Tourism

Market research is one of the important aspects of tourism that we should look upon.  Likewise, if your company is about to buy a new property perhaps a hotel, some important points such as spot of interest, population size, current trends, and the current amenities of the hotel should be considered.  With reference to Franklin Hotel given as an example, below are the market segments of four hotels at Rittenhouse Square which will post as its main competitors.

Hotel Palomar Philadelphia
Hotel Palomar is located at Philadelphias French Quarter with 230 luxurious guest rooms, a 247 fitness center, in-room spa services, a hosted evening wine hour and complimentary internet access.  It is also eco-friendly and pet-friendly hotel. It has a LEED registered restaurant.

Sofitel Philadelphia
Sofitel is a French inspired hotel with subtle American style also located in the heart of Center City- French Quarter.  It markets itself as a four and a half star.  It has 300 rooms. You can enjoy French cuisine at Chez Collette and Cocktail at La Bourse.  Its amenities includes- large marble baths, 24-hour concierge service, luxurious robes, hairdryers, and irons and boards.  Internet service is also available for a small surcharge. It also has 24-hour fitness center with fresh fruits available.

The Latham Hotel
The Latham Hotel Latham is a Classic European-style, boutique hotel.  It includes 139 elegantly appointed guest rooms.  It is located at the corner of 17th and Walnut Streets.  All rooms are furnished with voice mail, coffee makers, hair dryers, terry-cloth robes, irons with full-sized boards, and free wireless high-speed internet access. Complimentary newspaper delivery is available every weekday.

Double-tree Hotel Philadelphia
Double-tree is located right on the Avenue of the Arts at Broad and Locust Streets with 434 rooms.  Other amenities include a restaurant The Standing O Bistro, lounge and a health club with an indoor pool. The rooms have two dual-line telephones with data port, speakerphone, private voicemail and a high-speed internet access.

These four hotels are threat to Franklin hotel mainly because they were almost located at the French Quarter.  All of the hotels adhere to business and leisure markets.  But there should be a clear distinction between the two since the two markets have a relatively different rate.  There should also be bonuses, bundle promos, points acquisition equivalent to rewards to attract more customers amidst the tight competition.