Free Essay

Occupancy Management at Seven Seas

In: Business and Management

Submitted By marcota
Words 3145
Pages 13
Seven Seas Cruise Vacations Inc.
Occupancy Management1
Pamela Homesworth, Director of Operations – Yield Management for Seven Seas Vacations looked across her desk and let out a sigh. She looked exhausted and not a little bit frustrated as she removed her glasses and started to speak.
“It’s Tuesday, the worst management day of my week” she said. “Today is the day I have to decide what to do with our remaining occupancy for a week Saturday to ensure we sail with a full complement of passengers. When I first came into this business, you made your profit from the last twenty percent of travelers, now you try not to lose your shirt to keep the ship at capacity for each sailing. I blame the internet!” Seven Seas Cruise Vacations
Pamela Homesworth, then a 31 year old businesswoman, had joined Seven Seas Cruise Lines Inc. directly from an MBA focused on electronic marketing and operations. She began work six years earlier as the internet came to be a strategic force for consumer businesses, starting in 1998. Pamela worked her way into increasingly important roles with the firm and with the start of the fall cruise season had taken over an experiment that Seven Seas was testing on integrated vacation planning and direct sales under the selling brand Seven Seas Cruise Vacation.
Using one of their midsize ships, Seven Seas was sailing a dedicated week long circuit from Miami through the western Caribbean and back along the coast of Mexico while testing several new ideas for managing passenger occupancy and also in transporting passengers to the Miami cruise terminal. Seven
Seas was targeting this marketing experiment at customers whose homes were located within the North
East United States and Central and Eastern Canada. Seven Seas was targeting this offering to families in the 25 – 50 year old demographic looking for a 1 week holiday in the winter season that was sold more like a resort vacation rather than a traditional cruise.
Pamela and her associates had conceived of the idea for Seven Seas Cruise Vacation after studying the resorts of Mexico, the Caribbean and southern Europe and they felt they have a novel offering to attract a new class of vacationing families, couples and singles to their line. To preserve the positioning and pricing of their main offering, Seven Seas had elected to create a new brand to test market under, and thus the Seven Seas Cruise Vacations was born.
1

This case has been prepared to provide material for class discussion; it is not intended to illustrate effective or ineffective handling of a managerial situation. Names and events may have been alte red to protect confidentiality or to aid in illustration.
Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 1

Pamela had developed what she felt were several strategic differentiators that would support the Seven
Seas Cruise Vacations business plan:







Through a business associate, Pamela was able to negotiate a fixed fee deal with a major air carrier to transport passengers from any of her target markets to the cruise terminal in the port of Miami for a per person cost of $450 for adults and $250 per child;
Pamela had studied marketing in her MBA and was a strong believer in the internet as a marketing channel, though cautious of the pricing erosion that often took place through electronic marketing. Testing the internet as the sole marketing and booking channel was the primary focus of Pamela’s present assignment;
Pamela brought a sound accounting background as well as an analytical mindset to her daily operations; and
The last few winters had been particularly cold throughout her target market and this had allowed Seven Seas to raise prices throughout their fleet and build up a cash reserve that they felt could sustain them through a period of slower occupancy as a result of experimenting with different inventory management techniques.

The Seven Seas Mermaid
The Seven Seas Mermaid was a midsize ship in the Seven Seas fleet. Originally commissioned for the fall
1992 season, while not state of the art compared to other ships in the fleet, the Mermaid was comparable to competitor’s ships in terms of amenities, maximum occupancy and passenger services.
The Seven Seas Mermaid had undergone a refit and maintenance cycle prior to returning to service for the past summer season, working the Alaskan cruise itinerary and allowing Pamela to refine her vacation program offering. One of the big changes made in refit was the rationalization of unit types across the ship. While many vessels were designed to maximize the number of passenger cabins, through the creation of various layouts and sizes to accommodate the geometry of the ship, with the
Mermaid Seven Seas elected to move common services to the more difficult to use spaces and to create standard size and layout cabins that were identical across the ship. A smaller selection of cabin types was thought to simplify booking by reducing inputs to the buying decision. As a result the ship now had
5 types of cabins throughout, all viewed as comparable within a class. The remainder of the ships public spaces were used to house the restaurants and bars, the spa and other entertainment facilities.
Pamela knew from her analysis that the type of clientele each of her suites and villas attracted would spend different amounts of money on the premium services her ship offered. Premium services were where the revenue was made now in the cruise industry. The basic fare covered core operating costs, though recent price competition meant that even that was being challenged. Premium services included alcohol, spa services and meals in the specialty restaurants. Pamela knew from experience and analysis that premium services generated considerable supplemental income and the bulk of the profitability for Seven Seas. To be successful as an operator Seven Seas had to understand its fixed and variable costs – fixed costs were incurred whether the cabin was occupied or not, while variable costs were incurred only when the cabin was occupied.
Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 2

The big innovation that Pamela was testing this season was the use of standard pricing for vacation packages, attempting to test the theory that customers and prospects would respond positively to a cruise offering that was sold more like a traditional resort stay rather than how cruises had historically been sold. Pamela structured vacation packages such that each type of unit had a cost for a week long cruise, leaving the port of Miami on Saturday afternoon and returning to the port early the following
Saturday morning, and this cost was the same no matter how many people were staying in the unit (up to the maximum occupancy of the unit). Unit pricing was new to the cruise industry, having traditionally sold passage on a per passenger basis and charging penalties when a booking didn’t have sufficient passengers to meet an occupancy threshold. When appropriate there was also discounting for passengers in the same suite above a threshold. Pamela reasoned that families were more inclined to make unaided buying decisions based on a week’s occupancy rather than per person with various formula to understand total cost. Pamela further reasoned that including in her cabin rate air fare for two adults and two children, such that the price quoted was the price of the vacation unless extra services were consumed by the family, would simplify the evaluation of a cruise vacation against other choices and raise the prospect of a sale to her target market.
The specifics of Pamela’s pricing, inventory and anticipated supplemental revenue are detailed in Table
1 - The Seven Seas Mermaid Capacity, Unit Pricing and Premium Service.

Unit
Type
1A
1B
2A
2B
2C

Description
Upper deck villa
Mid decks villa
Mid decks suite
Lower decks suite
Interior suite – all decks

Quantity
28
84
84
84
126

Average
Rate
Alcohol
(weekly) profit / Unit
$6,000
$250
$5,500
$225
$4,500
$225
$4,000
$175
$3,000
$150

Average
Premium
Average Spa Meal profit / profit / Unit Unit
$400
$200
$300
$200
$175
$150
$0
$150
$0
$50

Table 1 - The Seven Seas Mermaid Capacity, Unit Pricing and Premium Service Sales (average)

The fixed costs / cabin, was a standard $1,000 regardless of type. Variable costs, which included cruise staff, housekeeping, consumables such as soap and towels, food and other costs are detailed in Table 2 Variable Costs by Unit Type.
Unit Type
1A
1B
2A
2B
2C

Variable Costs / Occupied Unit
$600
$500
$400
$400
$250
Table 2 - Variable Costs by Unit Type

Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 3

Reservation System & Enterprise Resource Planning (ERP)
Seven Seas Vacations had a fairly simple reservation system with two methods of inputting weekly reservations. The reservation system interfaced to the main Seven Seas Cruise Lines Inc. enterprise resource planning (ERP) system and the vacation business used the main services of the ERP system including ticketing, customer relationship management (CRM) and financials.
Agents, who worked in a call center answering phones from customers and travel agents, could access the reservation system through computer screens. They could look up available suites and villas for a given week and see a grid of filled and empty cabins by floor and type. If a customer was interested in booking they could select an available cabin and input the appropriate information for the customer.
Pamela had invested in development of a web site that allowed customers to browse vacation packages and purchase from the site. The web site engine accessed the same screens as the call center agents, and to the reservation system it looked like a web reservation was created by a call center agent.
Each night a program ran on the reservation system to identify new reservation and book the appropriate airfares with the airline.
The reservation system had limited reporting options and a single data extract routine that wrote out a comma separated file for a given week, showing the status of reservations and vacancies for that week.
The file format for this export is documented in Table 3 - Reservation System Export File Layout.
Line 1
Line 2 – 407

Data of voyage details cabin reservation details

Table 3 - Reservation System Export File Layout

The first line was the sailing date of the particular voyage that was represented in this weekly extract, while the remainder of the file had one line for each of the cabins (suits or villas) within the Seven Seas
Mermaid with the values for each cabin documented as defined in Table 4 - Reservation System Extract,
Cabin Line Details.

Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 4

Attribute
Cabin Type
Cabin Number

Details
One of 1A, 1B, 2A, 2B or 2C
All cabins are sequentially numbered starting at 1
(first cabin in the 1A class) and going through to
406 (last cabin in the 2C class)
Y or N, for Yes or No
A number from 0 – 4, with 0 if the cabin isn’t reserved. If there are 4 adults at present Seven
Seas only allows 2 additional children in the cabin
A number from 0 – 4, with 0 if the cabin isn’t reserved or there are no children. At present
Seven Seas can’t accommodate more than 4 children in a suite or villa
A number from 0 – 5, with 0 if the cabin isn’t reserved, representing the source of the reservation. 1 = call center, 2 = web site, 3 = wholesaler (see below), 4 = package (see below), 5
= discounted web (see below)

Reserved
Number of Adults

Number of Children

Source

Table 4 - Reservation System Extract, Cabin Line Details

Selling Excess Capacity
Pamela would often extract the data from her reservation system and ponder what she should do about occupancy for future weeks. One of her Tuesday task’s, that made this her least enjoyable week day, was that she had to plan, and if appropriate notify, third parties that could sell units for her through alternative channels to ensure the voyage was at or near capacity. While her call center and website generated the bulk of her sales, there were times she needed extra help to sell a given voyage, and she needed to release content a minimum of 10 days from departure Saturday to these alternative channels so they could sell on her behalf.
There were three main channels Pamela sold excess capacity through, and they had different costs and probability of success associated with each channel.

Travel Wholesaler’s
The most predictable channel for selling capacity was what was called a “wholesaler”. Pamela could approach a wholesaler with a set of cabins, of any type, and they would buy the available cabins at a steep discount and sell them (or not) at whatever price they could. Seven Seas received a fixed price per cabin, didn’t have to arrange airfare for the guests and were paid if a guest occupied the cabin or not.
In analyzing vacation packages traditionally sold through wholesalers, Seven Seas had found that 75% of what was purchased by the wholesalers resulted in families in the cabins on average and that guests who booked through the wholesaler purchased fewer supplemental services. The wholesale contribution values are showing in Table 5 - Wholesale Passenger Premium Service Sales (average).

Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 5

Unit
Type
1A
1B
2A
2B
2C

Average
Wholesale Alcohol
Rate
profit / Unit
$2,000
$155
$1,800
$125
$1,400
$125
$1,400
$75
$1,000
$75

Average
Premium
Average Spa Meal profit / profit / Unit Unit
$200
$175
$125
$125
$75
$125
$0
$80
$0
$65

Table 5 - Wholesale Passenger Premium Service Sales (average)

Specialty Tour Operators
Seven Seas had experimented with specialty tour operators in the past, those operators who assembled a package to market to a particular clientele and who sold from specialized mailing and member lists.
What Seven Seas found most appealing about this type of sale was the premium attached to the package. By selling a specialized program, say “gourmet food and fine wine”, Seven Seas could charge a higher rate, attract a group, sell a number of cabins and because the groups tended to be premium clientele they spent more than the average guest in some of the supplemental services Seven Seas offered. The speciality tour operator expected to have access to a fixed number of cabins, only the premium cabins (1A, 1B and 2A) and they charged Seven Seas a flat fee of $28,000 to set up and market the event and a commission of $1,500 per cabin sold. Seven Seas’ was responsible for booking airfare for the guests and the contract called for the provisioning of 12 cabins of each type (1A, 1B and 2A). On average Seven Seas had found the tour operator sold 80% of the cabins, with the remaining cabins going unoccupied. Speciality tour operators required a minimum of 8 weeks of selling time before a voyage, and on average Seven Seas had found that 12 weeks lead time had the best probability of selling out.
The specific average premium service contribution can be found in Table 6 - Speciality Tour Passenger
Premium Service Sales (average).

Unit
Type
1A
1B
2A
2B
2C

Premium
Tour
Rate
$6,500
$6,000
$5,000
N/A
N/A

Average
Alcohol
profit / Unit
$450
$325
$275

Average
Premium
Average Spa Meal profit / profit / Unit Unit
$400
$250
$300
$250
$250
$200

Table 6 - Speciality Tour Passenger Premium Service Sales (average)

Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 6

Discount Web Agents
The final channel that Seven Seas had sold excess capacity through was discounted web agents, who sold cabins through various travel sites and services. These web sites tended to attract couples without children, who were looking for an inexpensive vacation booked at the last minute.
To help manage some of the variables in the cost of her packages, Pamela had established three rules for dealing with discount web agents:




First she would never discount a premium unit, only selling 2C units through this channel;
Second she would opened it to couples or singles only, no children; and
Third she wouldn’t provide airfare to bookings through this channel – getting to the cruise terminal in the port of Miami was the responsibility of the buyer.

She paid the discount web agent a 10% commission on the base rate of each cabin sold and found that they could sell on average 38 cabins at a discounted rate. What she had found was that discount buyers consumed premium services above the average of her equivalent buyers. The specifics of the contribution from discounted fares can be found in Table 7 - Discount Web Agent Passenger Premium
Service Sales (average).

Unit
Type
1A
1B
2A
2B
2C

Premium
Discount
Rate
N/A
N/A
N/A
N/A
$1,425

Average
Alcohol
profit / Unit

Average
Premium
Average Spa Meal profit / profit / Unit Unit

$250

$105

$135

Table 7 - Discount Web Agent Passenger Premium Service Sales (average)

ERP Management Reporting
“There are three things that I wish I had to make my decisions easier.” Pamela said while returning her freshly cleaned glasses to their rightful spot.
“First, I’d like to have a summary report that shows what the composition of the future weeks bookings are. How are sales by unit type and where those reservations came from. I’d also like to be able to compare any number of weeks sales and occupancy / vacancy to understand comparable ratios. If I had that I could at least understand what the big picture is, rather than having to work that out from the reservation system report.”
“I’d also like a management decision tool that would show me three scenarios, based on the available options I have to sell inventory for a given week. What would my revenue be for each scenario and, based on cost, what is my forecast profitability.”

Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 7

“Finally what I would really like is modifications to our ERP solution that could take the available capacity I have to work with for any given period and have the system solve for me the best solution that maximizes my profitability - what we could do with the available cabins. While a computer won’t know all the variables that a given week might have, the combination of the reports I’ve described and an analysis model would sure help me feel more confident about the decisions I make on any give
Tuesday.”
“If I had these operating management tools I would feel these decisions were less gambling and more business. Can you help me with something like that?”

Seven Seas Cruise Vacations – Occupancy Management – © 2012 M. Sparling, All Rights Reserved

Page 8

Similar Documents

Premium Essay

Tourism in the Caribbean

...keep that alive, efficient and effective business management within the hospitality industry have helped to make tourism one of the largest revenue generating sectors in the Caribbean. Tourism is the business or industry of providing information, accommodation, transportation and other services to tourists. The Caribbean is a multicultural area of the globe of more than seven thousand islands, set in the pristine waters of the Caribbean sea with a backdrop of lush green vegetation and breathtaking sunsets, making it the world’s biggest cruise ship destination (Mather). Businesses within the industry along with the government have an obligation to put forth the best tourist package that not only invites tourists but also seals their ultimate return to the Caribbean. The way to do so is by the efficient and effective management of those businesses comprising of warm hospitality and service of the best quality to leave a wonderful lasting impression upon the visitor. There are many different businesses within the tourism industry such as hotels, guesthouses, tour guide operations, restaurants and bars, souvenir stores and much more. Hotels are the biggest businesses within the tourism industry, as this is one of the most important aspects of a visitor’s trip and they spend a lot of money to ensure a comfortable stay. Accommodation quality is vital to tourist experience, as evidence shows the accommodation sector saw a hotel occupancy rate of 67.1% in 2013, where the average room rate...

Words: 1258 - Pages: 6

Free Essay

Cruise Report

...Foreword HTT310 is designed to give students with broad aspects of Travel Agency Management. Students will be given knowledge and basic understanding on how agencies being established, organized and the various components that must be considered in the management of a travel agency. Mayflower Acme Tours Sdn. Bhd. (9199-T) (KPL 0596) Menara Mayflower, No 1, Jalan Metro Pudu 1, Fraser Business Park, Off Jalan Yew, 55100 Kuala Lumpur. Tel: +603-9232 1999 Fax: +603-9232 1998 Eden Tours & Travel Sdn. Bhd. (Co. No. 183304-M) KKKP No. 1655 1st Floor, No.290, Jalan Pudu, 55100 Kuala Lumpur. Tel: +603-2148 3880 (General & Tour) Tel: +603-2145 9880 (Ticketing) Tel: +603-2148 7880 (Agency Sales) Fax: +603-2148 7454 Email: sales@edenvacation.com Email: corporateenquiry@edenvacation.cm Complain Email: complain@edenvacation.com Suggestion Email: suggestion@edenvacation.com Table of Content Introduction to Star Cruise……………………………………………………………………….……3 SuperStar Libra…………………………………………………………………………….........3 Additional Information………………………………………………………….……….9 Introduction to Costa Cruise……………………………………………………………….…….....10 Costa Victoria…………………………………………………………………………………..10 Additional Information………………………………………………………………...18 Cruise Packing……………………………………………………………………………………..….19 Nautical Terms…………………………………………………………………..…………………….21 Conclusion……………………………………………………………..………………………………23 References…………………………………………………..…………………………………………24 Appendix……………………………………………………………...

Words: 3627 - Pages: 15

Premium Essay

Indian Hotel Industry

...... 7 In The Focus......................................................................................................................................... 8 City Trends........................................................................................................................................... 12 Indian Hospitality – In Sync with Nature....................................................................................... 19 1. 2. 3. 4. Indian Hotel Industry – by Star Category............................................................................................... 22 Indian Hotel Industry – Inventory and Chain Affiliation................................................................... 31 Indian Hotel Industry – Seven Major Cities.......................................................................................... 39 Indian Hotel Industry – Twelve Other Cities......................................................................................... 50 Hotel Analysis...

Words: 38410 - Pages: 154

Premium Essay

China National Petroleum Corporation

...CHINA NATIONAL PETROLEUM CORPORATION HISTORY China National Petroleum Corporation (CNPC) is based on the national reform program, in July 1998 in the former China National Petroleum Corporation, established on the basis of the large petroleum and petrochemical enterprise group, is a state-authorized investment institutions and state holding company, is the implementation of upstream and downstream, domestic and foreign trade, production and marketing integration, according to the modern enterprise system and the operation of trans-regional, cross-sectoral, cross-border operations, integrated oil companies. As China's largest crude oil, natural gas producer, suppliers and the largest oil refining producer and suppliers, China National Petroleum Group is involved in oil, gas exploration and development, refining chemicals, pipeline transportation, oil and gas refinery product sales, petroleum engineering technical services, petroleum machinery manufacturing, oil trade and other fields, in China's oil and gas production, processing and market-dominant position in the U.S. "oil Intelligence Weekly" top 50 ranking of the world's oil companies, China National Petroleum Group, ranked No. 10 , in the "Fortune" magazine published in 2004, ranking the world's top 500 enterprises, from the previous year's first 69 upgraded to 52 bits, ranking ahead of 17. China National Petroleum Group registered a total capital of 114.9 billion Yuan, the existing total assets of 736.2 billion Yuan in...

Words: 2433 - Pages: 10

Free Essay

Iloilo City as a Tourist Destination

...ILOILO CITY as a Tourist Destination I. Executive Summary Iloilo City which is also one of the major urban centers in the Philippines, is a fast-growing modern city but has kept its old charm and unspoiled environment. Iloilo’s rich heritage is showcased in many festivals celebrated in the city and various towns of the province. Dubbed as the “Province of Festivals”, Iloilo is proud of its nationally acclaimed Dinagyang Festival. Iloilo City is indeed a repository of ancient and historical heritage. Every visitor can not miss-out the iconic imagery on the structures found in the city impose on the viewers’ perception. The mixture of its colonial past and western influence is a unique feature of Iloilo City’s line-up of cultural and artistic treasures. The glorious and colorful history of Iloilo City is more vividly preserved in the monuments of heritage that continue to amaze visitors who come to the city. Written historical records may only possess the informal on of the past but they can never take the place of living heritage as undying testimonies of a people, their struggles, aspirations dreams and their cultural uniqueness. This is the living testimony of Iloilo City’s ancient and historical heritage. Today, it is a popular convention and meeting destination, with its many first class accommodations and an airport of international standards. Iloilo also serves as the gateway to the region and a favorite stopover for tourists heading to the beaches of Boracay...

Words: 9332 - Pages: 38

Premium Essay

Disneyland Facts

...Legislative Council Secretariat FS30/08-09 FACT SHEET Financial arrangements relating to Tokyo Disneyland, Disneyland Paris and Hong Kong Disneyland 1. Background 1.1 At the special meeting held on 4 July 2009, the Panel on Economic Development discussed the financial arrangements relating to the proposed expansion of Hong Kong Disneyland. During the discussion, a member requested the Research and Library Services Division to provide information on the financial arrangements relating to Tokyo Disneyland, Disneyland Paris and Hong Kong Disneyland. As such, the purpose of this fact sheet is to provide the Panel with information on these three theme parks in terms of their ownership and the financial arrangements for the construction project. 1.2 This fact sheet originally intended to study the operational statistics of the three theme parks. According to the Tourism Commission of Hong Kong1, both the Government and the Walt Disney Company (Walt Disney) are bound by the confidentiality provision under the current agreement not to disclose any commercially sensitive information of Hong Kong Disneyland, including the gain or loss from the operation of the theme park. Against this, this fact sheet only lists the key operational statistics of Tokyo Disneyland and Disneyland Paris for comparison. 1 See Tourism Commission (2009). page 1 Research and Library Services Division Legislative Council Secretariat FS30/08-09 2. Tokyo Disneyland Overview 2.1...

Words: 3904 - Pages: 16

Premium Essay

Carnival Cruise Lines

...With the 2004 winter holiday season in full swing, the management team at Carnival Cruise Lines had much to celebrate. More than 3 million passengers would sail with Carnival this year, an all-time high (Exhibit 1 presents passenger numbers for Carnival and the industry). Before year’s end, Carnival was set to launch the 110,000-ton, 2,974-passenger Carnival Valor, the 20th ship in the fleet (Exhibit 2). When the Carnival Liberty joined the fleet in early 2005, Carnival’s cruise capacity would lead the industry (Exhibit 3 presents cruise capacity by brand). The fortunes of Carnival Corporation and PLC, the parent company of Carnival Cruise Lines, reflected the strength of its most visible brand. Carnival Corporation was having the best year in its history, due in part to a rebound in ticket prices following recent industrywide discounting. The company authorized a $1 billion stock buy- back in the fourth quarter of 2004 and a 20% quarterly dividend increase to $0.15 per share. It would easily beat Wall Street earnings forecasts, despite a still-sluggish North American economy, higher fuel prices, the war in Iraq, and a devastating hurricane season that had disrupted operations in the company’s main Caribbean cruising waters (see Exhibit 4 for Carnival Corporation and PLC financials). Indeed, there was much fun taking place at the Miami-based headquarters of the “Fun Ships.” Nevertheless, a seasoned team of senior managers (Exhibit 5), many of whom had been with the company since...

Words: 8658 - Pages: 35

Free Essay

Northeast India Marketing Strategies

...2013 Thapar University [Marketing Management Project Report On] Marketing Strategies for Northeast India Tourism Submitted To : Dr. Girish Jaswal (Marketing Management Professor) Submitted By : Amit Gill (501204003) Gaurav Bisht (501204009) Savpreet Ramana (501204040) Shivam Kohli (501204042) Sumit Vyas (501204047) CERTIFICATE TO WHOM SO EVER IT MAY CONCERN This is to certify that the project report Marketing Strategies for Northeast India Tourism submitted by Amit Gill, Gaurav Bisht, Savpreet Ramana, Shivam Kohli & Sumit Vyas students of MBA 1st year bonafide work carried out by them. During their tenure at the project, they were found to be sincere and meticulous in their work. I appreciate their enthusiasm & dedication towards the work assigned to them. I am hopeful that they will prove to be a good professional and wish them grand success for the future. Date: 3 April 2013 i|Page ACKNOWLEDGEMENT The success of any research study depends upon a number of factors among which the proper guidance from the experts in the industry and a faculty plays an important role. We would like to express our heartfelt thanks to many people. This Project is an effort to contribute towards achieving the desired objectives. In doing so, we have optimized all available resources and made use of some external resources, the interplay of which, over a period of time, led to the attainment of the set goals. We take here a great opportunity to express our sincere...

Words: 5859 - Pages: 24

Premium Essay

Job Portfolio

...Signature Assignment Job Portfolio for food server position at Best Western Hotel by Ina D. HRM Abstract The presented job portfolio is for a food server position at the restaurant of Best Western San Diego. The portfolio present the staffing planning involved for the food server position. The food server position is customer service oriented and this represents an important aspect of the person/job and person/match. A job analysis presenting the duties, KSAOs, qualification and rewards is conducted. When recruiting for the food server position Best Western will conduct an open recruitment, to insure a diverse set of applicants. The company is An Equal Employment Opportunity Employer and will be aware to prevent any form of discrimination or disparate impact. Best Western will use external selection method when hiring for the position. The information about the applicants will be collected thru job applications and resumes and interviews. After hiring the most qualified quantitate the company will provide food server training and development programs. Table of Contents Abstract ……………………………………………............................. 3 Introduction………………………………………………………………… 4 Staffing plan………………………………………………………………… 5 ...

Words: 2243 - Pages: 9

Premium Essay

Banyan Tree

...HKU774 CATHY ENZ ALI FARHOOMAND BANYAN TREE: SUSTAINABILITY OF A BRAND DURING RAPID GLOBAL EXPANSION Within the next five years, if we play our expansion card right and we manage our growth properly, we have a reasonable, credible opportunity to become one of the top two or three dominant players in a global space which is very niche but nevertheless very global. - K.P. Ho, CEO of Banyan Tree Holdings Limited1 On 14 August 2006, exactly two months after its initial public offering (“IPO”), Banyan Tree Holdings Limited announced second-quarter results for the period ending on 30 June. Revenue had more than doubled to S$71.42 million, largely due to recovery following the 2004 Indian Ocean tsunami. The company felt that this was only the beginning, however, and had earmarked part of the IPO proceeds to finance an ambitious expansion plan. At the core of its business development plan was a proposal to open 21 new resorts3 over four years that would span non-Asian territories from Greece to Mexico. Banyan Tree CEO Ho Kwon Ping’s vision was to “string a necklace [of Banyan Tree properties] around the world”. The Asian Financial Crisis of 1997, the SARS crisis of 2003 and the Indian Ocean tsunami of 2004 had taken their toll on the travel and tourism industry [see Exhibit 1]. Although recovery was on the horizon, Ho understood the need to diversify risks across geographical regions and the IPO provided the finances to venture out of familiar territory. Two...

Words: 15794 - Pages: 64

Free Essay

Kum We

...filed a claim or departed on your trip. One Call Worldwide Travel Services Network One Call Travel Services Network, Inc. provides: medical, legal and travel assistance services available 24 hours a day/365 days a year. A complete list of these services is included in your Certificate/Policy. Schedule of Benefits - SRTC-2000-WA-AH Plan Benefits Maximum Benefit Amount Accidental Death & Dismemberment..............................$5,000 Emergency Sickness/Accident Medical Expense.....$100,000 . Hospital Advancement....................................................$500 Schedule of Benefits - SRTC-2000-WA-PC Plan Benefits Maximum Benefit Amount Trip Cancellation............................................. Up to Trip Cost * . Single Occupancy................................................... Included . Trip Interruption............................................... Up to Trip Cost * Baggage/Personal Effects............................................. $1,000 Per Article...................................................................... $500 Combined Maximum Benefit......................................... $500 Baggage Delay (Up to $150 Per Day)............................... $750 Trip Delay (Up to $100 Per Day)....................................... $500 Emergency Evacuation/Repatriation of Remains.... $300,000 Schedule of Services Plan Services Maximum Service Amount One Call 24-Hour Assistance Services........... No Dollar Limit . Global Xpi Medical Records Service...

Words: 14514 - Pages: 59

Premium Essay

Walt Disney 7s Model

...It was early 1991, and Michael Eisner, chairman and CEO of the Walt Disney Company, was sitting down with Frank Wells, president and chief operating officer, and Gary Wilson, executive vice president and chief financial officer, to discuss Disney's prospects for the new year. These men were still basking in the glow generated by another record revenue- and profit-breaking year in Disney's history. Disney's businesses were performing at an unprecedented level, and confidence was high. The problem facing the trio who had engineered Disney's turnaround was how to maintain Disney's explosive growth rate and its return-on-investment goal of increasing earnings per share by 20 percent over any five-year period to achieve a 20 percent annual return on equity. Paradoxically, the very success of their strategy, which had originated to protect an underperforming Disney from the rampages of corporate raiders and the threat of takeover, was causing the opposite problem: how to maintain the company's explosive growth in a business environment where attractive opportunities for expansion were becoming increasingly scarce. The men were reflecting on how to develop a five-year plan that would cement the strategy that had led to their present enviable situation and make the 1990s the "Disney Decade." This case is intended to be used as a basis for class discussion rather than as an illustration of either effective or ineffective handling of the situation. This case was...

Words: 10251 - Pages: 42

Free Essay

Biograghyy

...ROYAL CARIBBEAN CRUISES LTD. 2008 Annual Report ANCHORED IN EXCELLENCE We always provide service with a friendly greeting and a smile. * We anticipate the needs of our customers. * We make all effort to exceed our customers’ expectations. * We take ownership of any problem that is brought to our attention. * We engage in conduct that enhances our corporate reputation and employee morale. * We are committed to act in the highest ethical manner and respect the rights and dignity of others. * We are loyal to the Royal Caribbean Cruises Ltd. family of companies, and strive for continuous improvement in everything we do. * B efore 4 97 $175 98 $331 99 $384 00 $445 01 $254 02 $351 03 $281 04 $475 05 $663 06 $634 07 $603 08 $574 97 $2,019 98 $2,455 99 $3,261 00 $3,616 01 $3,757 02 $4,035 03 $4,263 04 $4,805 05 $5,554 06 $6,092 07 $6,757 08 $6,803 95 $149 94 $137 93 $107 92 $ 61 91 $ 90 $ 52 89 $ 42 88 $ 14 96 $151 SH AREHO L DERS ’ EQ UI TY ($ millions) 96 $1,085 95 $ 965 94 $ 846 93 $ 733 92 $ 464 91 $ 404 90 $ 400 89 $ 348 88 $ 295 c umulative effec t of a c hange in ac c o u n t in g p r in c ip le 08 $6,533 07 $6,149 06 $5,230 05 $4,903 04 $4,555 03 $3,784 (dollars in thousands, except per share data) 02 $3,434 Total Revenues Operating Income Net Income Earnings Per Share (diluted) Shareholders’ Equity 01 $3,145 ...

Words: 52761 - Pages: 212

Premium Essay

Business Plan

...Business Name & Location: GFC (Green Food Corner) 2/H/5 Goldreen Street Shymoli, Mohamadpur Dhaka-1207 Ph: 01736084927**,01674974517** Fax: 02888888 Name of the Venture The restaurant is a partnership firm. As it will be established in an aristocratic area, the name should be worthy to attract the attention of the customers. So, we decided to name it as ‘GFC’. Location and Facilities of the Venture ‘GFC’ will range in size of 3000 square feet and will seat 100 guests at a time. In order to attract the target customers this restaurant will be located in Shymoli area of Dhaka city. The restaurant will be equipped with a state-of-the-art sound system where our customers will be able to select their favorite country and western songs for free. The restaurant will be built on some prototype specifications: clean lines, open, and pleasing to the customer. The site/building selection will be chosen based upon the following list of criteria: * Community size minimum of 50000 people within one mile. * High visibility. * Easy access to parking lot with a minimum of 10 parking spaces. * Access of high officials during the working days. * No overabundance of competition in the trade area. All of these qualities are consistent with the goal of providing a top quality, entertaining dining experience at a justified price. The consumers’ satisfaction on the organic menu and service would be the best form of marketing. Nature of the Business Restaurant business...

Words: 5985 - Pages: 24

Premium Essay

Financial Study on Service Appartment

...Capital Investment Analysis [FIDELITY SERVICE APARTMENT] Course name: Financial Management Dr. Jahangir Alam Professor IBA, University of Dhaka Group 13 IBA, BBA 20th, Section A Date of submission: 23rd June 2013, Sunday 1 Capital Investment Analysis [FIDELITY SERVICE APARTMENT] NAMES ID NUMBER Munkasir Masud Muhammad Saiyedul Muttaqin Bijoya Chakraborty Kashfia Tabassum Ahmed Imtiaz Farhan Bin Habib ZR-06 ZR-11 RH-22 RH-42 ZR-61 2 Capital Investment Analysis [FIDELITY SERVICE APARTMENT] 23rd June 2013 Dr. Jahangir Alam Professor Institute of Business Administration University of Dhaka Subject: Letter of Transmittal Sir We are pleased to submit the Capital investment analysis on Fidelity service apartment’s ltd. We have completed the report through putting the theories and techniques learnt throughout the Financial Management course. This report contains analysis of the current market situation as well as possible the evaluation of the feasibility of the project. We have recommended some marketing and financial scopes which might prove imperative. We have tried our very best to tailor the report according to your guidelines. Therefore, we request you to accept our report. We believe that you will find it in order. We are eagerly expecting your feedback on the overall report. Thank you. Yours respectfully Group 13 IBA, BBA 20th, Section- A __________________________ Munkasir Masud, ZR- 06 __________________________ Bijoya Chakraborty...

Words: 15083 - Pages: 61