Monitoring the Highly Complex Global Hospitality Market to Seize Tactical and Strategic Opportunities
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Background
A global hospitality company was facing an increasingly fragmented market with new entrants as well as established competitors with many different brands. To continuously monitor the moves of these many competitors and brands in rapidly evolving markets around the world, the hospitality company turned to Fuld & Company. As a result of our ongoing, continuous monitoring of 35 competing brands, the client now has a ready repository of constantly refreshed competitive intelligence on which to base tactical and strategic moves.
Challenge
The client operates a number of strong, traditional hospitality brands aimed at various segments of the market. Each of those brands faces numerous competitors in its segment, and a number of those segments had begun to be disrupted by new entrants. In addition, this already complex market was further complicated by a number of macro trends, including the lingering effects of the worldwide recession, aging populations, changing spending habits, and rising airline prices.
The challenges of monitoring on this scale were significant. They included:
- Initially building the baseline data for scores of competing brands
- Continually monitoring those brands globally and by region
- Identifying global and regional differentiators for each brand
- Providing coverage of such issues as brand activity and strategy, as well as a broad spectrum of operating areas from food and beverages to lobbies to guest rooms
- Executing numerous ad hoc investigations requested by the client
Approach
The challenges of monitoring on this scale were significant. They included: Initially building the baseline data for scores of competing brands Continually monitoring those brands globally and by region Identifying global and regional differentiators for each brand Providing coverage of such issues as brand activity and strategy, as well as a broad spectrum of operating areas from food and beverages to lobbies to guest rooms Executing numerous ad hoc investigations requested by the client.
Result + Benefits
As a result our work, the client now has readily available, up-to-date intelligence on each of its competitors in all of its market segments. They can draw on this intelligence for short-term tactical moves as well as for long-term strategic planning. In addition, the ongoing monitoring provides the foundation for the operations of the company’s internal competitive intelligence (CI) unit, which works with the brand teams to leverage this powerful information resource.
Download PDFTags: Competitive Intelligence, Early Warning & Monitoring, Growth Analytics, New Entrant Strategy, Other Industries, Travel & Leisure
