Marriott Transforms Key Finance Processes †MyAssignmenthelp.com

Question: Discuss about the Marriott Transforms Key Finance Processes. Answer: Introduction: Marriott hotel made use of the different technology while offering the services to their business class customers. Moreover, after considering the need of the customer the company introduced meeting rooms and e-conferencing services. Most of the business customer needs a separate meeting room so that they can accomplish their objective of visit effectively. It is suggested to the company to add 86,000 square feet of meeting space that include the ballroom in it (Marriott International, 2016). Considering the data analysis done by the hotel in the case study it has been analyzed that business travellers who are concern about the environment are sizable these days. The company has already developed the prototype green hotels. After considering the case study, it is suggested to the company to form the tie-ups with the suppliers who operate in the environmentally friendly ways. These suppliers offer pads that are made from recycled paper for attendees of the business meetings. Marriott can get the key cards made up of recycled plastic as through this the company can contribute to the conserving environment. The pillow available in the guest room will be made from recycled plastic bottles. In addition, this will reflect that the company is following the obligation of the US environment protection Agency. An iron ore company has signed the contract for fly in and fly out a business customer for three years. FIFO is the method of hiring people in remote areas by flying them temporarily to work site. After analyzing the case study it can be said that Marriott could use different research techniques for identifying the needs of the customers so that the company can offer those facilities and services that can meet the needs. The techniques include focus group, online surveys, and in-room questionnaires. These survey and focus groups help the Hotel in understanding the need so that they can design the facilities according. For instance, considering focus group analysis given in the case study; most of the visitors like rooms from which they can see the beauty of nature. Considering the data, the Marriott can allocate those rooms that provide view towards nature. According to the case study analysis, Marriot could set the central database system with the help of which they can capture the details regarding the visits of the customers. Basically, it includes how long the customers stayed in Hotel, how many times they visited and many others. This helps in understanding the past experience and preference of visitors. In the form of internal data, the company can make use of ERP system in which the managers (finance director, manager, etc.) have to log in and can track the data (Marriott International, Inc. Hospitality, Travel and Leisure, 2018). It is suggested to the company to conduct a meeting with their staff so that they can share the lope holes in facilities as staff interacts with the customer on regular basis. Marriott hotel has built the advanced conference facilities at Perth and Hobart. This helps the onshore and offshore business stakeholders to communicate effectively. The approach of market segmentation refers to a process of dividing a broad customer or business market. Through this approach, the Hotel can identify the target market for the Perth and Hobart cities. Demographic- It includes the customer of different age, income, family size and others. Marriott generally focuses on the Business people or business travelers. Psychographic- These segments include the customers belongs to the different lifestyle, class, values, and interests. Maximum businessmen believe belong to the high class and follow the modern lifestyle. Behavioral- It includes the people having a different perception of the products and services offered by the company. Marriott is known in the market because of its services and business visitor who visit frequently because they find that the company is able to fulfill their requirements. Considering the segmentation approach, the hotel makes use of differentiate targeting in which they focus on business travellers who belong to higher income groups and who believe in class and status according to case study. Strategies to create customer value The hotel can bring the changes in their interiors of the business classrooms according to the client preferences which will make them feel valuable. The hotel can provide them laptop or desktop facility in rooms. Personalise business travellers and can check their frequency of visit in a hotel according to that they can make complementary for their clients considering their preference. References Marriott International (2016) Marriott International to Expand and Improve Offerings to Business Travel Professionals [Online]. Available from: https://news.marriott.com/2016/07/marriott-international-expand-improve-offerings-business-travel-professionals/ [Accessed on 23rd March 2018] Marriott International, Inc. Hospitality, Travel, and Leisure (2018) Marriott Transforms Key Finance Processes [Online]. Available from: https://www.xerox.com/downloads/gbr/en/gdo/casestudies/MarriottInternational-UKEnglish.pdf [Accessed on 23rd March 2018]