Bvlgari Hotels & Resorts by student331

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EXECUTIVE SUMMARY

CAPRI

HISTORICAL REVIEW

ST. B ARTHE L E MY

TIMELINE

KEY SUCCEESS FACTORS

PERIOD OVERVIEW

COMPETITIVE ADVANTAGES

CURRENT STATUS

FUTURE TRENDS

MISSION STATEMEMNT

TARGET CONSUMER

SWOT ANALYS IS

GOALS & OBJECTIVES

BRAND IDENTIT Y

STRATE GY OVE RVIE W

BRAND EQUIT Y

UNIQUE SELLING PROPOSITION

BRAND STRATEGY

LUXURY INGREDIENTS

MARKET OVERVIEW

CONCLUSION

ST. MORITZ

REFERENCES

EXECUTIVE SUMMARY

As we look in to the future â&#x20AC;&#x201C; it is important to think about where Bulgari Resorts & Hotels will be in the next 10 years. Currently, Bulgari has their hotels & resorts in Milan, London, Dubai, Bali, Beijing, Shanghai, with plans to open in Paris in 2020, Moscow in 2021, and Tokyo in 2022. As the brand continues to expand, we plan to build brand new hotels & resorts in St. Moritz in 2024, Capri in 2026, and St. Barths in 2028. We chose St. Moritz because not only does it tie back to the history of Bulgari as a summer destination where the founder sold his jewels, but it is known as the top luxury Swiss ski region in the world. Capri was chosen due to its tie to Italian heritage while providing a beautiful and scenic getaway for celebrity and the super rich. Lastly, St. Barth was chosen because we would like to expand to the western hemisphere and what better place than the prestigious and exotic Caribbean island of St. Barth. In order to be successful with the launch of these new destinations, it is important that we implement the key success factors such as customer service, advertising, location, and cost control. Bulgari Hotels & Resorts will remain competitive in the market due to innovative service, location, design, and lifestyle orientated travel.

HISTORICAL REVIEW The origins of the Bulgari family are found from the small Greek village that is situated in the Pindus mountain range in Epirus. Ancient poets such as Homer and Thucydides have written about this region due to its rich history and mythical traditions. The family’s early history dates back to the early part of the 19th century – where they were then known as the Boulgaris in the village of Kallarrytes. The Kallarrytes economy was based mostly on stock farming with inhabitants of skilled metalworkers. The silversmiths of Kallarrytes produced artefacts such as belts, buckles, buttons, earrings, sword sheaths and cartridge belts in silver.

During the beginning in Rome, Boulgaris and Kremos sold their silver from a stall in front of the French Academy on the Pincio. Caught without a license to trade, the two sold for three days. However, during this time they were able to make quite a profit and a Greek merchant offered to let the two partners display their ware in the window of his shop. This particular outlet was located at the beginning of Via Sistina – which is the present location of the Hassler Hotel. Their buckles and buttons sold really well and the two were able to start their own shop. The business flourished and their goods were highly sought after.

The Bulgari ancestors were amongst the silversmiths of Kallarrytes. A boy named, Sotirios, was born to the silversmith, Georgis Boulgari, on March 18th of 1857. Sotirios ended up being the only child out of eleven to survive and became the official founder of the Bulgari firm.

In 1884, Sotirios parted with Demetrios and started his own shop at 85 Via Sistina. During the slower summer months, Sotirios sought to capitalize on trade at summer resorts. He settled for St. Moritz, a fashionable mountain resort. Sotirios worked very hard in his workshop to keep up with the demands of his business. In time, he summoned his countrymen and relatives to join him with his increased workload. In 1894, Sotirios opened his second shop in Rome at 28 Via dei Condotti. This shop was inscribed, “S. Bulgari – Argenteria Artistica, Antiquités, Curiosités, Bijoux”. This indicates that Sotirios Italianized his surname Boulgaris to Bulgari. At the time, Sotirios sold a variety of goods from silver, antiques, bric-abrac, and jewels. Other subsidiaries were opened, including San Remo (1895), Naples (1897), Bellagio (1897) and Sorrento.

In 1873, Epirus was taken under the Ottoman rule – during this time the Turks and Christians agreed to burn down Paramythia in order to rebuild it. During this blaze, the Boulgari’s shop was destroyed. Georgis and his son, Sotirios, then left the village to work for Albanian beys who were local rulers of the vicinity, Argyrokastro. Throughout time, Georgis and Sotirios moved around month to month due to the collapse of the silver trade and unsafe areas of the Turkish land. Robberies as well as war and outbreaks between the Turks and Balkans devastated Sotirios and his father and then they decided to leave the country in 1877 for Corfu. Corfu is where Sotirios opened a small workshop in the San Rocco quarter. Due to an overly comfortable life in Corfu, Sotirios left due to feeling restricted. Sotirios was accompanied by an acquaintance named, Demetrios Kremos, who was also a silversmith. The two headed off to Naples, Italy during the autumn of 1880. It was here that the two opened their own shop in Piazza de Martiri where they sold their silver and plate. However, one evening the shop was broken into which prompted the two to leave for Rome – where they arrived in February of 1881. 6

Building wealth off the British and American aristocratic tourists – Sotirios started to widen his stock to include a selection of jewels used for personal adornment. Sotirios started to maximize on the concentration of antique silver and jewelry and started to close down his shops while handing some shops over to his relatives in effort to succeed and excel. During the first decade of the 20th century, Sotirios’ sons were taught the secrets of the trade. The First World War brought the business to a standstill, however from 1918 and beyond – the Bulgari jewelers were flourishing and became famous for fine silver and gems.

On November 24th, 1932 – Sotirios died and the business was left in the hands of his two sons, Constantino and Giorgio. The two boys decided to expand the business by revamping the store through the help of architects. Some of the new details included lavish marble work, fine cabinets, and gilding. The new shop was unveiled on April 9th, 1934. Constantino and Giorgio split responsibilities of the business. Constantino was seen as an expert on antique silver as he devoted himself to the study of Italian goldsmiths, silversmiths and gem engravers. Due to Constantino’s passion for research and little time devoted to the family business – Giorgio took full-responsibility for running the business. Constantino soon became the forefront of connoisseurs with a book published in five volumes between 1958 and 1974 on the directory of Italian silver hallmarks from all periods. Giorgio, on the other hand, was the businessman and

creative. Giorgio became the expert on stones, jewelry design, and manufacture – traveling to Paris to learn all the latest trends in jewelry. The third generation of Bulgari began with Constantino’s daughters and Girogio’s sons to carry on the family tradition. As Gianni, Paolo, Nicola, Anna and Mariana took ownership of the family firm. The company was acquired by LVMH in 2011. Paolo and Nicola Bulgari remain the Chairman and Vice President of Bulgari S.p.A. Board of Directors. The family is entitled to appoint the Board of Directors and CEO of LVMH. In 2004, the first unveiling of the Bulgari Hotel was opened in Milan as a joint venture with Marriott International. This was later followed by the launch of the Bulgari Hotel London, Dubai, Bali, Beijing, and Shanghai. 7

TIMELINE

1857

The founder, Sotirios Boulgari, was born March 18th

1884

Sotirios opened his first store on 85 Via Sistina

1918

Bulgari was flourishing after the first world war

1925

Art Deco styled jewels appear

1932

Trobino diamond ring was created

1934

Sotirios died - left the business with his two sons

1940’s

Naturalistic inspired jewelry

1940’s

The iconic Serpenti wrist watch was created

1960

Bulgari started to advertise

1960’s

Striking color combinations in gemstones

1970’s

Indian-styled collections appear

1977

Launch of the BVLGARI-BVLGARI wrsitwatch

1980

Bulgari Dream campaign began

1992

Metamorphosis Campaign began

1990

Creation of Bulgari Parfums

1996

Launch of accessories and leather goods

2004

First opening of the Bulgari Hotel in Milan

2011

LVMH acquires Bulgari 9

PERIOD OVERVIEW POLITICAL Preceding the second world war, one of the most regular patrons of Bulgari was Count Vittorio Cini of Venice. It is stated that he purchased a fine pink diamond of 24.44 carats. Another customer who regularly purchased the acquisition of Bulgari diamonds and jewels was Count Galeazzo Ciano di Cortellazzo – minister of Foreign Affaris in Italy from 1936 to 1943. Ciano and his wife Edda, Mussolini’s daughter, purchased lavish goods of 300,000 lira. Monarchs and members of royalty from all around the world have visited Bulgari in Rome. Bulgari also held historical American patronage from members such as Barbara Hutton, Florence Gould, Henry Ford II, Nelson Rockefeller and Samuel Henry Kress. The United States ambassador to Italy, Clare Boothe Luce, was also an admirer of Bulgari as she appointed President Eisenhower in 1953 as the first woman to be an envoy to a major country. ECONOMIC During the 1940’s – Bulgari was forced to reduce the production of jewelry due to World War II. The outbreak of the war caused a standstill throughout Europe which created a climate that was not suitable for the opulent display of jewelry. The legislation forbid the purchase and sale of precious metals, pearls, and gemstones. However, the 1950’s gained economic prosperity and there was a comeback in high jewelry with lavish designs set with diamonds and gemstones. It was during this period in time when the song, Diamonds are a Girl’s Best Friend, was sung by Marilyn Monroe in Gentlemen Prefer Blondes. SOCIAL Bulgari has been committed to the tribute of femininity. The Roman jewels trace the associations between creative approach and the evolving tastes of women which parallel in social and cultural trends. Through the gemstones and diamonds, Bulgari has created timeless and sparkling designs. Bulgari has also searched the world to find the rarest gemstones of magnificent color and cut to perfection. In addition, Bulgari has remained bound for creativity 10

by mastering designs that are unexpected and daring. In fact, one of the legendary designs is that of the serpent. The Serpenti is said to symbolize seduction and strength which is the fearless spirit animal of the modern woman. Since the Dolce Vita era – Bulgari has been known to beautify fascinating woman and has become the jeweler to the stars. These jewels have historically been worn by legendary female icons such as Audrey Hepburn, Elizabeth Taylor, Julia Roberts, Reece Witherspoon and Anne Hathaway. Bulgari has also supported environmental causes for the World Wide Fund for Nature in 1991 through the support of the Biological Diversity Campaign. During this time, Bulgari launched the Naturalia line as a tribute to Nature’s beauty and richness. This entailed a range of motifs from flowers, plants, birds and fish. During the 125th anniversary of Bulgari – the company supported the Save the Children – Rewrite the Future Campaign. This fund provided education and a better future for millions of children. TECHNOLOGICAL One of the major technological shifts for Bulgari was in 1980. During this time – Bulgari set up a means of centralization in which the company could spread their product in a universal and coherent manner. In doing so, Bulgari set up “Bulgari Distribuzione.” the purpose was to conceive, design, manufacture, and distribute jewels and objects to Bulgari outlets throughout the world. This completely changed the ways in which Bulgari was run from a creative and structural standpoint. This ensured the Bulgari products were innovated in a uniform way and distributed through shops with a consistent image and decor. The designers used were skilled and advanced industrial designers that first created the 1982 Parentesi collection. This particular line is said to be the most copied jewelry design of all time. The 1980’s were also the time in which Bulgari came out with the BVLGARI-BVLGARI wristwatch - as wearable jewels and timepieces became ever so popular. This was in effort to fit the dynamic lifestyle of the modern woman.

ART & LITERATURE Bulgari has a close connection to art and their roots in Rome. In 1884, Sotirios opened his first shop on top of the Spanish Steps and inaugurated his second boutique at 10 Via Condotti. In 2014 during the 130th anniversary – Bulgari adopted the Spanish Steps as tribute to the successful Maison. In 2016, Bulgari and the Roma Capitale celebrated the restoration of the stairway with a memorable art and music event. In 2015, Bulgari also restored the floor of the western entrance palestra of the Baths of Caracalla. The mosaic on the floor is inspired by the Diva’s Dream collection. The colored gemstones of Bulgari are the DNA of the brand. With rich color combinations – the gem is said to be the soul and spirit while the gold represents the skeletal body. The American artist, Andy Warhol, was obsessed with the design, color, shape and texture of Bulgari. As this was also essential to his own aesthetic. Andy Warhol collected the jewels by Bulgari. Warhol believed Bulgari to be the best exhibition of contemporary art. Bulgari was also big to film directors and producers. Carlo Ponti and Roberto Rossellini shopped at Bulgari for their wives, Sophia Loren and Ingrid Bergman. It is known that Vittorio De Sica was a client of Bulgari since 1939. Bulgari’s associations with the film industry were strengthened in the 1970’s as Jessica Lange was seen wearing Bulgari jewels on the American magazine cover of Interview as well as in the 1976 film, King Kong. The Quadrato watch was featured on Glenn Close in the film, The Paper (1994). The Parentesi necklace was featured as the first prize of winning the lottery in the film, Il Conte Max (1991). This film starred Christian De Sica and Ornella Muti. Director, Robert Altman, featured a scene in the 1994 film, Pret-a-Porter. This scene launched the Chandra collection at Bulgari in Paris. Ever since the 1990’s, Bulgari has loaned jewels to film stars for occasions such as the Academy Awards. 11

C U R R E N T STAT U S

Bulgari is headquartered in Via dei Condotti, Rome, Italy and it is the flagship jewelry brand for luxury conglomerate, LVMH. The brand has approximately 333 stores worldwide, nevertheless it plans to reach 363 stores by 2021. Its largest store is a 10-story boutique located in the Ginza Tower in Tokyo, Japan. This location also includes a restaurant and lounge bar. Its current product categories include jewelry, watches, accessories, leather goods, fragrances, hospitality and restaurants. Specifically, the brand has six hotels open to date in Milan, London, Dubai, Bali, Berlin and Shanghai. Nevertheless, Bulgari Hotels & Resorts will open an additional hotel in Paris in 2020, in Moscow by 2021 and in Tokyo by 2022. At the moment, Bulgari has also been described as having the “strongest momentum in its history” by its current CEO, Jean-Christophe Babin. This is because 2018 was a very important year for the company marked by a variety of milestones. Specifically, the brand hit record revenues of 2 billion euros and was the top performing company for LVMH for watches and jewelry that year. It also opened a hotel in Shanghai and celebrated 100 years of women’s watches by launching a 10-piece collection for its Diva Finnisima line. Additionally, it inaugurated a “Curiosity Shop” inside its Rome boutique specifically targeted at Millennials in order to get them inside the interactive new store and drive brick-and-mortar sales. Lastly, Bulgari also introduced their first new jewelry pillar since 2014, Fiorever, a collection inspired by flowers.

M I SS I O N STAT E M E N T â&#x20AC;&#x153;Bvlgari Hotels & Resorts aim to be the leading luxury hospitality collection in the world.â&#x20AC;?

SWOT ANALYSIS

STRENGTHS • Strong brand association • Bulgari is part of the biggest luxury conglomerate, LVMH • The Bulgari brand is world-renowned and established therefore highly recognized by both luxury buyers and ordinary consumers • With strong revenue streams from the jewelry, timepiece, fragrance and accessory market, branching into the hospitality field allows the brand to account for shifts in consumer preferences and have more presence worldwide • By extending to the hospitality industry, the company is investing in the long-term brand equity and growth of the brand • Bulgari’s rich Italian heritage has the convincing ability to virtually transport guests to Italy and its culture in their properties • Significant cross-marketing opportunity to reinforce the image of the brand and position itself as an innovative company operating in a variety of luxury sectors WEAKNESSES • Careful not to oversaturate the luxury hospitality sector with aggressive marketing • Lack of presence in the western hemisphere OPPORTUNITIES • The luxury hotel sector is growing faster than any other industry in the luxury goods sector • Unlike other luxury brands diving into the hospitality industry, Bulgari is the brand with the most hotels and resorts opened to date, with plans to open more • Great opportunity to build brand awareness THREATS • Competition of other luxury hotels in the market and other luxury brands trying to penetrate the same market • Geo-political turmoil

BRAND IDENTITY

PHYSICAL • Sumptuous • Opulant • Localized • White marble • Gold

PERSONALITY • Extrovert • Extravagant • Elitest • Sophisticated • Adventurous • Charismatic

RELATIONSHIP • Personalized • Customized • Closely knitted • Community • Inner circle

CULTURE • La dolce vita • Roman heritage

REFLECTION • Luxury native • Educated • Health oriented • Experiential seeker

SELFPROJECTION • I am powerful • I am unique • I am important • I am culture

BRAND EQUITY

IDENTITY Brand Awareness • Customers are well aware of the brand and its Italian heritage. Brand associations and awareness contributed to the successful brand stretch into hotels and resorts. Customers have heard about it and they talk about it due to the exposure and opening of new stores and store remodels. Buglari’s spas and restaurants are top destinations for locals in each city. Brand Salience • Bulgari has the brand residence in terms of luxury brand extensions. Bulgari is also the gold standard in terms of luxury travel & hospitality. High brand salience in jewelry, watches and hotels. Brand Building • Behavioral loyalty gives customers the opportunity to visit the bar, go to the spa, stay at the hotel or buy a beauty product • Global presence • Classified in the top luxury hospitality sector • The brand stands out but has strong competition against traditional hospitality • The USP is rich brand heritage MEANING Performance • Style and design - modern Italian design • Serviceability - one of kind experience tailored to each guest • Price - high-end pricing inline with core consumer • Product reliability - trust in our brand connected to the positive brand awareness of jewelry and watches Imagery • Social need - exclusive community, inner circle for elite locals and travelers • Psychological need - need to feel important and attended to Brand Building • Performance - Guest experience and unique personalized service - Our product exceeds customer expectations

• Imagery - Our brand meets our customer’s needs on a social level by making them feel unique, important, special and part of a community RESPONSE Judgments • We offer top of the line service; therefore, the judgments are actual and perceived. Customers view Bulgari as trustworthy and credible because of our positive brand association • We are relevant to our customer’s needs and experiences because consumers are looking for experiential luxury • Our brand is superior compared to other luxury hospitality brands Feelings • Excitement • Social approval • Security • Powerful Brand Building • Nurture brand awareness • Our marketing strategy needs to focus on brand awareness • Superior to our competitors • Brand awareness to create excitement RELATIONSHIP Brand Resonance • Behavioral loyalty - Bulgari Hotels & Resorts is too new of a brand • Attitudinal - high sense of community and belonging to the brand • Active engagement - local consumers and seasonal travelers Brand Building • Unique travel experiences • Create a specialized trip such as wellness, education, and heritage journeys

B RA N D ST RAT E GY

UNIQUE REVELATION A word that would describe the Bulgari brand is timeless. The products that are produced are innovative but yet grounded to the rich heritage and history of the brand. Today, these pieces that have been created throughout time are seen as collectibles to both the brand and consumer. With the celebration of the 130th anniversary of Bulgari - the brand restored the Spanish steps which signifies the growth and endless opportunities of transforming the brand. When Sotirios moved his family business to the city of Rome, little did he know that his fine silver and jewels would be associated with the eternal city - creating everlasting timelessness. BRAND RITUALS Bulgari Hotels & Resorts ensures their services will be tailored to the needs of each individual. The Bulgari experience begins before the guests arrive at the hotel with a meet and greet airport arrival, limousine service, and valet parking. Once the guests arrive, hotel services offer complete office support for the business traveler; private access to iconic local attractions or a personal shopper to help navigate the local retail experience. Bulgari Hotels & Resorts will provide services to ensure a seamless and memorable stay. BELIEF SYSTEM Bulgari has become an established Italian brand inspired by the rich Roman history, honoring its culture and heritage through modern design, and products and services ranging from jewelry, watches to hotels & resorts. Bulgari is in complete harmony with the Roman ancient history incorporating the city’s symbolism while creating innovative designs. A quote by, Richard Burton states “The only word Elizabeth knows in Italian is Bulgari.” Elizabeth Taylor being one of the most iconic celebrities to wear the brand. This statement signifies how diverse and extraordinarily popular the brand has been. Bulgari has managed to reinterpret the beauty of the Roman era though iconic designs and the use of rare gemstones. DISTINCTIVE LEXICON Bulgari or Bvlgari? The distinct symbol of the letter “V” is derived from the classic Latin alphabet, honoring the rich Italian heritage of the brand. The use of the “V” tributes to Bulgari’s strong brand heritage and was launched in 1934. The Bulgari spelling honors the company’s Greek founder, Sotirios Voulgaris. In order to honor this, we will name our spa and bar within each resort location, V Bar and V Spa, to make it more distinctive for our customers.

MARKET OVERVIEW

The travel and tourism sector has a compound annual growth rate of 10.4%. This is creating jobs, driving exports, and generating prosperity across the globe. The global luxury hotel and resort market has forecased an increase of 1.5 Billion USD by 2025. The luxury hospitality sector will report a 4.3% compound annual growth rate by 2025, with the luxury resorts and spas compound annual growth rate to reach a little over 5% by 2025. The new luxury traveler or lifestyle traveler desires chic and unique destinations and a deep sense of community. The growth in experiential travel, modern technology, and personalized/exclusive experiences coupled with the rise in disposable income has increased the leisure travel market. Bulgari Hotels and Resorts, owned by LVMH, is operated by Marriott International. Marriott is the largest luxury hotel group, as they also operate the Ritz Carlton, J.W. Marriott, and the St. Regis Hotels & Resorts. We chose St. Moritz because not only does it tie back to the history of Bulgari as a summer destination where Sotirios sold his jewels, but it is known as the top luxury Swiss ski region in the world. Capri was chosen due to its tie to Italian heritage while providing a beautiful and scenic getaway for celebrity and the super rich. Lastly, St. Barth was chosen because we would like to expand to the western hemisphere - and what better place than the prestigious and exotic Caribbean island of St. Barth.

ST. M O R I T Z 2 024

LOCATION & SIZE St. Moritz is located in Switzerland’s Engadin Valley which forms part of the Swiss Alps and the canton of Graubünden. It sits at an elevation of 1,800 meters above sea level and has a total area of approximately 29 square kilometers. The resort began as a top destination for alpine tourism in 1889. St. Moritz is both the second most important ski resort in Switzerland as it is the most expensive after Zermatt. Nevertheless, it is widely known for being the leading luxury alpine resort of the country before Zermatt and Gstaad. St. Moritz receives approximately 666,000 visitors per year, mostly during the ski season. The ski season is the high season for the resort which usually starts in December and lasts until April. Nevertheless, St. Moritz is open year-round and many visitors enjoy the summer weather of the Engadin Valley. St. Moritz is characterized by top-class restaurants, a diverse array of luxury fashion stores and boutiques, hotels that set standards in every category, and events of international caliber. The current majestic first-class hotels are the reason why St. Moritz became known as a sophisticated holiday resort around the world. Overall, its visitors range from illustrious guests from the worlds of culture, entertainment and politics worldwide. Specifically, celebrities which have chosen to vacation in St. Moritz include Alfred Hitchcock, Brigitte Bardot, Henry Ford, the Kennedy’s, Charlie Chaplin, Thomas Mann, Greta Garbo, Ronaldo, the Shah of Iran, Kate Moss, the Swedish royal family, Claudia Schiffer and Robert De Niro among many others. GROWTH & OPPORTUNITIES St. Moritz will experience growth in the future and there are a lot of opportunities from which we will be able to benefit. An overall rise of disposable income in the years to come and a global shift to experiential luxury in travel will bring more tourism to the area. Additionally, the luxury hotel sector is set to continue growing as well, therefore there will be demand and room for more 5-star hotels. Specifically, Auberge Collection, a luxury hotel chain will open a new 5-star hotel in St. Moritz in 2020. This demonstrates how the resort industry is growing and there is a strong demand for luxury hospitality in the area. Additionally, the tourism bureau of St. Moritz estimates that in the next 5 years, the resorts will have a 20% increase of overnight hotel stays. This increase in tourism will come specifically from people of the United States, Russia, United Kingdom and Japan. This is a shift compared to most of the visitors it receives at the moment which come from Switzerland, Belgium, France and Germany. Additional growth will stem from visitors coming from China. This is because the name St. Moritz is trade-marked and is currently building one of the most extravagant and expensive living complexes’ in Shenzhen, China. The climate in that area is very warm and sub-tropical. Therefore, it is estimated that Chinese tourists dreaming of a cooler escape could secure approximately 20,000 hotel nights in the years to come as well.

COMPETITIVE LANDSCAPE As previously mentioned, St. Moritz has some of the best 5-star hotels in the world and it sets global standards in luxury hospitality as well. At the moment, there are six 5-star hotels currently operating in the resort with an additional one opening in 2020 and Bulgari Hotel opening in 2022. Nevertheless, the top three hotels in the resort are all owned by Leading Hotels of the World and they are as follows: Kulm Hotel The Kulm Hotel is a 5-star hotel located in the heart of St. Moritz. It is one of the largest hotels in the area comprised of 164 rooms and suites, six restaurants, three bars and a nine-hole golf course. Additionally, it also has one of the best spa’s of the area which recently underwent a $10 million-dollar renovation complete with a Finnish sauna and saltwater grotto. The hotel was founded in 1928 and therefore has been part of the resort for a very long time. It is currently undergoing renovations by French star-architect, Pierre-Yves Rochon. It is known for its ultimate elegance and luxury which ensures total comfort for all of its guests. The rooms and suites also offer views of the impressive mountain landscape of St. Moritz. The property was awarded hotel and spa of the year for Switzerland, 2018. Badrutt’s Palace Hotel Badrutt’s Palace Hotel is an icon of St. Moritz as it was founded in 1889, just when the resort was distinguished as one of the top locations for Alpine tourism. It is a 5-star hotel comprised of 156 guest rooms, 40 additional suites, eight restaurants, three bars and even one nightclub. Specifically, one of the restaurants has earned one prestigious Michelin star. It is also no surprise that this hotel is known for its legendary New Year’s Eve parties, which are not to be missed, as they are a top place to see and be-seen. Badrutt’s Palace Hotel can be distinguished from the other top hotels in the resort in that it strives to treat every guest as a VIP. Its most well-known service is picking up guests from the train station and driving them back to the hotel in a Rolls-Royce, where they are awaited in their suite by their own personal butler. Overall, it is elegantly decorated - serving ultimate luxury while preserving their history in style. Carlton Hotel The Carlton Hotel is a 5-star hotel that is currently the most modern out of its competitors in that it recently underwent a multi-million-dollar renovation. It is somewhat smaller than the other properties as it is comprised of 60 individually designed suites which view Lake St. Moritz. It is well-known for its extravagant and luxurious interior, fine cuisine, and exclusive and private atmosphere. It also has a restaurant with a Michelin star, a three-floor spa, and a 24-hour Bentley limousine service to chauffer guests within the resort.

CAPRI 2026

LOCATION & SIZE The Island of Capri is located in the Gulf of Naples off the southern coast of Italy – a few miles from Sorrento and the Amalfi Coast. This island itself is10 square kilometers. The island is divided into two municipalities: Capri and Anacapri. Capri is known for its shopping and nightlife. The center of Capri surrounds the Piazzetta – which is the main area for shopping and cafes. Anacapri is great for quiet and relaxing walks or hikes along the countryside. As of right now, Capri gets over 2 million visitors a year according to the Mayor, Giovanni De Martino. There are approximately 26 luxury hotels and 8 luxury villas on the island of Capri. The most beautiful months to visit Capri are in May, June, and September. During these months – the majority of restaurants and shops are open and hotels offer special rates. The sea is warm and the island is quiet. The most anticipated tourist season occurs during July and August. As most of the Italian visitors come during these months. The tourist season in Capri ends beginning of November and most hotels, restaurants and shops close for the winter and reopen in March or April. During March, April and October, the hotel prices are lower. It is a great time to visit Capri because the colors are beautiful in spring and autumn while the temperatures feel like summer. From November through February, the island loses its sheen and becomes a sleepy village. Travelers who come during this time of year can truly experience what it’s like to mix with the locals at the Piazzetta. GROWTH & OPPORTUNITIES Italian luxury hotels have seen a 4% growth rate in 2018. Capri in particular, is the trending hotspot amongst youth and celebrity. Consumers are shifting in behavior towards experiential luxury and spending more on travel. Italy is a top tourist destination due to its art, culture, and tradition. Travelers are seeking relaxed elegance and experiences that feel real and authentic. Capri meets these expectations. The most important nationalities staying in luxury Italian hotels remain US, UK, Germany, France, and Russia. The young, Chinese millionaires have high propensity to spend on experiential luxury. Therefore, they are continuing to seek travel destinations and it’s important to segment them in our future.

COMPETITIVE LANDSCAPE Morgano Hotels Capri (SIA Srl) Morgano Hotels offer timelessly elegant luxury hotels in Capri. Three hotels comprise their collection: Grand Hotel Quisisana, La Scalinatella, and Casa Morgano. Through their personalized hospitality, Morgano offers a concierge service that will plan your island holiday. Grand Hotel Quisisana Acquired in 1981, this hotel is a five-star resort that has over 150 rooms – said to be the most elegant rooms and suites on the island. This iconic hotel is in the center of the action with a illustrious history. Located right on the steps of the famed Piazetta with exclusive designer boutiques of Via Camerelle and the turquoise Mediterranean. Grand Hotel Quisisana offers a luxury spa, panoramic pool, two tennis courts, historic theater, and event venues for meetings and weddings. As well as scenic terraces where guests can get lost in Capri’s scenery. Quisisana means “here on the heals” in Italian - the QuisiBeauty spa takes care of the guests physical and mental well-being. Recharging the mind with a indoor heated swimming pool, face and body treatments, as well as manicures and pedicures. The hotel also offers guests an endless buffet breakfast in Il Quisi, and a mediterannean cuisine from lunch to midnight in “Rendez-Vous.” The informal “Columbaia” offers wood-fired Neapolitan pizza and other traditional specialties from lunch through afternoon. As the Quisi Bar is the perfect place for snacks and cocktails. La Scalinatella This hotel is for those looking for a romantic getaway that is adults-only. This location is also away from the bustle next to stunning views of the sea. This is also a five star hotel that offers impeccable service accomodations. There are over 30 rooms that offer private terraces that overlook the sea. This hotel offers massages as well as face and body treatments within their own room. It doesn’t offer a spa – and guests are invited to use the QuisiBeauty spa that is a three-minute walk away. 31

Some of the services and amenities of this small boutique accommodation include two panoramic swimming pools, a poolside restaurant and snack bar that overlooks the sea, a hi-tech gym, and full concierge service to book daytrips and private sails. Casa Morgano With just 20 rooms, Casa Morgano is the perfect spot for a honeymoon. This hotel has the most panoramic views on the island of Capri as it is tucked into a Mediterranean garden with endless views of the sea. Within a spacious terrace, Casa Morgano offers a swimming pool with poolside dining. There is also a fitness room accompanied by a personal trainer. Capri Palace Hotel & Spa Owned by Mytha Hotels, The Capri Palace Hotel & Spa is where history meets modern art on the Island of Capri while offering cultural and culinary delights. This Hotel & Spa is situated in the northwest corner of Capri in the peaceful town of Anacapri. Tourists come to this area to admire the Blue Grotto sea caves. This hotel has 68 immaculately designed guestrooms that offer a blend of understated luxury and contemporary style. The rooms are made up of unique materials which include black marble and bright colored tiles made from the Amalfi Coast. There are a variety of rooms to choose from – including suites that are dedicated to 20th century artists. The Mediterranean spirit is evoked in the stylish rooms with columns, sparkling white and bright blue colors, and superfine fabrics and linens. This hotel offers the exclusive Capri Beauty Farm by the world class medical spa facility, Mytha Spa. The Mytha Spa is award-winning and offers a holistic spa experience. This spa is staffed with doctors, therapists, beauticicans, and dieticians. Guests receive wellness plans and treatments that are targeted towards each individual. This could include weight loss, detox, anti-aging, and stress management. The spa includes massages, thalassotherapy, mud cures, and traditional beauty care. There is also an innovative program to improve one’s posture. 32

The Capri Palace also has two Michelin-starred restaurants, L’Olivio an Il Riccio. These resrtaurants offer catering for corporate gatherings, high-level conferences, and banquets. As for services and entertainment, the Capri Palace offers an outdoor swimming pool, Il Riccio Beach Club, Mariorita Concept Store, private transfers, and boat excursions. The hotel also offers extraordinary indoor and outdoor venues for special events. J.K. Place Capri J.K. Place Capri is a resort getaway – their philosophy is the comfort of feeling at home while being surrounded by precious details. They are also a luxury hotel that offers elegance and guest service. The styling of J.K. Place Capri echoes the style and concept of a luxury house. It is inspired by the coastline of Capri – spacious, light, and colorful. It offers a artful revival of the classical style while bringing in the nautical Mediterranean into each room. The hotel offers two restaurant locations, the JKitchen as well as the Lounge Bar & Restaurant. The JKitchen is chic and charming that serves Mediterranean cuisine on their panoramic terrace throughout the day. There is also a bar that offers a sophisticated ambience where you can enjoy a nice glass of wine. The Lounge Bar & Restaurant is the perfect place to enjoy chef created finger foods and signature cocktails that are offered anytime of the day. The J.K. Spa provides the ultimate wellness experience that leaves one feeling relaxed. The spa offers a steam room and beauty therapies. Some of the spa treatments include massages and facials.

ST. BART H S

ST. B A RT H E L E MY 2028

St. Barthelemy is located east of Puerto Rico and the Virgin Islands and lies southeast of St. Martin and Anguilla. France first claimed St. Barth in 1648 but later given to Sweden in exchange for trade rights in Gothenburg. Later, the eight square mile island was sold back to France in 1878. Present day St. Barth’s is considered a playground for the rich and famous. The island is known for beautiful beaches, chic gourmet bistros, and high-end shopping. St. Barth’s is home to twenty-five luxury hotels with most establishments only having 15 rooms or less along with 21 pristine beaches. The largest hotels on the distinctive island offer fifty-eight rooms or villas. The villa vacations are extremely popular with around four hundred terraced suites ranging from one bedroom to large luxurious homes. St. Barth’s is best known for the fishing industry and tourism with a population of 8,823 and over 200,000 visitors per year. The best time to travel is between April to June, and December to March being the high season. Bookings during the high season normally require six months advance confirmation with a ten day stay minimum. In December of 2018, six luxury hotels reopened after Hurricane Irma devastated the island with officials forecasting to have a record number of visitors. Celebrities and members of the British Royal Family are known to vacation on St. Barths: Kate Middleton, Prince William, Pippa Middleton, Beyonce and Jay Z, Derek Jeter and Victoria Secret models such as Miranda Kerr and Kendall Jenner. GROWTH AND OPPORTUNITIES The Caribbean was chosen as the top travel destination for 2019. St. Barth’s is a hot spot for heritage travel, be-seen beaches, and experiential travel. The growth in tourism and the rise in affluent leisure travel along with a number of international events hosted on the island, make St. Barth’s the top growing Caribbean island. Localization is a key growth opportunity for Bulgari Resorts and Spas, with more Europeans buying homes or villas on the island for possible second homes or adding to the share economy trend. COMPETITIVE LANDSCAPE Cheval Blanc St. Barth Cheval Blanc St. Barth Isle de France, located in Flamands Bay is often considered the pristine beach on the island. Cheval Blanc St. Barth recently was acquired by LVMH (Lois Vuitton Moet Hennessey), the French luxury conglomerate, making it their third acquisition. Chevel Blanc St. Barth consists of forty spacious villas, suites, and rooms decorated with clean lines, classic furnishings, and natural bespoke linens. Each room is individually designed with the shared elegant whitewashed decor with touches of taupe and signature pink accents. All rooms have airy marble bathrooms with freestanding tubs, a rarity for the island, furnished with lux Guerlain products and amenities. Cheval Blanc St. Barth pays attention to the smallest details - including a signature tropical Guerlain fragrance by Thierry Wasser, floating through the entire resort. The resorts experienced “alchemists” provides guests with customization at every point of their stay, from packing lunches for a deserted island excursion or arranging a sunset cruise around the island. The resort includes a stateof-art fitness center with private trainers and Technogym machines. Cheval Blanc is home to an idyllic spa with personalized Guerlain created treatments and hosts two world-class yacht racing events, Bucket Regatta in March and Les Voiles de St. Barth in April. The resort offers three restaurants for guests to enjoy the taste of France. La Case de L’Isle is located on a lovely verandah and features sophisticated plates like sea scallop Carpaccio perfumed with green apple and pomegranate-lime vinaigrette, and a house-made ravioli stuffed with sheep’s milk cheese and sage butter. At the more casual La Cabane de L’Isle, diners relax during a feet-in-the-sand lunch of lobster risotto, local fish and fresh salads. Poolside, the White Bar serves up refreshing cocktails and tasty snacks all day long. Once a month, a notable Champagne brand (Moët & Chandon, Dom Pérignon) hosts a glamorous pop-up lounge on the edge of the magnificent freshwater swimming pool.

Hotel Le Toiny Hotel Le Toiny is a French family-owned operation located on 42 acres and offers a private sanctuary for guests. Originally owned by Michael Chen and Raymond Balsen of France, Hotel Le Toiny is now owned by Charlie and Mandi Vere Nicoll. The small, hands-on hotel offers 22 residential-style villas with fine linens, handmade furnishings, and a neutral color palette with pops of blue. London based designer, Lady Bee Obsurn re-modeled the hotel after Hurricane Irma - from a traditional French retreat into a chic coastal property. The 22 residential villas have bleached wood floors, mother of pearl and sun-bleached teak accents. The hotel is located on the undeveloped south side of the island - preserving the landscape of cacti and rare Gaiac trees. The location provides a refuge for people wanting to skip the party life known in St. Barths, often referred to as the most romantic place on the island. Hotel Le Toiny offers a small private gym, private yoga and pilates classes, and a Serenity Spa Cottage. The new Hotel Le Toiny beach club is structured around two cottages that dates back to the 1700’s. The property offers, Le Toiny Restaurant, concocting innovative French cuisines such as the signature spaghetti with black truffles and parmesan and lobster with curry and coconut. Eden Rock Eden Rock - St. Barths legendary resort was the first hotel on the island. The ultra-luxe resort is located in the middle of St. Barth’s de St. Jean - attracting the international in-crowd with 34 villas nestled upon a rock overlooking a coral reef. Eden Rock is located near the island’s best shopping, dining, nightlife, and water sports activities. Each villa is designed with traditional elegant four-poster beds to sleek contemporary sofas accented with antiques, original fine art, European linens, and technological playthings. Management is careful of cosseting high profile guests, which is a significant draw for Eden Rock. Eden Rock offers a variety of water sports, yachting and fishing excursions, along with personal fitness training and yoga. The spa offers a variety of personalized massages in your villa or private beach overlooking the aqua blue ocean. Guests can enjoy international cuisine with an island flair by Jean-Georges Vongerichten at Sand Bar and soon-to-be Remy Bar. Guests can also savor expertly prepared cocktails and flavorful international bites at Rémy Bar, where a casual British-colonial vibe invites you to unwind in style. A lavish daily buffet breakfast is included in the room rate and available only to hotel guests.

KEY SUCCESS FACTORS CUSTOMER SERVICE Customer service is integral to the success of a resort operation. The front desk representative is the first point of contact and the service they provide leaves the first and last impression. Therefore, staff needs to be knowledgeable as well as friendly. From every area of the resort experience – whether it’s at the spa, restaurant, bar, or concierge – service needs to be impeccable. LOCATION Resorts are able to thrive when they offer their guests unique experiences. One way to provide that uniqueness is through location. When resorts are placed in different geographic locations – guests are able to book their stay in an area in which they can experience. AMENITIES The customer chooses the hotel or resort based on the assortment of top quality amenities such as the spa, bar, restaurant, personalized rooms and suites. This is chosen by not only the travelers but the locals as well.

CO M P E T I T I V E A DVA N TAG E S INNOVATIVE SERVICE Bulgari Hotels & Resorts aims to be the leading luxury hospitality collection in the world. This is done with a flawless and innovative luxury service concept that elevates guest experience. This service model is informal yet impeccable. LOCATION As of right now - Bulgari Hotels & Resorts are comprised of a few, selected properties. These properties are in luxury neighborhoods of cosmopolitan cities and prestigious areas of luxury resort destinations. DESIGN Each hotel & resort references the local culture that’s designed with an Italian, contemporary, luxury feel. Each enriched with lavish materials and designed furniture with custom built details. LIFESTYLE ORIENTATED What makes Bulgari Hotels & Resorts unique is that they offer the idea and concept of lifestyle travel. Travelers come to Bulgari Hotels & Resorts to book their stay in one of the fabulous rooms, go to the spa, and the restaurant to experience the Bulgari lifestyle. This lifestyle has been made possible with it’s rich heritage and excellence, celebrity, and associations to high-end jewelry.

FUTURE TRENDS

PERSONALIZATION The personalization for guests begins before arrival. This allows the resort and spa to tailor the experience to the guest needs. For example, guests can request particular personal needs and wants during their stay. This service will increase brand loyalty, building brand equity and brand density in the process. CUSTOMIZATION Customization begins during the booking process as guests can select room categories, package types, rates, and resort amenities. SUSTAINABILITY Bulgari Hotels and Resorts will continue to strive to meet the high expectations of consumer awareness in sustainability by reducing carbon footprint and water and energy usage. LOCALIZATION Bulgari Hotels and Resorts will continue to mix their traditional Italian heritage and local cultures. Each new location will focus on offering amenities to the local residents providing a fashionable destination in each city. DISCRETE TECHNOLOGY Bulgari Hotels and Resorts will implement the newest modern technologies while continuing to provide a seamless stay for guests. This will only enhance the guest experiences. GLOBAL MOVEMENT The world is becoming smaller and consumers are able to access more information, making travel destinations more accessible. Moreand more people are wanting to see the world through travel experiences and adventures. Travel has become easier through advancement in technologies and industrial engineering.

TA R G E T CO N S U M E R

Resources: INCOME

INCOME Money Machine

WEALTH King ATTITUDE VS. LUXURY

TIME Leisure Time

Resources: WEALTH

CONNOISSEURSHIP Luxury Native ATTITUDE VS LUXURY Opulent

92 LEVEL OF CONNOISSEURSHIP

92 Resources: TIME

Jack Williams lives in London and is 45 years old. He has a networth of 15 million USD. His wealth derives from his occupation as a surgeon while inheriting money and skills from his family. Jack went to Harvard Medical School. Some of his interests include fine culinary experiences, yacht racing, traveling the word, and wine connoisseurship. He believes in making memories while spending lots of time with his family. He donates generously to several charity organizations. Jack uses technology to shop online and book travel. He prefers a sober, discrete style vs. snobby, glitzy products.

TA R G E T CO N S U M E R

Resources: INCOME

INCOME High Flyer

WEALTH Financially Free TIME Balanced

ATTITUDE VS. LUXURY

Resources: WEALTH

CONNOISSEURSHIP Luxury Explorer ATTITUDE VS LUXURY Superstar

85 LEVEL OF CONNOISSEURSHIP

80 Resources: TIME

Caroline Receveur lives in France and is 35 years old. She has a networth of 2 million USD. Caroline is an actress and fashion blogger. She received her education from the Guildford School of Acting. Some of her interests include theater, photography, fashion, fitness, art, international vacations and date nights. Caroline believes in her self-image and is very concious of her appearance. Caroline uses technology for social media on a daily basis while also shopping online. Some of her favorite brands that she identifies with include: Hermes, Sandro Paris, Danielle Rollins, Maison Michel, and Isabel Marant.

GOALS & OBJECTIVES

GOAL Bulgari Resorts & Hotels has a goal to continue being the leading luxury hospitality collection in the world. Our goal will be achieved through the successful implementation of our objectives. OBJECTIVES Nurture To keep on nurturing the Bulgari brand to continue building brand equity. Grow To open three new successful resort destinations over a time span of ten years in St. Moritz 2024, Capri 2026, and St. Barths 2028. Tailor To tailor service and experiences to specific needs and wants of each consumer through customization and personalization. Locals To develop world-renowned spas, fine dining experiences, and unique bar atmospheres that appeal to locals in each of our property locations.

ST RAT E GY O V E RV I E W

Our strategy in order to grow and build brand equity for the Bulgari Hotels & Resorts brand is to open three new hotels in the specific locations of St. Moritz, Capri, and St. Barths. We have chosen these places to expand the resort side of our luxury hotels collection because of each locationâ&#x20AC;&#x2122;s ability to aid us in servicing the future trends of luxury travel. Each resort offers the opportunity for us to meet the future travelerâ&#x20AC;&#x2122;s needs of engaging in luxury lifestyle travel and partaking in authentic culture and experiences. Ultimately, these resort locations will also bring us consumers from our competitors - stemming from our strong positive brand associations. St. Moritz Bulgari Hotels & Resorts will benefit positively from opening a hotel in St. Moritz in 2024 because of the strong history that this resort has with the brand. The founder of Bulgari, Sotirios Boulgari, spent his summers in the elegant and chic mountain resort to attract upscale travelers. He ultimately achieved a resounding success that he decided to open a permanent location in the resort in 1906. The Swiss resort represents a milestone for the brandâ&#x20AC;&#x2122;s international expansion during its early years. Returning to this location for the opening of a hotel is a romantic story that the brand can showcase to the consumer in order to build brand equity. St. Moritz has also become one of the most expensive ski resorts in the world and has the leading luxury hospitality collection in the world. We want to be among the top locations as well. Capri The island of Capri is nothing short of luxurious. Capri is said to be an escape from the mundane as one basks in the blazing sun, swims in the Blue Grotto, shops the opulent La Piazzetta, or strolls amongst the gardens and lemon trees. Capri has villas that are dripped with wisteria and bougainvillea, steep and majestic cliffs that overlook the blue sea - Capri is stated to be the most scenic place in the world. With the Italian culture, art, and heritage interwoven into the Italian island - travelers come here as a destination to enjoy a real and authentic experience. Capri is known for being a preserve for celebrities and the super rich. A Bulgari resort would do well here do to its roots in Italian heritage while catering its business to the clientele that steps off the boat to visit this beautiful island. St. Barths St. Barths has been voted the top destination for Caribbean travel. The small island has stunning terrain with pristine beaches and the chicness and glamour that comes when traveling in south France. St. Barths has become the desired winter vacation for the rich and famous - offering French-inspired cuisine, high-end shopping, water activities, and yachting. Home to some of the most gorgeous hotels and villas, Bulgari Hotel and Resorts will offer one of a kind experiences for guests while maintaining the strongly rooted traditions of Rome. Nevertheless, St. Barths has become a top choice for European travelers - making the location a bridge to the west for Bulgari Hotels & Resorts.

UNIQUE SELLING PROPOSITION

The unique selling proposition (USP) of the Bulgari Hotels & Resorts brand is the ability to customize and personalize service to each customer. This is done by providing the rich, Roman brand heritage, that is ever-present in the aesthetic and Italian dolce vita lifestyle of each location.

LUXURY I N G R E D I E N TS

BRAND PURPOSE Bulgariâ&#x20AC;&#x2122;s original brand purpose was about bringing joy and happiness to the women who wore their jewels and ultimately celebrating the Roman culture. This strong purpose is what has allowed the brand to successfully extend into the luxury travel and hospitality sector. The brand DNA is rooted in bringing the Italian dolce vita lifestyle to their customers, which is all about the original brand purpose; celebration, joy, and happiness. The brand purpose will continue to build brand equity through excellence, uniqueness and artistic expression. Excellence The excellence of the brand stems from the ability to deliver top of the line service and experiences to its customers. Uniqueness The uniqueness of Bulgari Hotels & Resorts can be attributed to the implementation of customization and personalization of services towards its guests. As well as the localization of properties that become emblematic to their geography for both travelers and locals alike. Artistic Expression Bulgari has contributed greatly to the contemporary art world. This is seen throughout the jewelry, in-store design, and beauty and grandeur of the hotels & resorts. The rich brand heritage and aesthetic value are instilled into everything that Bulgari produces. PRODUCT Bulgari and its strong rich heritage to the Roman culture provide excellent craftsmanship and service for its customers. This leads to high brand salience and brand density through the brandâ&#x20AC;&#x2122;s extension into the luxury hospitality sector, building brand equity for Bulgari. Bulgari Hotels & Resorts will continue to build brand equity through customization and personalization, as a source of sublime and multisensory aesthetic experience and natural scarcity. Customization & Personalization Bulgari Hotels & Resorts implements customization and personalization into each one of its properties in order to fill the aesthetic, functional, symbolic and ephemeral values of its customers. The process of tailoring to the needs and values of each consumer begins before they arrive. Source of sublime and multisensory aesthetic experience Each visit to a location for either a guest or local is a source of sublime and multisensory experience complete with fine dining, top of the line spa, superior customer service, luxurious rooms & suites, and localization of activities. Natural Scarcity The natural scarcity of the hotels and resorts aim to provide discreet and private locations for guests or locals.

PRICING Bulgari Hotels & Resorts will implement a dynamic pricing strategy for its opening in St. Moritz, Capri and St. Barths because of the seasonality of the locations. Setting a benchmark price of at least $1,500 USD per night will help reinstate who we are in the luxury hospitality market. During the high season, our competitors have an average price of $1,000 to $1,2000 USD per night. Therefore, our higher pricing strategy helps build brand equity for Bulgari because of the Veblen effect. Veblen Effect The Veblen effect explains the price and quality of a product. The higher the price, the higher the perceived quality. Pricing our rooms at $1,500 USD per night positions the brand as a superior choice in comparison to our competitors. PLACEMENT In order for the placement of each of our future resorts to be successful, we plan to use top of the line travel concierge services, online travel agents and preferably the Bulgari Hotels & Resorts website. This multi-channel placement strategy will help Bulgari build brand equity through the principle of cumulative attractiveness, travel platforms, and quality sales personnel. Principle of Cumulative Attractiveness The principle of cumulative attractiveness explains how similar brands are located in close proximity to each other. St Moritz, Capri and St. Barths are strategic locations that help build brand equity for Bulgari because they can be characterized by luxury and extravagant lifestyle. Nevertheless, our strong brand presence will distinguish us from our competitors. Travel Concierge Services Our partnership with some of the most prestigious and exclusive travel concierge services such as; Quintessentially, Knightsbridge Circle and Jetsetter, among others will guarantee our resorts clientele. While online travel agents will make sure that we will be able to attract more consumers due to our positive brand associations. Direct Booking Promotes online booking directly through the Bulgari Hotels & Resorts website. Quality Sales Personnel Top quality staff is imperative for the placement of our resorts because they can help guarantee positive consumer experiences which leads to repeat customers in our other hotel locations. Lifestyle Services Lifestyle services will instigate relationships with luxury lifestyle services such as American Express Black Card concierge.

PROMOTION Bulgari Hotels & Resorts, as an established connoisseur brand, has specific objectives and codes which apply to how we will promote our resorts. We will inform our customers on our excellence, uniqueness and artistic expression. As well as our purpose of providing joy, happiness, and the ultimate Italian dolce vita. We will strive to showcase our rich Italian heritage while focusing on meeting our customerâ&#x20AC;&#x2122;s aesthetic, symbolic, functional, and ephemeral values. Our promotion strategy will include influencers, travel enthusiasts, and travel magazines. Social Media We want to utilize different social media platforms to demonstrate our excellence, uniqueness, and artistic expression. Through these platforms we can also target different types of consumer like the millennial luxury explorer and the mature luxury native. PR Initiatives Our PR team will ensure that we are featured in travel magazines and sites that we identify with for promotional purposes include; Conde Nast, Travel & Leisure, Vogue, Vanity Fair, Departures, Saveur, and GQ. This wide range of magazines and sites appeal to consumers of different backgrounds while remaining in line with our brand image. As well as offering our hotel for important celebratory events like weddings. PEOPLE The people that represent Bulgari Hotels & Resorts both inside and outside of the brand will help us build brand equity by representing our true identity of tailored customer service and rich Italian brand heritage Inside the Organization Inside the organization, the brand is represented by everyone - from the CEO, to the chauffeur who picks up the guest at the airport, to the doorman that greets them upon their arrival. The Bulgari staff are the face of the brand and they play a significant role in representing the resortâ&#x20AC;&#x2122;s purpose. The excellent level of training and superior customer service are key to building brand equity as it will guarantee that each customer receives unparalleled service that is incomparable to that of any other hotel. This includes greeting guests by their name and assigning personnel to each guest in order to anticipate their needs. Outside the Organization Outside the organization, there are people that have helped the brand acquire positive brand awareness through associations. The Bulgari family plays a key role in preserving the rich Italian heritage as they represent the epitome of the Bulgari brand. This is also acquired through the unique architectural designs of Antonio Citterio Patricia Viel and Partners who are employed to build each of the Bulgari hotels. As well as top Italian chef, Niko Romito, who is the mastermind behind the Italian restaurants inside the Bulgari Hotels. Bulgari Hotels & Resorts ultimately represents the best of Italian culture in every aspect of their hospitality. Genuine endorsements from celebrities through PR initiatives such as, Tom Brady, Giselle Bundchen, the Beckham family, Anna Wintour, and Chiara Ferragni. Travel enthusiasts are a very crucial part of the promotion of our resorts because these target customers are the opinion leaders which will recommend our hotels to others in their niche communities. The travel enthusiasts will bring similar types of consumers which typically travel at least four times a year, desire unique and chic locations, and are looking to experience different places.

CONCLUSION

As we look into the next 10 years, we are excited to unveil the next three travel destinations for Bulgari Hotels & Resorts. As stated, we strongly believe that what sets us apart is our innovative service, location, design, and lifestyle orientation. As we continue to connect with our consumer, we believe that St. Moritz, Capri, and St. Barths will help build brand equity for Bulgari Hotels & Resorts. Due to the history & heritage, culture, and luxury lifestyle of the locations â&#x20AC;&#x201C; we believe this will be a successful expansion to our hotels & resorts collection.

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