This report aims to present a conceivable development country for the Rocco Forte Hotel Collection. Because the company’s vision is to have one company in each key European city, this analysis also suggests the city as well as the country, namely Budapest in Hungary.
The current performance figures of the company are quite impressive. There has been rapid expansion over the last 10 years since the company was formed, mainly through acquisitions or by building new properties in important European cities.
The SWOT analysis shows that the company seems to be on the right track and apart from some inevitable threats, such as terrorism or strong competition in some markets, the company is well positioned to operate successfully in each market.
A PESTEL analysis of Budapest has shown that that city offers particularly high potential for investment generally but also for expansion of the luxury hotel market, as the demand for high-class accommodation is rising and the EU accession has been a catalyst for the growth efforts of the city, the region and the country generally.
Porter’s 5 forces framework demonstrated that competitive rivalry is of medium strength but that the capabilities of the Rocco Forte Hotel Collection should provide the company with an excellent gateway to compete successfully in this market.
A market entry strategy was proposed using Ansoff’s market and product expansion matrix and Tribe’s simplified version of Bowman’s strategy clock. The findings were that a limited diversification and differentiation-based strategy are the appropriate market entrance strategies.
The corporate legislation form should be as a Hungarian Limited Liability Company (equal to the British “Ltd”) and in terms of corporate finance the market entry should be achieved by acquisition of an appropriate property, or by building a new one in the right location.
After an examination of all factors, the author believes in the success of a new Rocco Forte Hotel in Budapest under given conditions.
Inhaltsverzeichnis (Table of Contents)
- 1. INTRODUCTION
- 1.1 AIMS AND OBJECTIVES
- 1.2 HISTORICAL BACKGROUND AND CURRENT OUTLOOK
- 1.3 INTRODUCTION OF THE CHAIRMAN
- 1.4 ORGANISATIONAL STRUCTURE
- 2. METHODOLOGY
- 2.1 DATA SOURCES
- 2.2 NATURE OF DATA
- 3. THE MICRO-ENVIRONMENT OF ROCCO FORTE HOTELS: A SWOT ANALYSIS
- 3.1 STRENGTHS
- 3.2 WEAKNESSES
- 3.3 OPPORTUNITIES
- 3.4 THREATS
- 4. THE MACRO-ENVIRONMENT OF THE BUDAPEST LUXURY HOTEL MARKET: A PESTEL ANALYSIS
- 4.1 KEY FACTS ABOUT BUDAPEST
- 4.2 PESTEL ANALYSIS OF BUDAPEST
- 5. A COMPETITION ANALYSIS OF THE BUDAPEST LUXURY HOTEL MARKET: PORTER'S FIVE FORCES
- 5.1 THE BARGAINING POWER OF SUPPLIERS - LOW
- 5.2 THE BARGAINING POWER OF BUYERS - LOW
- 5.3 THE THREAT OF NEW ENTRANTS - MEDIUM
- 5.4 THE THREAT OF SUBSTITUTE PRODUCTS - HIGH
- 5.5 THE INTENSITY OF COMPETITIVE RIVALRY - MEDIUM
- 5.6 SUMMARY
- 6. AN APPROPRIATE MARKET ENTRY STRATEGY FOR BUDAPEST
- 6.1 ANSOFF'S PRODUCT AND MARKET MATRIX EXPANSION GRID
- 6.2 TRIBE'S SIMPLIFIED STRATEGY CLOCK: THE MOST SUITABLE PRODUCT AND SERVICES
- 6.3 HOTEL EXPANSION: CORPORATE LEGISLATION AND CORPORATE FINANCE
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This report analyzes the feasibility of expanding the Rocco Forte Hotel Collection to Budapest, Hungary. The primary objective is to determine if Budapest presents a suitable location for a new Rocco Forte property, considering the company's existing strategy of establishing a presence in key European cities. The analysis uses various frameworks, including SWOT, PESTEL, and Porter's Five Forces, to assess the market's potential and competitive landscape. A proposed market entry strategy is also developed.
- Market analysis of the Budapest luxury hotel market
- Competitive analysis using Porter's Five Forces framework
- Assessment of the macroeconomic environment using PESTEL analysis
- Development of a suitable market entry strategy
- Evaluation of corporate legislation and finance options for market entry
Zusammenfassung der Kapitel (Chapter Summaries)
1. INTRODUCTION: This introductory chapter sets the stage for the report, outlining the aims and objectives of the study. It provides a brief historical overview of the Rocco Forte Hotel Collection, highlighting its expansion trajectory and current market position. The chapter introduces the company's organizational structure and its vision for expansion within key European cities. The rationale for selecting Budapest as a potential location is implicitly introduced, setting the context for the subsequent in-depth analyses.
2. METHODOLOGY: This chapter details the research methods employed in the report. It outlines the data sources utilized, specifying the nature of the data collected. This section provides transparency and allows the reader to critically evaluate the reliability and validity of the conclusions drawn later in the report. The methodological rigor is essential for establishing the credibility of the findings and recommendations.
3. THE MICRO-ENVIRONMENT OF ROCCO FORTE HOTELS: A SWOT ANALYSIS: This chapter conducts a SWOT analysis of the Rocco Forte Hotel Collection, examining its internal strengths and weaknesses, as well as external opportunities and threats. By analyzing these factors, the report assesses the company's competitive advantages and potential vulnerabilities. This internal analysis informs the subsequent assessments of the external environment and the overall feasibility of expansion into Budapest.
4. THE MACRO-ENVIRONMENT OF THE BUDAPEST LUXURY HOTEL MARKET: A PESTEL ANALYSIS: This chapter undertakes a PESTEL analysis of the Budapest luxury hotel market, evaluating the political, economic, social, technological, environmental, and legal factors that influence market conditions. The analysis identifies key characteristics of the Budapest market and examines its attractiveness for investment and expansion of luxury hotels. This macro-level analysis provides crucial contextual information for the subsequent competitive and market entry strategy analyses.
5. A COMPETITION ANALYSIS OF THE BUDAPEST LUXURY HOTEL MARKET: PORTER'S FIVE FORCES: This chapter employs Porter's Five Forces framework to analyze the competitive landscape of the Budapest luxury hotel market. The analysis examines the bargaining power of suppliers and buyers, the threat of new entrants and substitutes, and the intensity of competitive rivalry. This detailed competitive assessment helps determine the potential challenges and opportunities for Rocco Forte in the Budapest market and provides a basis for formulating an effective market entry strategy.
6. AN APPROPRIATE MARKET ENTRY STRATEGY FOR BUDAPEST: This chapter proposes an appropriate market entry strategy for Rocco Forte in Budapest using Ansoff's matrix and Tribe's simplified version of Bowman's strategy clock. The analysis identifies a suitable market entry strategy based on the findings of the previous chapters. It also addresses corporate legislation and finance options, including the legal structure and methods of acquisition or new property development. The chapter concludes by providing a reasoned justification for the proposed strategy, linking the recommendation to the prior assessments of the micro and macro environments.
Schlüsselwörter (Keywords)
Rocco Forte Hotel Collection, Budapest, Hungary, luxury hotel market, market entry strategy, SWOT analysis, PESTEL analysis, Porter's Five Forces, Ansoff matrix, Bowman's strategy clock, competitive analysis, market expansion, corporate finance, limited liability company.
Rocco Forte Hotel Collection Expansion into Budapest: FAQ
What is the main topic of this report?
This report analyzes the feasibility of expanding the Rocco Forte Hotel Collection to Budapest, Hungary. It investigates whether Budapest is a suitable location for a new Rocco Forte property, considering the company's existing strategy of focusing on key European cities.
What methodologies are used in this report?
The report utilizes several frameworks for its analysis, including SWOT analysis (to assess the internal and external factors affecting Rocco Forte), PESTEL analysis (to evaluate the macroeconomic environment in Budapest), and Porter's Five Forces (to analyze the competitive landscape of the Budapest luxury hotel market). Additionally, Ansoff's matrix and Tribe's simplified strategy clock are employed to determine a suitable market entry strategy.
What are the key objectives of the report?
The primary objective is to determine the suitability of Budapest as a location for a new Rocco Forte hotel. This involves a comprehensive market analysis, competitive analysis, and the development of a viable market entry strategy, considering relevant corporate legislation and finance options.
What aspects of the Budapest market are analyzed?
The report analyzes both the micro-environment (specifically Rocco Forte's internal strengths and weaknesses) and the macro-environment (the political, economic, social, technological, environmental, and legal factors impacting Budapest's luxury hotel market). A detailed competitive analysis using Porter's Five Forces is also included.
What is the structure of the report?
The report is structured as follows: Introduction (including aims, objectives, background, and organizational structure); Methodology (data sources and nature of data); Micro-environment analysis (SWOT analysis of Rocco Forte); Macro-environment analysis (PESTEL analysis of Budapest); Competitive analysis (Porter's Five Forces); and Market entry strategy (including Ansoff's matrix, Tribe's strategy clock, and corporate finance considerations).
What are the key findings and recommendations of the report (in brief)?
The report's findings and recommendations are based on the analyses conducted using the frameworks mentioned above. The final chapter proposes a specific market entry strategy for Rocco Forte in Budapest, justified by the prior assessments of market potential and competitive landscape. The specific strategy and its rationale are detailed in Chapter 6.
What key themes are explored in the report?
Key themes include market analysis of the Budapest luxury hotel market; competitive analysis using Porter's Five Forces; assessment of the macroeconomic environment via PESTEL analysis; development of a suitable market entry strategy; and evaluation of corporate legislation and finance options for successful market entry into Budapest.
What are the chapter summaries?
Each chapter provides a detailed analysis of a specific aspect: Chapter 1 introduces the study; Chapter 2 details the methodology; Chapters 3 and 4 analyze the micro and macro environments; Chapter 5 examines the competitive landscape; and Chapter 6 proposes a market entry strategy.
What keywords are associated with this report?
Keywords include: Rocco Forte Hotel Collection, Budapest, Hungary, luxury hotel market, market entry strategy, SWOT analysis, PESTEL analysis, Porter's Five Forces, Ansoff matrix, Bowman's strategy clock, competitive analysis, market expansion, corporate finance, limited liability company.
- Quote paper
- Johannes Landsperger (Author), 2007, The Rocco Forte Hotel Collection and a conceivable development strategy, Munich, GRIN Verlag, https://www.grin.com/document/131735
