Give an overview of the Market Analysis by discussing the following:

About Hotel Lpsum

Hotel Ipsum was a modern, luxury 5 stars hotel offering 80 fully equipped rooms in the heart of Bogotá,
the capital of Colombia and one of the most dynamic business cities in Latin America. Built in June 2010
and designed in a minimalist relaxing décor, Hotel Ipsum offered personalized services to its customers,
who had at their disposal an extensive range of comprehensive business facilities. Companies from a
wide range of industries selected Hotel Ipsum as their "home away from home" in Bogotá due to the
previously mentioned facilities in addition to its strategic location in the city. Hotel Ipsum became soon a
well known “business hotel”, focused on business travellers and with corporate contracts with some of the
largest corporations in Colombia like Convergys, Bank BBVA, Bayer, Unysis or Apple. In 2012 Hotel
Ipsum was doing quite well, considering the competitive scenario faced in the Bogota’s hotel market

THE TOURISM INDUSTRY AND THE HOTEL SECTOR IN BOGOTA

 Bogota was the capital of the Republic of Colombia, and the main industrial and economic center
of the country. In 2012 the capital accounted for approximately 25% of the total GDP and had a
steady growth in the area of 10% annually.
 It was the largest and most populated city in the country with around 8 million inhabitants. A
more stable political situation in the country had been followed by a substantial improvement in
the security across the capital's streets, which was fostering business and leisure travelling to
Bogota.
 Many indicators were showing a very positive trend in the number of visitors from other countries,
with an important impact from the growing number of tourists from United States.

Give an overview of the Market Research by discussing the following:

Competitors of Hotel Lpsum:-

There are various hotels that are giving stiff competition to Hotel Lpsum like

HOTEL PAVILLON ROYAL: A well-established five start hotel that is part of the Hotel Royal chain that
also runs Radisson hotels in Colombia, just refurnished and added a new tower with 72 suites.
Average room rate is around US$199.

HOTEL BH PARQUE 93: Part of a Colombian hotel chain called Business Hotels with more than 40
years’ experience in the industry, BH Parque is a four star hotel that opened 3 years ago. Its
average fee per night is US$150.

 Discuss how Rafael has identified these as competitors.

Of all the competitors, Rafael considered Cite Hotel was probably the most serious and direct
competitor as it provided similar facilities as Hotel Ipsum with a focus on business customer’s
 needs, but having more leisure elements like a swimming pool at the terrace. Cité Hotel had a
higher customer rating on Tripadvisor.com than Hotel Ipsum.

Give an overview of Consumer Behavior analysis by discussing the following:

If we talk about Consumer Analysis they have targeted business class people who come to
Columbia for business tours and other category is about tourist.

Even they are providing services at a reasonable price so that everybody can afford it. And business
travellers will be using Hotel services more frequently so they need permanent solution of cost so
that every time they pay it should be reasonable.