However, the foreign investment climate has improved significantly in recent years, especially with respect to hotel development, including in Phnom Penh. A new system for lease registration has been developed that effectively allows for registering land titles, allowing foreign entities to take out 99-year leases on property, which otherwise would be subject to foreign ownership restrictions. Those restrictions on foreign ownership of land have stifled foreign direct investment in the past. As these rules change, Hilton's ability to build out a strong Cambodian asset base will improve. It is recommended that in order to obtain early mover advantages that Hilton get in front of this curve by taking out 99-year leases on properties, something other hoteliers have done already.
The hotel business in Phnom Penh is currently underdeveloped. There are few international players; most hotels are small operations owned by domestic firms either wholly or in partnership with firms from other Asian countries. Standards are relatively low. Business and tourism travel is growing despite the challenges of the past year. As the global economy improves, tourism is expected to revive and there is also a high level of demand for business hotels, in particular from corporate guests from around Southeast Asia. Phnom Penh's first skyscraper opened in 2009, and there are more such projects under way. The result will be an increase of businesses setting up in the city, and this will bring a rise in business travelers to Phnom Penh as well.
Hilton would occupy the high end of the Phnom Penh market. We would...
As tourism would surpass rice exports, in being the number one product or service that the nation provides. This has helped the industry to grow, with various tourists from around the globe going to these destinations and then talking about their trips when they return home. Over the course of time, this has caused many of these new travel destinations to increase dramatically in popularity. The information from this
Furthermore, Lebanon enjoyed a considerable increase (+26%) on the already positive trend experienced in 2003, despite a politically rocky patch following the assassination of former prime minister Rafiq Hariri. Minister of tourism, Joseph Sarkis, described the new Beirut government's commitment to "enhancing the promotion of tourism in different sectors and encouraging investments in the country, in order to make Lebanon a first-class tourism destination in the Middle East" (quoted in
One final possible advantage offered by Chile would be another new development in the travel industry, which is community-service oriented travel. The Hilton Corporation could work with the Chilean government to create programs whereby travelers could help provide assistance to certain needy populations and areas of the region, possibly even in areas not traditionally known of by tourists. This would satisfy a potential desire for adventure in the hearts of
Sunmee Choi & Anna S. Mattila (Cornell Hotel & Restaurant Administration Quarterly): The impact that a hotel can have on customers by sharing a frank and specific list of pricing practices ("revenue management" [RM]) is significant, according to a peer-reviewed journal article published in 2005. Choi & Mattila conducted a study of 120 travelers (all waiting for flights from Reagan National Airport in Washington, D.C.), providing them with three distinctly
In doing this, the company is able to cater to their needs and build customer loyalty. The article explains that such a strategy can also weed out customers that have failed to pay for their hotel rooms in the past (Kontzer). This makes the company more profitable and has added to the ability of the company to expand at such a rapid pace. The article asserts that the company
Business Plan1. Executive SummaryMission Statement: Our hotel provides a comfortable and convenient lodging experience for travelers visiting the Lumberton, NC area, a certified retirement community, where outdoor activities like fishing, golfing, kayaking and canoeing are plentiful (LumbertonNC, 2023). This hotel will strive to provide exceptional customer service, comfortable accommodations, and convenient amenities to meet the needs of our guests, who may be visiting Lumberton for the first time to see
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