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Quality vs Luxury Common Threads - Different Notions October 2005 Hotel Profit Conference, Warsaw

This presentation discusses the concepts of luxury and quality in the hospitality industry, and explores their relationship. It also highlights the importance of the luxury market and the different segments of luxury travelers. The implementation of quality improvement programs and the challenges faced in upgrading infrastructure are also discussed. Contact Dr. Aris Ikkos for more information.

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Quality vs Luxury Common Threads - Different Notions October 2005 Hotel Profit Conference, Warsaw

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  1. Quality vs Luxury Common Threads - Different Notions October 2005 Hotel Profit Conference, Warsaw Dr. Aris Ikkos Director JBR Hellas

  2. Contents • Luxury • Quality as a component of Luxury • Quality: an autonomous characteristic • Quality improvement programmes

  3. Importance of Luxury Market • 3% of tourists spend 20% of tourism expenditure => Spend per tourist - average for Greece $750 - top 3% ave spend $5.000 - remaining 97% $600

  4. Who are the Luxury Travelers? • They have time and money • Usually FITs, not in groups • Personal and Confidential Service • Demands that are: • “absurd” for average person • to be evaluated in light of amount spent • Well-Traveled & Adventurous • Sharp, Experienced, Informed • Young & Seeking VFM • Seeking Qualitative experiences

  5. Segmentation by Income • Tycoonscapable of fulfilling all material fantasies • Very Richdemanding; individuality & confidentiality • Richqualitative service all round

  6. Psychographic Segmentation • The Elite Luxury Loverin declineImage–status–exclusivity–ostentatious consumption • The Aspiring Luxury LoverElite copycat – financial limitations • The Luxury ExplorerIntense Feelings– Rare Places – Educated – Anti-snob • The Satisfied Luxury AdmirerOlder – Infrequent travelers • The Savvy Luxury Shopperrising trendSelf-made – VFM – Smart and Rational – Internet

  7. Common Requirements • High Quality Service • Seeking All-round Experience • Specialised travel agency • Transportation • Transfer • Hotel • Sightseeing and Entertainment • Other Tourist Enterprises i.e. Integrated Total Experience Approach

  8. Contents • Luxury • Quality as a component of Luxury • Quality: an autonomous characteristic • Quality improvement programmes

  9. A luxury hotel • 5 star Hotel and Bungalows • Private pools - Private beach • Spa, Watersports, 9hole golf • € 400 - 8.000 p.d.

  10. A quality hotel • Rooms & Suites • Next to the beach • € 90-220p.d. B&B

  11. Another quality hotel • Rooms & Cottages • € 65-110p.d. • 1km from beach • Self-catering

  12. and another • Self Catering Apartments, • € 60-160p.d. – Breakfast as Extra • Santorini Top Location

  13. A Quality Experience Environment & Infrastructure HotelService Hotel Infrastructure Quality Experience Other sectors Marketing

  14. Quality Guide Future Market Needs Current Standards

  15. Hotel Focus Standards Town Planning Quality Standards Material Service

  16. Public Private Partnership • Planning: • Project Team to include Private Sector • Implementation: breakdown of responsibilities • Public Sector: Laws, Regulations, Audits • Private Sector: Financing • Joint: Communication with Tourism Sector and joint Decision Making on Tough Issues

  17. Contents • Luxury • Quality as a component of Luxury • Quality: an autonomous characteristic • Quality improvement programmes

  18. Implementation of Quality Upgrading Policies • Croatia • Malta • Cyprus

  19. Results in Croatia

  20. Results in Malta

  21. Cyprus Options PossibilitiesKey Challenges • Change of Category Building Infrastructure • Upgrading Building Infrastructure • Change of Use Town Planning Issues • Withdrawal Town Planning Issues • Replacement Market Conditions • Τechnical Assistance for Marketing, Training

  22. Holistic Policy Making for Quality Upgrading Technical Assistance to SMEs FinancialSupport Alternative Solutions:upgrading,change of use,withdrawal Implementation:Control and Decision Making Laws & Regulations enabling & guiding market to adapt

  23. Thank you for your attention Dr. Aris Ikkos a.ikkos@jbrhellas.gr +30-210-3605002

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