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MTM IXth - Business Plan: Multifunction “A’ La Page” Apart-Hotel In Milan

Nov 21, 2014

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It's a 12,000 square meter property on 20 levels to be converted into a MULTIFUNCIONAL BUILDING, located in the heart of the “Milanese Movida”. The mixed-used building will combine several functions, namely an apart-hotel with 100/120 guest rooms and 30/40 apartments for sale and/or rent; and a number of other areas (to be defined) with different features: e.g. lounge-bar, spa, fitness area, fashion, conference, bars and discos … The complex also contains a large garden space and 6,000 square meters of basement space, currently used as parking area.
The intent is to make this “apart-hotel/complex” one of the most renowned in Milan’s fashion addicts’ environments as well as one of the nightlife hubs of Milan …
The first step is to do the market research that will help us define and zero in on our target market as well as inventory the existing competitive set. Which are the main nightspots and venues (bars, pubs, clubs, live music venues, roof-gardens, restaurants, fashion-clubs and so on..) that especially business people (but also VIPs, celebrities and jet set personalities, sports players and starlets, models, actors and yuppie), can find in the capital of Lombardy, the so called “Milano da Bere”? What type of service they do provide? What make them so popular? Are there any best cases in Europe as well?
It will be a "branded" Apart-hotel: thereby it’s important to define the most suitable operator

  • 1. Master in Tourism Management IX edition 2012-2013 1 BUSINESS PLAN July 2013 MULTIFUNCTION A LA PAGE APART HOTEL IN MILAN Produced by: Anzhela Tanas Matteo Taller Bohdana Bukatar Valeria Maltceva Mariana Masotti Yulia Shinkareva TUTOR: Ing. Emilio Valdameri Progetto Turismo

2. Master in Tourism Management IX edition 2012-2013 2 PROJECT OVERVIEW A 12000 square meter property on 20 levels is to be converted into a hotel located in the heart of the Milanese Movida. The structure which is foreseen to be multifunctional one will combine several function areas namely an apart-hotel with a defined number of guest rooms and apartments for sale and/or for rent and other areas (outlets) with different features embedding the fashionable spirit of the city, location and target market. 3. Master in Tourism Management IX edition 2012-2013 Design the functional areas of the hotel by department in terms of the demand /offering, venues appropriateness according to the location and target market and define the type of services they will provide Brand the hotel and its outlets defined; propose the most suitable operator for the hotel and for every functional area Make the economical estimation for the complex revenues and costs and for every department apart for the next 5 years Estimate the capital and the time needed to cover the investment PROJECT OBJECTIVES 4. Master in Tourism Management IX edition 2012-2013 The Business Plan is made up of 2 parts: Analysis and research Analysis of the potential market including the market research of existing similar in functionality hotels in the major cities worldwide Analysis of the main nightspots and venues attended by business people and jet set personalities in Milan and other major cities as New York, Moscow ect. Project results The suitable hotel brand is determined The hotel scale is defined and economical outcomes of each department performance are estimated. Revenues and costs are estimated on department features basis according to the analysis results did in the first part. The estimated amount of investments are shown PROJECT STRUCTURE 5. Master in Tourism Management IX edition 2012-2013 Benchmarking as a fundamental tool in order to better understand the dynamics in place, to gain local information, discuss expectations and to commence the establishment of appropriate levels of service required in the area. Accounting methods as a tool to do calculations and give the assumptions a numeric form as a target to achieve METHODS 6. Master in Tourism Management IX edition 2012-2013 Hotel Benchmarking 16 urban hotels worldwide proposing fashionable distinguished service for high end, namely business clientele. All the hotels have specific outlets attended by famous and affluent young people being it the restaurant, the lounge bar, the conference venue or the SPA and Fitness areas as well as the nightlife entertainment. A particular attention was dedicated to Hard Rock Hotel San Diego preliminary estimated to be one of the best hotel matching our requirements. See Appendix 1 PART1. RESEARCH AND ANALYSIS 7. Master in Tourism Management IX edition 2012-2013 HOTELS BENCHMARK Waldorf Astoria NewYork by Hilton Elegance Luxury Versatile function spaces Lotte Hotel Moscow by Lotte Hotels & Resorts Modern twist Sanctuary Lounge Sophisticated amenities For more details see Appendix 1 8. Master in Tourism Management IX edition 2012-2013 Budha Bar Hotel Paris Neo-Asian design fused with the French "art of living Innovative international cuisine Intimate exclusivity For further details seeAppendix 1 HOTELS BENCHMARK Swissotel Krasnye Holmy, Moscow Unsurpassed service & luxury City Space Bar Unreapeted experience 9. Master in Tourism Management IX edition 2012-2013 Furama Silom Bangkok ModernThai style Creativity Stunning atmosphere HOTELS BENCHMARK Lux 11 Berlin Mitte Cool hotel Fashion scene and design Exclusive meeting space For more details see Appendix 1 10. Master in Tourism Management IX edition 2012-2013 Restaurant Benchmarking The benchmark analysis of restaurants in Milan known for the clientele they serve and the quality and level of service is provided. A short overview of restaurants is done with the aim to give the idea of the concept and the philosophy each restaurant conveys and the target market they cater to. 51 Restaurants in Milan were analyzed and 6 out of them were selected as the most appropriate. PART.1 RESTAURANTS BENCHMARK 11. Master in Tourism Management IX edition 2012-2013 There are Fingers Garden which is new type of restaurant quite innovative and successful Gold by D&G as a way to both enrich and enlarge the brand concept of D&G Armani Nobu as a sophisticated blend of Italian lifestyle with the Japanese cuisine For more details seeAppendix 2 RESTAURANTS BENCHMARK 12. Master in Tourism Management IX edition 2012-2013 Chandelier presenting an elegant refined atmosphere nowhere found in the city; Just Cavalli Caf embedding the Cavallis brand concept ofVIPness and uniqueness; Il Baretto attracting high end business clientele and hotspot celebrities due to refined atmosphere. SeeAppendix 1 RESTAURANTS BENCHMARK 13. Master in Tourism Management IX edition 2012-2013 Lounge Bars Benchmarking Lounge Bars being a special place for socializing and relaxing demand an accurate selection. In this subpart we researched the most prominent and famous hotel lounge bars in the major worldwide cities analyzing their features which make them in demand as design, service provided, location, the target market. 23 lounge bars/bars were analyzed in Milan The most renown lounge bars in the city have in common the brand they communicate as Bar Martini by D&G, JustCavalliCafe, Radetsky Bar, Il Baretto, La Cupola Lobby Lounge and Diana Garden. See Appendix 3 PART.1 LOUNGE BARS BENCHMARK 14. Master in Tourism Management IX edition 2012-2013 World known lounge bars: Sanctuary, Dubai Grand Bar, Soho Grand Hotel NewYork The Rooftop Summer Garden O2 Lounge, Ritz Carlton Moscow Met Bar, Metropolitan Hotel (COMO), London SeeAppendix 3 LOUNGE BARS BENCHMARK 15. Master in Tourism Management IX edition 2012-2013 SPA and Fitness Benchmarking SPA and Fitness amenities as hotel services were analyzed. Insights featuring modern SPAs and Fitness amenities - apart from providing treatments and training, they stand for experience, customized unique services provided, themed offerings targeting the most demanding clientele. The SPA and Fitness offerings in Corso Como Garibaldi area in Milan were analyzed. The research showed an abundant supply in the area. In total 10 SPA centers in Milan and the best known cases in the world were examined. See Appendix 4 PART.1 ANALYSIS AND RESEARCH 16. Master in Tourism Management IX edition 2012-2013 World known cases: The Spa at The Chedi Muscat Hotel, Oman Buddhatitude Spa at Budha Bar Hotel Budapest Rock SPA, Hard Rock Caf Hotel, San Diego Nirvana Spa, Wokingham, UK See Appendix 4 SPA FITNESS BENCHMARK 17. Master in Tourism Management IX edition 2012-2013 SPAs & Fitness Benchmark in Milan Art SPA at Maison Moschino QCTermemilano The Armani Spa Milano BVLGARI Hotel Milano Carlton Hotel Baglioni Spa Hado Spa Milano Boscolo Hotel Milano Spa Four Seasons Hotel Spa See Appendix 4 SPA & FITNESS BENCHMARK 18. Master in Tourism Management IX edition 2012-2013 Nightclubs benchmark The nightclubs benchmark in Milan in Corso Como especially, known for the high concentration of nightclub venues, is presented in Appendix 5 The most famous among the fashion addicts and celebrities are: Hollywood, Just Cavalli Caf, Armani Club Prive, Byblos PART.1 ANALYSIS AND REASERACH 19. Master in Tourism Management IX edition 2012-2013 Milans best nightclub venues. Hollywood 11 Clubroom Fiat Open Lounge Magazzini Generali Armani Prive Byblos Just Cavalli Caf Milano See Appendix 5 NIGHTCLUB BENCHMARK 20. Master in Tourism Management IX edition 2012-2013 1. The hotel brand and concept was defined Hard Rock Hotel (on San Diego Example basis) 2. The hotel outlets and amenities were determined: Ground floor restaurant, Ground floor lounge bar, 5 meeting rooms=1 balloon room, SPA and Fitness area on the last floor, Rooftop swimming pool and a rooftop restaurant. 3. The level of service to be provided was estimated BENCHMARKING OUTPUT 21. Master in Tourism Management IX edition 2012-2013 BRAND SOLUTION The winner is: HARD ROCK HOTEL SAN DIEGO CONCEPT luxury fashionable hotel providing nightlife and free- spirited entertainment possibilities for fashionable relatively young clientele. BENCHMARKING OUTPUT See appendix 7 22. Master in Tourism Management IX edition 2012-2013 22 THE PERFECT SOLUTION BRAND DECISION BACK UP After a specific in-depth analysis of various hotel complexes worlwide we came up with one BRAND covering the entire hotel complex In an interview with the CEO of Ramada Plaza Milano we discovered that involving different operatoras for each hotel outlet makes the structure management more complex One UMBRELLA BRAND is the best solution if properly implemented 23. Master in Tourism Management IX edition 2012-2013 Service level: 4 star luxury and glamour business oriented Location city downtown Gaslamp Quarter which is the city gateway for nightlife and entertainment options Feature: the hotel stay experience is a fusion of the Hard Rock concept with the city spirit Brand visibility a world reknown name Accommodations 420 guests rooms, 3 Studios, 3 Hard Rock Suites, 3 Rock Star Suites Amenities: Rock SPA, Rooftop Pool and Float Bar, 207 Lounge Bar, Maryjanes Retsurant, Nobu Restaurant23 HARD ROCK HOTEL SAN DIEGO OVERVIEW 24. Master in Tourism Management IX edition 2012-2013 Studios Guestrooms are anything but conventional. Hard Rock Suites perfectly capture the authenticity and irreverence of rock 'n' ro