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Transcript of Starwood Hotels
Frits van Paasschen is the President and Chief Executive Officer of Starwood Hotels and Resorts Worldwide, Incorporated
Product offerings that Starwood provides include: rooms, food, alcohol, and various services. Background Knowledge Starwood Hotels and Resorts Worldwide, Incorporated, began as an investment firm but became a realty acquisition company based in Chicago known as Starwood Capital Partners in 1991
Founder and Chief Executive Officer of Starwood, Barry Sternlicht tripled Starwood’s investor’s assets in less than two years by investing into properties for wealthy families and apartment complexes
In 1993 Starwood acquired the Westin Hotel Co. hotel chain for approximately $540 million History In 1997 Starwood announces an agreement to purchase ITT Sheraton Corporation for $14.3 billion Starwood is set to become a global enterprise
In 1998 The first W Hotel opens in December in New York City. W features casually elegant guest rooms and a hip, urban style.
In 1999 Starwood acquires Vistana, Inc., a vacation ownership company It later becomes Starwood Vacation Ownership, one of the most profitable segments of the company History External Analysis
-Macro Environment- Porter’s Five Forces Strategic Group Map Industry Attractiveness Mission Statement
Create the most successful branded, global, lifestyle hospitality company by ensuring that trust and respect, for our associates and guests, are at the forefront of everything we do.
We are committed to reconstructing our business with creativity and innovation, resulting in an exciting, fun workplace. Starwood Values Integrity and Compliance with the Law
Ethical Reporting and Use of Data Ethics Starwood company stresses interactions with people and advocate community partnerships. This enhances the company culture by adding a purpose to the repertoire.
Habitat for Humanity
Ronald McDonald House
UNICEF Social Responsibility The Board of Directors
Corporate Governance Problems Corporate Governance Financial Analysis SWOT Analysis Strengths Opportunities Threats Differentiation – strategic position based on products or offers services with quality , reliability, or prestige that is discernibly higher than that of competitors and for which customers are willing to pay. Strategy for competing against rivals within a particular industry Business Strategy-Positioning Differentiation Strategy Drivers Strategy for guiding a firm’s entry and exit from different businesses, for determining how a parent company adds value to and manages its portfolio of businesses, and for creating value through diversification. Corporate-Level Strategy Strategy SWOT Match Evaluation of Effectiveness of Strategy Recommendations Questions Industry size - the hotels and motels industry generated $126.6 billion last year
The hotels and motels industry is in the mature stage of the life cycle. This is due to the continuing growth in the domestic travel and business travel, online booking, international travel, and increased product segmentation.
Number of competitors - 41,008 businesses were in the hotels and motels industry.
Customers include: personal or family travelers, business travelers, conference travelers, and vacation travelers. Approximately 650 million people Industry Life Cycle Industry Growth Rate - Although the hotel and motel industry experienced declines in 2009, the industry is expected to grow at a rate of 0.2%.
Technology/Innovation - In the hotels and motels industry, technological change is medium. Technology is generally used for communication, buying supplies online, and for providing users access to computerized reservation and booking systems.
Product Characteristics - The products offered in the hotels and motels industry include: rooms, food, alcohol, and various services. Industry Life Cycle Economic Moat
Motel 6 Economy Midscale Holiday Inn
Ramada Inn Luxury Marriott
Sheraton Amenities Offered Generated Revenue Strategic Group Map