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INTERNATIONAL BUSINESS STRATEGY

TAJ HOTELS Resorts and Palaces

ASSIGNMENT ON HISTORY AND DEVELOPMENT

Submitted to: Prof. RADHA KRISHNA

Submitted by: Chithra K PGDM-IB (2009-11) IFIM B SCHOOL.

INTRODUCTION
The Indian Hotels Company Limited (IHCL) and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and is recognised as one of Asia's largest and finest hotel company. Incorporated by the founder of the Tata Group, Mr. Jamsetji N. Tata, the company opened its first property, The Taj Mahal Palace Hotel, Bombay in 1903. The Taj, a symbol of Indian hospitality, completed its centenary year in 2003. Taj Hotels Resort and Palaces comprises more than 72 hotels in 52 locations across India with an additional 15 international hotels in the Malaysia, United Kingdom, United States of America, Bhutan, Sri Lanka, Africa, the Middle East and Australia. Spanning the length and breadth of the country, gracing important industrial towns and cities, beaches, hill stations, historical and pilgrim centres and wildlife destinations, each Taj hotel offers the luxury of service, the apogee of Indian hospitality, vantage locations, modern amenities and business facilities.

History and Growth


The Company was incorporated in 1902 and it opened its first hotel, The Taj Mahal Palace, Mumbai, in 1903. The Company then undertook major expansion of The Taj Mahal Palace, Mumbai by constructing an adjacent tower block and increasing the number of rooms from 225 to 565 rooms. With the completion of its initial public offering in the early 1970s, the Company began a long term programme of geographic expansion and development of new tourist destinations in India which led to its emergence as a leading hotel chain in India. From the 1970s to the present day, the Taj Group has played an important role in launching several of India's key tourist destinations, working in close association with the Indian Government. The Taj Group has a philosophy of service excellence which entails providing consistently high levels of personalized service and innovative means of improving service quality.

The Taj Group has been active in converting former royal palaces in India into world class luxury hotels such as the Taj Lake Palace in Udaipur, the Rambagh Palace in Jaipur and Umaid Bhawan Palace in Jodhpur. In 1974, the Taj Group opened India's first international five star deluxe beach resort, the Fort Aguada Beach Resort in Goa. The Taj Group also began its business in metropolitan hotels in the 1970s, opening the five-star deluxe hotel Taj Coromandel in Chennai in 1974, acquiring an equity interest and operating contract for the Taj President, a business hotel in Mumbai, in 1977, and opening the Taj Mahal Hotel in Delhi in 1978.

In 1980, the Taj Group took its first step internationally by opening its first hotel outside India, the Taj Sheba Hotel in Sana'a, Yemen and in the late 1980s, acquired interests in the Crown Plaza, London, St. James Court, London and 51 Buckingham Gate Luxury Suites and Apartments in London.

In 1984, the Taj Group acquired under a license agreement each of The Taj West End, Bangalore, Taj Connemara, Chennai and Savoy Hotel, Ooty, with which the Taj Group made its foray into Bangalore.

With the opening of the five star deluxe hotel Taj Bengal in Kolkata in 1989; the Taj Group became the only hotel chain with a presence in the five major metropolitan cities of Mumbai, Delhi, Kolkatta, Bangalore and Chennai. Concurrently with the expansion of its luxury hotel chain in the major metropolitan cities, the Taj Group also expanded its business hotels division in the major metropolitan and large secondary cities in India.

During the 1990s, the Taj Group continued to expand its geographic and market coverage in India. It developed specialized operations (such as wildlife lodges) and consolidated its position in established markets through the upgrading of existing properties and development of new properties. Taj Kerala Hotels & Resorts Limited was set up in the early 1990s along with the Kerala Tourism Development Corporation. In 1998 the Taj Group opened the Taj Exotica Bentota which

strengthened the Taj Group's market position in Sri Lanka. In 2000, the launch of the 56 acre Taj Exotica, Goa and the Taj Hari Mahal in Jodhpur were completed. In 2000, the Taj Group entered into a partnership with the GVK Reddy Group to set up Taj GVK Hotels and Resorts Limited and thereby obtained a prominent position in the market in the southern business city of Hyderabad, holding three hotels and a major share of the market. In 2001, the Taj Group took on the management contract of Taj Palace Hotel, Dubai, and has established itself as an up-market hotel in the Middle East region. The Taj Exotica Resort & Spa, Maldives launched the Taj Group into the premium luxury hotel market and since its opening in July 2002, has won several international awards. The Taj Group also obtained licenses to manage and operate two leisure hotels; the Rawal-Kot, Jaisalmer and Usha Kiran Palace, Gwalior in October 2002.

In September 2002, the Taj Group acquired an equity interest in the former Regent Hotel in Bandra which gave the Taj Group access to the midtown and North Mumbai market. The hotel has since been renamed as the Taj Lands End, Mumbai.

In 2003, the Company celebrated the centenary of the opening of its Flagship hotel, the Taj Mahal Palace, Mumbai.

In 2004 the Taj Group opened Wellington Mews, its first luxury serviced apartment in Mumbai. In the same year, the Taj Group also launched the first of its "value-for-money" hotels in Bangalore branded 'Ginger', which division has 11 hotels in various locations in India and is owned through its wholly owned subsidiary.

In 2005 the Company acquired on lease The Pierre, a renowned hotel in New York City, to enter the luxury end of the developed hotel markets internationally. The Company entered into a management contract for Taj Exotica in Palm Island Jumeirah in Dubai to expand its existing presence in the United Arab Emirates.

The Company enhanced its position as an operator of converted palaces by entering into a management contract for Umaid Bhawan Palace, Jodhpur in the princely state of Rajasthan in India. The Company, through a subsidiary, acquired the erstwhile W hotel in Sydney, Australia in February 2006 and renamed it as Blue, Woolloomooloo Bay. To expand its presence in the US market, the Company acquired in early 2007 Ritz Carlton in Boston and Taj Campton Place in San Francisco. In 2008-Taj Hotels Partner with Saraya Islands to Operate Taj Exotica Hotel in Ras Al Khaimah, United Arab Emirates. Taj Hotels and the Tashi Group join hands to create the new benchmark for premium hotels in Bhutan - Taj Tashi Bhutan. Taj International Hong Kong Ltd, signed a management contract with Cuiting Hotspring Hotel Management Company Ltd. Taj will operate the latters Temple of Heaven Park property in Beijing and the Hainan Hotel project. The Taj Group set up a public service welfare Trust fund named - Taj Public Service Welfare Trust (TPS Welfare Trust), In response to the unprecedented attack on Mumbai between November 26 to 29, 2008, where many people from the security forces, the Police, Fire service, hotel employees, guests of the Taj and general public were killed or wounded. In 2009- Indian Hotels Company Limited announced that it is going to acquire a controlling stake in ELEL, the company which holds a long term sub-lease for the land on which the Sea Rock Hotel is located in Bandra, Mumbai, for Rs. 680 crores. The Taj Residency Ummed in Ahmedabad migrated to The Gateway Hotels portfolio, making this its third property in Gujarat and the 31st Gateway hotel in India. Taj launches Vivanta by Taj in Maldives.

In 2010- Taj Hotels Resorts and Palaces, one of Asia's largest and finest group of hotels, and VICTORIA-JUNGFRAU COLLECTION, an exclusive hotel group comprising four of Switzerland's leading luxury hotels have entered into a strategic joint marketing alliance to develop cross-promotional opportunities for both companies to harness each other's strengths in their respective markets.

Taj Hotels Resorts and Palaces announced the opening of Taj Cape Town. This new luxury hotel in the historic city of Cape Town is a joint venture between Indian Hotels Company Ltd and city centre developers Euro cape, with the investment in the project topping R500 million. Hotels operated by the Taj Group internationally are located in US, Australia, Dubai, Maldives, Malaysia, Sri Lanka, the United Kingdom, Yemen and Zambia.

The vision
The vision for the Taj Group is for it to be a select chain, present globally. Asian, perhaps in character, but absolutely international in terms of systems and processes and with a strong West European focus. The way forward was to make sure that the entire Taj team is imbued with the missionary zeal to sell the brand.

Success
The success can be summed up in just one word: People. It is the commitment and dedication of the Taj team and long-standing patronage of our guests in both good times as well as bad that have made all the difference. The Taj Hotels provide excellent training programmes to its employees one among it is TPP (Tajs People Philosophy) and STAR (Special Thanks and Recognition system).

Segmentation
The Taj group of hotels are segmented into three groups according to the customer requirements.

1)Taj Luxury Hotels- offer a wide range of luxurious suites with modern fitness centers, rejuvenating spas, and well-equipped banquet and meeting facilities. 2)Taj Business Hotels- provide the finest standards of hospitality, which helps the business trips to be
productive. They offer well-appointed rooms, telecommunication facilities, efficient service,

specialty restaurants and lively bars, well-equipped business centres, and other conference facilities 3) Taj Leisure Hotels- offer a complete holiday package that can be enjoyed with the whole family.
It provides exciting activities ranging from sports, culture, environment, adventure, music, and entertainment.

Positioning
The Taj hotels position itself in the minds of customer through attractive advertisements. The new campaign developed a specific brand identity for the hotel. . The advertisement shows the enigmatic woman who stands for both hospitality and efficiency. The identity was developed after extensive research on the consumers attitudes towards the Taj. Over 60 in-depth interviews were conducted by client and agency. The parameters? Not quantity, but quality. The things done right. The quality of check-in, the smile, the greeting or the welcome drink. The insights gathered were analysed and a clear slot, which the Taj could occupy when global competition arrived, emerged. This was translated into creating a distinct personality of the Taj as caring, efficient and enigmatic. The line went: She is the Taj, The base line was Nobody cares as much.

Targeting
Targeting the group of people who have common need, and behavior.

Business class Upper class Tourists

SWOT Analysis

Strength
Customer satisfaction strategy Well established brand Excellence cuisines Indian culture

Weakness
Only seeing the upscale market High cost

Opportunity
Unexplored territories Globalisation Increase in tourism

Threats
Growing terrorism Economic downturn Competitors (local as well as global players)

Bibliography
http://nitawriter.wordpress.com/2006/11/24/the-story-of-one-of-the-brand-taj/ article by Nita The story of one of Indias biggest brands the Taj www.joy-travels.com http://www.tajhotels.com/abouttaj/companyinformation/default.htm http://www.tajhotels.com/abouttaj/companyinformation/HistoryOfTaj.htm http://www.scribd.com/doc/13323987/hotels http://en.wikipedia.org/wiki/Taj_Hotels The Tajs people philosophy and STAR system. From ICMR case collections.

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