Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points by Sheraton, Aloft and Element. Starwood Hotels & Resorts Worldwide was founded by Barry Stuart Sternlicht in 1980 and is headquartered in Stamford, CT. The company recorded an annual turnover of 6.2 billion and employs approximately 181,400 employees in its numerous properties around the world. The hospitality sector is comprised of high-end brands like Sheraton, Westin, Le Meridian, Aloft and Four Points and includes more than 1200 properties around the globe under its 11 brands.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Starwood Hotels & Resorts.
Starwood Hotels & Resorts At A Glance – Starwood Hotels SWOT Analysis
Company: Marriott International
Founders: Barry Sternlicht
Year of establishment: 1980
CEO: Raul Leal
Headquarters: Stamford, Connecticut, United States
Employees (Dec 2020): 188,000
Ticker Symbol: HOT
Annual Revenue (Dec 2020): US$1.2 Billion
Profit net income (Dec 2020): US$474 Million
Products & Services: Hotels | Resorts | Spas | Residences
Company Website: www.marriott.com
Top Starwood Hotels & Resorts Competitors
Competitors: Wyndham Worldwide | Marriott International | InterContinental Hotels | Hyatt and Marriott | Westin Hotels & Resorts | Accor Hotels
Starwood Hotels & Resorts SWOT Analysis – SWOT Analysis Starwood Hotels & Resorts
SWOT Analysis Of Ponds analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Ponds SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Ponds SWOT Analysis. Below Is The Detailed SWOT Analysis Of Ponds.
Starwood Hotels & Resorts Strengths – Starwood Hotels SWOT Analysis
1. People-centric: Starwood Hotels has always been a business that values people and whether that’s customers or employees, it has placed them at the center of their plans. The focus on people has helped their services more customer-centric and their quality of their service is top-notch across all their properties.
2. Capability to meet the customer segments: The target segment of the hotel chain is young people in the high income range. With a technologically driven and touch-centric strategy the hotel has developed strategies to increase the level of engagement and satisfaction of the customers.
3. Technology: Hotels need to look beyond clean rooms as well as good food and a pleasant ambiance to attract clients. Hotels are increasingly looking to technology to enhance the level of service. The hotel has put money into business analytics as well as big data that helps them to predict the habits and preferences of their customer base.
4. Customer loyalty programs: Sub-brands of Starwood Hotels & Resorts such as Marriott as well as Le Meridian have the Starwood Loyalty program that accrues loyalty points from regular customers on their travels. They can then be used to gain numerous benefits, such as room upgrading, free stay or meals that are personalized to your preferences. These programs have proven to build a loyal customer base.
5. Customized solutions: The hotel chain has always provided individualized services to guests. These include keys-free entry using Bluetooth equipped technology. customized menus that include dishes of the preferences, room ambience such as lighting, scent and the color depending on the customers preferences, etc. are just some of the features that are part of personalization services.
6. Smart Logistics: UPS has its name on its credit the International Shipment Processing System which utilizes methods like scans that are smart, in real time, tracking of delivery as well as logistics scheduling and more.
7. Concentrate On Supply chain as well as freight: UPS purchased Coyote recently. This acquisition has allowed the company expand their operations in the supply chain, and to enhance their strategies for managing freight.
Starwood Hotels & Resorts Weaknesses – Starwood Hotels SWOT Analysis
1. Plans for expansion: Starwood Hotels has been expanding rapidly to cover all corners of the globe. The expansion plans aren’t only eating into their budgets of chain, but are also hindering its potential because of competition that is cheaper.
2. Real estate issues: The rising cost of land and the changing rate of interest. To expand into emerging economies, The hotel is purchasing land at very high prices and this could be a costly error over the long term.
3. Affordable options: In most locations across their operating regions Starwood Hotels they are facing an abundance of competition from players with low costs such as homestays, budget hotels as well as other low-cost options. In the wake of the economic crisis that is sweeping the globe, travelers are opting to pay less and less on lodging and boarding and the result is that there’s a lot of brands changing.
Starwood Hotels & Resorts Opportunities – Starwood Hotels SWOT Analysis
1. Changes in market Trends; These trends within the hospitality industry are changing. Customers are more demanding, but is willing to spend more money for premium services. This means that hotels insisting on a more personal approach will charge more for their services.
Starwood Hotels & Resorts Threats – Starwood Hotels SWOT Analysis
1. Contest: The primary rivals of Starwood Hotels & Resorts are Hilton, Wyndham Worldwide, and Intercontinental Hotels.
Starwood Hotels SWOT Analysis Overview Template
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