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Analysis of Ritz-Carlton's Success

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Submitted By thbond
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Analysis of Ritz Carlton’s Success

Abstract

For over 100 years The Ritz-Carlton has set the standard for luxury and lifestyle hotel service. The chain has expanded to 81 properties in 27 countries and employees 38,000 people while continuing to win quality and service awards, receive consistent accolades from independent reviewers and maintain strong financial performance. This paper analyzes the underlying factors associated with this consistently superior performance and in particular how this is accomplished on a global scale. Through a well-defined set of values and philosophies and consistent application proven leadership and management methods, The Ritz-Carlton truly has developed into the gold standard of luxury hotel accomodations.

Analysis of The Ritz-Carlton’s Success
The Ritz-Carlton proudly announces on their website: You can't be a legend without a great story... The Ritz-Carlton has been recognized with numerous awards for being the gold standard of hospitality. Now with 81 properties in 27 countries and 38,000 employees, The Ritz-Carlton continues to achieve this superior service level regardless of the workforce or culture of a country in which it operates. The hotel chain accomplishes this through a combination of culture, policy, procedure and management methods that they refer to as The Gold Standards. In fact they lay out these standards for the world to see. Not only are the Gold Standards outlined on their web site; they even go so far as to open up their corporate Leadership Center as a resource for other organizations interested in benchmarking the business practices that led to two Malcolm Baldrige National Quality Awards.
The Gold Standards, as outlined on the Ritz-Carlton web site, are the collection of values, beliefs and commitments that the foundation of the Ritz-Carlton operation. The Gold Standards include: *

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