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

Hospitality from the French word “Hospice” To provide for the weary To take care of Traveling Sumerians(2500 BC) “House of the go far people” Code of Hammurabi ( BC) Caravanseri “Caravan “ (Persia 200 BC) Hotel in Olympus for visitor of the Olympic games (4 th Century B.C

The history of the hospitality industry in the United Sates dates all the way back to the colonial period in the late 1600s. 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.

Early America WWI 1910 Golden Age 1920 Depression 1930 Motel Age 1950 Growth Recession 1980 Recovery ……. Time Line

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.

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

Le Parker Meridien was acquired by The Jack Parker Corporation in After the purchased, Le Meridien became Le Parker Meridien. In After the purchased, Le Meridien became Le Parker Meridien. In 2001, another branch was opened in Palm Springs, California.

42 Floors with 732 Rooms. Restaurants & Bar: Norma’s Seppi’s Burger Joint knave Rooftop Pool Health Club: gravity

“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 Meridien Corporate site, 2009

“[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 Meridien Corporate site, 2009

Environmental conditions affect Businesses in many ways. These conditions include the following factors: Economic Social Cultural Technological Political Global

Economic factor : The economic factor can impact businesses within all industries. Environmental changes reflect standards and general well being of a society.

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

The social factor: Changes in demographic and life style trends. Emerging archeological tourism in New York City. The global factor Globalization Promotion of cultural diversity

The cultural factor The United States of America is a country rich in history and cultural diversity. In New York alone, two hundred and fifty languages are spoken.

The Technological factor Virtual Tours Online Reservation Technology offered on hotel premises IT System to manage hotel operations

The political factor The political factor has been playing 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. Political unrest

Occupancy by Room and Month in Percentage

Approximate Room Rates by Month

Approximate Revenue by Month

A SWOT analysis is a situation analysis in which internal strengths and weaknesses of an organization, and external opportunities and threats faced by it are closely examined to chart a strategy.

Strengths  Location  Food Business  Low Employee turnover rate  Collecting new customers feedback

Weaknesses  Customer reviews from other sources are not taken into consideration  Underutilized resources  Frequent change of Management  Lack of Advertising  Website is not user friendly

Le Parker's Customer's Review Like it/ Total Reviews :227 Do not like/Percentage No ComplainsComplain(s) Category of Customer Business Class Romance33618 Family Vacation21314 With Friend36411 All Other Type

Opportunities  Available resources in premises to start new ventures  Emerging international markets  New packages for budget travelers

Threats  Intensive Competition  Economic slowdown  Changing local government regulations puts them on the spot

Le Parker Main Competitors Jumeirah Essex House Four Seasons New London NYC

Essex House's Customer's Review Like it Total Reviews :215 Do not like/ Satisfaction Percentage No ComplainsComplain(s) Category of Customer Business Class40490 Romance62592 Family Vacation With Friend All Other Type

Four Season's Customer's Review Like it/ Total Reviews :227 Do not like/ Satisfaction Percentage No ComplainsComplain(s) Category of Customer Business Class RomanceN/A Family VacationN/A With FriendN/A All Other TypeN/A

Parker Meridien main market segment are: Business People Celebrity Foreign Travelers

Enhancement and Revitalization Project The Parker Meridien 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.

The Parker Meridien 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

Location Design family oriented packages. Ex. Walking tour of Central Park. Economic Slowdown Design affordable packages targeting lower-middle class. Enhance current web page.

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

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

Underutilized resources Start using rooftop/ Park View Conference room to serve dinner as an extension of Norma’s Start food festival of European month in one of the restaurant