Future of Hotels
Final Report
Course Name: HBM 495
Names:
Zac Brown #11044645
Caroline Grotheer #11089154
Shawny Ingle #11047244
Jennell Lottinville #11119275
Matthew Olson #11202706
Briana Scarcelli #11204917
Team Name: Cougar Suites
Date: April 12th, 2013
Location: Taipei, Republic of China
Executive Summary
The purpose of this paper is to go through each step of creating a strategic business plan for the Cougar Suites hotel. This paper is divided into 7 different sections. The first section is the introduction to the paper and to Cougar Suites. We are a 500 room full service hotel with mid level quality and mid level price. Our primary segments are Business, Corporate/Business Meetings, and Association meetings. While our secondary segments are small business, families, corporate contract, affluent mature travelers, and international leisure travelers. The 2nd section of this paper is the identification of performance gaps. We have compared our performance measures with our objectives, market average and our top two competitors. This section shows these comparisons with all ten of our performance measures: Occupancy percentage, Rooms Revenue, Total Revenue, Market Share based on Revenue, RevPAR, ADR, Yield Management, Operating Efficiency Ratio, and Profit Margin. Section 3 of this paper focuses on the causes behind our top 3 performance gaps. We have previously determined our top 3 performance gaps to be occupancy percentage, market share based on number of rooms sold, and RevPAR. We choose these top three after ranking our performance measures based on extent, magnitude, and impact. With this we then identify our top five performance gaps which include 4) Total revenue and 5) Profit margin. After going into further explanation of the top five we than narrow it down to our top 3 and begin addressing ways to improve these results. Section 4 goes into further analysis
Course Name: HBM 495
Names:
Zac Brown #11044645
Caroline Grotheer #11089154
Shawny Ingle #11047244
Jennell Lottinville #11119275
Matthew Olson #11202706
Briana Scarcelli #11204917
Team Name: Cougar Suites
Date: April 12th, 2013
Location: Taipei, Republic of China
Executive Summary
The purpose of this paper is to go through each step of creating a strategic business plan for the Cougar Suites hotel. This paper is divided into 7 different sections. The first section is the introduction to the paper and to Cougar Suites. We are a 500 room full service hotel with mid level quality and mid level price. Our primary segments are Business, Corporate/Business Meetings, and Association meetings. While our secondary segments are small business, families, corporate contract, affluent mature travelers, and international leisure travelers. The 2nd section of this paper is the identification of performance gaps. We have compared our performance measures with our objectives, market average and our top two competitors. This section shows these comparisons with all ten of our performance measures: Occupancy percentage, Rooms Revenue, Total Revenue, Market Share based on Revenue, RevPAR, ADR, Yield Management, Operating Efficiency Ratio, and Profit Margin. Section 3 of this paper focuses on the causes behind our top 3 performance gaps. We have previously determined our top 3 performance gaps to be occupancy percentage, market share based on number of rooms sold, and RevPAR. We choose these top three after ranking our performance measures based on extent, magnitude, and impact. With this we then identify our top five performance gaps which include 4) Total revenue and 5) Profit margin. After going into further explanation of the top five we than narrow it down to our top 3 and begin addressing ways to improve these results. Section 4 goes into further analysis