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Fairmont Hotels & Resorts Inc. operates various hotels, resorts, and city centers in North America. Its amenities include meetings and events rooms, spas, golf and ski, food, wedding, wine, president's clubs, vacation residences, and stores. The company was formerly known as Fairmont Hotels and changed its name to Fairmont Hotels & Resorts Inc. in October 1999. Fairmont Hotels & Resorts Inc. was founded in 1907 and is headquartered in Toronto, Canada. The company has operations in Canada, Mexico, the Caribbean, Bermuda, the United States, Asia, Europe, the Middle East, and Africa. Fairmont Hotels & Resorts Inc. is a former subsidiary of Canadian Pacific Limited.
Why we chose this company?
Our decision was informed by relevance of the service nature to our course. It is also imperative to note that the hotels conduct massive amount of research that defines their operational associations and operations. The research could be confined to the external area like customer feedback on hotel service satisfaction measured against the clientele expectations. The invaluable experience gained during the time of work at The Fairmont Algonquin St Andrews provides a base for easily understanding the hotel industry. The dictates of the research conducted either by the staff are confined to either a quantitative or qualitative approach. This requires us to develop a research design that not only suits our target area, but also incorporates impartiality and projects the right results by avoiding personalized input which ultimately doctors findings. The Fairmont hotels and resort use business research method in a bid to ensure informed and well founded execution of its business endeavours. Therefore, it is the ideal model to use to establish the execution of research method.
Event planning and management are vital income and profit segments of the hotels. The events range from weddings, conferences and, other kind of celebrations like family unions, graduation parties and others. The large margins of profits are generated from large conferences; with hundreds of participants, eating and sleeping in the hotels and even their laundry being done by the hotel. To oversee the progress of events management, the essence of quantitative and qualitative research cannot be underscored. Quantitative and qualitative research methods are used in creative surveys, question deign and also in the filed to direct meetings and interviews with customers.
The effectiveness and accuracy of quantitative analysis is dependent on the efficiency of the data collection and data analysis. The appreciation of the different types of data needed for analysis informs the primary decisions on the research design. The data varies from interval (quantifiable), ordinal variables, nominal variables to dichotomous variables. In addition, the data needs to be perfectly coded and entered into the computer for analysis before being presented. Data can be presented through charts, tables and, descriptive statistics which involves the presentation of the findings in prose. For effectiveness, the appropriate statistical tools for the relevant research variables ought to be applied.
Inquest into the business dealings of Fairmont Hotels and Resorts should adopt a manner that will ensure that the data obtained is nominal and in certain cases dichotomous. This gives the respondents choices and the accuracy can thus be restricted to maximum and the allowance for errors due to harmonized response drastically reduced. After the research, the data whether univariate or bivariate can be analysed through Excel or Statistical Packages for Social Scientists (SPSS). The data will rely on the intelligence of the researcher to ensure it is effectively presented. Univariate refers to data reflecting on one variable and focusing on trends over time, and the proportional balance. Bivariate refers to data exploring the relationship between variable and in our case it can revolve on the income generated from the conferences and events hosted by the hotel versus the contribution from holidaying persons.
Though the quantitative means perfectly achieves the targets of the researcher, the exquisite image can only be brought out if it is integrated with the qualitative research. The qualitative research focuses on the effectiveness of the management and other aspects that define the score organization. Extrapolating the difficulty for a person to adjudge themselves, the input of consulting firms, who objectively indulge in the research is always welcome as they bring a non-partisan and unbiased perceptions which are vital for successful research.