THE MINISTRY OF EDUCATION AND TRAINING

FOREIGN TRADE UNIVERSITY

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MID-TERM REPORT

Title: CORPORATE HOSPITALITY

Lecturer: Dang Thi My Dung

Group 3
Email: nguyenhoailinh990@gmail.com
1. Nguyen Hoai Linh 1801015426
2. Nguyen Dinh Long 1801015459
3. Bui Thi Thao Ly 1801015474
4. Nguyen Thi Dieu Ly 1801015476
5. Dang Thi Nhat Mai 1801015483
6. Pham Hien Mai 1801015490
7. Nguyen Thi Kim Ngan 1801015539

Ho Chi Minh City, June 2019

 OUTLINE

I. Definition of Corporate hospitality

1. Seminars and Conferences

2. Appreciation Events

3. Company or Organization Milestones

4. Team-Building Events

5. Board Meetings and Shareholder Meetings

III. Advantages of Corporate hospitality

1. For employees

2. For clients

IV. Disadvantages of Corporate hospitality

V. How to build your business with Corporate hospitality

1. Have a clear business plan

2. Know the attendees

3. Cost & expenses

4. Positioning

5. Event selection

VI. Case study

VII. Development in the Corporate hospitality Industry

1. Develop products/service

2. Grab a chance to enter and explore more opportunities in this high-growth market

3. Face essential requirements and challenges

VIII. Conclusion

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 CORPORATE HOSPITALITY

I. Definition of Corporate hospitality

Corporate hospitality is defined, according to the Cambridge Dictionary, as “the fact of a company

entertaining its customers, employees, etc., for example by inviting them to big events, in order to

get or keep a good relationship with them”.

Business more than ever is about relationships and trust. Corporate hospitality, when done the right

way, is one of the most effective means of developing key business relationships by getting closer

to your customers, suppliers and of course your staffs, z by giving businesses the opportunity to

get to know their clients in an entertaining and non-pressured environment. Corporate hospitality

is also seen by many as an extension to a companies’ corporate branding.

II. Types of Corporate hospitality

From tiny meetings to grand-scale presentations and celebrations, in the business world,we boil

down to eight of the most common, and why these types of corporate event types are important for

productivity, employee happiness and overall company perception.

1. Seminars and Conferences

Seminars are usually shorter events, lasting a couple hours to a few workdays. They have

single or multiple speakers and generally keep all participants together in the same space.

Conferences, on the other hand, typically have multiple sessions. They are usually held at

hotels, beginning with a keynote session and then offering breakout sessions by topic.

Many companies and organisations plan and hold these meetings with targeted audiences

and provide them with relevant information.

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 2. Appreciation Events

There are limitless possibilities and types of appreciation events that organizations hold throughout

the year. Common programs include:

 Dinner and theater

 Day at the racetrack

 Suites at sporting arenas

 Day and evening cruises

 Private parties at music festivals

 Holiday parties

 Tickets to a popular event

These programs allow an event host to spend informal time with its guests in a nontraditional

environment, giving both parties an opportunity to build relationships and learn more about mutual

business priorities.

3. Company or Organization Milestones

Company milestone events vary significantly in their execution but tend to follow similar programs

as employee and client appreciation events. Milestone markers are often celebratory in nature and

can be limited to company employees or expanded to include clients, vendors, and even the local

community depending on the company's size and public presence.

Company milestones provide a business or organization the opportunity to celebrate a grand

opening or other major milestone or anniversary.

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 4. Team-Building Events

Outdoor and physical group activities like a ropes course or whitewater canoe ride epitomize the

corporate team-building event. In fact, companies all around the nation specialize in hosting team-

building events in complicated indoor and outdoor courses of their own design. Team-building

events can also include workshops about emotions in the workplace as well as sensitivity training,

incentive trips lasting between three and five days to build up the cooperation among staffs.

5. Board Meetings and Shareholder Meetings

Annual, biannual, or even quarterly meetings can be small internal meetings of board members or

prestigious large-scale business events for shareholders that range in size depending on the size of

the company and shareholder turnout. These can be anything from a room with six people, to a

hall of thousands.

Board meetings and shareholder meetings both serve important purposes. Board meetings serve as

an opportunity for board members to meet to review business performance and meet with company

executives to make important decisions. Shareholder meetings, on the other hand, provide

companies the opportunity to share recent performance, targets, future goals, and business

strategies with its shareholders. Shareholder meetings also relay the opinions of the public.

III. Advantages of Corporate hospitality

The primary purpose for encouraging corporate hospitality for staff, clients and business partners

alike is to increase engagement and build relationships. By increasing face-to-face interaction at

company outings, client events and team building exercises we can ultimately cultivate long-term

success. Here are some reasons why investing in corporate hospitality can be beneficial.

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 1. For employees

 Motivate employees and raise the productivity levels: Corporate hospitality raises the

company’s expenses but if it is done correctly, it has huge benefits for both employer and

employee. Under the principles of entertainment, if an employee feels that the

management is concerned and cares for him/her as a person and not just as another

employee, he/she will be more committed to his/her work. Entertainment activities and

work space break the monotony of work. An employee who feels appreciated will be more

fulfilled, satisfied and more productive. This will not only lead to higher productivity but

also satisfied customers and hence profitability for the company.

 Maintain high quality human resources: During employment, the offered benefits will

determine whether an employee commits to an organization or not. As such, good

employee hospitality enables a company to compete favorably with other employers for

the recruitment and retention of quality personnel.

 A satisfied employee will also not go looking for other job opportunities and hence an

employer will get to keep the best talents and record lower employee turnover.

2. For clients

 Strengthen customer relations: Formulating relationships with your clients gives you the

opportunity to earn their trust and increase the likeliness of them choosing your business

again. The connections made through corporate events and team building activities will

prove invaluable to the success of your organization.

 Increase visibility: Increasing your brand’s exposure will ultimately provide more business

opportunities and lead to a larger client base. Whether it is networking at a corporate event

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 or a luxurious retreat, finding new ways to expose your business can build brand awareness

and credibility.

 Set yourself apart: As the business market grows more and more competitive, it is crucial

to go the extra mile. By hosting corporate events, you create a memorable experience that

will differentiate your business from any competitors.

 Return on investment: While hosting a corporate event or luxury retreat requires time and

money, businesses can yield positive dividends following the event, if executed well. By

creating a top-of-the-line experience for clients, you will gain business that will create

long-term financial benefit.

IV. Disadvantages of Corporate hospitality

Corporate hospitality is an effective tool for entertaining both customers and personnels but it also

has some disadvantages that companies should also be aware of.

1. Depending on venues and duration, corporate hospitality may cost a lot of money. Besides

that, with any investment there is a risk. If a large event is being seen as an investment into

staff, customers or clients, it has to be acknowledged that there is no guarantee of a return on

that investment.

2. It's not possible to please all of the people. Whilst some might love the idea of corporate

entertainment, others might not like this kind of thing and therefore the event might not have

the desired effect.

3. Organizing a corporate event takes a lot of work of the managing committee. It takes a lot of

time and effort to plan, organize and monitor activities for this event. Meanwhile, we can focus

on other important jobs at the company.

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V. How to build your business with Corporate hospitality

1. Have a clear business plan:

This road map outlines the direction your business is heading and should guide your

choices around sponsorship and the events you choose to attend. The business plan

describes your value to customers and employees, business objectives, operations,

management, finances, products/services and market positioning with an analysis of your

target market and competition. If you are a commercial entity, the desire to create and keep

customers should be central to your plan. If your business plan needs a refresh, get onto

this before you spend any more money on corporate boxes at sporting events unless it is

for personal reasons and yours is a private business.

2. Know the attendees:

Hospitality is an 80:20 business - generally speaking the vast majority of revenue will come

from a small proportion of clients - and that is important to bear in mind when identifying

the clients that contribute most to the bottom line.

Besides, for the most successful rights-owners, these new experiences have been developed

thanks to - and as a result of - a deeper understanding of their evolving customer base; by

finding out who their clients are, what they want to buy and why they buy it.

3. Cost & expenses:

The approving authority must evaluate the importance of the event in terms of the costs

that will be incurred, the benefits to be derived from such an expense, the availability of

funds and any alternatives that would be equally effective in accomplishing the desired

objectives.

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 A brief statement of justification explaining how the expense fulfills these guidelines must

accompany the purchase requisition or authorization for payment or reimbursement. This

statement should also include a list of those who attended the event.

4. Positioning:

Your entire team needs to know how your products and services are different from that of

your competitors, especially if they are expected to be involved in business development

activities. The positioning statement should be short and clear, describing your "ideal

client", what they're really buying from you, who your competitors are, and what your USP

(unique selling proposition) is. Write this at the top of your Sponsorship and Corporate

Hospitality strategy (or along the side bar of every page) so it drives every aspect of the

plan.

5. Event selection:

Develop a strategy that includes a mix of events so your marketing calendar has a range of

options to choose from. People differ in what they can commit to due to lifestyle, family

obligations and personal interests. Identify sponsorship and event opportunities that are of

interest to your team that fit with your business plan and your culture. Analyse advantages

and disadvantages, where and when they occur, costs and benefits, competitor activity and

gaps. Include some events you can host at your own premises (or at a client or partner's

premises as a joint event) as these are often the most powerful ways to welcome new people

into your community.

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VI. Case study

Sportsworld is one of the UK’s leading providers of corporate hospitality for both sporting and

cultural events.It has successfully delivered international corporate hospitality and sponsor

programmes for some of the biggest events in the UK & other parts of the world, from sporting

events like the FIFA World Cup, Olympic Games,Wimbledon Championships, Rugby

World,British Grand Prix, Six Day London, PGA Championships,Royal Ascot to cultural events

like Hampton Court Palace Festival, Hampton Court Flower Show.Sportsworld regularly works in

partnership with organisers and governing bodies, to activate rights and fulfil events while

harnessing the unique power of sports and entertainment to meet clients’ demands.

Here is a specific case study of SportsWorld’s implementation of BMW LONDON OLYMPIC

GAMES corporate hospitality program in 2012:BMW was the 24th sponsor of the London

Olympic Games 2012.Sportsworld worked with BMW to coordinate activations around the

Olympic and Paralympic Games for the purpose of engaging BMW's customers and employees,

improve Dealer performance, boost brand image and enhance corporate reputation.

Sportsworld designed 85 hospitality program waves (3 nights, 2 nights, 1 night & hosted day) for

2900 guests from 45 countries.Sportsworld handled all operations including invitations and on-

line registrations; airport meet and greet services; transportation & accommodation; hosting and

event venue logistics; food and beverage; Olympic event tickets; BMW’s exclusive suite within

the Olympic Hospitality Centre, BMW Group Experiences, gifts, accreditation management for

all BMW representatives, programme extensions and ad hoc requests; post-event reporting and

guest feedback.

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With meticulous planning Sportsworld managed multiple suppliers to ensure that guests’

itineraries were balanced and allowed for daily choices from a menu of pre-planned activities and

free time.

VII. Development in the Corporate Hospitality Industry

With its still untapped potential, the hospitality market has become a hot destination for many local

and foreign investors. Whenever we thinks about the development of hospitality industry, the

primary approaches I thought it would be the development of the products/services, the grab of

chances and the confrontation with requirements and challenges

1. Develop products/service

 Exploring customer’s goals and barriers: A big part of what the product development team

does is to try to precisely match what they can create with what our customers really need

in the red-hot present. The first exercise is to consider customer goals. What are they trying

to accomplish that our product can directly address? What are the barriers that keep them

from getting to where they need to go as a business? Getting a sense of these needs was

more than enough for us to plan for the right functionality as intelligently as we could. The

team know that our products have to meet these needs and throw in a few extras for good

measure. This is a competitive industry, after all.

 Empathy as a starting point: An obvious and key starting point for the product development

team was fully understanding our customers' goal to increase daily order volumes. Another

issue to address was slow-moving lines that undercuts that goal. Yet another was

ballooning labor costs and our customers' need to maximize resources around those costs.

Finally, a big priority for our customers is improving consumer experience by giving guests

more control as they interact with menus, and with the brand in general. 

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  Technology products must serve real needs: This brings us back to the beginning. Product

development that achieves any level of success is always about serving real people with

real needs, being sensitive to the goals of users, and always considering the quality of

experiences of the people those users serve. Whether B2B or B2C, always

thinking practically, and building what real people care about into the planning stages is

always the name of the game. That's how our customers win, too. 

2. Grab a chance to enter and explore more opportunities in this high-growth market

Take Vietnam for instance:

Foreign hotel investors across the region have shown significant interest in Việt Nam over the

past three years making the country one of the hottest markets for hotel investment in the Asia

Pacific along with Australia and Japan.

There are so many hotels, entertaining malls built in such big and medium cities in Vietnam.

For example, hotel Nikko Saigon, Grand Hotel Saigon, Vincom Center - Royal City in Hanoi,

etc… attract so many tourists as well as businessman.

This is attributed to the huge investment commitments made by both State and private

stakeholders in infrastructure and transport linkages, visa exemption, introduction of new

direct air routes, and improved marketing efforts.

In other words, every companies try their best to penetrate into the corporate hospitality

industry to make more profits and stay stronger in such a competitive market.

3. Face essential requirements and challenges

 Competition: With an influx of new players in the hospitality-sphere, especially in the peer-to-

peer accommodation market, it is essential that hotels reinforce their competitive advantages.

Modern solutions such as Airbnb, a platform which allows travelling guests to stay with hosts

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 in their house, have proven to be very popular for the competitive price range, the flexibility

and freedom afforded by staying in a home and for the opportunity for cultural exchange. But

with Airbnb, they can’t offer real amenities, sophisticated level of service, trust and safety.

 Customer Expectation: With increasingly demanding and rigorous customers expecting more

and more from hotels, it is crucial that companies focus on providing a fantastic customer

service, on providing positive reactions to customer’s feedback and on rewarding regular

customers.

How is this possible?The simple answer is to improve the efficiency of the team who are

critical for protecting brand reputation and to instill loyalty in guests. Their work can be made

a lot smarter and simpler.

 Staff Retention and Recruitment: Some of the services required in the hotel industry are highly

personalised which means it is necessary to devote more time to guests and to optimise

operations within every team. This will allow for a higher rate of staff retention, as they will

enjoy a more organized work schedule.

Given the expensive and time consuming nature of finding the ideal candidate for positions,

small changes to the quality of the work schedule will have a big impact on staff wanting to

stay.

VIII. Conclusion

Corporate hospitality takes many forms, and can be done in many different ways. The key behind

it all, however, is to demonstrate that you’re putting the effort in to show off the best side of your

company and raise your profile on a competitive market. When your company successfully

manage corporate hospitality, you do smooth the path to success.

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