Shangri-La and Ferrari Team Up In High-Octane Partnership

Ferrari and Shangri-La have announced their first ever partnership at the Ferrari Racing Days in Shanghai last week. (Ferrari) As some 33,000 people in Shanghai cheered on Ferraris racing at the Ferrari Challenge Asia Pacific and the 2014 Ferrari Racing Days this weekend, Hong Kong-based luxury hotel chain Shangri-La had its own reason to cheer. The Italian automaker is entering a partnership with Shangri-La to bring a personalized experience for travelers attending the Asian and European race series. Ferrari announced in a press release that not only will Shangri-La be the official hotel partner, it is also sponsoring the Ferrari Challenge. This first-time collaboration will allow Shangri-La’s VIP global guests exclusive paddock access, a garage tour, and tickets to the Formula One World Championship, among other perks, Shangri-La said in a separate press release. In exchange, Shangri-La’s logo will feature prominently on the cars, the official website, and podiums. Ferrari’s fans will also receive preferential treatment at Shangri-La’s branches. The release also mentioned that Ferrari will hold charity drives in cities where Shangri-La hotels are located in the future. "We're delighted about the alliance with Ferrari, an exciting brand with a great product," said Greg Dogan, Shangri-La's president and chief executive officer in the press release. "Through our global collaboration, we will be able to reward both companies' loyal supporters with one-of-a-kind experiences and indulge their passion for the best and bespoke." According to Scuderia Ferrari Team Principal Marco Mattiacci, Shangri-La has “a lot in common with Ferrari, to begin with, attention to details, which can make the difference on the track as well as in providing a superior service to the customer." Ferrari has been eyeing the Chinese market since 2013 as its European sales flatline. However, despite a slight growth decline in China that year, Ferrari remains optimistic about its China prospects, and even predicts a slight growth in sales this year. Industry expert Damon Banks, director of DMB Public Relations, told marketing news site Luxury Daily that the partnership with Shangri-La is mutually beneficial—Ferrari gets to tap into the hotel chain’s customer base for its racing events, and Shangri-La gets a high-profile advertising platform. “Though many guests of the hotel might not be avid race fans, having ‘inside access’ to an element of the Ferrari brand can be very intriguing and a positive effect of the relationship,” Banks said.

Sectors

Insights

Company

Shangri-La and Ferrari Team Up In High-Octane Partnership