Real Estate Advisors & Property Strategy Consultants
Luxury Retail Strategy & Guest Experiences
J. Richard Hill & Co. was engaged by Strategic Hotels to develop a retail plan for its Four Seasons Punta Mita resort located on the Pacific Ocean in Mexico. Research found that 32% of the resort’s visitors traveled to the location by private jet and typically stayed seven days, at an average daily rate of $1,060 per room. The resort was very popular with wealthy families from Mexico and South America, resulting in 1.5 rooms per resort party. Non-room expenditures for spa services, dining, and recreational activities were equal to expenditures for hotel rooms. Further research on vacation expenditures as a percent of household income projected annual incomes for the average Punta Mita visitor to be well above $1,000,000 a year, and most likely above $2,000,000. The research concluded that resort guests would spend at a prolific level given the opportunity to find unique products not found in major department stores and luxury retailers.
J. Richard Hill & Co. crafted a plan to create seven resort-owned luxury shops within the property. Rick created the conceptual merchandising strategy for each shop, hired Gensler Architects to complete the store design, and assembled a team of merchandisers and buyers. The seven shops are successfully operating today, generating sales in excess of $1,000 a square foot.
