...An Analysis of the Utilization of Under-Utilized Hotel Rooms Inventory as Executive Serviced Office Space Jeffrey R. Victor, CHA, CHE, CHS, CMP Fairleigh Dickinson University Author Note Correspondence concerning this paper should be addressed to: Jeffrey R. Victor, CHA, CHE, CHS, CMP Fairleigh Dickinson University, Madison, NJ 07940. Contact: jvictor@jeffreyvictor.com Analysis of Repurposing Underutilized Hotel Rooms Inventory as Executive Office Space 1 Abstract When hotels are built, the number of rooms built into inventory becomes a static item. Due to the physical nature of construction, the number of rooms become an inflexible and perishable commodity. In looking at the growing nature of the Executive or Serviced Office industry and the similarities between their product and a hotel’s offerings, it has been theorized that there are revenue opportunities in deploying a serviced office product in pre-existing hotels. Through an analysis of industry trends, demand for offices, product needs and revenue opportunity, a financial model has been developed. After reading this paper, the reader will be able to understand what a serviced executive office is, the similarities between that product and a hotel product and understand how to analyze revenue to determine the financial impact of repurposing a number of rooms as executive offices. They will then be able to utilize the model contained herein to determine if repurposing rooms in such a manner...
Words: 8026 - Pages: 33
...Use of Space & Layout The most fundamental planning for a hotel involves the guestrooms—not only do they account for the bulk of space within a hotel, but a large measure of the hotel experience is in the guestroom. Developing an efficient and effective design of these areas is critical for your initial development budget, but this is also a key to long-term guest satisfaction and operating efficiency. Planning guestrooms requires careful consideration of the activities that will happen within the room. It is important that you match the bedroom mix to the market and the marketing plan, as the type of bed configuration has a major impact on guest satisfaction. In our hotel guest rooms, a combination of carpet and wood would be appropriate, with tile floors specifically black marble tiles reserved for the bathroom. Rooms will be designed in such a way that spaces will feel far bigger than it actually is which will allow for comfort and at the same time provides a creative design for guests to enjoy. When designing a hotel, the hotel must balance functional, layout and aesthetics issues to develop a property that simultaneously meets the needs of the guests, the staff and the owner. Our property that will be heavily design oriented will include functional aspects carefully integrated to enhance, yet not dominate the space. The hotel will be designed in a way so as to inspire, ensure safety, promote efficiency, is cost effective and at the same time it helps to maintain...
Words: 509 - Pages: 3
...of Marriott started with a root beer and the first hotel was opened in Arlington, Virginia in 1957. In 1995, Ritz-Carlton Hotel Company became a part of Marriott International after an acquisition. Today, the company is one of the largest company with more than 4000 properties and almost 700 000 rooms in over 80 countries around the world. In order to target and satisfy every customer, Marriott offers 16 hotel brands which are divided to 6 segments: * Luxury: the Ritz-Carlton, JW Marriott…) * Lifestyle Collection: Edition, Renaissance, Autograph Collection Hotels… * Classic, Signature: Marriott Hotels * Select Service: Courtyard, Fairfield… * Extended Stay: Residence Inn, Marriott Executive Apartments… * Destination Entertainment: Gaylord Hotels… Marriott International operates and franchised hotels and licenses vacation ownership resorts, its culture embraces excellence and communication and technological innovations. In the late 1980s, after the successful implementation of Revenue Management in Airlines, Marriott has led the hotel industry in the practice of Revenue Management. It became an early pioneer of Revenue Management in hospitality. They developed a system named One Yield, which focused on improving hotel profits by timing price increases and promotions as well as using inventory controls. In addition, Marriott has also developed the Demand Forecasting System (DFS). It helps hotels to optimize the profits and revenue by figuring out...
Words: 1841 - Pages: 8
...Marketing: Define each type of Hotels: 1.Airport Hotels: - These type of hotels typically target business clientele, airline passengers with overnight travel layovers or cancelled flights and airline crews or staff. Some hotels might give free transport between hotel and airport . Some Airport hotels also charges the guest by hour instead of normal daily night charges. 2. Bed and Breakfast / Homestays :- These are houses with rooms converted into overnight facilities , this can size up to 1 to 10 guest rooms . They are also known as 'Home Stay's'. The owner of the B&B usually stay on the premises and is responsible for serving breakfast to guest . 3. Boutique hotel:- is a term used initially in North America and the United Kingdom to describe small hotels which have typically between 10 and 100 rooms in unique settings with upscale accommodations. 4. Budget hotel:- is the lowest category of hotel that provides the rooms and meals at cheap cost. Budget hotel offers the facilities which required to fulfilling basic requirements such as daily room service, telephone, television, air conditioning, mineral water, broadband connection, doctor on call, pick & drop facility etc. Some budget hotels also have a multi cuisine room and mini bar. 5. Business Hotels: - These hotels are the largest group of hotel types and they primarily cater to business travelers and usually located in downtown or business districts . Although Business hotels primarily serves business travelers...
Words: 1006 - Pages: 5
...by any means - electronic, mechanical, photocopying, recording, or otherwise (including the Internet) - without the permission of The University of Hong Kong. Ref. 01/108C 1 KO WANG SU HAN CHAN PHUKET BEACH HOTEL: VALUING MUTUALLY EXCLUSIVE CAPITAL PROJECTS Mike Campbell, General Manager of Phuket Beach Hotel, paced his office and considered an offer made by Planet Karaoke Pub. Planet Karaoke Pub was expanding fast in Thailand. It was looking for a venue in Patong beach area for setting up another outlet, and was eyeing an unused space owned by the Hotel. At this point, the space was located on the second floor of the main building and was very much under-utilised. It was reserved for the construction of an alley linking to a new wing for the hotel, which would not be completed until two years later. Planet Karaoke Pub offered to sign a four-year lease agreement with the hotel for renting part of the unused space. It proposed to pay: • a monthly rental fee of 170,000 baht for the first two years; and • thereafter, a 5% increment for the next two years. In order to accommodate the hotel’s expansion plan, Planet Karaoke Pub required only 70% of the unused space, which had a size of 3,000 sq. feet. This would allow the hotel to keep the remaining space for the creation of an alley two years later. It was envisaged that the proposed pub would not affect the hotel’s...
Words: 1781 - Pages: 8
...Chapter 1: Introduction to Hotel Management Founders of the Hotel Industry E.M. Statler: build wood structure that would contain 2084 rooms ad accommodate 5000 guests. It was a temporary structure, and it appeared substantial with a thin layer of plaster. Sold his hotels to Hilton in 1901. (1887-1979) Conrad Hilton: in 1946 he formed the Hilton Hotels Corporation and in 1948 the Hilton International Company (more than 125 hotels). With the purchase of the Statler chain in 1954, Hilton created the first major chain of modern American Hotels ( group of hotels that follow standard operating procedures in marketing, reservations, quality of service, food and beverage operations, housekeeping and accounting. Cesar Ritz: was a hotelier at the Grand National Hotel in Switzeland, and because of his management abilities, the hotel became one of the most popular in Europe. William Waldorf Astor and John Jacob Astor: in 1893, Wiliam Waldorf launched the 13 story Waldorf hotel at Nex York City. The hotel combined the opulence of a European mansion with the warmth and homey qualities of a private residence. 4 years later, the Waldorf was joined by the Astoria Hotel. They were connected with a corridor, and changed the name to Waldorf-Astoria. Kemmons Wilson: started the Holiday Inn chain in the early 1950s. He wanted to build a chain of hotels fot the traveling family and later expanded his marketing plan to include business travellers. Wilson blazed a formidable path, innovating...
Words: 540 - Pages: 3
...I. Economic Benefits Leasing The first and most obvious benefit of leasing the space is the significantly lower capital expenditure at period zero. The capital expenditure for the leasing project is more than half of that of the building a business project. This means that there are less upfront payments as well as less potential debt. Additionally, the guaranteed lease payments indicate a consistent cash flow for the hotel regardless of the success of the pub venture. In comparison, depreciation is also lower from a leasing standpoint due to the lower initial capital expenditure. As the main responsibility of running the business is outsourced to the leasing company, this initiative also incurs less annual costs in terms of raw materials needed to run the business in addition to less operating expenses for the hotel. This situation proves to be a very safe investment for the hotel, as they are taking on minimal costs and have a guaranteed income of capital through the lease payments. Building This initiative proves to be more risky than leasing; nonetheless offers a higher return. The initial capital expenditure is double that of leasing the space, however it does give the hotel full earnings of all future revenue. While incurring additional raw material and operating costs throughout the year, this initiative does prove to be more expensive with a higher degree of labor required. That being said, if run properly the venture is projected to turn a much higher profit...
Words: 1225 - Pages: 5
...Scenario My Principle is a Mr John from North Wales who will be making an unannounced visit to the Stradey Park Hotel for an overnight stay in the Executive suite, whilst there he will visit the restaurant where his PPO will dine with him and he will possibly go for a walk around the grounds. There is a known threat from a Pakistani businessman that is long standing over money. The threat for this scenario is low. Venue Security Plan Venue Overview Stradey Park Hotel Furnace Llanelli SA15 4HA, United Kingdom Telephone Number: 01554758171 4* Hotel with 83 rooms, 1 of which is an Executive suite and another is an executive bedroom. Four floors and a mezzanine (Executives suits located here between floors one and two).One main route in and out, two car parks upper and lower, no garage facilities, restaurant on site named Sapphires (located ground floor) and a rooftop residents bar located on fourth floor. Main bar open to the public also located on ground floor. The hotel has one lift a 24 hour check in and no concierge service. There are three entrances and exits. Map into Hotel Ariel View Route in/Out Route in/Out Car park space Car park space Restaurant Restaurant Key locations Pick Up/Drop off point Pick Up/Drop off point Security There is no onsite security, the venue is covered well by a variety of CCTV (Tilt and swivel arm, dome camera) we will be allowed access to the monitors should we need it, the monitors are unmanned but access...
Words: 628 - Pages: 3
...busy in collection of illegal money from traffic rules violators. ➢ Heavy numbers of vehicle on roads. ] When the government as well as traffic department of Bangladesh Police are continuously trying to resolve the ever increasing traffic congestions in the capital city in Bangladesh, owners of Multi Storied Buildings [MSB] are continuing to further worsen the situation as most of them do not either have under-ground vehicle parking facilities in their buildings, or have already used the under-ground parking spaces for various commercial and industrial purposes. Just because of such illegal practices by the owners of such multi storied commercial and residential buildings, vehicles are parked on road sides, causing extra burden to the existing traffic congestions. On physical verification, Weekly Blitz has already located a number of multi storied buildings in Dhaka city, where there are no under-ground parking spaces, or the under-ground parking spaces are already used for various commercial and industrial purposes. List of such buildings are given below for the knowledge of Dhaka City Corporation, Rajdhani Unnayan Kartipakkha - RAJUK [Capital City Development Authorities], Bangladesh Police and the ministries concerned: 1. Rajlaxsmi...
Words: 1302 - Pages: 6
...capital invested on the business. For instance, accommodation services for hotels and restaurants can be divided into several categories which include house keeping, booking, and communication and administration services (Lewry, 2012, p.2). The front office services for hotels and restaurants can also be under several categories which include bell service, room allocation services, concierge, information and mails, night auditors and cashiers. Accommodation services generally provide the clients or guest with comfortable, welcoming, attractive and clean services (Lewry, 2012, p.2). Other organizations like learning institutions offer accommodation and front office services as well. For example, higher education organizations like universities and colleges offer accommodation inform of hostels. Accommodation services in these institutions include booking, administration and communication services whereas the front office services include cashiers, enquiries and room allocation services. 1.2 Analyse the roles and responsibilities of a range of accommodation and reception services staff M1: You should adopt a suitable strategy to identify responsibilities of reception service staff of an organization of your choice (Merit M1) Front office and accommodation services are divided into different departments and have several functions (Lewry, 2012, p.2). For example, Hilton Garden Inn Luton North is a hotel and restaurant located in the United Kingdom. The front office has several...
Words: 3291 - Pages: 14
...homework is to complete a Site Selection. Imagine you are planning an event and visit a location near you that could be used to host a wedding, meeting, or other event. Using Appendix 3 on page 457 of the text as your guide, write a two page overview addressing the following areas. As a guide, the homework will be three to four pages in length and include the following 14 sections. This assignment is worth 55 points and needs to be submitted to the Dropbox for Week 2. Event Description – This is where you communicate your event details including attendance, theme, date, time, and a 2-3 sentence overview of the event. 1. Location 2. Surrounding Vicinity 3. Accessibility 4. Property Description 5. Property Amenities 6. Function Space 7. Catering 8. Kitchens 9. Equipment 10. Guest Rooms 11. Services 12. Personnel 13. Policies 14. Risk Management Introduction We are planning a wedding ceremony for two popular with large crowd, they are expecting 400 guest at the wedding, featuring a romantic theme. Couples want champagne, candlelight and a beautiful aura of ambience that celebrates a romantic wedding theme. It will include soft subtle colors to fine music and elegant decorations, fairytale weddings speak to the heart. The event will take place in four months, to be precise May 17th, 2014 at 3 pm prompt. Site Location I have suggested a location to the couple, which is the Tinley Park convention center, located at 223 Harlem roads, Tinley park, IL,...
Words: 1659 - Pages: 7
...ceremony, but leading into the reception hall. As for the reception, the bride and groom envisioned falling snow, fog, blue lighting, drapes, and chiavari chairs. The location had to be large enough to accommodate approximately 150 guest. The wedding will take place on Saturday, January 14, 2017 at 6PM, right when the sun is setting. I. Location The wedding will be held at The Ritz-Carlton Grande Lakes Hotel, in Orlando, Florida. For guests who will be traveling to the wedding, by way of the airport, will have the option of using the hotels airport shuttle at a cost of $45 roundtrip. The distance from the Orlando International Airport to the hotel is approximately 12.2 miles, estimating 17 minutes in travel time. Area attractions, such as theme parks are located within a 15 mile distance, estimating a 20 minute travel time. II. Surrounding Vicinity The Ritz-Carlton Grande Lakes Hotel is adjacent to the JW Marriott Hotel. While the wedding will be held at the Plaza Ballroom, guest may also reserve guest rooms at the JW Marriott Hotel at their leisure. Both hotels are located on the Grand Lakes property and are connected by the Conference Center and walking breezeway. Guest can travel offsite to nearby attractions that the whole family can enjoy. Some attractions include: Discovery Cove, SeaWorld, Universal Studios, Islands of Adventure,...
Words: 1274 - Pages: 6
...Hotel Massenet (Si Nan Mansions) Hotel Massenet is an integral part of Sinan Mansions. Hotel Massenet is named after what Sinan Road was called in the French Concession days Route Massenet. It all began in 1920, in the heart of the then French Concession in Shanghai. This was the year when the first buildings south of French Garden (now Fuxing Park) on Rue Lafayette (now Fuxing Road) were built. Today, Sinan Mansions comprises 49 restored historical buildings and nine new buildings grouped into four functional precincts - hotel, commercial, residential and office - and the area remains one of the top addresses in Shanghai, China's international economic, financial, trade and logistics centre. Competitors: Crowne Plaza owned by Intercontinental Hotel Group, Britain. Strategy: Hotel Massenet:(1) Domestic/Localized (2)Competing mainly on Differentiation(Living Experience)—Classical building structures and room styles. Crowne Plaza:(1)International (2)Competing mainly on relatively low cost for 5 Star Hotels and quick response(Top Services). Improvement for Hotel Massenet : (1)The price for one night is around $1500 to $5000 which is really high and unacceptable by ordinary people, while the price for Crowne Plaza is about $150, a comparatively fair one in Shanghai (2)Maybe due to its history , Hotel Massenet is limited and well-known in Shanghai only. Location: Hotel Massenet: Junction of Fuxing Road and Chongqing Road, Adjacent to Fuxing Park-which is in one...
Words: 803 - Pages: 4
...The Advantages and Disadvantages of the Dubai Museum Location and Implication of Visiting Patterns Word Count: 1500 Summary Research was conducted through distributing questionnaires to the visitors of the Dubai museum. The findings illustrated that the advantages of the location showed that it was easy to locate, and is located near the metro station. However, findings have also showed that the parking spaces at the Dubai museum are limited and lanes are more congested making it harder for other vehicles and tour buses to reach the museum. Objectives 1. To identify the advantages and disadvantages of the Dubai museum location. 2. To identify the different implications of visiting patterns. 3. To exhibit the findings from the research taken and recommendations to improve the location of the Dubai museum. Introduction Dubai is known for its huge malls, ideal looking hotel and its gleaming skyscrapers; nonetheless, Bur Dubai maintains its culture and history (TVtrip, Bastakiya, 2013). Dubai museum is one of the most attractable historical monuments in Dubai with the aim of presenting a culture and a traditional way of life in the past. It is located in Al- Fahidi Fort, which is a landmark in the Gulf as well as the United Arab Emirates. Al Fahidi Fort subsisted to protect the city against any incursions; therefore, the Dubai Museum presents several dimensions of the region's ethnicity before oil was found (TVtrip, Bastakiya, 2013). The location...
Words: 1742 - Pages: 7
...Hotel Room Booking Database Evaluation I have created a booking system for the hotel which allows the user of the database, notably the hotel staff, to input all information in regards to a hotel booking, including room information and customer registration information. This is instead of the paperbased method of booking in, which the hotel uses at current. I have created the booking database as, after consideration, the hotel decided it would be a more uptodate method of booking in and after they had several issues with loss of data whilst using the paperbased method. Although it still may be the case that data is occasionally/accidentally lost while using the booking database, this is much more less likely to happen as back up copies can be made of the data, which were not made when using the paperbased method as this would be too time consuming for the hotel. I have created a database with four main parts, which are: Customer, Booking, Booking/Room and Room tables which each have a connected form. To use the Hotel Room Booking Database, the user should load the database file from the shortcut on the desktop. Then, a splash screen will be displayed this will be the first thing that the user sees when the database file is loaded. After this, the user should click anywhere on the splash screen to display the message box “Hit the OK button to progress to the login screen”. The user then clicks OK, and then OK on the following message box “You will ...
Words: 7101 - Pages: 29
