Abstract This paper relates that, in recent years, the concept of a "budgethotel" in the U.K. has changed so that today many of these less-expensive hotels are virtually indistinguishable from many of their more upscale and expensive counterparts. The author points out that the research focuses on major areas of hotel management including (a) overall performance, (b) employee performance, (c) customer satisfaction, (d) financial performance and (e) what innovative measures are being used to increase performance measure. The paper concludes that the Premier and Express by Holiday Inn were identified as the two front runners in the U.K. budgethotel industry and that these chains reached this performance level with careful attention to trends in the marketplace and the needs and wants of their guests. The paper includes several figures and tables, quotations, a complete questionnaire and the reporting of survey data.
Table of Contents:
Introduction
Statement of the Problem
Purpose of Study
Research Questions
Importance of Study
Overview of Study
Review of Related Literature
Background and Overview
Overview of Hotel Industry Categories of Service
Limited-service mid-scale hotels BudgetHotels Recent Trends in the BudgetHotel Industry
Overview of BudgetHotels in the UK Today
Performance Measures
Methodology
Description of the Study Approach
Data-gathering Method and Database of Study
Documentation Collection
Survey
Sampling
Reliability and Validity
Rationale in Support of Methodology
Data Analysis
Case Studies: Premier Travel Inn UK and Express by Holiday Inn UK
Premier Travel Inn
Stock Performance for Whitbread: March 2006 to Date
Key Financial Metrics for Whitbread: 2001-2005
Whitbread Net Operating Revenues versus Net Profit: 2001-2005
Whitbread Earnings Per Share: 2001-2005
Whitbread Earnings Per Share: 2001-2005
Express by Holiday Inn
Amenities and benefits featured by Express by Holiday Inn in the UK
Financial Metrics Reported by Express by Holiday Inn in the UK
Intercontinental Hotels Group plc (IHG)
Other Performance Metrics Reported by Express by Holiday Inn in the UK
Representative Google Search Engine Results for "Hotel," "London"
Survey of Express and Premier Hotel Management:
Summary and Conclusions
Summary
Conclusions
From the Paper "Middle upscale hotels are also able to lower rates during times of adverse economic environments. Many of these hotels have found it to their mutual advantage to engage in strategic partnerships with organizations such as the American Association of Retired Persons and the Automobile Association of America by offering discounts during off-season periods or during adverse economic periods. All-suite middle upscale hotels include AmeriSuites (Howard Johnson), Embassy, Guest Quarters, Hawthorne, Homewood, Lexington, and Residence Inn by Marriott."
Abstract This paper discusses the commonalities and differences between the budgets of individual, for-profit, non-profit and public-sector entities. This paper explains how the budget process is similar and different between all of these entities. Budgeting is a critical element in financial planning, explains the author--whether the budget applies to an individual, a company or public entity, the budgeting process, its application and execution forecast the expected future.
From the Paper "One of the most essential ingredients for a manager to effectively run an organization is the ability to develop and implement a good budget. The main objective of a budget is to establish a method of allocating limited resources in order to achieve the best return on their dollars. Furthermore a budget also outlines the various sources of revenue and the anticipated amount of money that will be derived from each source. Individuals, governments, non-profit organizations and profit making businesses commonly use this financial planning process. Each of these entity's budgets have many similarities and differences."
Abstract This paper discusses how few industries are as rabidly competitive as the hotel industry. With this in mind, the following paper offers a business proposal for a 30 acre hotel to be constructed in St. Kitts of the West Indies. Beyond its role as a resting place for weary travelers the hotel will also serve as a hospitality and tourism college for those interested in making their way in this sector.
Abstract This paper is a case study of the Augustin Hotel in Bergen, Norway that looks at the opportunities it has to succeed as an independent hotel in competition with chain hotels. The paper relates that the Augustin Hotel is the oldest family-run hotel in Bergen and discusses its origin, background and location. The paper continues with a description of the features and amenities of the establishment as well as a discussion of its successful advertising and marketing strategy.
Outline;
Overview of Hotel Augustin
Restaurants of Hotel Augustin
Accommodations (Room Types and Styles)
Health & Safety Provisions of Hotel Augustin
Overview of Destination: Bergen Norway
Independent Case Studies Review
Destination Web Strategy in Hospitality - Leveraging the Destination
Enterprise Content Management and Digital Media
Methodology
Findings
Conclusion
From the Paper "Bergen is a university city with a major business and commerce college along with other various colleges in the city. Bergen is an international town that has the charm and atmosphere of a small town. The city's population is approximately 235,000 and is referred to as appearing "like a spectacular amphitheatre clambering up the mountainsides, overlooking the sea, embracing you." (www.bergen.kommune.no) Bergen is also stated to be: "...one of Norway's most vigorous cultural cities." Founded in 1070 by King Olav Kyrre, Bergen has become a commercial and shipping town significant to the European industry. Bergen was at one time the: "...largest of all town in the Nordic countries." (www.bergen.kommune.no) The Wharf in Bergen was rebuilt after the fire in 1702. The harbor front in Bergen, called Bryggen, "was a scene of thriving activity for 'the Hansas' until the 18th century. Bergen is a university city with a major business and commerce college along with other various colleges in the city. One of the attractions of Norway are the fjords with the longest and deepest being the Sognefjord. The countryside in Norway is stated to be of a breathtaking nature. Bergen is host to many music festivals and events throughout the year. One such event is the Bergen International Festival founded in 1953 and 'focused on presenting prominent international and Norwegian artists in the fields of music, ballet, opera, theater, dance and the performing arts."
This paper examines the case study of the Accor Group of Hotels in Indonesia, in which the company decided to market and develop a chain of standardized hotels similar to the Holiday Inn chain in the US.
Abstract This paper details how Paul Dubrule and Gerard Pelission, innovative entrepreneurs, along with the Indonesian Accor Group of Hotels came to launch a chain of 3 star hotels, popularly known as "Novotels," which afforded guests a convenient location, reasonable price and service, while expanding their business abroad. The paper examines hotel business practices in different parts of world and details the many factors involved launching and marketing new hotels including choosing locations and staffing these establishments while increasing tourism and profits wherever these hotels may reside.
From the Paper "With 2200 Hotels around the globe & 265000 rooms worldwide, Accor had standardized its hospitality structure. The number of rooms and the category of rated hotels in the Accor group are given per Exhibit 8 of the case study. The Management always ensured while establishing a Hotel that it was done at a good location, like out of town or near International Airports or International Highways where the land was procured cheaply and in abundance. This enabled the hotel to have plenty of open space, free car parks, playgrounds, swimming pools and so on.
It also ensured that the hotel could maintain it's international image with standardized customer services throughout its network."
Abstract This paper notes that the hospitality industry, which includes travel, businesses, hotels, restaurants, and theme parks among other businesses, operates on a relatively small margin in most cases and can be adversely affected by economic changes and by customer dissatisfaction that then translates into bad word of mouth. Businesses like hotels and restaurants thus have to set and meet quality standards that contribute to customer satisfaction and also must provide customer service. At the same time, such businesses have to try to keep down labor costs in order to stay within the small profit margin they usually face. This paper discusses some of these issues by examining the way that the Four Seasons Hotel chain has managed costs and quality in recent years. The Four Seasons Hotel Chain is a Canadian-based company that began with one hotel in Toronto.
Abstract This report establishes a scenario for the development of a career goal in the area of hotel general management through the development of an industry analysis and an education career path outline. Special consideration is given to the goals of the individual who is seeking employment in the hospitality industry as a hotel General manger (with the long term goal of ownership). The paper includes one table.
Table of Contents:
Executive Summary
Career
Goal/Problem
Scope
Industry Background
Methodology
Findings
Recommendations
Conclusions
Back Matter
References
From the Paper "There has been a recent increase in the number of hospitality management training programs and these programs are demonstrative of internal as well as external changes to the industry and the education system. The industry is seeking to educate many people in-house and is much more willing to demonstrate belief in individuals by allowing them to seek outside educational goals, while still employed, through incentive as well as the development of systems that are inclusive of study and class time allotments. (Lucas, 2003, p. 88) this new emphasis has created a strong sense of the need for education, at top levels, while maintaining the work/school ideals of company specific training, goals and extremely high standards of service. Due to the recent upturn in the understanding for the need of education the goal of an individual must include a partnership between hospitality education and work experience."
Abstract A paper on the topic of hotel restaurants and tourism. The focus is on sales and public relations in hotel and motel improvement. Often the simple courtesies of workers bring the greatest public relations.
Abstract This paper first looks at the limitations of franchising the Embassy Suites Hotels corporation. Then, the paper shows a long list of items on the corporation's Uniform Franchise Offering Circular, or UFOC and explains and details as to what exactly they might mean for the prospective franchisee and hotel owner. Finally, a conclusion is made, based upon the proposed relationship and financial benefits and liabilities, including the sources that have been studied.
From the Paper "This paper will discuss and dissect the issue of the limitations of the Embassy Suites Hotels corporation's franchise program and its Uniform Franchise Offering Circular (UFOC). This document is one that is offered up to potential owners and purchasers of franchises at least ten days before said purchase. The purpose of this circular is to best educate and inform potential franchisees of this, or any, hotel corporation just what limitations there are within said corporation and what liabilities these limitations might pose for franchisees and their franchises. The second section will discuss the various items that a franchisor is required to divulge in the UFOC and these items will be studied on the current UFOC from Embassy Suites Hotels. The first set of items to be listed on the Embassy Suites UFOC are those numbered 1 through 4."
Abstract This paper answers a series of questions in several modules concerned with the marketing of a new hotel in Centerville that needs to identify its target market. The paper discusses how the target market in this case is a multiple market, most clearly divided according to time of year, though the hotel would do well to target vacationers and tourists year round. This being a college town, visitors in the winter are different from visitors in the summer. In addition, the town has a major change in weather between winter and summer.
From the Paper "The hotel in Centerville needs to identify its target market. The target market in this case is a multiple market, most clearly divided according to time of year, though the hotel would do well to target vacationers and tourists year round. This being a college town, visitors in the winter are different from visitors in the summer. In addition, the town has a major change in weather between winter and summer. For the summer period, the hotel should target those people who would avail themselves of the hunting, sailing, and fishing that is offered in the area because of the proximity to a large lake. For the winter, the hotel should target people interested in snow activities such as snowmobiling, cross-country skiing, and skating. In the fall in particular, many of the visitors to the town are parents seeing to it that their children are fitting into campus life."
Abstract The paper describes the target market for the Royal York Hotel; it is the upscale business traveler or the well-heeled vacationer who desires a luxurious environment. Because such a financially stable background is typically not obtained by the under 25 age group the Hotel's overall target market is the professional between the ages of 25 and 65. For the specific advertisement, the marketing department is targeting the business traveler between 35 and 45.
From the Paper "Segmentation Strategy: Royal York Hotel has a broad market appeal although it is constrained to certain income levels. Royal York intends to segment this broader market by developing an advertisement campaign that targets a particular segment within the broader market."
Abstract A SWOT analysis that examines the potential internal strengths and weaknesses as well as the potential environmental opportunities and threats to Canadian Pacific Hotels and Resorts (CPHR). The analysis concludes that CPHR has an essentially sound strategy that should operations into Europe in order to tap into unrealized operational income and to absorb potential reduction in North American income.
Abstract This paper provides a general overview of some of the more salient aspects of Donald Trump's Trump Hotels and Casinos. The description of the corporation includes a list of the corporate executives, a brief history and context of the corporation. A description of casinos currently operating under this corporation, and marketing strategies for the Taj Mahal casino is also included. The analysis portion of this study highlights the financial successes and failures of the corporation. The final evaluation of the corporation is based on a synthesis of all information previously discussed. Prospects for the future of the corporation are examined.
Executive Summary
Corporate Executives
Brief History and Context
Casino Description
Casino Marketing: The Taj Mahal
Financial Analysis
Evaluation and Prospects for the Future
From the Paper "By 2004, the corporation's stocks had fallen 82% to $2.38 a share. At the time, this was little more than the cost of one ride of the New York City subway. And this abysmal performance had nothing to do with the casino industry. During the same period, rival MGM saw its shares rise by 223%. In 2004, Trump Hotels and Casinos was once more in Chapter 11 proceedings while it tried to figure a way out from underneath $1.8 billion in debt through corporate restructuring. In short, the history of Trump Hotels and Casinos has been one significant financial loss after another, falling stock prices, and increasing debt burdens."
Abstract This paper, using Pennsylvania as a model, demonstrates the differences between state budgeting policies and federal budgeting policies. It shows how the budgeting techniques in the federal government have some major differences, when compared to those in the Pennsylvania State government; these differences include a lack of a separate capital budget, different budget cycles and timelines, and budgetary policy differences.
From the Paper "The federal government uses only one budget to lay out its financial obligations, whereas Pennsylvania uses two separate budgets. The single operating budget used by the federal government is required to outline federal expenditures from purchases to service contracts. Pennsylvania, however, has one budget that outlines services, entitlements and education expenses, and a different budget to make new purchases on capital improvements. The former is called the General Fund, and the latter is the Capital budget. Pennsylvania uses two budgets because the General Fund is used for purchases and contracts that will take place within that fiscal year, and the Capital budget is used to forecast capital purchases in the next five years. In this manner, Pennsylvania can keep better track of its assets and have a tighter grip on where its money is spent. The biggest advantage to having a separate budget for capital improvements is it allows the possibility of change. When funding is appropriated on the federal level, the department gets its money all at once and builds whatever it needs. For a state, though, a program may be feasible at the time of its announcement, but may have to be restricted due to extenuating circumstances (i.e. September 11th and the economic downfall.) "
Abstract Supporting the activities and operations of churches and religious organizations is a complicated and serious financial challenge. The activities of these organizations, combined with their limited financial resources, result in a need for careful attention to financial management. Further, as a result of occasional media reports of financial irregularities in some religious organizations, there is an increasing call for financial accountability in almost all organizations today. This paper shows that diocese members want to know, and have a right to know, how and where church funds are spent. Beyond accountability and financial reporting, there is a need for assistance in all aspects of financial management. The diocese, therefore, provides a unique environment in which to contextualize the study of accounting and budgeting. The paper shows that many dioceses are supported by professional accountants and bookkeepers, some as paid employees, others as volunteers. Because the number of clergy is decreasing, financial management functions are being spread thin, and there is less control; therefore, there will likely be increasing pressure from parishes for improved budgeting functions. The base of this research project is extended to all Roman Catholic Church dioceses in the United Kingdom, but concentrates on the budgeting process as it exists within a representative sampling of these religious organizations. Finally, this research project identifies who is involved in the budgeting process and whether structures interfere with budgetary process. An examination of how budgeting is done is followed by an assessment of its contribution in terms of population.
Table of Contents
Abstract
Review of the Relevant Literature
Methodology
Conclusion
From the Paper "The first major component of internal accounting systems for management's use is the company's system for establishing budgetary plans and setting performance standards. The establishment of these performance standards also requires a company to develop a system for measuring actual results and reporting the differences between actual performance and the established standards. This budgeting process leads to the establishment of specific organizational plans which are then translated into action with varying degrees of efficiency. Statistical analysis, quality controls, and trended data are typically provided to management for assessment and determination of need for corrective action, or by preparing revised plans. While these plans can be either broad, strategic outlines of the company's future or specific and detailed schedules of the inputs and outputs associated with specific independent programs, most business plans are periodic plans; in other words, these plans refer to company operations for a specified period of time. It is these periodic plans which are summarized in a series of projected financial statements, or budgets (Shillinglaw 2004)."
