...Iowa State University Digital Repository @ Iowa State University Graduate Theses and Dissertations Graduate College 2014 A review of studies on luxury hotels over the past two decades Yin Chu Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/etd Part of the Advertising and Promotion Management Commons, Business Administration, Management, and Operations Commons, Home Economics Commons, Management Sciences and Quantitative Methods Commons, and the Marketing Commons Recommended Citation Chu, Yin, "A review of studies on luxury hotels over the past two decades" (2014). Graduate Theses and Dissertations. Paper 13913. This Thesis is brought to you for free and open access by the Graduate College at Digital Repository @ Iowa State University. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Digital Repository @ Iowa State University. For more information, please contact hinefuku@iastate.edu. A review of studies on luxury hotels over the past two decades by Yin Chu A thesis submitted to the graduate faculty in partial fulfillment of the requirements for the degree of MASTER OF SCIENCE Major: Hospitality Management Program of Study Committee: Liang (Rebecca) Tang, Major Professor Tianshu Zheng Fatma Baytar Iowa State University Ames, Iowa 2014 Copyright © Yin Chu, 2014. All rights reserved. ii TABLE OF CONTENTS Page LIST OF TABLES ....
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...need to include the background of the company four star hotel, located in the downtown area of Montreal, winner of awards recognizing its four star location, amenities and services large hotel with 824 rooms, a number of restaurants, health facilities, convention rooms and boutiques, specialty shops cash flow for the last fiscal year was negative by over $2 Million the hotel has a $50 Million long-term mortgage which requires payment of interest calculated at a floating interest rates other cash outflows include $4.2 Million in annual municipal taxes currently running at below capacity competition for the Sheraton includes a total of 10 hotels located in the downtown area - include the problems of the case Alitalia is requesting a one year contract for 40 hotel rooms for one year @ $42 per night in addition, a 25,000 per day crew allowance is required to be on hand; these moneys will be repaid within seven days of receipt of statement on a weekly basis check out times and check in times will require extra staff to handle the Alitalia contract in addition, the contract will require more laundry and linen, utilities and amenities - recommendations Introduction - need to include some background of the company - what will the report cover quantitative analysis of the incremental revenue, incremental costs including opportunity costs to the hotel qualitative analysis of the Alitalia contract other factors to consider...
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...BCG Matrix Model BCG Matrix Model The BCG matrix or also called BCG model relates to marketing. The BCG model is a well-known portfolio management tool used in product life cycle theory. BCG matrix is often used to prioritize which products within company product mix get more funding and attention. The BCG matrix model is a portfolio planning model developed by Bruce Henderson of the Boston Consulting Group in the early 1970's. The BCG model is based on classification of products (and implicitly also company business units) into four categories based on combinations of market growth and market share relative to the largest competitor. When should I use the BCG matrix model? Each product has its product life cycle, and each stage in product's life-cycle represents a different profile of risk and return. In general, a company should maintain a balanced portfolio of products. Having a balanced product portfolio includes both high-growth products as well as low-growth products. A high-growth product is for example a new one that we are trying to get to some market. It takes some effort and resources to market it, to build distribution channels, and to build sales infrastructure, but it is a product that is expected to bring the gold in the future. An example of this product would be an iPod. A low-growth product is for example an established product known by the market. Characteristics of this product do not change much, customers know what they are getting, and the price...
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...LOCKHEED TRI STAR CASE STUDY 10/18/2010 Group #8 Case Write-Up Lockheed Tri Star Case Study EXECUTIVE SUMMARY Although highly regarded by the military, Lockheed sought to move into the lucrative civilian commercial aviation sector and compete with Boeing, McDonnell Douglas and Airbus. Lockheed began design and testing in 1966 on their entry, the “Tri Star”, which boasted a range of over 6,000 miles with nearly 400 passengers and speeds of close to 600 mph. They had already invested nearly $900 million in development costs. Carried by state of the art Rolls Royce turbofan engines, the L-1011 was by all accounts, a technological winner and might be the company’s ticket back to solvency. The summer of 1971 found the once formidable company on the brink of disaster. Despite the nearly a $1 billion in sunk costs, Lockheed was in need of $250 million more to bring the plane to market, but its bankers would not commit without federal loan guarantees. Spokespersons for Lockheed claimed before Congress that the Tri-Star program was economically sound and that their problem was mere liquidity crisis. However, opposition to the guarantee focused on estimated break-even sales – the number of jets that would need to be sold for total revenue to cover all accumulated costs. This case illustrates the importance of NPV analysis in capital budgeting. We examined the decision to invest in the Tri-Star project by forecasting the cash flow associated with the project...
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...Strategic Management Section A: Objective Type (30 marks) •This section consists of multiple choice questions & Short notes type questions. •Answer all the questions. •Part one questions carry 1 mark each & Part two questions carry 5 marks each. Part One: Multiple choices: 1. A plan of action designed to achieve a particular goal is: b. Strategy 2. It is important to develop mission statement for: a. Allocating organizational resources 3. The five forces model was developed by: c. Michael E. Porter 4. How many elements are involve in developing in an organizational strategy: a. Six 5. The three important steps in SWOT analysis are: b. Opportunities, Threats, Strengths 6. GE matrix consists of how many cells? a. Nine cells 7. Which of these is the type of Games: d. All of the above 8. SBU stands for c. Strategic Business Unit 9. The BCG matrix is known as: a. Growth share matrix 10. ______________ specifies sales revenues and selling distribution and marketing costs. b. Sales budget ________________________________________ Section A: Part Two: 1. What are the dimensions of Strategic management? Answer: Strategic management process involves the entire range of decisions. Typically, strategic issues have six identifiable dimensions: 1. Top management involvement: Strategic management relates to several areas of a firm’s operations. So, it requires top management’s involvement. Generally, only the...
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...2013 Lockheed TriStar Case Study Group 6 Leon Krolikowski Sitaram Koppaka Brian Manning Tushar Mahajan Ryan Maggiorini Nicholas Manning UNIVERSITY OF MASSACHUSSETS SUMMER 2013 SCH MGMT 640 PROFESSOR RAJ GUPTA Table of Contents Executive Summary 2 Introduction/Motivation 3 Data Analysis and Results 4 Conclusion 8 Appendix 9 References 10 Executive Summary Lockheed’s L-1011 Tri Star Airbus program was a long-term, capital-intensive endeavor projected to strongly position Lockheed to compete in the commercial aircraft market. The initial preproduction investments for the program were made in 1967, with continued investments occurring during the subsequent four years, until the program commenced production in 1972. However, during the intervening period, initial program assumptions began to unravel, and Lockheed, which was also a major contractor to the United States Department of Defense, was before Congress, requesting a $250 million bank loan guarantee to complete the L-1011 program. By 1971, over 80% of Lockheed’s market capitalization had already been lost. During the ensuing debate that followed, it appeared that Lockheed had not taken due diligence in the planning for the project, and that initial unit sales and revenue estimates would fall woefully short of being what Lockheed’s CEO termed as a “commercially viable endeavor”. As the continued difficulties of the program unfolded before the public and the investment community, it...
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...782822 Word Count: 518 Abstract The purpose of this assignment is to work together in a group, organising self and others to produce work to agreed deadlines, the group will aim to engage in debate about strategy from a theoretical and practical standpoint, while Undertaking analysis of a case and generate a critical evaluation. Each member of the group will produce a formal report critically analysing one chosen identified corporate strategy, the report will evaluate and summarise the chosen model reflecting their individual analysis to corporate strategy. The group will then put reports together to make a single portfolio of the different corporate portfolio framework analyses. Along side the written report the group will also work together to produce a presentation which will focus on one chosen corporate strategic model analysed in the report, in this case the group decided to focus on Porters five forces. The group will apply critically apply this framework and critically apply this to a business of the groups choice (in this case Samsung) during the presentation. Corporate strategy 1 Boston Consulting Group Matrix The Boston consulting group matrix (BCG Matrix) is a four cell matrix developed by the Boston Consulting Group in the early 1970’s to manage and asses a business portfolio of products and their potential, “The matrix helps in development of plans which reflects the need of each business unit as well as business as a whole” (Brahma and Chakraborty...
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...782822 Word Count: 518 Abstract The purpose of this assignment is to work together in a group, organising self and others to produce work to agreed deadlines, the group will aim to engage in debate about strategy from a theoretical and practical standpoint, while Undertaking analysis of a case and generate a critical evaluation. Each member of the group will produce a formal report critically analysing one chosen identified corporate strategy, the report will evaluate and summarise the chosen model reflecting their individual analysis to corporate strategy. The group will then put reports together to make a single portfolio of the different corporate portfolio framework analyses. Along side the written report the group will also work together to produce a presentation which will focus on one chosen corporate strategic model analysed in the report, in this case the group decided to focus on Porters five forces. The group will apply critically apply this framework and critically apply this to a business of the groups choice (in this case Samsung) during the presentation. Corporate strategy 1 Boston Consulting Group Matrix The Boston consulting group matrix (BCG Matrix) is a four cell matrix developed by the Boston Consulting Group in the early 1970’s to manage and asses a business portfolio of products and their potential, “The matrix helps in development of plans which reflects the need of each business unit as well as business as a whole” (Brahma and Chakraborty...
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...Mahmoud Abdallah Alrabei Research scholar, Dept of Accounting, J.N.V.U E-mail: alialrabei@yahoo.com Received: February 23, 2012 doi:10.5296/ajfa.v4i1.1435 Accepted: March 25, 2012 Published: June 1, 2012 URL: http://dx.doi.org/10.5296/ajfa.v4i1.1435 Abstract The study aims to identify the reality of accounting information systems in four and five-star hotels in terms of planning, controlling and decision making. The descriptive analytical method has been used through data collection by means of a questionnaire distributed to various hotel accountants. After the statistical analysis of the questionnaire, appeared several key findings most important of which are that hotels in Jodhpur didn't use the methods of accounting information system in planning, control and decision making processes. The study finding respectively that all grouped items have a mean of (1.77, and 0.00), (1.85 and 0.00), (1.98 and 0.00) level of significance (p-value), which means that these hypothesizes is rejected. Because there is no relationship between accounting information system and planning, controlling, and decision-making in four and five star Jodhpur Hotels. The study recommends increase the rehabilitation of the cadres and develop the information system at Jodhpur hotels towards the efficient application of accounting information system methods. Keywords: Accounting information system, Planning, Controlling, Decision Making, hotels. 173 www.macrothink.org/ajfa Asian Journal...
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...assignments Please complete all of the following details and then make this sheet the first page of each file of your assignment – do not send it as a separate document. Your assignments must be submitted as either Word documents, text documents with .rtf extension or as .pdf documents. If you wish to submit in any other file format please discuss this with your lecturer well before the assignment submission date. |Student Name: |Samara James | |Student ID No.: |22078393 | |Unit Name: |Tourism and Hospitality Research and Analysis | |Unit Code: |MNG00415 | |Tutor’s name: |Martin Young | |Assignment No.: |2 | |Assignment Title: |Research Proposal and Literature Review | |Due date: |April 11th 2014 | |Date submitted: |April 10th 2014...
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...Nelson College London | Course title | Unit number and title | BTEC HND in BUSINESS | Unit 7 : Business Strategy | Student name Student ID | Assessor name | | | Date issued | Completion date | Submitted on | 12th May, 2014 | | | | | Assignment title | Business Strategy | Assignment Brief Study of business strategy is vital for managers. Different strategic & audit tools help the managers to make appropriate strategic decisions for their respective businesses. Here, in this assignment, different strategic & audit tools along with various analysis methods have been covered. Theoretical framework of aspects of business strategy has been developed with appropriate examples in order to achieve all the assessment criteria. Task 1: Understanding the Process of Strategic Planning 1.1. Explaining Strategic Contexts & Terminology Organizations come to businesses with certain targets. They want to see themselves in certain expected positions in a certain period in future. They have certain goals & reasons behind their existence in the market & they identify definite means to accomplish them. These things can be expressed using different terminology - Mission: Companies have definite mission statements. The mission statement clarifies the purpose of the company for which it has entered into the market. In a nutshell, mission justifies the firm’s existence. (OREGAN, N and Ghobadian, A, 2002) According...
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...THE JOURNAL OF FINANCE • VOL. LVII, NO. 5 • OCTOBER 2002 Information Production and Capital Allocation: Decentralized versus Hierarchical Firms JEREMY C. STEIN* ABSTRACT This paper asks how well different organizational structures perform in terms of generating information about investment projects and allocating capital to these projects. A decentralized approach—with small, single-manager firms—is most likely to be attractive when information about projects is “soft” and cannot be credibly transmitted. In contrast, large hierarchies perform better when information can be costlessly “hardened” and passed along inside the firm. The model can be used to think about the consequences of consolidation in the banking industry, particularly the documented tendency for mergers to lead to declines in small-business lending. IN THIS PAPER, I TAKE UP the following question: How does organization design inf luence the process by which capital is allocated to competing investment projects? I contrast two basic organizational forms. The first is “decentralization,” in which small, single-manager firms choose between relatively few projects. The second is “hierarchy,” in which large firms with multiple layers of management evaluate many projects. The goal is to understand what projectlevel characteristics lead either decentralization or hierarchy to be the preferred design. This question can be given a concrete motivation. Over the last several years, there has been enormous consolidation...
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...Management Control Richard G. Sicari and Fredrik J. Söderlund Per-Magnus Andersson Hospitality Industry, Management Control Systems, Performance Measurement, Contingency Approach, Multiple Case Study The purpose of the thesis is to describe and analyze the use of management control systems in the hospitality industry. Purpose: Methodology: The study is mainly a descriptive, multiple case study based on deductive reasoning. However, explanatory elements occur. The nature of the study is to a large extent qualitative and is primarily based on interviews and analysis of current management control tools. The analytical strategy includes pattern matching, explanation building and cross-case synthesis. Theoretical Perspectives: The main text editions included are Anthony and Govindarajan (2003 & 2007), Lindvall (2001), Merchant and Van der Stede (2007) and Samuelsson (2004). Furthermore, the use of management control systems in the hospitality industry is examined using literature such as Harris (1995), as well as other articles. Empirical Foundation: There are four units of analysis included in this study: (1) BrewPub København; (2) Färs & Frosta Sparbank Arena; (3) Kulturmejeriet and; (4) Scandic Hotels. This organization is divided into three subunits; Scandic Kramer, Scandic Malmö City and Scandic Star Lund. Each organization is described in terms of background, situational factors, strategy & management philosophy, organizational...
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...routinely exaggerate the attractiveness of foreign markets, and that can lead to expensive mistakes. Here’s a more rational approach to evaluating global opportunities. Distance Still Matters The Hard Reality of Global Expansion by Pankaj Ghemawat • Included with this full-text Harvard Business Review article: 1 Article Summary The Idea in Brief—the core idea The Idea in Practice—putting the idea to work 2 Distance Still Matters: The Hard Reality of Global Expansion 12 Further Reading A list of related materials, with annotations to guide further exploration of the article’s ideas and applications Reprint R0108K TOOL KIT Distance Still Matters The Hard Reality of Global Expansion The Idea in Brief Why did U.S. media giant Star TV lose $500 million trying to deliver TV programming to Asia? Like many companies, it was so dazzled by the foreign market’s immensity that it ignored the difficulties of pioneering new territories. For example, it assumed—wrongly—that Asian viewers wanted English-language programming. How to avoid this fate—and select the right targets for your firm’s global expansion? Look beyond a country’s sales potential (as expressed by national wealth or propensity to consume)—and analyze the probable impact of distance. But don’t focus only on distance’s geographical dimension. Consider three other dimensions as well: cultural factors (religion, race, social norms, language); administrative factors (colony-colonizer links, currencies, trading arrangements);...
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...Portfolio Analysis: The Market Position Juanita Williams American Intercontinental University August 30, 2015 Dr. Christopher Miller Portfolio Analysis: The Market Position The decision making process among hospitals are very complex, therefore, it has become more prevalent to use a portfolio analysis in there strategic planning process. The portfolio analysis will help any organization address some of the obstacles they face such as the appropriateness and measurement of growth (McCain, 1987). It is an important aspect of evaluating when the organization has the idea to start a new project or not. In he portfolio analysis the services and products are being analyzed in relation to the market growth and the market share (AIU, 2015). It is best to know who your biggest competitors are and also know who holds the biggest share of the market. Once this is known then these should be compared to all other competitors and see what the market growth is. Health care organizations will use the portfolio analysis not only to look in to their services and products provided, but into all of the organization’s department. We will take a look at how the Sisters of Charity Hospital can use a portfolio analysis within their market for growth. The hospital is located in Columbia, South Carolina as well as Cleveland and Canton, Ohio. This organization provides many different services such as service for the elderly, blood conservatories...
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