Competitor analysis explains who your competitors are based on if they have similar characteristics as your company, why they are your competitors and their strengths and sources of differentiation as well weaknesses they may have.
Rittenhouse Hotel- the Rittenhouse Hotel is the second leading competitor to the Ritz Carlton. The Rittenhouse Hotel is a 5-star luxury hotel; they are located right in front of Rittenhouse Square. This property is similar with the Ritz Carlton because they are located in a well know spot, they have excellent service, and their rates are pretty similar. Although this hotel maybe an independent hotel, its presence in the Philadelphia market is unyielding.
Location- the Rittenhouse Hotel is located at the west edge of Rittenhouse Square. The location a very attractive area for residents and visitors of all ages. (Visit Philadelphia, 2016)
Top Hotel- The Rittenhouse Hotel was named the top hotel in Philadelphia by TripAdvisor. They were number 1 of 85 top hotels in Philadelphia. Rittenhouse Hotel has also rated the best hotel on Hotels.com, Yelp, and many more sites.
Philly Family Travel- the Rittenhouse Hotel Philly Family Travel service is a program where the children get as much attention as the parents do. There are amenities at the hotel just for the children of the families like Complimentary in-room movies with popcorn, baby amenities including bathtubs, children’s bathrobes and much more (Rittenhouse Hotel, 2016).
No Brand- the Rittenhouse Hotel is an independent hotel that is managed by Hersha Hospitality. They do not have a brand presences like Ritz Carlton does with Marriott. Ritz-Carlton is known all over the world with hundreds of properties and with them being under Marriott’s, it increases people’s awareness of the hotel. The Rittenhouse Hotel is only known within Philadelphia, some people might know other Hersha managed properties, but it is nothing like Marriott.
Reward Program- The Rittenhouse hotel does not have a rewards program. Without an award program give Ritz Carlton a leverage because the reward program gives the customer choice and incentives on staying with them.
Four Season- the Four Season is under construction in center city Philadelphia. The Four Seasons are not a current threat due to them still being under construction, but the Ritz Carlton must be mindful of them. They are a 5-star luxury property, located in center city; their rates will be similar or even higher than the Ritz Carlton, and they also have a well-known presences/clientele from the past Four Seasons.
Location- the Four Seasons area is going to be there key in their success. They will be on the top floors of the Comcast building, so the hotel will be a place of accommodation and sight to see. The second Comcast building will be the tallest building in Philadelphia.
Business- The floors below the hotel are office spaces to rent out. The business that is going to be in the building isn’t going to be a small organization, but rather bigger and well-known companies. When these companies fly in clients or someone of importance, they can set up a contract with a Four Season so the clients could just stay there.
Restaurant- The Four Season will have a top floor restaurant called Sky High Dining. The dinner room will be surrounded by a glass window, so while you eat you get the see the whole city. Sky High will be the highest restaurant in the Philadelphia.
Transportation- The second Comcast building will also be connected to the Suburban station so it will be easier for people to travel back and forth using Septa.
Publications- The hotel is getting free marketing through many popular magazines because of the construction of the Comcast building. The building will be known as one of Philadelphia landmarks and with that people will know about the Four Seasons.
Brand- the Four Seasons does not have much of a presence then Marriott does. Marriott is still own 41% of the hotels in Philadelphia, making them the dominant force here in the city.
Reward program- The Four Seasons does not have a loyalty program while the Ritz-Carlton has a very established award program.