Coral Divers Resort Case Study Essay
Coral Divers Resort (Coral) is acting since 10 years on the niche industry of a rapidly growing sport scuba diving in the island of New Providence in the Bahamas. The company belongs to Jonathan Greywell family's who found this niche by creating short weekend and midweek diving ventures, a service that intrigued the public, both single and families. Coral Divers Resort has targeted the aficionado diver, and the tyro, both of which want maximum diving pleasure for minimum expense, having the advantage of accomodation at a beachfront location.
Due to the economic crises and to the changes of people behaviours the resort starting to be confronted with loss in financial performance, but even when …show more content…
The threat can be that family diving vacations can be easily replaced with any seaside locations, even more cheaper than in this area based on low-cost flight which are nit allowed for this area. Adventure seeking tourists have other options in other locations so this can be an opportunity for Coral to offer.
From future revenues they should increase the marketing budget investing more in advertising and promotion, as mouth-to-mouth advertising takes time.
Before suggesting an alternative, we have to consider Greywell's current cash position as shown in the Case Study's balance sheet. The financial ratio of the company forecast hard times for the business and it requires immediatly action by establishing simple, consistent and long term goals.
As for the single scuba-divers it's much likly to prefer more excitment locations Coral should be focus on offering family packages by increasing the occupancy rate to at least 90%. They should include childrens packages by offering baby-sitting and games activities (wimming lessons, snorkeling, etc.) for