Le Parker Meridien 119 West 56 Street, NY,NY 10019 Senior Project By : Summet Parmar, Elizabeth Jaquez-Flores, Brunnel

1. Le Parker Meridien 119 West 56 Street, NY,NY 10019 Senior Project By : Summet Parmar, Elizabeth Jaquez-Flores, Brunnel Milard, Prashant Purohit In Guidance of Prof. : Iatauro Bernard

2. History of Hospitality Industries • Hospitality from the French word “Hospice” • To provide for the weary • To take care of Traveling • Overview: The history of the hospitality industry dates all the way back to the colonial period in the late 1700s. Things have changed quite a bit since then; The hospitality industry has experienced significant changes and development over the years as it has faced world wars, The depressions era and various social changes. The industry as we know it today began to take from in the early 1950s and 60s.

3. Time line of Hospitality Industry • Sumerians(2500 BC) “House of the go far people” • Code of Hammurabi (1792- 1750 BC) • Caravanseri “Caravan “ (Persia 200 BC) • Hotel in Olympus for visitor of the Olympic games (4th Century B.C)

4. Cyclical history of hotel in America Time Line Graphical Presentation • Early America 1600-1920 • WWI 1910 • Golden Age 1920 • Depression 1930 • Motel Age 1950 • Growth 1960-1970 • Recession 1980 • Recovery 1990 • 9-11 …….

5. Jack Parker Corp’s History • The Jack Parker Corporation was founded in 1955 by Jack Parker. • Company was first founded as family owned business and still remains as a privately owned real estate development company. • Company manages a portfolio that includes more than 15,000 residences of luxurious high-rise rental, condominiums, and single family homes throughout the Northeast and Florida in the United States.

6. Jack Parker & Le Parker’s History • Le Parker Meridian was first founded in 1981 as part of Le Meridian Hotel and Resort chain. • It has been sold and purchased over twenty different times by Japanese and British firms. The birth of Le Parker Meridian goes back to the origins of Le Parker Hotels and Resorts back in 1972. • Le Meridian Hotels and Resort was first established by Air France. Le Meridian Hotels is an international European hotel chain with headquarters in United Kingdom.

7. Jack Parker Corp’s History • The first Le Meridian property was opened in Paris, France as one thousand rooms’ hotel. As of November 2004, Le Meridian is owned by Starwood Hotels and Resorts. • Le Parker Meridian was acquired by The Jack Parker Corporation in 1992. After the purchased, Le Meridian became Le Parker Meridian. In 2001. • After the purchased, Le Meridian became Le Parker Meridian. In 2001, another branch was opened in Palm Springs, California.

8. Le Parker’s Mission “Our mission is to exceed the expectations of our guests, inspire and reward our associates and provide superior financial results to those who entrust us with managing their assets,” Le Parker Meridian Corporate site, 2009

9. Le Parker’s Vision • “[We pledge] to provide a deluxe personal service to our guests providing the sense of warmth and privacy. We will understand the needs of guests and associates, to consistently surpass their expectations by delivering relax yet luxurious aspects of our facilities,” Le Parker Meridian Corporate site, 2009

10. Environmental Analysis • Environmental conditions affect Businesses in many ways. We are discussing following Forces which can effect Le Parker one or another way: Economic Social Cultural Technological Political Global

11. Environmental Analysis • Economic factor : The economic Factor are always effect on any type of businesses any time and also environment reflects standards and general well being of a society.

12. Environmental Analysis The graph below indicates that airlines and hotels are the severely affected after 9-11 attack.

13. Environmental Analysis • The social factor: The social environment plays a critical function within the environmental conditions. Social change, by definition, comprises demographic and life style trends.

14. Environmental Analysis • The cultural factor The United States of America is a country that is rich in history and culture. Only in NY it self 250 languages are spoken.

15. Environmental Analysis • The Technological factor Today no business can operate effectively without having a full knowledge of its industry market trend. The technology plays an indispensable role in the business operations of any type of industry.

16. Environmental Analysis • The global factor Globalization is defined as the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.

17. Environmental Analysis • The political factor This factor always plays a pre-dominant importance in the economic function and behavior of a society of every country in the world. Thus, the economic stability or instability of a country is the result of its form of government or political establishment.

18. Environmental Analysis • An Industry Environment This industry environment is referred to as the competitive environment or the task environment by definition. More than ever, as technology changes the way people think and live, the hotel industry leaders will assert their role more aggressively by acknowledging the impact of the environment conditions on the hotel industry in order to remain competitive and survive in this ever-changing economy.

20. Approximate Room Rates by Month

21. Approximate Revenue by Month

22. SWOT Strengths • Location • Food Business • Low Employee turnover rate • Collecting new customers feedback

23. Panoramic View of New York City

24. Isn’t it Perfect Vacation?

25. SWOT Weaknesses • Don’t take into consideration outside customers reviews • Underutilized resources • Frequent change of Management • Lack of Advertising • Website is not user friendly

27. SWOT Opportunities • Available resources in premises to start new ventures • Emerging international markets • New packages for lower or middle class customers

28. SWOT Threads • Intensive Competition • Economic slowdown • Changing local government regulations puts them on the spot

31. Market Segment Parker Meridian main market segment are: • Business, • Celebrity, • and European travelers .

32. Market Statergy • Enhancement and Revitalization Project The Parker Meridian press release reported that the arrival of Norma’s breakfast restaurant in 1998 quickly gained awards and praise as the best breakfast in New York.

33. Market Statergy • The Parker Meridian goes ergonomic The hotel management made a conscious effort to renovate all hotel rooms ergonomically with improved lighting, cordless phones next the beds, convenient workstations equipped with all needed accessories and comfortable chairs

34. Recommendations • Location • Design family oriented packages. Ex. Walking tour of Central Park. • Economic Slowdown • Design affordable packages targeting lower-middle class. • Website not user friendly • Design a new web page.

35. Recommendations Advertisement of the Business • Use location and food businesses as focus of advertisement • Intensify advertisement two months prior to slow season to attract local clientele • Collaborate with local companies • Become more aggressive • Include advertisement in sales literature

36. Doesn’t it perfect to propose to your Valentine?

37. Recommendations • Underutilized resources Develop system to keep statistical data like annual occupancy, Rates and Prices • New Customer feedback & Take into consideration outside reviews • Use their customer reviews wisely to improve satisfaction rate to outcome weaknesses • Use major travel sources like Starwood, AAA, etc.

38. Recommendations • Underutilized resources • Start using rooftop/ top conference room to serve dinner as an extension of Norma’s. By reference only • Available resources on premises to start new ventures • Start food festival of European month in one of the restaurant

39. Doesn’t it perfect to propose to your Valentine?

40. Recommendations • Underutilized resources • Start using rooftop/ top conference room to serve dinner as an extension of Norma’s. By reference only • Available resources on premises to start new ventures • Start food festival of European month in one of the restaurant

41. State of the Art Health Equipments

42. More then perfect Location for your Business Meeting