the park hyatt
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“Your Guilty Pleasure”. The Park Hyatt. Stephanie Pavey. Overview. Secondary Research. The Millennial Generation. greatest improvements in financial standing over the past three years over 50% reporting improvement . greatest planned increases in overall spending - PowerPoint PPT PresentationTRANSCRIPT
The Park HyattStephanie Pavey
“Your Guilty Pleasure”
Overview
Secondary ResearchThe Millennial
Generation• greatest improvements in financial
standing over the past three years• over 50% reporting improvement.
• greatest planned increases in overall spending
• desire to attain and reflect status
Millennials’ enthusiasm over their financial
improvement remained despite high youth
unemployment rates.
Secondary ResearchLuxury Travel
• Emerging markets are expected to be key drivers of global luxury travel growth over the next five years
• Growing demand from business and leisure travelers
• Luxury hotels had highest value sales in 2012• strong economic performance • return of investment.
• Middle class consumers with disposable income• Boost demand for luxury hotels
worldwide.
The middle class consumer base is worth US$6.9 trillion
in annual spending.
Secondary Research Competitors
• Total value sale for luxury hotels $57 billion US dollars.
• Intercontinental hotels and resorts lead luxury brands.
• Shangri-La recorded the strongest value sales growth in 2012, 13%,• Ritz-Carlton, 7%• Sofitel, 5%
Secondary ResearchSocial Media and Tech • Increasingly important• engagement, feedback, loyalty.
• 72% of the wealthy are active Facebook members• increasingly use Twitter.
• Luxury travelers at forefront of technological innovations
“The dynamics of luxury travel have changed worldwide to welcome a younger consumer base, who prefer
brands with a voice and personality. “
Primary Research
•Age range 18-39• 26% Male• 74% Female
Primary ResearchWhat do you look for when booking a
hotel?
Primary ResearchHave you stayed at a Hyatt hotel? If so, what was your
experience like? If not, why?
Primary ResearchOne-on-One Interviews
• “I would spend the extra money if it was specific amenities that I would use for myself.”
• “Usually, when looking for a hotel I look to find one that is closest to the points of interest that I am visiting. Often times I do not even look at the hotel. “
• “I want it to feel like home. I like a spa, art and nice furniture that helps me to feel comfortable.”
• “ If I am at a hotel, I want the treatment. I like having room service, a spa and I like it to feel glamorous. “
Location
Clean
Amenities
QualityLook
Reviews
ServiceReputatio
n
Quiet
SWOT AnalysisStrengths Weaknesses
Opportunities Threats
• High brand awareness• World Renowned food and
chefs• Smaller in size
• Personalized• Modern• Attention to detail
• Tends to attract older audience
• Not accessible to the masses
• “Home away from home”• Negative Social Media
Presence
• Add more locations• Utilize social media
• Show target audience that the Hyatt is for them
• Cheaper prices offered by competitors
• Lack of awareness/young brand
• Too geared toward the business traveler
• Not enough new faces; only return customers
•The generation of “emerging aristocracy” is unaware of the multiple benefits that The Park Hyatt has in order to satisfy every indulgence they may have.
Problem:
Consumer Insight
• If men and women ages 18-39 knew that the Park Hyatt’s central locations allowed them to experience everything a city had to offer, they would be inclined to choose the Park Hyatt for a leisure getaway.
•Run in the summer, starting June 1, 2014•12 Week run•Focusing on Chicago as the primary location
Time Frame
• sophisticated, educated, fashionable and influential • men and women ranging from age 18-39. • travel an average of 1-2 times per year for leisure. • HHI of $75,000 + • willing to spend between up to $2500 on a weekend getaway. • interest in amenities, local attractions and shopping • appreciate feeling like their accommodations are personalized and
unique • exceptional customer service.
Media PlanTarget Audience
Media PlanPrint: Magazines
Vanity Fair
• One-page advertisement • Four color• Three consecutive issues • Total around $192,156.
Media PlanPrint: Magazines
GQ
• One-page advertisement • Four color• Three consecutive issues • Total around $164,023.
Media PlanPrint: Magazines
W Magazine
• One-page advertisement • Four color• Three consecutive issues • Total around $107,869.
Media PlanDigital Media
Google• Daily budget of $60.00. • Pay Per Click campaign • Total around $1,800/month.
Media PlanDigital Media
Pandora Radio• three months
• will run across Pandora as a pop-up ad • 287,910 times for a total of
$5,755.
Media PlanDigital Media
Hulu• Designate a total budget of
$54,000 • Average of $18,000 per
month.
Media PlanDigital MediaExpedia/
Hotels.com• TravelAds • Monthly retainer of $30,000. • Pay Per Click Campaign • will run on both sites until the
designated budget is utilized.
Media PlanDigital Media
Youtube• Mid-July, $300,000
homepage ad for 24 hours. • $5,000/month budget with
$.30 being deducted per view.
Media PlanDigital Media
GQ/Vanilty Fair Online
• Three digital issues of both GQ and Vanity Fair • $43,650 per issue.
Media PlanDigital Media
• $100/day CPM in Facebook advertisements • totaling $3,000/moth.
Media PlanDigital Media
Twitter• Not only consist of ads • Also designate $8,250 (half of
the designated budget) to promoting the Park Hyatt account • Park Hyatt promotional tweets.
Media PlanPromotional
Twitter• Contest for the best “Chicago Culture” tweet. • Photo, tagline or any other creative idea from a
follower. • The campaign will last one month • Winner will receive a weekend at the Park Hyatt
Chicago with a guest • Includes two free nights, a giftcard for Nomi,
$500 “fun money” and two cubs tickets (airfare included if necessary).
• This will total around $2,700.
Media PlanSponsorships
Chicago Cubs
• $500,000 sponsorship• Will include signage and hospitality
efforts.• Relevant during the Summer
months
Media PlanSponsorships
Southwest Airlines
• Sponsor of the Chicago Cubs • Partnering with an airline will ensure
that those traveling via Southwest will always check Park Hyatt first.
Media PlanOut of Home
Chicago Transit Authority
• Estimated cost of $345,000 for a three month campaign • Includes bus stops, train stops and
transit systems throughout the city.
Media Plan
Creative: Video Ad
Creative: Print Ad
Creative: Print Ad
Creative: Web Ad
Creative: CTA Ad
Objectives:• 10,000 entries into the Guilty Pleasure contest• 20,000 likes on the Park Hyatt Facebook page• 25,000 new followers on the Park Hyatt Twitter
• Increase first time stays by 7%• Increase brand awareness by 20%