30-day Challenge – Day 27
I’m not much of a sports fan, but I couldn’t help but notice recent stories about the former Houston Rockets star, Yao Ming, releasing a line of luxury wines in his native China. Continue reading
luxury
Hospitality Jobs Coming in Europe
30-day Challenge – Day 22
As my classmates and I get closer to graduation in May 2012, the anticipation of finding a job only increases. Today’s post will shed some light on where some luxury companies may be hiring – specifically hospitality.
Hilton Worldwide recently made an announcement of its intention to add more than 8500 new jobs in Europe by 2014. Check out the press release here.
The company is opening more than 110 hotels in Europe, via new builds and conversions. Key growth markets for the company include the UK, Russia, Turkey, Germany and Poland.
A range of award-winning training and development initiatives are also available at Hilton Worldwide such as the fast-track graduate programme, Elevator, which identifies and nurtures talented graduates and high potential candidates from within Hilton Worldwide. These rising stars go through a thorough 18 month training programme before assuming their first management position, and then are usually fast tracked to senior leadership positions, with the aim of developing into successful hotel general managers.
Diamonds are Getting Pricey
30-day Challenge – Day 21
If you are an affluent consumer earning more than $100,000 in annual income, then the recent report by Bain & Company on diamond prices should worry you. If you make upwards of $250,000 a year, then you shouldn’t be as perturbed because you will not be greatly affected by the forecasted jump in diamond prices.
The global consulting firm has put out a report estimating that diamond demand will grow at a 6% CAGR over the next decade. The company believes that as we approach 2020, diamond supply will not be able to keep up with demand due in part to the growing economies of China and India. Those markets alone are estimated to push diamond demand at a CAGR of 6.6% in diamond volume alone. While demand is estimated to grow, diamond supplies are only expected to grow by 3% (CAGR) in volume. Continue reading
Differentiating Upscale Hospitality Series: Four Seasons Hotels and Resorts
30-day Challenge – Day 14
If you have been in touch with much of the happenings in hospitality, then you would have noticed a huge emphasis on rolling out more value-added services to complement the commoditized room revenue segment. Over the past year, one of the hotel and travel components being actively pursued by hospitality groups, developers, and licensees alike, has been spa services.
I can’t remember where I heard or read it, but someone once said something very profound about luxury brands:
Luxury brands don’t discount, they add value.
Differentiating Upscale Hospitality Series: Ritz-Carlton
30-day Challenge – Day 13
Today, I am going to highlight an ingenious new brand platform put out by Ritz-Carlton. If you don’t want to read the post and just get to the core of an exciting and counterintuitive differentiation strategy, play the video below.
Differentiating Upscale Hospitality Series: Orient Express
30-day Challenge – Day 12
Today, I am looking at emerging themes in luxury with a focus on the hospitality industry. With rooms becoming commoditized, hotels have but one option to capture the hearts of its customers – differentiate. How do you differentiate one luxury hotel brand from another? Well, for starters we are way past thread counts, serving sumptuous breakfasts, and delivering the morning newspaper. Upscale hotels are having to differente themselves on the experiences they can provide their guests. In the next posts, I’ll talk about how some hotel groups are doing just that. We’ll kick off the series with Orient Express. Continue reading
Sustainability – The New Dimension of Luxury
30-day Challenge – Day 11
Over the course of writing this blog, I have learned a lot by covering the evolving themes in the business landscape occupied by premium brands.
For any of my readers interested in working in the luxe space, these themes are what I believe will dictate and most possibly define their success. I have talked about luxe-related issues ranging from social media to responsible business. Today I want to talk about sustainability. If you have already got a dose of this in my earlier posts, then I am re-emphasizing it in light of recent news articles highlighting how some brands are introducing sustainability in their corporate strategies.
Who would have ever known that acclaimed jeweler, Tiffany, would build a dedicated web page to highlight its efforts in corporate social responsibility (CSR); or that the renowned Peninsula Hotels would make a bold (and maybe costly) decision to stop serving shark fin in its restaurants?
Well, its happening all around us today. Whether or not you believe in the sincerity of these varying corporate initiatives, sustainability is no longer a matter of lip-service. Brands are actually paying attention to many of the concerns of consumers. In his opinion piece on luxurysociety.com, Leslie Pascaud, Director of Added Value Paris, discusses why luxury brands should and will embrace sustainability in the near future. See the article here.
Lessons in Luxury 