Paper Example on Improving the Hyatt Hotels Corporation Brand in Trinidad and Tobago

Introduction

The Hyatt hotels corporation is an international owner, franchiser and a controller of resorts and hotels from the United States. The company's inception was after the buying of the Hyatt house whose location was in the Los Angeles international airport, which was back in September 1957. Sixty years later, in 2017; the company had grown to have ownership of properties in fifty-seven countries around the world. Trinidad and Tobago is one of those countries that the corporation has invested their business. The Hyatt Regency in Trinidad is one of the best places for visitors and people from the localities to be served in at all times. It is located in the downtown parts of the country and offers some suitable guest houses, the modern day and comfortable decors, fantastic dining restaurants, a view of the sea and many more compelling features of the corporation's Trinidad branch.

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The Hyatt Regency is found in the Spanish port and has been rated second in the region. Its location is one of the most significant promotion factors. It has its site on the vicinities of Port of Spain, national museum, Gulf of Paria and a few kilometers from Piarco international airport. This strategic position of the hotel is one among the many factors that can attribute to the greatness of the hotel. Then the Hyatt is a brand on its own. It has given a better name to Trinidad's branch. The services they offer are also of high quality as can be noted from the overview of the hotel. No guest would not like some association with the Hyatt.

It is located around the capital of the state, this is an added advantage that the hotel accrues. It is an epitome of the multinational hotels found around the country. With all these marks made around the country, this paper will research the hotel. The research will be a secondary one, in that, it will not be made on the ground but will be work cited from some other primary resource which will tend to be more precise. Secondary research is much faster, and if taken from a reliable source, it will give some useful, precise and relevant information. That is why I opted for the secondary research method.

The information that I am going to use in this case in point will be from the hotel's portal. It was created to make services for accessing and serving customers efficient. All the services they offer can be derived from there and with all their charges and rates stated. The portfolio is important and relevant at the same time because it has given all the information about the hotel, which is since the conception of the organization to the current day. With that available and crucial information too, I will start by looking at the background of the corporation.

Background of the Company

The Hyatt corporation inception can be dated back to September 1957. It was after the purchase of the Hyatt house which was at the Los Angeles international airport. It is the name of the house that gave the corporation the name Hyatt Hotels Corporation, where Hyatt was the name of the co-owner of the hotel earlier, Mr. Robert Hyatt. At the stated year 1957, it was purchased by an entrepreneur by the name of, Jay Pritzker, with the support of his younger brother under the name of Donald. The two being innovative entrepreneurs realized the benefits that would have come with the location of a hotel near the airport. It was a very strategic position for an establishment, so they both took the chance and purchased it ready to go into business.

The hotel faired very well in the market, and they were able to maximize any profit chance that came their way. Their success was eminent because just two years with the hotel; they started two new hotels in the country. One was around the San Francisco airport and the other one in the vicinities of Seattle-Tacoma airport. In the next ten years, the company had made very significant steps in the business. In that time the company had grown to become the fastest developing hotel chain in the United States. On a negative note, in the year 1972, one of the brothers, Donald passed away, and the company was to jay for operations.

The international concept of the Hyatt hotel can be traced back in 1969; this was when the first branch outside the United States was established, which was the Hyatt Regency in Hong Kong. The company also started operating the resort hotels in the year 1980, the first being Hyatt Regency Maui. Under jay's operations, the company continued to make steps forward in a very high rate, and by the year 2015, the corporation had managed to establish more than six hundred and twenty-seven hotels all over the world. It is during this period that the likes of the Hyatt Trinidad and Tobago Regency formation happened.

Background of the Industry

The Hyatt hotel corporation gets a classification in the hotel's industry. It is an extensive industry which accommodates very many services with it. These services include event planning, lodging facilities, and the hospitality activities. They are just but some of the services which are the main in the industry. The hotel industry has made significant changes and accommodated new services in the new generations, some of the latest services in the sector include spas and recreational facilities.

This industry lies in a very competitive field. In modern day era, there are very many hotels which have cropped in. That is why despite the hotel like Hyatt and its brand in the market located in the Spanish port, it has not yet afforded to be the best. Reason being there are very other many hotels who try to offer better quality services. Whatever one hotel does, the other tries to get an improvement of the same so that to get a broader range of customers.

Research Problem (Rationale)

The problem that the company is trying to solve is about establishing the Hyatt brand in Trinidad. The Hyatt Company is an international brand in different nations, but it has not yet gained the recognition in Trinidad as it has in other countries. Thus, for this to happen and to attract local customers, some activities have to be carried out. It is all about a brand problem, to have the brand established in a country, then a lot of advertisements and branch activities must be acknowledged. It is not just Hyatt that has this problem; it is a broad problem to international hotels that got branches in various locations. Some of the branches trail behind, mostly those in localities which do not have a clue of the brand.

The topic is relevant because it revolves around marketing a brand. In this case, the brand is the Hyatt Corporation, and the place where the marketing endeavor is required is Trinidad and Tobago. Despite the Hyatt being among the best rated international company in the world, it is yet to achieve the expected level of recognition and output in the country. It might be because of the factors that the company has not lasted for so long in the nation, or because there was other established locality brand before its establishment.

Research Questions

1. What has led to the underdevelopment of the Hyatt Regency of Trinidad and Tobago?

2. What can be done to attract more growth and local customer base of the Hyatt Regency in Trinidad and Tobago?

Research Objectives

To examine why, despite the Hyatt hotel being one of the biggest brands in the United States, and being a corporation that has earned international recognition in the world, it is still not living up to the expected standards in Trinidad. It would not be an expectation of the management that the Trinidad branch of the Hyatt would be below a five-star rating hotel in the country. It is something that will require being sought information to make informed changes.

To determine why despite the Hyatt Regency offering quality services to its customer, they still opt for other hotels of even lower quality in the country. The local customers being the primary focus. Hyatt Regency hotel in Trinidad offers services that most hotels in the country do not have. The facilities found in the hotel are also of very high value than the other hotels around. So why not Hyatt? Remains the main question.

To gather feedback from local customers as per why they prefer other local hotels rather than the Hyatt Regency. It could be a problem that the local customers have on perception, but the management would not know why. So it might be a problem posed by the management ignorance of not being careful. So they should endeavor in getting answers towards this.

Justification of the Objective

The Hyatt hotel is with no objections one of the biggest brands in the world. But this has not been the case to do with the situation in Trinidad, so what are the actions to solve this situation. One of the thing that the company would do is a lot of advertisement and marketing in the country. It might be that the perception that they have, of Hyatt being a brand on its own is not the situation in the actual sense. So, if that is not it, they will need to endeavor in putting a lot of efforts in the marketing the hotels

The next thing that the Hyatt would do is to take a survey of the services the other competing hotels offer and how they charge their services. The reason unto why there is scarcity in the development levels might have been because their services were very high, thus making it unaffordable for the customers. So a survey in the competing entities would do much good to the company. If it is the prices that are too high, then something will need to be done, it will be wiser to reduce the costs and maximize the profit rather than impose high prices and then drag behind in the market. It would not be among the best market policies.

The Hyatt then should then have taken the next step and interview, survey or give questionnaires to local customers unto why they would instead go to expensive local hotels rather than a lower cost Hyatt. Because it seems for a long time now, the company has the perception of an international hotel rather than a hotel for all. It is all eminent because; despite there not being a high level of customer and there not being a high growth of the hotel, in every week, there are more than one hundred international tourists. The tourists come to settle in the hotel, which is either for long-term accommodation, short-term and some come to take meals. So the problem is about getting the local customers. With that known in mind; the company should try and give offers to local customers to encourage them in. This offers would include, low costs, free recreation after meals and others that the management would find as right to attract the people from localities.

It is necessary to answer the objectives; this is because it is only through the research objectives that we can be able to focus and respond to the drawbacks of the corporation. Otherwise, if the targets are not solved, then it means there was no need for the research in the first place. The objectives also help the employees and management to set goals that they should work towards always. They give the company a direction to follow, here the company knows its requirements. And through answering the objectives, it becomes the first step toward success. In any business or organization, it is a wise decision to find goals and act towards them.

Literature Review

Brand Perception in Marketing

The brand is what the public does think about a company's products. Thus, customer's decision about a product is more important in the market than the decisions made by the producer. If there is need to improve the product, the one thing must happen, and that is knowing what the customer's perception is. It is significant mostly when there ar...