Bvlgari Hotel and Resorts: Future Marketing St

1

Rebecca Tummers, Labdhi Vora, Molly Buice, Daryn Hughes Design By: Rebecca Tummers Alessandro Cannata LXFM 730 Bvlgari Hotel & Resorts Future Brand Building Strategy (2028)

Contents

Il Cioccolato Ginza Bulgari Hotel & Resorts, Tokyo, Japan

2

Click on the headings for the interactive contents option throughout this book.

A. Executive Summary

5

D. Future Target Consumer

8

B. Company Summary & Brand Building Process I. History

II. Period Overview Political Economic Social Technology

Art & Literature

III. Mission Statement

IV. Current Status

V. SWOT Analysis

VI. Brand Identity Matrix Prism

VII. Brand Equity

VIII. Brand Stategy Unique Revelation Belief System Brand Rituals Distinctive Lexicon

10 11 12 13 15 17 18 21 22 23 25 27 27 28 29

E. Future Brand Building Strategy

I. Goals and Objectives

II. Unique Selling Proposition

III. Strategy Overview

IV. Cannata’s Diamond

Bulgari Hotels & Resorts Rome Purpose People Product Pricing Placement Promotion

64 65 67

F. Work Cited

80

C. Market Analysis

I. Market Overview II. Market Size III. Growth Potential & Opportunities IV. Competitive Landscape V. Core Competencies VI. Key Success Factors VII. Future Trends

I. Demographic 48 II. Psychographic 50 III. Behavioral 52 IV. Consumer Profiles and Cannata’s Variables 54 for Luxury Consumer Segmentation

32 33 35 36 41 42 44 3

68 69 70 74 75 76

Bulgari Hotel & Resorts Milan

4

A. Executive Summary

Bulgari Hotels & Resorts offers a contemporary, discriminating collection of luxury hotels in gateway cities and exclusive resort locations around the world. The hotel is under Marriott International’s luxury portfolio and operates in the luxury hotel industry.

soul of the Bulgari lifestyle, Rome will be Bulgari’s ultimate luxury experience that provides every guest with a truly authentic, yet contemporary Roman experience.

With an emphasis on art and culture, Bulgari Rome will be the top destination for the modern connoisseur.

With its strategic growth plan, superior service, world renowned dining establishments and spas, stunning locations, and contemporary design, how can Bulgari Hotels & Resorts continue to build upon its brand equity in 2028?

Bulgari’s mission is to exceed the ever changing expectations of the modern luxury traveler. Offering incomparable service, local experiences, personalization, and excellence in everything are amongst the top priorities of Bulgari’s future strategy. At Bulgari Hotel & Resorts, each individual guest experience is handcrafted by a dedicated team of staff to deliver a truly opulent, exclusive, and lavish experience. In 2028, the human element will only become more important to deliver the highest standard of excellence, every single time.

By 2028, Bulgari Hotels & Resorts will build its brand equity by strategically expanding its locations and positioning itself amongst the world’s top luxury destinations. To curate world-top luxury, Bulgari Hotels & Resorts will capitalize on its Italian heritage, inspired by the splendour of Ancient Rome. As the heart and

5

Mansion Bulgari Hotel & Resorts Bali

6

B. Company Summary & Brand Building Process

7

I. History

8

II. Period Overview Political Economic Social Technology Art & Literature

10 11 12 13 15

III. Mission Statement

17

IV. Current Status

18

V. SWOT Analysis

21

VI. Brand Identity Matrix Prism

22 23

VII. Brand Equity

25

VIII. Brand Stategy Unique Revelation Belief System Brand Rituals Distinctive Lexicon

27 27 28 29

2012

2001

Bulgari opens its second European hotel in London.

Bulgari S.p.A. and the Luxury Group (Marriott) join partnership to found Bulgari Hotel & Resorts.

2013

2004

Bulgari London is awarded one of the “Best New Hotels” and “Best New Spas in The World” by Conde Nast.

Bulgari’s first hotel is opened in Milan.

2017

2006

Locations in Dubai and Beijing are added to the brands global portfolio.

Bulgari’s first resort is opened in Bali.

2008

2018

Bulgari Hotel & Resorts opens world-class restaurants in Tokyo and Osaka.

Bulgari’s Fall/Winter 2018 Accessories are launched at the Bulgari Hotel in Milan.

8

I. History and new locations in Paris (2020), Moscow (2020), Shanghai (2018), and Tokyo (2022).

Bulgari SpA is an Italian jeweler and luxury goods company. In 2001 Bulgari SpA joined a partnership with Marriott International Inc. as the second luxury hotel brand in its corporate portfolio. The Ritz Carlton Hotel Co. is also in this portfolio and both brands operate in Atlanta under the Luxury Group (Steve Webb).

Stunning locations in harmony with the surrounding area, contemporary design, and superior service are the key elements that characterize Bulgari Hotels & Resorts collection. Every unique patron experience is crafted with the same detail that is employed to produce the fine jewelry of the Bulgari brand.

Bulgari Hotel & Resorts opened its first location in Milan, Italy in 2004. Since then, locations have been added in London, Dubai, Bali, and Beijing, along with exclusive stand-along culinary experiences in Tokyo and Osaka. Bulgari Hotels & Resorts has a strategic growth plan and is opening

9

II. Period Overview

Political The Italian centre-right politician Silvio Berlusconi, served as the Prime Minister of Italy from 19941995, 2001-2006, and 2008-2011 (BBC News). As a businessman who made his fortune as a media mogul, Berlusconi used his wealth and power to build his political platform. He gained prominence by “personalizing Italian politics and [turned] himself into a brand – self-made, virile and wily” (Rachel Donadio and Elisabetta Povoledo).

He is infamous for his lavish lifestyle, sex scandals, and corruption.

Bulgari Hotel & Resorts Beijing

10

Historically, Italians have been attracted by a leader who is a strong, charismatic, and powerful (Giumelli and Maneschi). Italian voters admired these qualities in Berlusconi and aspired to embody the personal qualities and lavish lifestyle of Berlusconi. (Rachel Donadio and Elisabetta Povoledo).

Silvio Berlusconi’s celebrity image helped to legitimize a culture of lavish consumption and opulence in Italian society.

Economic On 1 January 2002 , Italy officially adopted the euro banknotes and coins, after a transitional period from 1999 when the euro existed officially only for “book money” (European Commission). The introduction of the euro created a unified currency across Europe that allowed for the free flow and ease of transactions across Europe.

During this time, Italy was a leader in European industrial design and fashion. Combined, these services accounted for 68.9% of the Italian economy (Andrea Alivernini et. al).

Italy’s Travel and Tourism GDP growth expanded 19% between 1998 and 2013 (World Travel & Tourism Council). This growth can be attributed to the rise in the world’s wealthy class. Specifically, in the BRIC countries (Brazil, Russia, India, and China) economic growth has allowed for an emerging wealthy class that is likely to add to the positive trend seen in Italian tourism (Andrea Alivernini et. al). The influx of Chinese tourists to Europe has also created a boom in the European tourism industry - with Italy being amongst one of the top destinations (Kairos Future).

11

II. Period Overview Social Italy has historically been amongst the favorite European destinations. It is a country rich in culture, history, art, natural sights, and world-class cuisine. In fact, the aspects of travel experience in Italy that foreigners prized most highly in the early 2000s were art, nature, and food (Travel & Tourism Council).

Italy was amongst one of the many socially progressive EU states at the turn of the 21st century. EU member states were granted an ease of travel to Italy - whether it be for travel, work, or immigration.

Women were increasingly playing a more visible role in society, especially in terms of obtaining a higher education and career. Additionally, religion was playing a less import-

HĹ?seki Restaurant Bulgari Hotel & Resorts Dubai 12

ant role in the daily life of Italians.

These aspects helped Italy progress towards increased social diversity and equality.

During the founding of Bulgari Hotels & Resorts the luxury hotel industry was being disrupted by a trend towards more sophisticated consumer demands. Hotels needed to adapt and offer experiences that surprised, pampered, and immersed consumers with the culture of the region (Travel & Tourism Council). Luxury consumers were also seeking luxury travel experiences to exotic locations for reasons other than “honeymooning�.

Technological Travel enthusiasts typically looked to the “experts� in brick mortar travel agencies and travel books to plan trips. However, with the boom of the internet and online commerce in the early 2000s, travel blogs and third-party booking websites were gaining popularity.

Consumers could now easily book travel reservations on there own and research activities, flights, and accomodations through various online sources. In 1996, Expedia was one of the first travel companies to use a purely online medium.

In 2004, Priceline.com was growing quickly and dominating the online travel agency market.

Hotels were now able to set up their own websites to educate and sell their products to consumers.

The growth of social media created communities that people enjoyed sharing their experiences with. Facebook went live in 2004 and Twitter in 2006. When it came to traveling and vacations, these platforms gave people the opportunity to share their photos and opinions from their journey.

13

II. Period Overview

14

The Cinema Bulgari Hotel & Resorts London

Art & Literature The art era of 2004 is Contemporary and Post-Modern. The new millennium brought new digital technologies into the art scene.

Post-Modern is known for its rebellion against the traditional teaching of the meaning of art.

Post-Modern philosophy could be found in art and literature. A strong theme was that was repeated was the separation of highbrow and lowbrow culture. Because of the accessibility of information because of the internet pop culture was spread more easily. Highbrow culture was reserved for the well-educated elite.

15

A popular Italian movie that came out in 2004 was The Consequences of Love. The award winning film was featured at Cannes Film Festival. The movie is a psychological thriller about a lonely businessman. The Consequences of Love brought its director, Paolo Sorrentino, into the limelight.

Bulgari Hotel & Resorts Dubai 16

III. Mission Statement

“

A contemporary, discriminating collection of luxury hotels in gateway cities and exclusive resort locations around the world.

“ (Marriott International Inc.)

17

IV. Current Status Bulgari focuses on delivering fine cuisine crafted by world-class culinary artists. Every destination fuses local fare with modern Italian cuisine to create signature Bulgari dishes. The head-chef of Tokyo’s Il Ristorante Luca Fantin, released a Bulgari cookbook that is a precious capsule and memoir of signature Bulgari dishes.

Bulgari Hotels & Resorts currently operates six locations in Bali, Milan, London, Dubai, Beijing, and restaurants in Osaka and Tokyo. The brand has exercised strategic global expansion efforts since its first opening in 2004.

The following destinations will be added to the brands impressive global portfolio: 2018

Shanghai 2020

Moscow

2020

The Bulgari Spa’s are amongst some of the most luxurious in the world. By integrating local techniques in their treatments, Bulgari immerses each guest in a truly culutral experience of relaxation and peace-of-mind. With countless nominations across their global locations, Bulgari London was awarded Best UK Spa by Conde Nast Taveller Reader Award in 2013.

Paris 2022

Tokyo

Bulgari Hotels & Resorts are world renowned for their exceptional service in the most luxurious of locations. In 2011, Bulgari Bali was chosen by the readers of Smart Travel Asia magazine as the second of top places to stay in Asia. In 2017, Bulgari London Hotel Private Screening Room was named as one of the top private screening rooms in London by Ikon London Magazine. The Bulgari luxury resort in Dubai has been cited to be the costliest hotel in the Middle East, surpassing the room cost of Burj al Arab.

Bulgari Hotels & Resorts adapted the membership model in their Bulgari Spa London. This membership offers a limited number of individual and joint private memberships combining bespoke Bvlgari treatments with WORKSHOP GYMNASIUM training and assessment services that are exclusive to Bvlgari Spa. A start-up fee and annual membership fee is required and differs based on the membership type.

18

Future Locations - Concepts 2020

2020

Moscow

Paris

2018

2022

Shanghai

Tokyo

19

Villa Bulgari Hotel & Resorts Bali 20

Strengths

Weaknesses

Established brand name with rich history.

No presence of an app.

Financial backing from both LVMH and partnership with Marriott.

Few destinations around the world.

High presence in media and social media.

World renowned spa, bar, and restaurants.

Global marketing and advertising

V. SWOT Analysis

Diversified hotel portfolio - higher retention rate among consumers

Press area on website needs to be updated and maintained more frequently.

No “about us” page on website or opportunity for the consumer to learn more about the brand value and heritage Only one remote resort offering in Bali.

Opportunities

Threats

Location in North America - second largest luxury travel market.

Geo-political issues in Bali and Dubai.

More resorts - “adventure” vacations in remote locations.

Further develop wellness offerings - increased consumer demand for overall “well-being” Better integration with travel technology - system that personalizes transportation, accommodations, activities, and dining 21

Relevance of Dubai may decrease with flight innovation and fall of oil industry.

More educated consumers with increasingly sophisticated demands.

Increase in substitutes such as luxurious vacation sharing rentals.

Dubai Bulgari Hotel & Resorts

Personality Organization

Hospitality Travel and Leisure Boutique Hotels & Resorts Restaurant Bar BVLGARI Spa The WORKSHOP Gymnasium Extensive line of services Italian Sustainability Contemporary & Timeless Connoisseur Brand Craftsmanship & Elegance Lavish Indigenous Extravagant Cultured Sophisticated Lifestyle Timeless Contemporary Innovative

Symbol

Brand Identity

Product

VI. Brand Identity - Matrix

22

VI. Brand Identity - Prism

picture of sender

Physique

externalization

Hotel and Resorts/ Spa Precious metals and stones Sleek, chic, and modern

Physique Glamorous Audacious Ambitious Wonderlust

Culture

Relationship

Exclusive Personalized Customer centric

High standard of excellence, Roman classicism integrated with local contemporary design, Detail Oriented

Reflection

Self-Image

Rich Elegant Elite

Accomplished Posh Worldly

picture of receiver

23

internalization

Bulgari Hotel & Resorts Dubai

24

VII. Brand Equity - Keller’s Pyramid

Salience

Judgements

“Timeless glamour, unique design, flawless service and the most pristine global locations�

- Marriott on Bulgari Hotels

Luxury accommodations, amenities, and services that surpass clients needs.

Performance

Feelings

Unparallelled hospitality with an endless list of amenities and services.

Cultured, taking part in art, music, and a high-end experience that is authentic and immersive.

Imagery

Resonance

Unique, contemporary, high end, and holistic design.

Bulgari Hotels crafts each individual consumer experience with the same detail that is employed to produce their fine jewelry.

25

VIII. Brand Stategy

Il Ristorante Bulgari Hotel & Resorts Beijing

26

Belief System

Unique Revelation

“You cannot simply live on past glories that’s foolish. To be a success, you have to combine the worlds of the past, present and future. That is the challenge and there are many horizons.”

Stunning locations in harmony with the surrounding area, contemporary design balanced with classic elements, and superior service are the key elements that characterize Bulgari Hotels & Resorts’ collection.

- Nicola Bulgari

Cosmopolitan, sophisticated and focused on achievement, the Bulgari guest has the means and desire to experience only the finest – from the clothes they wear and the people they associate with, to how they live and travel.

27

Brand Rituals: Inspired By Localization

Il Ristorante - Luca Fantin Bulgari Hotel & Resorts Tokyo

DESIGN Each hotel pays homage to the tradition of the specific location. The interiors provide a balance between the rigorous design of the space and the richness of atmospheres, obtained through the use of heavy, solid materials. Suites have a collection of books on art and design to further engage consumers in Bvlgari’s passion for the arts.

CUISINE The basic elements of superior quality, refined techniques, and creativity are the fundamental ingredients of Bvlgari’s cuisine. Each item is infused with flavors of the region, while paying homage to the brands Italian’s roots.

SPA Bulgari Spa aims to deliver a harmonious and restorative experience to each client.

The Bulgari Spa integrates ancient philosophies of well-being that underlie the modern treatments of today.

28

Distinctive Lexicon Bulgari’s Roman history is emulated through the Latin characters in its logo. The logos design integrates the Latin character “V”.

Bulgari Hotel & Resorts has established a unique naming system for its restaurants that pay homage to the brands Italian heritage.

Each dining/bar establishments is named simply in Italian “il bar”, “il ristorante”, etc.

Bulgari Hotel & Resorts differentiates its spas by naming each “The BVLGARI SPA”. Each hotel is also equipped with a state of the art fitness center that the brand names “THE WORKSHOP”.

Historically, Bulgari has been world renowned for its sheer Italian excellence. While filming Cleopatra (1962) in Rome, Richard Burton said of his co-star Elizabeth Taylor, - “I introduced Liz to beer, she introduced me to Bulgari,” or “The only word Liz knows in Italian is Bulgari.”

29

Yacht Club Restaurant Bulgari Hotel & Resorts Dubai

30

C. Market Analysis

31

I. Market Overview

32

II. Market Size

33

III. Growth Potential & Opportunities

35

IV. Competitive Landscape

36

V. Core Competencies

41

VI. Key Success Factors

42

VII. Future Trends

44

I. Market Overview Bulgari Hotel & Resorts operates in the 5-star luxury hotel sector, defined by its opulence, prestige, and exclusivity. The degree of luxury is decided by the amount of money paid and the number of stars awarded to the institution. Although the expectations of luxury have changed, the key institutions and image remain the same. The global leaders are: Marriott International Inc., Intercontinental Hotels Group PLC. Accor Hotels Group, Shangri-La Hotel & Resort Inc., Hilton Worldwide.

The industry has seen a trend towards the democratization of luxury travel that will increase the target market for luxury providers (Wouter Geerts). HNWIs will account for just over 1% of the global population by 2030, while households with disposable incomes over USD100,000 will account for over 20%. Focusing solely on HNWIs means missing out on a major target market - consumers who are able and willing to spend their disposable income on luxury travel (Wouter Geerts).

As global wealth is increasing, more people will start to travel more often. While people will travel more, on average they will spend less per trip. The decline in spending means more consumers will “trade-down to trade-up” meaning spending less on transportation, shopping, and eating, to stay in 5-star accomodations (Euromonitor International).

Modern technology has largely shaped this industry as it allows consumers to compare and book hotels more efficiently. In response to the growing digital-savvy consumers, industry players are largely investing in and improving both online and mobile digital platforms, including mobile apps. (Euromonitor International).

Bulgari Hotel & Resorts Beijing

Consumers are seeking luxury that is experiential as they begin to care less about “stuff” and more about unique stories and experiences. This means luxury hotels need to offer consumers unique experiences which include personalized services, the creation of a community, the utmost service standards, state of the art wellness offerings, and ethical and sustainable business practices (Euromonitor International).

32

II. Market Size The global luxury hotel industry had a retail value of 51,057.5 USD million in 2017. Through 2017 to 2022, the global luxury hotel industry is expected to have a CAGR of 3.6% (Euromonitor International). The world’s largest market is Asia Pacific followed by North America. Asia Pacific is led by China where there has been a significant rise in affluent consumers and luxury spending.

The largest growth in this segment are in Eastern Europe and Latin Amercia. This can be attributed to the rising GDPs of Russia and Brazil (BRIC countries) and therefore increased consumer spending - especially in the luxury segment.

In fact, the Baltic states will be among the glbal leaders in per household consumer expenditure growth over 20172030 (Euromonitor International).

North America 12,785.2 USD million CAGR 2.2% Eastern Europe 2,164.7 USD million CAGR 6.8%

Western Europe 12,507 USD million CAGR 2.7%

Latin America 2,510.7 USD million CAGR 5.7%

Middle East and Africa 5,688.7 USD million CAGR 4.6%

Australasia 1,443.5 USD million CAGR 2.1%

33

Asia Pacific 13,957.8 USD million CAGR 4.5%

III. Growth Potential & Opportunities

Bulgari Hotel & Resorts Beijing 34

Global Expansion

Bulgari Hotel & Resorts has yet to enter the North American market which is the second largest market for luxury travel accomodation in the world. Locations in L.A. and New York are top priority.

Tech-Savvy Offerings

Mobile apps and connective rooms are now and will continue to be crucial feautures of the luxury hotel offering. The Bulgari Hotel & Resorts app should integrate itself with the existing Bulgari Vault App. The website should be updated to communicate Bulgari’s brand story.

Expand Resorts

Bulgari Hotel & Resorts Bali is the brands only remote resort offering.

The brand should explore more remote destinations and bring the finest luxury offerings to these areas.

Enhance Local Experiences

Consumers are seeking unique cutural experiences when they travel.

It should be a primary focus of Bulgari to enhance these offerings and create unique local experiences for every guest.

Expand Wellness Offering

As health and wellness becomes more of a primary concern for consumers, Bulgari Hotel & Resorts should refine their wellness offerrings. This could include more localized spa treatments, a wellness refreshment bar, and in-house nutritionists.

35

IV. Competitive Landscape

Direct Competition | Luxury Hotels HOTEL St. Regis Hotels

HOTEL Shangri-La Hotels & Resorts

HOTEL W Hotels

PARENT COMPANY Marriott International Inc.

PARENT COMPANY Shangri-La Hotels and Resorts Group

PARENT COMPANY Marriott International Inc.

GLOBAL OUTLETS 62 Properties located worldwide

GLOBAL OUTLETS 95 properties Located Asia, Europe, North America

GLOBAL OUTLETS 52 Properties located worldwide

BRAND STRATEGY Luxury full-service hotels, resorts and residences for high-end leisure and business travelers (Marriott International Inc in Travel World).

MARKET SHARE Split 19.3% Marriott Luxury Hotel RECENT ACTIVITY Global expansion is at the top of the agenda. Properties in Cairo and Amman were announced, and Rome will receive a full renovation in 2018. Focusing on high-end visitors, the brand is closely linked with the sport of polo, sponsoring events and opening a polo resort in Dubai in October 2017. The company sold its San Francisco hotel for USD 175 million in December 2016 but will continue to manage the hotel. (Marriott International Inc in Travel World).

LOGO

BRAND STRATEGY Shangri-La’s brand architecture is strategically planned and executed to target every type of traveler, from business travelers, individuals, couples to families. These sub-brands help Shangri-La to operate in many segments of the hospitality industry across the world.

Shangri-La focuses on admiration from customers through emotional appeal and the heart. (Shangri-La and MartinRoll) MARKET SHARE 2.7% Luxury Hotel Market Share RECENT ACTIVITY Global expansion in Saudi Arabia, China, and Sri Lanka, Recently signed a strategic alliance with Taj Hotels Resorts & Palaces to create a loyalty partnership, Shangri-La to manage a 290-room hotel in The Palm Tower on Palm Jumeirah.

LOGO

36

BRAND STRATEGY Luxury full-service hotels known for style and design. Contemporary, metropolitan, and at the center of prestigious events (Marriott International Inc in Travel World).

MARKET SHARE Split 19.3% Marriott Luxury Hotel market share RECENT ACTIVITY Another brand focusing on global expansion.

Targeting 75 hotels by 2020, and new hotels announced around the world, including Las Vegas, Dubai, Amsterdam and Belgrade.

Highlighted its focus on fashion and lifestyle by introducing the “Off Duty” closet on its online store. (Marriott International Inc in Travel World) LOGO

Il Giardino Bulgari Hotel & Resorts Milan

HOTEL Four Seasons Hotels and Resorts

HOTEL The Ritz-Carlton Hotel Company

PARENT COMPANY Four Seasons Hotels Limited

PARENT COMPANY Marriott International Inc.

GLOBAL OUTLETS 62 Properties located worldwide

GLOBAL OUTLETS 91 Properties located worldwide

BRAND STRATEGY They create properties of enduring value using superior design and finishes and support them with a deeply instilled ethic of personal service. Doing so allows Four Seasons to satisfy the needs and tastes of its customers, and to maintain its position as the world’s premier luxury hospitality company (Four Seasons Hotels).

BRAND STRATEGY Emphasizes exemplary service and luxury experiences to target high-end leisure and business travelers (Marriott International Inc in Travel World).

MARKET SHARE 1.2% Luxury Hotel Market Share RECENT ACTIVITY Launched its private jet experience in 2015.

Four Seasons is focusing on global expansion and is opening 6 new locations by Mid 2019 in locations such as Napa Valley, Athens Greece, and Kuala Lumpur.manage the hotel. (Marriott International Inc in Travel World).

MARKET SHARE Split 19.3% Marriott Luxury Hotel market share RECENT ACTIVITY Ritz-Carlton signed an operating agreement for luxury yachts in June 2017, looking to bring its high-end service to three cruising yachts by late 2019. The brand launched its new website in 2016, which highlighted the brand’s social focus through a montage of Instagram photos with the Ritz-Carlton handle (Marriott International Inc in Travel World).

LOGO

LOGO

37

IV. Competitive Landscape

Direct Competition | Designer Branded Luxury Hotels HOTEL Armani Hotels

HOTEL Cheval Blanc

HOTEL Pallazo Versace

PARENT COMPANY Giorgio Armani and Emaar

PARENT COMPANY LVMH Hotel Management

PARENT COMPANY House of Versace, Nanbai Australia PTY LTD

GLOBAL OUTLETS 2 properties in Milan & Dubai

GLOBAL OUTLETS 3 Properties located in France, Maldives, and the West Indies

GLOBAL OUTLETS 2 Properties in the Gold Coast Australia & Dubai

BRAND STRATEGY Beyond the exceptional surroundings, spacious living areas and high-end facilities, Cheval Blanc is outstanding in its customized approach to services, which are tailored to suit the individual needs and expectations of each guest. Cheval Blanc applies this approach through its four founding values, which are craftsmanship, exclusive, privacy, creativity and Art de Recevoir (Cheval Blanc and LVMH).

BRAND STRATEGY Palazzo Versace is the world’s first fashion-branded hotel, born from the desire to combine the design and spirit of Versace with a highly luxurious hotel concept (Versace).

BRAND STRATEGY Armani Hotels & Resorts will be places that offer the same kind of welcome to guests as Mr. Armani would privately extend to his family and friends. Embodying beauty, elegance and grace, and located in major cities and resort destinations across the world, they will define superior service, immaculate design and incomparable luxury (Armani Hotels and Resorts).

MARKET SHARE 0.1% Luxury Hotel Market Share RECENT ACTIVITY Armani Hotel Dubai wins ‘Middle East’s Leading Hotel’ honor at World Travel Awards Middle East 2018. Emaar has put plans for a third Armani Hotel on hold, saying it wishes to establish the brand before further expansion.

MARKET SHARE 0.1% Luxury Hotel Market Share RECENT ACTIVITY Opening a location in Paris at La Samaritaine in 2019 with a luxury DFS store.

LOGO

LOGO

38

MARKET SHARE 0.1% Luxury Hotel Market Share RECENT ACTIVITY It plans to open a five-star, 20-storey hotel tower in the Chinese gambling mecca of Macau.

LOGO

Villa Bulgari Hotel & Resorts Bali

Indirect Competition The Indirect Competition of Bulgari Hotels and Resorts includes other sectors of travel and hospitality, such as cruise companies like Crystal Cruise Lines.

Michelin Star restaurants are also considered indirect competitors for the brand as they may compete with the Bulgari restaurants. Prestigious spas situated in close proximity to the existing Bulgari Spas also create competition for the company.

As privacy and enhanced localization become more important to luxury travel consumers, vacation rental sharing companies will rise as indirect competitors. Companies like Airbnb and VRBO give customer the ability to have an unbranded experience, an entire space to themselves, and all in locations of their choice.

39

Bulgari Hotel & Resorts Bali

40

IV. Core Competencies

A Sense of Place Service and Sustainability Expertise

The philosophy of immersing guests with the local culture, history and heritage of its people, and crafting culturally enriched experiences for every guest.

Bulgari strives to offer an incomparable level of service that handcrafts every individual guest experience. The service culture is founded on excellence and highlights the integral role that each employee plays, from the valet attendants to the head-chef.

Bulgari’s partnership with Marriott International Inc, has helped to establish a reputation of excellence and has legitimized Bulgari as a luxury hotel brand. Bulgari’s rich heritage as a Roman inspired jeweler, communicates a story of craftsmanship, lavishness, and opulence that extends to the brands hotel offering.

Strategic Global Expansion

The brand seeks out the most prestigious, unique, and breathtaking destinations for its hotels. Bulgari’s mission is to focus on expanding to locations that enhance brand equity, excite guests, and offer culturally enriched experiences.

Relationships

At every destination, Bulgari’s esteemed guests become a part of the Bulgari family. Guests are immersed in the Bulgari lifestyle, all while forming a community with other guests, the local culture, and staff.

41

VI. Key Success Factors

Design

Wellness

Travel is a time for inspiration, especially for affluent travelers. Thoughtful, original, and relevant design in every detail – lighting, textiles, typography, utensils - is therefore of great importance. From unique sculptures and impressive canvasses to live performances of original music, dance or poetry, the creative arts can enrich the guest experience in ways that mere ostentatiousness cannot.

Luxury hotels need to incorporate a focus on their guests’ health and wellbeing in every aspect of the experience. Today’s luxury hotel must offer amenities that nurture the quality of life of its guests. Guests expect health-focused spas and professionally-staffed wellness areas, advanced air and water filtration, and circadian lighting systems, as well as personalized health and fitness programs.

Culture

Young affluent travelers, in particular, see holidays as a time to learn something and broaden their cultural horizons: they want to benefit from cultural immersion and to engage with the community in which they’re visiting. By providing their guests with unique insights into local life, luxury hotels create a sense of distinction. Chef tours of fresh food markets, local cooking classes, hands-on workshops with artists, even the opportunity to collect local honey from a hotel beehive: the opportunities for creative hoteliers are endless.

42

VI. Key Success Factors

Service

Security

One of the keys to authenticity is personnel: well-trained, experienced hospitality professionals from the local community are the best possible representation of that destination. Staff members who have grown up in the region can give guests an insight into the outlook of the people and their culture. Furthermore, across the luxury hotel segment globally, there is a vital need for better-trained and experienced staff to be able to meet the expectations of affluent travelers. For luxury hotels, investment in staffing must be high priority.

According to Resonance, a consumer-research consultancy, safety is the biggest concern of wealthy travelers. Hotels targeting HNWIs must be able to prove their security credentials. Formal training for staff, well-maintained security technology, up-to-date emergency planning, and professional IT and network security are must-haves for luxury hotels.

Personalize

There is no substitute for personal service. Even the most exclusively well-appointed hotel will fail to impress if it tries to apply a cookie-cutter approach to service for HNWIs. Differentiation must come from more personalized service - knowing the customer. Reach out to potential guests to show that you’re ready to accommodate their individual preferences. Some wealthy individuals prefer to send their staff to a hotel in advance to prepare their room, sometimes bringing items from their own homes. For the guest who has everything, the familiar can be the greatest luxury of all.

Il Cioccolato Bulgari Hotel & Resorts Tokyo 43

The Quintessential Self

VII. Future Trends

Fueled by the maturation of the experience economy, self-tracking, and online sharing – self-actualization is more intense than ever for millions of affluent, yet mainstream, consumers. The luxury “Quintessential selfers” will seek out rare and shareable experiences or exciting and storied products that supercharge their self-improvement and wellbeing.

Best Practice: In January 2016, the Mandarin Oriental Barcelona unveiled two luxury programs for people running in the March 2016 Barcelona Marathon. The hotel’s Marathon Package includes three night’s accommodation, personalized coaching, a running t-shirt, and two spa treatments.

Secure Information

39% of Ultra High Net Worth Individuals (UHNWIs) worldwide say that online privacy and security is an issue of concern for them when it comes to the creation and preservation of their wealth.

Best Practice: In July 2016, luxury Italian jeweler Bvlgari partnered with WISeKey on an app that provides security around mobile payments and other smartphone data. The Bvlgari Vault app is a secure platform that can protect a user’s passwords, banking information, pictures, videos and messages.

Do Good in the World

For many HNWI, philanthropic activity equates to status. There is a trend towards brands that combine luxury and a zeal to make the world better. Millions of affluent consumers feel trapped in a guilt spiral when it comes to the negative impacts – on the environment, society and their health – of their consumption.

Best Practice: The luxurious Nekupe Sporting Resort and Retreat, which opened last September in Nicaragua’s rural countryside, offers sandboarding down an active volcano and horseback riding. The hotel seeks to educate visitors about improving local employment, sustainable farming and environmental ownership and responsibility.

Extravagance on Demand

Consumers will push their on-demand mindset to new highs and entirely new domains of consumerism. This trend takes the idea of “basic on-demand functionality” and extends it to the luxury. Luxury consumers are now seeking extravagant offerings at their disposal.

Best Practice: The Vintage Fashion Trunk, a partnership between luxury vintage fashion e-tailer Vestiaire Collective and The Berkeley Hotel in London, allows guests to borrow vintage designer items free of charge.

44

Bulgari Spa Bulgari Hotel & Resorts Bali

Customization

Many luxury travelers want to construct experiences that align with their unique interests, needs and values. Consumers search for companies that can tailor unique luxury experiences that can be customized without asking.

Best Practice: Blink is a luxury travel company that creates customized pop-up hotels. Blink is offering personalized pop-up holiday experiences in rare and remote locations around the world. Each trip is designed to be entirely unique, with examples including temporary camps set up in the Moroccan desert, Bolivian salt flats or the Andes.

Tech-Savvy Offerrings

It is expected that luxury hotels integrate technology into their offerings for efficient, personalized, and smart service. As time becomes a more valuable resource, consumers will seek hotels with connective features such as tech-savvy rooms. Mobile Apps that consolidate all elements of the consumer experience will be a crucial component of luxury hotel offerings.

Best Practice: The Marriott International and Hilton Honors apps, can complete the check-in process before you arrive, unlock your room with a mobile key and even text the hotel staff for requests. Other brands, such as Four Seasons Hotels and Resorts and Loews Hotels, are following suit.

Total Wellness

As consumers become more focused on their mental and physical well-being, it is crucial that luxury hotels enhance their wellness offerings. It has become a threshold expectation that luxury hotels have some form of wellness offering.

Best Practice: Westin Hotels has recently introduced a partnership with New Balance, allowing customers to rent gym apparel for their entire stay at only $5. This improves Westin’s wellness offering and enhances their new image of a hotel for total wellness.

45

Bulgari Hotel & Resorts London 46

C. Future Target Consumer I. Demographic

48

II. Psychographic

50

III. Behavioral

52

IV.Consumer Profiles and Cannata’s Variables for Luxury Consumer Segmentation

54

47

II. Demographic

LIVES | WORLD CITIZENS IN METROPOLITAN POWER CITIES The world’s top spenders on luxury goods in 2017 were the USA, China, Japan, Germany, and UK. However, in 2030 it is projected that the USA, China, India, Japan, and Germany will be the world’s greatest luxury good spenders (Euromonitor International). Bulgari should focus on these markets while also acknowledging their customers as global citizens, residing in the metropolitan power-cities of the world. This is especially important in a more connected world with a growing wealthy class.

INCOME | HNWI AND UPPER RANGE AFFLUENT INDIVIDUALS The industry has seen a trend towards the democratization of luxury travel that will increase the target market for luxury providers (Wouter Geerts). HNWIs will account for just over 1% of the global population by 2030, while households with disposable incomes over USD100,000 will account for over 20%. HNWI are those whose net wealth ranges from US$1 to US$5 million and affluent consumers are those whose net wealth ranges from US$100,000 to US$1 million. Focusing solely on HNWIs means missing out on a major target market - consumers who are able and willing to spend their disposable income on luxury travel (Wouter Geerts).

It is important to target both segments of consumer income to increase revenue streams. The HNWI will be the primary consumer for luxury accommodations, especially when considering room upgrades. Affluent consumers are an important revenue stream generator in Bulgari’s restaurant, bar, and spa facilities.

EDUCATION | BACHELOR DEGREE + According to J.N Kapferer, a higher level of education is directly related to a greater likelihood of luxury purchases. It is important that Bulgari Hotels & Resorts target well-educated wealthy individuals who will appreciate and revel in the rich cultural offerings of each unique location.

AGE | 28 to 70 48

The Bulgari Suite Bulgari Hotel & Resorts Milan

49

II. Psychographic

The future Bulgari Hotels & Resorts consumers is an individual who appreciates the finer things in life: culinary excellence, fine arts, culturally refined experiences, and the achievement of personal wellness. The luxury consumer of 2028 is interested in healthy living, unique experiences to reach fulfillment in life, ethical living, building a sense of community, and values highly time spent with loved ones (Euromonitor International). The core consumer is conscious of their personal image, optimistic, considers themselves to be a global citizen, and has a modern-orientation that opens them to external influences.

50

La Galleria Bulgari Hotel & Resorts Dubai

51

II. Behavioral

In the next decade, technology will become even more integrated into every facet of the luxury consumers daily life. The Bulgari consumer is one who is extremely well-connected, tech-savvy, and comfortable with making online purchases. Millennial and Gen Z consumers use social media daily and build connections with brands through social platforms (Euromonitor International).

Online security is still of high importance to luxury consumers– especially when considering HNWI and older generations.

The Bulgari consumer is someone who is both comfortable with and frequently purchases luxury goods. To this individual, luxury may be seen as indulgent, aspirational, hedonistic, and desirable.

52

Lobby Bulgari Hotel & Resorts Beijing

53

IV. Consumer Profiles Cannata’s Variables for Luxury Consumer Segmentation

THE BACHELORETTE

THE BUSINESSMAN/WOMAN

SEARCHING FOR:

SEARCHING FOR:

SEARCHING FOR:

A city destination to travel to with her girlfriends to unwind, shop, dine-out, and spa.

A luxurious vacation for their family, romantic vacation with their spouse, and a hotel for their business trip.

A luxury hotel to host their destination wedding and honeymoon.

54

THE NEWLYWEDS

THE HOUSEWIFE

THE BACHELOR

THE RETIRED COUPLE

SEARCHING FOR:

SEARCHING FOR:

SEARCHING FOR:

A romantic getaway with her very busy husband and a luxury spa destination for her and her girlfriends.

A weekend getaway with his friends to an energetic city to help him unwind after a stressful week of work.

A luxurious, relaxing, and cuturally enriched getaway to enjoy their retirment.

55

IV. Consumer Profiles Cannata’s Variables for Luxury Consumer Segmentation

THE BACHELORETTE LIVES | L.A

AGE | 28

INCOME | USD 350,000

CAREER | Marketing Manager, Revolve EDUCATION | Bachelor of Marketing, Columbia University INTERESTS | Fashion, Fitness, Vacations, Upscale Nightlife, Dining

Out, Instagram, Shopping BELIEFS | She is important, conscious of personal image, sense of authority, optimistic about life TECHNOLOGY USE | Comfortable with online shopping, uses social

media daily, researches brands online BRANDS SHE LIKES | Cares about ethical/sustainable brands, Values

personalized experiences, looks for value for

money spent INCOME - 60 Middle Income WEALTH - 80 Financially independent TIME - 50 Busy Bee LEVEL OF CONNOISSEURSHIP - 90 Luxury explorer ATTITUDE VS. LUXURY - 85 Superstar

56

THE BUSINESSMAN/WOMAN LIVES | PARIS

AGE | 45

INCOME | USD 1,750,000

CAREER | Accounting Manager at LVMH EDUCATION | M.S. Financial Mathematics, University of Paris INTERESTS | Family time, tropical vacations, art galleries, date nights with spouse, live cultural performances, world events BELIEFS | “my life, my way”, values every dollar spent, buys luxury as a occasional “treat” TECHNOLOGY USE | Would rather buy in-store, values online privacy, uses Facebook BRANDS SHE LIKES | traditional well-established luxury brands,

values brands that take a “family focus”

INCOME - 90 High flyer WEALTH - 90 Financially free TIME - 75 Balanced LEVEL OF CONNOISSEURSHIP - 60 Luxury tourist ATTITUDE VS. LUXURY - 60 Understated

57

IV. Consumer Profiles Cannata’s Variables for Luxury Consumer Segmentation

THE NEWLYWEDS LIVES | Shanghai

AGE | 35

INCOME | USD 1,250,000

CAREER | Mr. Software Engineer, Apple and Mrs. Dentist EDUCATION | M.S. Software Engineering, Waterloo University

DMD (denistry, Univeristy of Toronto) INTERESTS | Dining out, Date nights, adventurous vacations, profession

al journals, shopping BELIEFS | “work hard, play hard”, conscious of self-image TECHNOLOGY USE | Very comfortable with social media, generally

shops online.

BRANDS SHE LIKES | Likes to splurge on established luxury brands,

values the newest trends

INCOME - 90 High flyers WEALTH - 90 Financially free TIME - 60 Balanced LEVEL OF CONNOISSEURSHIP - 100 Luxury native ATTITUDE VS. LUXURY - 100 Opulent

58

THE HOUSEWIFE LIVES | Manhatten

AGE | 51

HOUSE INCOME | USD 7,000,000

CAREER | Housewife EDUCATION | Bachelor of Arts, Yale INTERESTS | shopping, pilates, fashion, plastic surgery, host cocktail parties with her girlfriends, social events, botox BELIEFS | Herself and her family are very important, self-centered, conscious of self-image TECHNOLOGY USE | Recently on instagram, not comfortable online shopping, researches brands in magazines BRANDS SHE LIKES | Well-established luxury brands, values the core

products of established brands (Birkin bag)

INCOME - 100 Money Machine WEALTH - 100 King TIME - 100 Leisure Class LEVEL OF CONNOISSEURSHIP - 100 Luxury native ATTITUDE VS. LUXURY - 100 Opulent

59

IV. Consumer Profiles Cannata’s Variables for Luxury Consumer Segmentation

THE BACHELOR LIVES | Berlin

AGE | 30

INCOME | USD 1,000,000

CAREER | self made tech entrepreneur EDUCATION | MS.Automotive Engineering from Duale Hochschule Baden-Württemberg Karlsruhe INTERESTS | Sportscars, swiss watches, upscale nightlife, weekend city travel, fitness, fashion BELIEFS | perfection, punctuality, “work hard, play hard”, optimistic TECHNOLOGY USE | very comfortable with social media, prefers

online shopping, listens to advice of influencers BRANDS SHE LIKES | Loves German brands, personalized experiences,

appreciates technological integration in retail

INCOME - 90 High Flyer WEALTH - 90 Financially Free TIME - 35 Work Obsessed LEVEL OF CONNOISSEURSHIP - 90 Luxury explorer ATTITUDE VS. LUXURY - 90 Superstar

60

THE RETIRED COUPLE LIVES | London

AGE |

70

INCOME | USD 8,000,000

CAREER | retired doctors EDUCATION | M.D., Imperial College of London INTERESTS | Visiting family, travel in all forms, world events, art and Culture, fine dining BELIEFS | Investing money, quality family time, important to experience

the world, healthy living, humble TECHNOLOGY USE | No social media, not comfortable online shopping,

highly values personal security online BRANDS SHE LIKES | Traditional luxury brands, European Brands, rich

heritage and craftsmanship

INCOME - 100 Money Machine WEALTH - 100 King TIME - 90 Leisure Class LEVEL OF CONNOISSEURSHIP - 60 Luxury Tourist ATTITUDE VS. LUXURY - 70 Understated

61

Bulgari Hotel & Resorts Beijing

62

D. Future Brand Building Strategy I. Goals and Objectives

64

II. Unique Selling Proposition

65

III. Strategy Overview

67

IV. Cannata’s Diamond Bulgari Hotels & Resorts Rome

63

Purpose

68

People

69

Product

70

Pricing

74

Placement

75

Promotion

76

I. Goals and Objectives

Build brand equity.

Strategically expand global offering.

Position Bulgari Hotel & Resorts’ as the top luxury destinations worldwide.

Focus on building strong brand associations to foster a global community of loyal and aspiring guests.

Incomparable service, local experiences, personalization, and excellence in everything we do are our top priorities.

Lobby Bulgari Hotel & Resorts Milan

64

II. Unique Selling Proposition

Time

Integrating digital technology with the utomost service to provide ease of travel for esteemed guests.

Mindfullness

It is our mission to provide a comfortable, relaxing, and luxurious experience to all of our guests. Our award winning Bulgari Spa, The Workshop Gymnasium, and Il Benessere wellness refreshment bar help our guests attain mental and physical harmony.

Authenticity

Our unique Roman heritage is the inspiration for all that we do. We do as the Romans do, and deliver to our guests the world’s most luxurious and culturally refined experiences.

Personalization

We understand that every guest is perfectly unique, so we make it our mission to handcraft experiences for each individual preference and desire.

Community

At Bulgari Hotel & Resorts we focus on fostering a community of individuals who savor the arts and revel in the exploration of local culture.

65

Marina Bulgari Hotel & Resorts Dubai 66

BULGARI HOTELS & RESORTS ROME As the line begins to blur between luxury and affordable luxury accommodations, how can Bulgari Hotels & Resorts communicate its value to consumers in the next decade?

The answer is to build upon its brand equity by strategically adding new location and positioning the brand amongst the world’s top luxury destinations. Bulgari Hotels & Resorts has a rich Italian heritage inspired by the magnificence of Ancient Rome. By 2028, Bulgari Hotels & Resorts should focus its efforts on a location in Rome to serve as the embodiment of the Bulgari lifestyle. Rome will be Bulgari’s ultimate luxury experience that provides every guest with a truly authentic, yet contemporary Roman experience. With an emphasis on art and culture, Bulgari Rome will be the top destination for the modern connoisseur.

While paying homage to Roman culture, Bulgari Hotels & Resorts Rome will exceed the expectations of guests by offering incomparable service, local experiences, personalization, and excellence in everything. In 2028, the very exclusive Bulgari Hotels & Resorts Rome will be the most aspirational Bulgari destination yet.

67

IV. Cannata’s Diamond Bulgari Hotel & Resorts Rome

Purpose Artistic Expression: Bulgari Hotels & Resorts’ Rome, will pay homage to the rich Roman history of the brand. At the heart of Bulgari Hotel & Resorts Rome is its passion for local culture which includes fine arts, music, cultural events, wellness, cuisine, and the Bulgari community. The brand will fuse both Roman and modern Italian elements to connect consumers with the heritage of the brand.

Rivea London Bulgari Hotel & Resorts London

68

Excellence: The Roman luxury experience will embody the lifestyle of the brand while offering its patrons the utmost service, personalization, and local experiences.

Rome will be Bulgari’s ultimate luxury experience that provides every guest with a truly authentic, yet contemporary Roman experience. Bulgari Rome will be the top destination for the modern connoisseur.

People It is crucial that any luxury hotel operator employ a high degree of human connection with their guests. This is no exception for Bulgari Hotel & Resorts, where the high standard of service is executed by a team of dedicated and expert employees. All employees will deliver the utmost customer service and be highly skilled in their craft. Every employee will be an ambassador for the Bulgari brand and will embody local customs and culture to fully immerse each guest in the local experience.

Every experience will be personalized for each unique guest.

This will be carried out by collecting guest preferences, attitudes, schedules, basic needs, and fundamental information.

The hotel will use a sophisticated customer relationship management software to collect and store customer data. It is imperative to the service culture that every guest be greeted promptly and referred to by their name.

69

IV. Cannata’s Diamond Bulgari Hotel & Resorts Rome

Product Destination

Bulgari Rome will be situated in the Colonna district which offers a blend of historical Italian institutions, high-fashion shopping avenues, and outdoor cafes. The Bulgari Rome wishes to offer its guests a more private experience. Colonna is an elegant neighborhood that shelters residents from the fast-paced and tourist-heavy Rome. Many of Rome’s luxury accommodations are situated in Colonna.

Values: Functional, Symbolic, and Aesthetic

The Bulgari Boutique

Hōseki Restaurant Bulgari Hotel & Resorts Dubai

Bulgari Hotel & Resorts Rome will include its very own Bulgari boutique in the hotel. The boutique will be accessed through the hotel lobby, creating a more exclusive shopping experience for the guests. However, “in the know” luxury travelers and shoppers will be able to access the store, but in smaller quantities due to the restrictive entrance. To enrich the luxury shopping experience, the Bulgari boutique will offer exclusive lounges for hotel guests that provide light refreshments and exceptional service. The VIP experience will allow guests to explore and learn about the craftsmanship and design of Bulgari products. Personal stylists will also be at the disposal of every guest.

70

The Restaurants

Bulgari Hotel & Resorts Rome will feature a diverse selection of culinary experiences that curate local flavors. The culinary team will be comprised of highly skilled chefs, bartenders, and baristas. Il Romano will offer hotel guests the opportunity to learn local recipes and signature Bulgari dishes in personalized culinary classes. Il Romano will also encourage customers to tour the wine cellar to learn about and experience the taste local wines. The ballroom – La Sala Da Ballo will host special events. Bulgari Rome’s dining experiences are:including health drinks and light nutritious snacks.

Il Romano

Il Bar Di Roma

La Pasticceria

Il Benessere

Fine Dining & Breakfast

Espresso & Pastry Café

Lobby Bar

Wellness Refreshment Bar

Campi Elisi Pool Bar

71

IV. Cannata’s Diamond Bulgari Hotel & Resorts Rome

Product La Galleria

To highlight Italian art and culture the Bulgari Hotel & Resorts Rome, the hotel will feature its very own art gallery – La Galleria. La Galleria will curate pieces from various periods in Roman history including Ancient Rome, the “La Dolce Vita” period, and contemporary work. These pieces will be connected to Bulgari’s culture and will educate guests on the inspiration for its fine products. Guests will be provided with tours in the gallery to enhance their knowledge of Rome and the Bulgari story. The hotel will hire local artists to host luxury “paint night” events in La Galleria.

Il Cioccolato Bulgari Hotel & Resorts Tokyo 72

Wellness Offerrings

To provide guests with heightened peace of mind and physical wellness, the hotel features the Bulgari Spa Rome, the Workshop Rome (fitness center), and the wellness refreshment bar - Il Benessere. The Bulgari Spa Rome is equipped with private Roman Baths that can be reserved upon the guest’s request. These are separate from the public bath house and are integrated with the spa experience. The spa uses locally sources products and techniques along with the following services: world therapies, massages, facials, body treatments, nails, and hair.

The Workshop Rome offers guests, state of the art fitness facilities with expert personal trainers, yoga teachers, and physiotherapists. Il Benessere will be located near the spa, fitness, and pool facilities and will offer guests a true taste of personal wellness including health drinks and light nutritious snacks.

Product Il Giardino

In true Roman style, the Bulgari Rome will design its own Garden – Il Giardino. In Ancient Rome, gardens were architectural masterpieces where every element was perfectly balanced and symmetrical. These gardens offered Romans a place to relax, grow ornamental plants as well as fruits and vegetables, and enjoy soothing bubbling fountains.

Il Giardino will be modelled in the same fashion and will provide guests with a taste of Roman culture. Il Giardino will be the perfect place to host special events. Il Giardino will gather the Bulgari community and immerse guests in the culture by providing live local performances. The patio of Il Romano along with La Pasticceria will open onto Il Giardino.

Il Romano will have its own small herb, spice, fruit, and vegetable garden that will be used to craft signature dishes. Guests will be encouraged to visit the garden and meet with the chef to learn about the local ingredients curated in every dish.

Il Bagno Romano

Roman bath houses were the perfect place for Roman citizens to read, relax, socialize, and network. As architectural symbols of Roman culture, Bulgari Rome will design its pool to resemble a Roman Bath. The pool, Il Bagno Romano, will be inspired by the Roman Bath’s classic style and function. Il Bagno Romano will offer guests a contemporary feel with elements such as private cabanas, Campi Elisi (a pool bar), palm trees and ornamental plants, and a patio space for events to encourage socializing at Campi Elisi. Events include: The Workshop morning yoga and meditation, PR events, and nighttime socializing at Campi Elisi. Il Bagno Romano will enforce a dress code of off white/ white attire that will enhance the exclusivity of the experience. This will help foster luxury associations and a lavish image for Bulgari Rome.

73

IV. Cannata’s Diamond Bulgari Hotel & Resorts Rome

Price As a top range luxury brand, Bulgari Hotel & Resorts will use the extra pricing model. Bulgari Hotel & Resorts Rome has set to position themselves as the most luxurious luxury experience in Rome and amongst the top in the world. All of the hotels prices are based off the top 5-star luxury accommodations in Rome such as the Hotel De Ruisse and Hotel D’inghilterra. The pricing has been significantly increased from the base prices of the local competitors. Prices may fluctuate due to demand during certain parts of the year. The hotel does not offer sales or promotions. These are approximate pricing based off a 20% markup of our competition: Villa Garden View - €6,000 per night Suite Historic View - €5,100 per night Suite City View - €4,800 per night Two bedroom city view - €2,500 per night One bedroom city view €1,700 per night Spa Membership Pool Bulgari Hotel & Resorts London 74

Placement Hear

The Bulgari Hotel & Resorts practices a highly controlled distribution model that allows for a mere 60 rooms, to emphasize its scarce supply and enhance its luxury appeal. The room numbers have been based on Bulgari London’s 85 rooms. The room availabilities are:

Italian opera and classical music in the lobby and special live performances in the garden.

See

The striking and unique balance of Roman and contemporary architectural designs. Guests may admire pieces of art in La Galleria and the Bulgari Boutique.

Villa Garden View | 3 Suite Historic View | 4 Suite City View | 5 Two bedroom city view | 24 One bedroom city view | 24

Taste

Il Romano, La Pasticceria, Campi Elisi, Il Bar Di Roma, Il Benessere

Bulgari Hotels & Resorts Rome will heavily focus on digital distribution. The guests will be able to book via the Bulgari mobile application and Bulgari website. Customers will be directed to the Bulgari Hotel & Resorts website from the LVMH and Marriott website. Customers will be able to book through select third-party booking websites.

Smell

Fresh Bulgari-inspired flowers will be displayed throughout the hotel and will radiate with a floral scent. Bulgari fragrances and candles will be included in every room, suite, and spa. They can be purchased in the Bulgari Boutique or upon request at the concierge.

Bulgari Hotel & Resorts will simultaneously stimulate and engage all senses of its guests to encourage various points of sale. Bulgari will stimulate and engage the senses by:

Touch

Elements of the design will include fine materials for the luxurious comfort of the guest.

75

IV. Cannata’s Diamond Bulgari Hotel & Resorts Rome

Promotion To celebrate the grand opening of Bulgari Hotel & Resorts Rome, a PR launch party will take place in Il Giardino.

Invites will be sent out to loyal Bulgari Hotel & Resorts customers, Bulgari customers, and connoisseurs of travel, cuisine, wine, art, fashion, spa, and music. The Bulgari Boutique will feature special pieces for purchase at the event.

Social media postings of the event will be encouraged.

The Bulgari Hotel & Resorts App will integrate with the existing Bulgari Vault App. This App will allow consumers to learn about destinations, local and global hotel events, payment and booking options, and reservations at hotel facilities. A private chauffeur can also be arranged through the app.

Social platforms will highlight the Bulgari lifestyle. Primary platforms will be Instagram and YouTube. Instagram will capture moments and share stories about unique Bulgari travel experiences across the globe. The Instagram page will provide a link to the brands YouTube channel that creates video content focused on local travel stories. These segments will be hosted by various connoisseurs in the fields of travel, cuisine, wine, art, fashion, spa, and music.

The Bulgari YouTube channel will create a space for customers to engage with the brand and learn about its mission to offer luxurious, localized, and cultural experiences.

To build associations with Bulgari as a top luxury destination, the brand will publish a travel magazine – The Bulgari Hotel & Resorts Magazine. This publication will feature travel stories from its global destinations on topics such as art, cuisine, wine, cultural events, etc. It will feature interviews from experts such as Bulgari chefs, fitness instructors, and craftsmen. Every issue of the magazine will focus on a specific destination and topic such as “Bulgari’s Signature Dishes in Bali.” This will be sent to current and previous hotel guests via email and in hard copy in every hotel. This publication will also be sent out to partnered airlines to display in first class cabins.

Bulgari Hotel & Resorts will advertise in the top luxury travel magazines such as Condé Nast, Luxury Travel Magazine, etc. The advertisements will feature a QR code which can be scanned to direct customers to the specific Bulgari website offering. In all of its locations, Bulgari Hotel & Resorts will showcase their global destinations through both an interactive life-size map in the lobby and video content in every room.

76

Deluxe Beach View Room Bulgari Hotel & Resorts Dubai

77

F. Work Cited Andrea Alivernini, Emanuele Breda and Eva Iannario, “International tourism in Italy (1997-2012).” The Bank of Italy, Jul. 2014, https://www.bancaditalia.it/pubblicazioni/ qef/2014-0220/220.pdf. Accessed 16 April, 2018.

“Benchmarking Travel & Tourism in Italy: How does Travel & Tourism compare to other sectors?” World Travel & Tourism Council, Nov. 2013, https://www.wttc.org/-/media/files/reports/benchmark%20reports/country%20results/italy%20benchmarking%202013.pdf. Accessed 15 April, 2018.

“Bvlgari History, Style and More...” Eyeinform Blog, 27 Jan. 2011, eyeinform.wordpress.com/2011/01/26/bvlgari-history-style-and-more/.

“Bvlgari – The Brand Story.” The Watch Guide, 9 Nov. 2016, www.ethoswatches.com/the-watch-guide/bulgari-the-brand-story/.

Doulton, Maria. “Bulgari: a History of Style.” Www.thejewelleryeditor.com, www.thejewelleryeditor.com/jewellery/article/bulgari-history-of-style-celebrities-iconic-design/.

Francesco Giumelli and Davide Maneschi. “Why Italians Vote for Berlusconi.” The New Yorker, 26 Feb. 2013, https://www.nytimes.com/2013/02/27/opinion/global/whyitalians-vote-for-berlusconi.html. Accessed 14 April 2018.

“Italy and the Euro.” European Commission, https://ec.europa.eu/info/business-economy-euro/euro-area/euro/eu-countries-and-euro/italy-and-euro_en. Accessed 14 April 2018.

“Italy Profile – Timeline.” BBC News, 13 Dec. 2017, http://www.bbc.com/news/world-europe-17435616. Accessed 14 April 2018.

Jaaskelainen, Liisa. “Topic: Hotel Industry.” Statista, www.statista.com/topics/1102/hotels/. https://www.nasdaq.com/article/2017-set-to-bring-modest-growth-for-us-hotel-industry-cm817193 Kairos Future. “Tourism flows from China to the European Union - current state and future developments.” European Travel Commission, Dec. 2016, https://www.eutravelpartnerships.org/wp-content/uploads/2017/07/Tourism-flows-from-China-to-the-European-Union.pdf. Accessed 16 April 2018.

“Luxury Goods: World Market For Luxury Goods.” Euromonitor International, March 2018, page 11.

“Luxury Hotels (5-star plus): Companies.” Euromonitor International, 2018, http://0-http://0-www.portal.euromonitor.com.library.scad.edu/portal/dashboard/index.

Accessed 11 May 2018.

“Luxury Hotels (5-star plus): Forecast Growth.” Euromonitor International, 2018, http://0-http://0-www.portal.euromonitor.com.library.scad.edu/portal/dashboard/index.

Accessed 11 May 2018.

“Luxury Hotels (5-Star Plus) in the US.” Euromonitor International, Feb. 2018, http://0-www.portal.euromonitor.com.library.scad.edu/portal/analysis/tab. Accessed 11 May 2018.

“Luxury Hotels (5-star plus): Market Size.” Euromonitor International, 2018, http://0-www.portal.euromonitor.com.library.scad.edu/portal/dashboard/index. Accessed 11 May 2018.

“Marriott International Inc in Travel World.” Euromonitor International, Jan. 2018, http://0-www.portal.euromonitor.com.library.scad.edu/portal/analysis/tab#. Accessed 11 May 2018.

78

Martin Roll. “Shangri-La Hotels & Resorts - Bringing Asian Hospitality To The World.” Martin Roll: Business and Brand Leadership, 16 Aug. 2017, martinroll.com/resources/ articles/asia/shangri-la-hotels-resorts-bringing-asian-hospitality-to-the-world/ Muret, Dominique. “LVMH to Reopen Paris La Samaritaine Complex with DFS Luxury Store in 2019.” Fashion Network: Retail, Fashion Network , 30 Jan. 2018, uk.fashionnetwork.com/news/LVMH-to-reopen-Paris-La-Samaritaine-complex-with-DFS-luxury-store-in-2019,942282.html#.WwrwQ2aZO8U. “New Openings.” Four Seasons Hotels, https://www.fourseasons.com/newopenings/?c=t&_s_icmp=tmenu. Accessed 12 May 2018.

“Philosophy of Design.” Armani Hotels & Resorts, http://www.armanihotels.com/en/philosophy.html. Accessed 12 May 2018.

“POST-LUXURY TRAVEL PART I: LODGING REIMAGINED.” Euromonitor International, Apr. 2017, http://0-www.portal.euromonitor.com.library.scad.edu/portal/analysis/ tab. Accessed 12 May 2018.

Rachel Donadio and Elisabetta Povoledo. “Berlusconi, Magnetic and Divisive, Whose Politics Were Personal.” The New Yorker, 12 Nov. 2011, https://www.nytimes. com/2011/11/13/world/europe/berlusconi-both-drew-and-divided-italians.html. Accessed 14 April, 2018.

“Service Culture” Four Seasons Hotels, https://www.fourseasons.com/about_four_seasons/service-culture/. Accessed 12 May 2018 “The Exquisite Hallmark of Holistic Luxury and Decadence: BVLGARI Story.” Sucess Story, https://successstory.com/companies/bulgari “THE FUTURE OF LUXURY.” TrendWatching, trendwatching.com/trends/the-future-of-luxury/. Accessed May 1.

Townsend, Sarah. “Emaar Puts Plans for Third Armani Hotel on Hold.” Arabian Business: Travel and Hospitality , Arabian Business, 3 May 2015, www.arabianbusiness.com/ emaar-puts-plans-for-third-armani-hotel-on-hold-591413.html.

Webb, Steve. "Marriott Unveils Bulgari Luxury Brand." National Real Estate Investor, vol. 43, no. 3, Mar. 2001, p. 16. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=buh&AN=4200643&site=bsi-live.

Wouter Geerts. “Post-Luxury Travel: New 2-Part Report Investigates the Transformation of Luxury.” Euromonitor International, 24 Apr. 2017. Page 1.

Yılmaz, Yıldırım. “Impact of Strategy on Efficiency in the Luxury Hotel Industry of Turkey.” Anatolia, vol. 24, no. 2, 2013, pp. 206–220., doi:10.1080/13032917.2012.753509. https://www.worldhotels.com/industry-news/trends-luxury-hotel-industry.

Zacks.com. “2017 Set to Bring Modest Growth for U.S. Hotel Industry.” NASDAQ.com, Nasdaq, 17 July 2017, www.nasdaq.com/article/2017-set-to-bring-modest-growthfor-us-hotel-industry-cm817193.

“6 Hotel Trends to Watch in 2018.” U.S. News & World Report, U.S. News & World Report, https://travel.usnews.com/gallery/6-hotel-trends-to-watch-in-2018

79

Rebecca Tummers, Labdhi Vora, Molly Buice, Daryn Hughes Design By: Rebecca Tummers Alessandro Cannata LXFM 730 Bvlgari Hotel & Resorts Future Brand Building Strategy (2028)

80