In the next five years, not only does Kimpton aim to double its numbers of boutique hotels all over the country but it also wants to venture into any management opportunities that are presented in the future. Furthermore, Kimpton’s aspiration is to launch more hotels in territories other than the U.S, such as Canada. With many new recent openings, the enterprise dominantly seeks to launch new hotels at various states in the United States to expand its market share in the hotel business industry. As far as management opportunities, Kimpton has been successful in improving "other" hotel projects that are not their own. For example, a property in Cupertino was sold 2 years ago to KHRG Krug Inc. and since they did not specialize in hotel management, the new owners began rapidly losing revenue. They then enlisted Kimpton management in the once previously owned Kimpton Hotel, and sales began to climb once again. The dual philosophy of opening new hotels and acquiring management positions in already existing hotels together will expand Kimpton to markets and clients all over the world. Revenue is projected to double in the next few years for the Kimpton enterprise. As a result, our net sales will be improved in time, which will lead to an increase in both gross margin and the bottom line. Tying up all these financial components together, Kimpton’s market share will begin to dominate the upscale hotel industry.
In order to achieve all these goals, effective leadership is a must in attaining these desirable results. Management at Kimpton needs to pay attention to the wants and needs of their customer and implement various loyalty programs for their repeat customers, to show them that they are of value to the company. Employees are also an important part in the hotel’s success because after all, they are the ones who have direct contact with the customers in every transaction. Ongoing training programs for employee's is vital in keeping proper work efficiency and...
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