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Quality vs Luxury Common Threads - Different Notions October 2005 Hotel Profit Conference, Warsaw Dr. Aris Ikkos Director JBR Hellas.

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Presentation on theme: "Quality vs Luxury Common Threads - Different Notions October 2005 Hotel Profit Conference, Warsaw Dr. Aris Ikkos Director JBR Hellas."— Presentation transcript:

1 Quality vs Luxury Common Threads - Different Notions October 2005 Hotel Profit Conference, Warsaw Dr. Aris Ikkos Director JBR Hellas

2 2 Contents Luxury Quality as a component of Luxury Quality: an autonomous characteristic Quality improvement programmes

3 3 Importance of Luxury Market 3% of tourists spend 20% of tourism expenditure => Spend per tourist - average for Greece $750 - top 3% ave spend $5.000 - remaining 97%$600

4 4 Who are the Luxury Travelers? They have time and money Usually FITs, not in groups Personal and Confidential Service Demands that are: –absurd for average person –to be evaluated in light of amount spent Well-Traveled & Adventurous Sharp, Experienced, Informed Young & Seeking VFM Seeking Qualitative experiences

5 5 Segmentation by Income Tycoons capable of fulfilling all material fantasies Very Rich demanding; individuality & confidentiality Rich qualitative service all round

6 6 Psychographic Segmentation The Elite Luxury Lover The Elite Luxury Loverin decline Image–status–exclusivity–ostentatious consumption The Aspiring Luxury Lover The Aspiring Luxury Lover Elite copycat – financial limitations The Savvy Luxury Shopper The Savvy Luxury Shopperrising trend Self-made – VFM – Smart and Rational – Internet The Luxury Explorer The Luxury Explorer Intense Feelings – Rare Places – Educated – Anti-snob The Satisfied Luxury Admirer The Satisfied Luxury Admirer Older – Infrequent travelers

7 7 Common Requirements High Quality Service Seeking All-round Experience –Specialised travel agency –Transportation –Transfer –Hotel –Sightseeing and Entertainment –Other Tourist Enterprises i.e. Integrated Total Experience Approach

8 8 Contents Luxury Quality as a component of Luxury Quality: an autonomous characteristic Quality improvement programmes

9 9 A luxury hotel 5 star Hotel and Bungalows Private pools - Private beach Spa, Watersports, 9hole golf 400 - 8.000 p.d.

10 10 A quality hotel Rooms & Suites Next to the beach 90-220 p.d. B&B

11 11 Another quality hotel Rooms & Cottages 65-110 p.d. 1km from beach Self-catering

12 12 and another Self Catering Apartments, 60-160 p.d. – Breakfast as Extra Santorini Top Location

13 13 A Quality Experience Hotel Infrastructure Quality Experience MarketingOther sectors Environment & Infrastructure Hotel Service

14 14 Current Standards Future Market Needs Quality Guide

15 15 Quality Standards Town Planning Standards Material Service Hotel Focus

16 16 Public Private Partnership Planning: – Project Team to include Private Sector Implementation: breakdown of responsibilities – Public Sector: Laws, Regulations, Audits – Private Sector: Financing – Joint: Communication with Tourism Sector and joint Decision Making on Tough Issues

17 17 Contents Luxury Quality as a component of Luxury Quality: an autonomous characteristic Quality improvement programmes

18 18 Implementation of Quality Upgrading Policies Croatia Malta Cyprus

19 19 Results in Croatia 20012004 CategoryBeds% % Undergoing the process of recategorization 1*7.642 8,2% 3.642 3,7% 2*38.387 40,9% 31.158 31,7% 3*42.482 45,3% 53.985 55,0% 4*2.224 2,4% 6.172 6,3% 2.199 (11 hotels) 5*3.093 3,3% 3.219 3,3% 1.136 (2 hotels) Total93.828 100,1% 98.176 100,0%

20 20 Results in Malta

21 21 Cyprus Options PossibilitiesKey Challenges Change of Category Building Infrastructure Upgrading Building Infrastructure Change of UseTown Planning Issues WithdrawalTown Planning Issues ReplacementMarket Conditions Τechnical Assistance for Marketing, Training

22 22 Holistic Policy Making for Quality Upgrading Financial Support Alternative Solutions: upgrading, change of use, withdrawal Technical Assistance to SMEs Laws & Regulations enabling & guiding market to adapt Implementation: Control and Decision Making

23 Thank you for your attention Dr. Aris Ikkos a.ikkos@jbrhellas.gr +30-210-3605002


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