Strategic Management JHT2 Task 2
Lyndon House, Lexington Kentucky
Tammy Friedel - WGU
February 22, 2016
A. Kentucky’s lodging industry evaluation
Before the Europeans settled in central Kentucky, the region was home to grazing herds of buffalo. The Iroquois Indians called the area the “meadow land” which became the origin of the state's name "Kentucky."
In the 19th century central Kentucky's meadow lands reminded some immigrants of their home in the British Isles - so many settled here and brought their love of horses with them. Soon thoroughbred breeding, trading and racing became a primary enterprise in the Lexington area. In the first Kentucky Legislative Assembly a bill was introduced by Daniel Boone for "improving the breed of horses" and eventually Lexington gained the reputation of being the “Horse Capital of the World.”
While there are many places to choose from to stay in the Lexington area, one particular place that is popular among tourists is a bed and breakfast called the Lyndon House. The Lyndon House Bed & Breakfast is located on North Broadway in Lexington's historic downtown where it has proudly stood since 1883. It was originally built on the outskirts of north Lexington but now it is within five blocks of the vibrant downtown community - with fine restaurants, shops, and a thriving nightlife.
A1. Economic Features
The most dominant economic feature of a bed and breakfast, often referred to as a B&B, is the product characteristics provided by the inn. The unique touches that distinguish a B&B are clearly a primary reason for selecting this lodging option. Words like "charm," ambience," "quaintness," and "atmosphere" were often used by customers to describe this intangible appeal. The importance of the "getaway" aspect demonstrates that B&B's have been well positioned to take advantage of shorter, more frequent weekend trips preferred by many two-income families. The vast majority of visitors to a B & B are pleasure travelers....