![]() There are several reasons why a company might decide that moving upmarket is the right move for them.Firstly, by targeting the higher-end consumer, a company can increase its profit margins.Higher quality products or services can often be sold at a higher price point, and an upmarket consumer is often more willing to pay that price.This means that a business can more easily cover the costs associated with producing high-quality products, and can potentially increase its revenue as well. The company has created different brands catering to specific segments of the market and has also developed loyalty programs and specific initiatives to target millennials.By focusing on these segments, Choice Hotels has been successful in attracting customers from across the globe and continues to maintain its position as one of the top hotel chains in the world.Why is moving upmarket important?As a business grows and gains success, it often considers moving upmarket.This means that it intends to target a higher-end consumer, offering higher quality products or services. The company has different brands that cater to different segments of the market.For example, Comfort Inn and Quality Inn are targeted towards budget-conscious travelers who are looking for comfortable accommodation without breaking the bank.In contrast, Cambria Hotels and Ascend Collection are targeted towards upscale travelers who are willing to pay a premium for luxurious amenities and services.Choice Hotels has also expanded its reach by targeting different demographics.įor example, it has developed the Choice Privileges loyalty program that rewards frequent travelers with exclusive discounts and benefits.The company has also started targeting millennials, who are becoming increasingly important in the hospitality industry.Choice Hotels has created the Clarion Pointe brand, which is designed for millennials who are looking for affordable luxury hotels that offer unique experiences.Brand NameTarget MarketComfort InnBudget-conscious travelersQuality InnBudget-conscious travelersCambria HotelsUpscale travelersAscend CollectionUpscale travelersClarion PointeMillennialsTo sum up, Choice Hotels' target market is diverse and consists of various segments of the travel industry. In this blog post, we will explore the reasons why this move is important, the changes that are expected to happen in 2022, and what this means for you as a traveler.What is Choice Hotels' target market?Choice Hotels is one of the largest hotel chains in the world, with over 7,000 hotels in more than 40 countries.The company has a well-defined target market that it focuses on to ensure maximum growth and profitability.The target market for Choice Hotels comprises of business and leisure travelers who value quality, comfort, and value for money. ![]() Choice Hotels Record 2022 Hinged On Moving UpmarketĪre you on the hunt for the perfect hotel that suits your taste and meets your expectations? Look no further than Choice Hotels.As one of the leading hospitality companies, Choice Hotels has a solid reputation for providing travelers of all ages and backgrounds with high-quality lodging options that cater to their preferences and budget.Their target market encompasses all kinds of travelers, from young adults seeking budget-friendly accommodation to families and businesspeople in search of comfort and convenience.As Choice Hotels looks to expand its offerings and appeal to a wider audience, the company is moving upmarket to provide more upscale options.
0 Comments
Leave a Reply. |