Most presidents stay at the Arizona Biltmore Resort and Spa in Phoenix when they're in town, but President Obama opted instead to stay at the InterContinental Montelucia Resort and Spa in Paradise Valley--a hotel that is facing foreclosure.
According to the Arizona Republic, between President Obama and his entourage, the entire hotel was sold out--including its two presidential suites.
Implications - When a famous cultural icon publicly shows support for a product or a company, it is bound to dramatically increase its ultimate success. Any company struggling to stay afloat or reinvent its image need only look at examples like this to see how one high-profile endorsement can drastically alter the course of their fortunes.
Why This Trend Is Growing
- Celebrity Endorsement
- Struggling businesses can boost their success by securing high-profile endorsements like the one received by the InterContinental Montelucia Resort and Spa.
- Rebranding
- Publicly reinventing a company's image can help struggling businesses turn their fortunes around, as exemplified by President Obama's choice to stay at a hotel facing foreclosure.
- Corporate Responsibility
- Supporting struggling businesses as a show of corporate responsibility is a trend that can positively impact a company's image and success, as demonstrated by President Obama's decision to stay at the InterContinental Montelucia Resort and Spa.
Industries Being Reshaped
- Hospitality
- The hospitality industry can capitalize on the trend of securing celebrity endorsements to boost the success and reputation of struggling hotels and resorts.
- Marketing
- Marketing professionals can explore opportunities to help struggling businesses reinvent their image and engage in impactful celebrity endorsements to achieve significant turnarounds.
- Corporate Social Responsibility
- The trend of corporate responsibility presents opportunities for businesses to support struggling companies and enhance their own brand reputation, as seen in the hospitality industry with President Obama's stay at the InterContinental Montelucia Resort and Spa.
