Various multinational and Fortune 500 companies specializing in manufacturing, technology, and design
Since 2017, Parallax has been retained by several multinationals that all faced similar challenges: they had an interest in innovating to create new sales channels and product lines in hospitality, including the guest room, bath, common spaces, and new technologies. Each company desired to introduce new wellness- or design-related products or services to consumers through hotels, or to directly sell supplies or commercial products to hotel owners and operators. However, without expertise in the hotel space or an understanding of the purchase path and required value proposition to hotel industry stakeholders, they were not able to develop a clear business plan or gain traction.
What we did
- Audited ideas developed internally, provided feedback on feasibility for launch into hospitality, and made recommendations for alternatives and modifications
- Developed detailed business plans, timelines, paths to entry, and multi-year revenue projections for launch of new product and service lines
- Identified and conducted research with hotel industry stakeholders (owners, operators, and guests) to gain additional feedback and direction for refinement
- Identified partners and supportive products or services to seek synergies and package offers
- Identified participants for pilots and supported the launch and execution of pilots
- Developed full B2B and B2C marketing plans, including launch strategies
- Developed roadmaps including timelines and milestones for how products should come to market in the hotel space and be marketed/sold to brands, hotel owners, procurement companies, and other critical stakeholders
Completed business plans were progressed from the innovation and strategy teams we worked with and made their way to general managers, business unit leaders, and C-suite executives ultimately responsible for go/no-go decisions. Based on the business cases created, as well as the strategies, budgets, and timelines developed, the companies were able to make prioritization decisions on piloting and entering the hotel space (or tabling their initiatives for future years).