Two years into a strategic reset, CEO Laurent Kleitman outlines how the brand plans to expand its luxury hotel offerings both geographically and conceptually—without losing its quality of service.
Can a luxury brand double its size without diluting its value? That’s the aspiration behind Mandarin Oriental Hotel Group’s strategic reset, two years in the making under the leadership of CEO Laurent Kleitman.
By Ryan Mann, Ellen Scully, Matthew Straus, and Jillian Tellez Holub
McKinsey & Company
Luxury hotels know that the secret to top-tier customer experience is a culture of excellence. Luxury hospitality begins with a signature property, but a well-situated, beautifully designed hotel is only a start. Stellar service, driven by devoted hotel staff, is what makes a great property come alive. As one general manager (GM) of a luxury hotel told us in an interview, “Our facility is our stage, and guests are paying for a performance.”
Demand for luxury tourism and hospitality is expected to grow faster than for any other industry segment, according to a McKinsey & Company research paper. This growth is being powered in part by a sharp rise in the number of individuals globally with net worths between $1 million and $30 million.