Eiffel Tower Development Strategy 2017-2024
As part of their renewal of the public delegation contract with the City of Paris, Horwath HTL, in partnership with EY, was entrusted by the Eiffel Tower Operation Company to create a development strategy to be deployed during 2017-2024.
Scope of Work
The scope of work required was extensive, partly financial and partly organizational. Our brief included redesigning the management of visitors flows to the attraction, on its own a massive undertaking.
We were also asked to establish a new pricing strategy and look for ways to diversify existing sources of revenue, primarily through the development of partnerships with luxury brands. Also, we would develop the Eiffel Tower investment Plan for the next eight years, including a visitor welcome centre (a 127 million euro investment).
Based on a diagnostic of the cultural and commercial product, visitor flows, profit and expenses centres, partnerships, image and products, Horwath HTL defined a new marketing and branding position for the development of the site. Financial projections for the planned investment and marketing strategy were made in order to evaluate the potentialities of a mid-term development.
Horwath HTL’s focus has been on developing a more accurate and ambitious branding and marketing position, mainly based on partnerships with world-class events as well as luxury fashion and gastronomy brands. The sales strategy was reviewed to improve visitor reception and manage flows during peak periods.
The Eiffel Tower Operation Company and the Paris Municipality approved the recommended strategy and investment plans. The investment programme is expected to be completed by 2024, for the hosting of Paris 2014 Summer Olympic Games.