rate to outcome weaknessesUse major travel sources like Starwood,

AAA, etc.

Recommendations

Underutilized resourcesStart using rooftop/ top conference room to

serve dinner as an extension of Norma’s. By reference only

Available resources on premises to start new ventures

Start food festival of European month in one of the restaurant

Recommendations

Doesn’t it perfect to propose to your Valentine?

Underutilized resourcesStart using rooftop/ top conference room to

serve dinner as an extension of Norma’s. By reference only

Available resources on premises to start new ventures

Start food festival of European month in one of the restaurant

Recommendations

State of the Art Health Equipments

More then perfect Location for your Business Meeting