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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
Remax, www.tamarindochris.com, Costa Rica Real Estate
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
Equal Housing Opportunity, Property Counselors Management Group, pcmgonline.com
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
Base Block Software, www.baseblock.com
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
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 – [email protected]• 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