Pariso resort som 301 final

Pariso ResortSchool of Management 301-003

Team MasonMohamud AdenMinh HuynhLuis GuillenRyan WilsonThang NguyenNhung Do

Pariso Resort – Mission Statement

“Developing long term financial success through the innovation of tourism and providing our customers with the unforgettable vacation experience of a lifetime”

OpeningPurpose: Help stimulate economic growth in Costa Rica while providing substantial financial returns for investors

Problem: Costa Rica currently suffers from a reduction in tourism which is a 68% of Gross Domestic Product

Need: New attraction that reintroduces Costa Rica to its former tourist volume

Solution: Pariso Resort, a tourist attraction and vacation experience unlike anything else

Costa Rica – Cultural Profile•People

• Large European population• Spain primary origin country• 10%-15% Nicaraguan• 3% Jamaican immigrant • Non materialistic lifestyle• Often only one car per family• Rely on bus for transportation

•Language• Mainly Spanish• Secondary English

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Costa Rica – Cultural Profile•Government

• Democratic Republic• Constitutional checks and balances• No military, only:

• Domestic security• Police

• Very strict laws • Alcohol• Drunk driving

Costa Rica – Cultural Profile•Social

• One of best and safest places to live• Unique dress codes – often similar to U.S• Entertainment

• Music• Dance• Sport • Movies

• Friendly• Costa Ricans known as “TICOS”• Welcome visitors• Identified as “Pura Vida” – “People full of happy life”

• Mainly Catholic• Freedom of religion

• Multicultural society• High standards of life and education

Solution – Pariso Resort•Seaside resort•Key attraction – Private beach•Entertainment

• Indoor/outdoor swimming pools• Scuba diving• Casino• Various recreational sports (Large Golf course)• Night life attractions

•Services• Spa• Fitness• Training sessions• Certifications• Fine dining

Solution – Pariso Resort•Benefits

• Potential for great investor returns• Competitive • Multiple sources of revenue• Strong demand for accommodations in tourism industry• Attractions for wide variety of tourists

• Designed to fully occupied year round

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Operational Structure•Top: Functional Structure•Divisional Structure•More Formal Structure at Top•Divisional Structure Helps Company Adjust to Change in Market•Employees are Job Focused •Help Meet Customer Needs

Food and Beverage

Lodging

Business Developme

nt

Operations

Planning and

Development

Events and

Scheduling

Culinary

Finance

PE Security

Board of Directors

CEO

Payroll

HR

Accounting

Advertising

New Market

Area

Board Of Directors

CEO

Departments

Divisions

Management Team

Employees

Board of Directors•Appointed By Investors•Approve All Pay for Employees•Set Policies•Approve all Financial Decisions•13 Directors•Set own Salaries

CEO

Reports Directly to Board

Manages Company Departments

Oversees Major Operations of Company

Departments•Four Major Departments•Closer interactions with Customers•More Flexible to Change in Market•Business Development•Planning and Development•Finance•Operations

Stock Illustration Source, Illustration Source, www.illustrationsorce.com/stock

Divisions•Managers Report to Head of Departments•Overall Operations of Hotel•Centralized Focus on Division Goals•Competition Among Divisions•Closer Customer Focus•Employees Specialize in Job

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Financial InformationInitial Costs

Const

ruct

ion

Insp

ectio

n

Supe

rvisio

n

Admin

istrat

ion

Real E

stat

e Ta

x

Publ

ic R

egistry

Tax

Engin

eer D

esig

ns

Real E

stat

e

Insu

ranc

e

Tota

l Cos

ts$0

$4,000,000

$8,000,000

$12,000,000

$16,000,000

$20,000,000

Financial InformationProjected Yearly Costs

Year 1 Year 2 Year 3 Year 4 Year 5 $-

$1,000,000.00

$2,000,000.00

$3,000,000.00

$4,000,000.00

$5,000,000.00

$6,000,000.00

$7,000,000.00

$8,000,000.00

Year 1 Year 2 Year 3 Year 4 Year 5 $-

$5,000,000.00

$10,000,000.00

$15,000,000.00

$20,000,000.00

$25,000,000.00

Financial InformationProjected Yearly Revenues

Financial InformationProjected Yearly Profits

Year 1 Year 2 Year 3 Year 4 Year 5 $-

$2,000,000.00

$4,000,000.00

$6,000,000.00

$8,000,000.00

$10,000,000.00

$12,000,000.00

$14,000,000.00

Marketing

Google

FaceBook

Twitter

Marketing

•Marketing mediums• Television – U.S, Canada, Europe• Radio – Costa Rica, U.S, Canada• Billboard – Costa Rica, U.S, Canada, Europe• Bus side advertising – Costa Rica, Europe• Online advertising – U.S

• FaceBook• Google• Yahoo• Twitter

Strengths

Weaknesses

Opportunities

Threats

SWOT

Marketing•Target markets

• Costa Rican locals• U.S tourists• Canadian tourists• European tourists

•SWOT Analysis• Strengths

• Competitive Pricing• Potential for great profits

• Weaknesses• New business• Initial investments

• Opportunities• Expansion

• Threats• Other popular resort areas• Other new entries in resort business

MarketingProduct, Price, Place, Promotion

•Product• Unique resort experience

•Price• Competitive pricing• Customer incentives• Beat any comparable resort price by 5%

•Place• Along Caribbean in the city of Puerto Rimon

•Promotion• 5% new customer discount• Loyalty program – 5% cash back on future stays• Transfer customer program – 2 free VIP passes• Referral program – 10% off referrer entire stay

Product

Price

Place

Promotion

LimitationsBuilding Codes

•Construction permit - licensed architect or engineer•No construction in public zone

• Restricted zone limited to three stories• Intermediate zone – up to five stories• Internal zone – up to eight stories

LimitationsEntry Requirments

•Tourists from certain countries – 90 day stay without visa•Tourists from other countries – 30 day stay without visa•All other tourists must obtain visa from Costa Rican Embassy

•Questions?

•Please contact for further information no later than 05/07/2011

•Contact Information• Ryan Wilson – rwilso14@parisoresorts.com• Cell - (703) 123-4567

For More Information

ReferencesBackground Note: Costa Rica. (2011, February 10). Retrieved April 12, 2011, from U.S Department of State: http://www.state.gov/r/pa/ei/bgn/2019.htm Bainbridge, R. (2010). Retirement Costa Rica. Retrieved April 8, 2011, from Bargain Real Estate in Costa Rica: http://www.retirement-costa-rica.com/bargain-real-estate-in-costa-rica/index.php Business by the numbers: Hotel revenue. (2011, February 7). Retrieved April 8, 2011, from San Marcos Mercury: http://smmercury.com/17722/business-by-the-numbers-hotel-revenue/ Costa Rica. (2010). Retrieved March 15, 2011, from Costa Rica: http://www.costarica.com/business/numbers-&- statistics/salary/ Costa Rica. (2010). Retrieved April 11, 2011, from Costa Rica: http://www.costarica.com/real-estate/information/building-a-house/the-building-process/ Costa Rica Real Estate Service. (2010). Retrieved April 11, 2011, from Buying or Building Your Costa Rican Dream Home: http://www.costaricarealestateservice.com/resource_center/dreamhome.asp Costa Rica Travel Tips. (2002). Retrieved April 12, 2011, from Costa Rica - Ecotourism: http://www.costarica- ecotourism.com/Costa-Rica-Travel/traveltips.htm  

References Cont.Gamage, P. (2010, june 10th). Costa Rica Culture. Retrieved April 20th, 2011, from Tourism info: http://www.tourism.co.cr/costa-rica-art-and-culture/costa-rica-cultural-heritage/costa-rica-culture.html Grewal, D. (2007). Marketing. New York: McGraw/Irwin. Heizer, J., & Render, B. (2011). Operations Management. Upper Saddle River, New Jersey: Pearson Education Inc. Hotel Online. (2010). Retrieved April 8, 2011, from Hotel Insurance Expense: Minor Cost, Major Concern; : http://www.hotel-online.com/News/PR2005_2nd/Jun05_InsuranceExpense.html Hotel Online. (2010). Retrieved April 8, 2011, from Hotel Maintenance Creep: Nuts, Bolts, and Bodies : http://www.hotel-online.com/News/PR2006_3rd/Aug06_HotelMaint.html  Lytle, T. (2011). Labor Laws and Policy - Costa Rica. Retrieved March 15, 2011, from The REAL Costa Rica: http://www.therealcostarica.com/costa_rica_business/costa_rica_labor_law.html Minimum Wage In Costa Rica To Rise 2.63% On January. (2010, October 22). Retrieved March 15, 2011, from Insidecostarica: http://www.insidecostarica.com/dailynews/2010/october/22/costarica10102204.htm 

References Cont.New Law Regulates Coastal Development in Guanacaste, Costa Rica. (2010, April 10). Retrieved April 12, 2011, from costaricapages: http://www.costaricapages.com/blog/business/guanacaste-land-regulations/829 Petersen, R. A. (n.d.). The Legal Guide to Costa Rica. Retrieved April 12, 2011, from infocostarica:

http://www.infocostarica.com/legal/buying3.html Weaver, D. B. (1999, September 10). Magnitude of ecotourism in Costa Rica and Kenya. Retrieved April 20, 2011, from Science Direct: http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6V7Y-3XCFMTV-3&_user=650615&_coverDate=10%2F31%2F1999&_rdoc=1&_fmt=high&_orig=gateway&_origin=gateway&_sort=d&_docanchor=&view=c&_acct=C000035118&_version=1&_urlVersion=0&_userid=650615&md5=8868d66