pariso resort som 301 final
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Pariso ResortSchool of Management 301-003
Team MasonMohamud AdenMinh HuynhLuis GuillenRyan WilsonThang NguyenNhung Do
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Pariso Resort – Mission Statement
“Developing long term financial success through the innovation of tourism and providing our customers with the unforgettable vacation experience of a lifetime”
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OpeningPurpose: Help stimulate economic growth in Costa Rica while providing substantial financial returns for investors
Problem: Costa Rica currently suffers from a reduction in tourism which is a 68% of Gross Domestic Product
Need: New attraction that reintroduces Costa Rica to its former tourist volume
Solution: Pariso Resort, a tourist attraction and vacation experience unlike anything else
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Costa Rica – Cultural Profile•People
• Large European population• Spain primary origin country• 10%-15% Nicaraguan• 3% Jamaican immigrant • Non materialistic lifestyle• Often only one car per family• Rely on bus for transportation
•Language• Mainly Spanish• Secondary English
Remax, www.tamarindochris.com, Costa Rica Real Estate
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Costa Rica – Cultural Profile•Government
• Democratic Republic• Constitutional checks and balances• No military, only:
• Domestic security• Police
• Very strict laws • Alcohol• Drunk driving
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Costa Rica – Cultural Profile•Social
• One of best and safest places to live• Unique dress codes – often similar to U.S• Entertainment
• Music• Dance• Sport • Movies
• Friendly• Costa Ricans known as “TICOS”• Welcome visitors• Identified as “Pura Vida” – “People full of happy life”
• Mainly Catholic• Freedom of religion
• Multicultural society• High standards of life and education
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Solution – Pariso Resort•Seaside resort•Key attraction – Private beach•Entertainment
• Indoor/outdoor swimming pools• Scuba diving• Casino• Various recreational sports (Large Golf course)• Night life attractions
•Services• Spa• Fitness• Training sessions• Certifications• Fine dining
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Solution – Pariso Resort•Benefits
• Potential for great investor returns• Competitive • Multiple sources of revenue• Strong demand for accommodations in tourism industry• Attractions for wide variety of tourists
• Designed to fully occupied year round
Equal Housing Opportunity, Property Counselors Management Group, pcmgonline.com
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Operational Structure•Top: Functional Structure•Divisional Structure•More Formal Structure at Top•Divisional Structure Helps Company Adjust to Change in Market•Employees are Job Focused •Help Meet Customer Needs
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Food and Beverage
Lodging
Business Developme
nt
Operations
Planning and
Development
Events and
Scheduling
Culinary
Finance
PE Security
Board of Directors
CEO
Payroll
HR
Accounting
Advertising
New Market
Area
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Board Of Directors
CEO
Departments
Divisions
Management Team
Employees
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Board of Directors•Appointed By Investors•Approve All Pay for Employees•Set Policies•Approve all Financial Decisions•13 Directors•Set own Salaries
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CEO
Reports Directly to Board
Manages Company Departments
Oversees Major Operations of Company
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Departments•Four Major Departments•Closer interactions with Customers•More Flexible to Change in Market•Business Development•Planning and Development•Finance•Operations
Stock Illustration Source, Illustration Source, www.illustrationsorce.com/stock
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Divisions•Managers Report to Head of Departments•Overall Operations of Hotel•Centralized Focus on Division Goals•Competition Among Divisions•Closer Customer Focus•Employees Specialize in Job
Base Block Software, www.baseblock.com
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Financial InformationInitial Costs
Const
ruct
ion
Insp
ectio
n
Supe
rvisio
n
Admin
istrat
ion
Real E
stat
e Ta
x
Publ
ic R
egistry
Tax
Engin
eer D
esig
ns
Real E
stat
e
Insu
ranc
e
Tota
l Cos
ts$0
$4,000,000
$8,000,000
$12,000,000
$16,000,000
$20,000,000
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Financial InformationProjected Yearly Costs
Year 1 Year 2 Year 3 Year 4 Year 5 $-
$1,000,000.00
$2,000,000.00
$3,000,000.00
$4,000,000.00
$5,000,000.00
$6,000,000.00
$7,000,000.00
$8,000,000.00
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Year 1 Year 2 Year 3 Year 4 Year 5 $-
$5,000,000.00
$10,000,000.00
$15,000,000.00
$20,000,000.00
$25,000,000.00
Financial InformationProjected Yearly Revenues
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Financial InformationProjected Yearly Profits
Year 1 Year 2 Year 3 Year 4 Year 5 $-
$2,000,000.00
$4,000,000.00
$6,000,000.00
$8,000,000.00
$10,000,000.00
$12,000,000.00
$14,000,000.00
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Marketing
Marketing
•Marketing mediums• Television – U.S, Canada, Europe• Radio – Costa Rica, U.S, Canada• Billboard – Costa Rica, U.S, Canada, Europe• Bus side advertising – Costa Rica, Europe• Online advertising – U.S
• FaceBook• Google• Yahoo• Twitter
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Strengths
Weaknesses
Opportunities
Threats
SWOT
Marketing•Target markets
• Costa Rican locals• U.S tourists• Canadian tourists• European tourists
•SWOT Analysis• Strengths
• Competitive Pricing• Potential for great profits
• Weaknesses• New business• Initial investments
• Opportunities• Expansion
• Threats• Other popular resort areas• Other new entries in resort business
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MarketingProduct, Price, Place, Promotion
•Product• Unique resort experience
•Price• Competitive pricing• Customer incentives• Beat any comparable resort price by 5%
•Place• Along Caribbean in the city of Puerto Rimon
•Promotion• 5% new customer discount• Loyalty program – 5% cash back on future stays• Transfer customer program – 2 free VIP passes• Referral program – 10% off referrer entire stay
Product
Price
Place
Promotion
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LimitationsBuilding Codes
•Construction permit - licensed architect or engineer•No construction in public zone
• Restricted zone limited to three stories• Intermediate zone – up to five stories• Internal zone – up to eight stories
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LimitationsEntry Requirments
•Tourists from certain countries – 90 day stay without visa•Tourists from other countries – 30 day stay without visa•All other tourists must obtain visa from Costa Rican Embassy
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•Questions?
•Please contact for further information no later than 05/07/2011
•Contact Information• Ryan Wilson – [email protected]• Cell - (703) 123-4567
For More Information
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ReferencesBackground Note: Costa Rica. (2011, February 10). Retrieved April 12, 2011, from U.S Department of State: http://www.state.gov/r/pa/ei/bgn/2019.htm Bainbridge, R. (2010). Retirement Costa Rica. Retrieved April 8, 2011, from Bargain Real Estate in Costa Rica: http://www.retirement-costa-rica.com/bargain-real-estate-in-costa-rica/index.php Business by the numbers: Hotel revenue. (2011, February 7). Retrieved April 8, 2011, from San Marcos Mercury: http://smmercury.com/17722/business-by-the-numbers-hotel-revenue/ Costa Rica. (2010). Retrieved March 15, 2011, from Costa Rica: http://www.costarica.com/business/numbers-&- statistics/salary/ Costa Rica. (2010). Retrieved April 11, 2011, from Costa Rica: http://www.costarica.com/real-estate/information/building-a-house/the-building-process/ Costa Rica Real Estate Service. (2010). Retrieved April 11, 2011, from Buying or Building Your Costa Rican Dream Home: http://www.costaricarealestateservice.com/resource_center/dreamhome.asp Costa Rica Travel Tips. (2002). Retrieved April 12, 2011, from Costa Rica - Ecotourism: http://www.costarica- ecotourism.com/Costa-Rica-Travel/traveltips.htm
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References Cont.Gamage, P. (2010, june 10th). Costa Rica Culture. Retrieved April 20th, 2011, from Tourism info: http://www.tourism.co.cr/costa-rica-art-and-culture/costa-rica-cultural-heritage/costa-rica-culture.html Grewal, D. (2007). Marketing. New York: McGraw/Irwin. Heizer, J., & Render, B. (2011). Operations Management. Upper Saddle River, New Jersey: Pearson Education Inc. Hotel Online. (2010). Retrieved April 8, 2011, from Hotel Insurance Expense: Minor Cost, Major Concern; : http://www.hotel-online.com/News/PR2005_2nd/Jun05_InsuranceExpense.html Hotel Online. (2010). Retrieved April 8, 2011, from Hotel Maintenance Creep: Nuts, Bolts, and Bodies : http://www.hotel-online.com/News/PR2006_3rd/Aug06_HotelMaint.html Lytle, T. (2011). Labor Laws and Policy - Costa Rica. Retrieved March 15, 2011, from The REAL Costa Rica: http://www.therealcostarica.com/costa_rica_business/costa_rica_labor_law.html Minimum Wage In Costa Rica To Rise 2.63% On January. (2010, October 22). Retrieved March 15, 2011, from Insidecostarica: http://www.insidecostarica.com/dailynews/2010/october/22/costarica10102204.htm
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References Cont.New Law Regulates Coastal Development in Guanacaste, Costa Rica. (2010, April 10). Retrieved April 12, 2011, from costaricapages: http://www.costaricapages.com/blog/business/guanacaste-land-regulations/829 Petersen, R. A. (n.d.). The Legal Guide to Costa Rica. Retrieved April 12, 2011, from infocostarica:
http://www.infocostarica.com/legal/buying3.html Weaver, D. B. (1999, September 10). Magnitude of ecotourism in Costa Rica and Kenya. Retrieved April 20, 2011, from Science Direct: http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6V7Y-3XCFMTV-3&_user=650615&_coverDate=10%2F31%2F1999&_rdoc=1&_fmt=high&_orig=gateway&_origin=gateway&_sort=d&_docanchor=&view=c&_acct=C000035118&_version=1&_urlVersion=0&_userid=650615&md5=8868d66