Acct 640 Final Case Study - MEMORANDUM TO The Board of Directors FROM DATE SUBJECT SWOT Analysis of Caesars Palace and Strategic Initiatives

Acct 640 Final Case Study - MEMORANDUM TO The Board of...

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MEMORANDUM TO: The Board of Directors FROM: DATE: October 19, 2017 SUBJECT: - SWOT Analysis of Caesar’s Palace and Strategic Initiatives Strength of Caesar’s Palace The hotel is doing well with an assumed average occupancy rate of 91.2% for 2016 Located in one of the top tourist cities in the world There are barriers to entry for new competitors to open a casino or hotel in Las Vegas High demand for events such as bachelor parties, bachelorette parties, and weddings Weakness Cash flows from investing have been losses in two of the past 3 years It will take about 3 and a half years to payback the costs of the renovations Opportunities Industry and economy both are growing. Take advantage of social media and other online opportunities Threats Legal/Governmental restrictions Competition from hotel industry Strategic initiatives the company should focus on in the future. 1. Services and Innovation – Competition from other hotels will always be high in Las Vegas so it is important to always be looking for new ways to attract customers. 2. Social Media and Online customer reviews, and new opportunities – Find new and innovative ways to market to and reach new and existing customers. It will be important to focus on customer satisfaction in order to receive positive customer receives online as they extremely important in the entertainment industry. It was also be important to market these positive reviews. Develop a strategy to take advantage of potential changes in the online gambling laws. I will be glad to discuss these topic further in our next meeting Thanks for your corporation,

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