Kelly Semrad, Ph.d. Manuel Rivera, Ph.d. Robertico Croes, Ph.d.

Transcription

1 Kelly Semrad, Ph.d. Manuel Rivera, Ph.d. Robertico Croes, Ph.d. Rosen College of Hospitality Management, University of Central Florida June 30, 2015

2 Goal of this presentation? Introduce the markets that will help Curacao attain an 80% occupancy rate and $115 RevPAR in 2 years Introduce products that support these new markets

3 Hotel Stays Your tourists

4 Length of Stay Your tourists

5 Information Sources

6 Booking Behavior

7 Lodging Reservation Channels

8 Airline Reservation Channels

9 Spending by Country Spending The Venezuela USA Netherlands Colombia Others Spending US$-Lodging (only room expenses) $302 $402 $222 $273 Spending US$-Food/beverage (inside hotel) $80 $116 $48 $64 Spending US$-Food/beverage (outside hotel) $174 $128 $81 $81 Spending US$-Car rental $79 $47 $29 $55 Spending US$-Gasoline $19 $9 $6 $13 Spending US$-Taxi $8 $23 $10 $10 Spending US$-Public transportation $1 $3 $7 $2 Spending US$-Local arts/cultural events $11 $14 $6 $9 Spending US$-Shopping $115 $100 $172 $133 Spending US$-Internet/telephone $6 $3 $6 $5 Spending US$-Groceries/sundries $38 $23 $18 $16 Spending US$-Entertainment/nightlife/casino $17 $43 $35 $23 Spending US$-Water activities/recreation $40 $74 $19 $45 Spending US$-Other expenses $45 $35 $29 $25 Total Per Trip $936 $1,017 $689 $756 Total Per Day $73 $159 $136 $91

10 Who are the top performing segments? Top 6 performing market segments Two extracted for market efficiency 1. Innovative American traveler 2. Market Maven American

11 19% (Deal Seekers) 25% (Empty Nesters) 21% (Solo Boomers) 7% (Shopaholics) Who are these tourists? Females/Single Married with Kids Females, 62 years 56% females, 40 years 40 years years 60% single 40% single <%25,000 $25-$75,000 salary $25-$75,000 salary $25-$75,000 salary 61% Ven/Col Dutch/Venezuela 40% Other* 43% Ven 56% Repeat Repeat Visitors (60%) First timers 12% Dutch LOS % stay in hotels 75% stay in hotels 65% Repeat Visit Prefer Hotels LOS 7 days LOS % Hotel SSS SSS SSS LOS 6.22 $781 $1,043 $734 SSS High Price Sensitivity High Price Sensitivity Moderate Price Sensitivity $1,020 Moderate Price Sensitivity These 4 segments represent 72% of Curacao s tourists

12 Innovative American Traveler (11%) Satisfied Low brand loyalty Low price sensitivity Seeking new experiences Innovative Traveler

13 Psychographics 55% males; 50 years old, married with children 44% college degree 100% US$75,000 54% repeat visitors LOS = 7.59 nights Spending = $1, % rely travel agent 25% rely on the www 76% SSS 66% hotels & 34% all-inclusive resorts High satisfaction scores (4.75) Average perceptions of quality and value Low level brand loyalty Moderate price sensitivity Innovative travelers Many would like to return Good references (WOM)

14 American Market Maven (17%) American Market Maven Satisfied Moderate brand loyalty Quality seekers Low price sensitivity Innovative Big on WOM

15 Psychographics 54% males, 50 years old, married with children, US$75,000 40% college degree, 36% graduate degree 54% repeat visitor LOS 7.19 nights Spending $1, % did not use a travel agent to book their travel 27% used hotel websites to book accommodations Satisfied, quality, value 69% come for SSS 90% stay in traditional lodging accommodations (80% hotels, 10% all-inclusive resorts)

16 Quality Market Maven (17%) Moderate level brand loyalty (3.37) High quality consciousness (4.86) Moderate price sensitivity (3.43) Innovative traveler (4.6) Majority market mavens Share their experience on social media sites Would like to return to Curaçao (5.01) Good reference (5.23) Encourage friends & family to visit Curaçao

17 Overview of Image Message & Product Design/Delivery

18 Image Consumer-Based Brand Equity USA Safety, Food Taste and Sanitation, Hotel Quality, Ease of Mobility Netherlands Safety and Accommodation Quality Venezuela Colombia Restaurant Quality, Beach Quality, Ease of Access Highlight the key destination attributes that would predict a vacation choice to Curacao

19 Required Components Product Staging (current product) USA Worth the money, Sense of familiarity, Self Image, Quality of service Netherlands Worth the money, Activities, Familiarity Venezuela Colombia Attractions, Product quality, Worth the money Certain destination attributes predict future intentions to re-visit or recommend Curaçao Currently this information emphasizes that Curaçao needs to focus on meeting the needs and satisfying the tourist base.

20 Promotional implications Mid Atlantic region Promote new and different experiences A different Dutch Caribbean Develop & manage quality experiences Downtown creative lifestyle Re-brand Curacao through eclectic products Increase the ease of information access Market Maven Opportunities for social media use Market Maven Value propositions

21 Thank you! Robertico Croes Ph.d. Kelly Semrad Ph.d. Manuel Rivera Ph.d. Rosen College of Hospitality Management, University of Central June 29, 2015