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Wynn Resorts Essay

682 words - 3 pages

Case Study 1 Wynn Resorts LTD.

Sean Brockert

Palm Beach State College
History
1967 complete renovation of Golden Nugget.
1989 complete renovation of Mirage.
1993 complete renovation of Treasure Island.
1998 complete renovation of Bellagio
Mirage becomes part of MGM ($6.4 million)
April 2005 Wynn Las Vegas resorts open.
September 2006 doors open Wynn Macau.
December 2007 2nd phase complete Wynn Macau.
2009 expected completion of encore Las Vegas.
Internal Strengths and Weakness
Strengths
Brand Name recognition (Wynn 30 years experience in Vegas).
Management team highly experienced and very successful in tourism.
U.S. population living longer (retirees are more incline ...view middle of the document...

2. The strategic development of its product allows Wynn to sell to a target market.
C. Substitute products
1. The amount of competitors in the industry decreases the ability to raise prices and make a profit.
* IV. Swot analysis
A. (Strength) Wynn’s name in the industry allows for lines of credit and brand recognition, (Threat) If Wynn were to ever leave, step down or die the company would be unable to secure the same lines of credit.
B. (Strength) Management team is highly experienced and successful in tourism. (Threat) Much like the reliance on Wynn, if the management team was to leave the ability to maintain would decrease.
C. (Strength) The U.S. population living longer. (Opportunity) With a aging society the number of customers that use the products of Wynn will continue to grow.
D. (Strength) Strategic development of its product.(Opportunity) With the high incomes of the target market cross marketing to other area such as travel and vacations which is appealing to the high end customers.
E. (Strength) Continuous promotion of brand is part of company strategy. (Threat) If the brand name is to become diminished the company itself would have no way of sustaining...

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