Marketing Department of the Terminus Hotel forecasted an average occupation level of 40% during 2009. In November 2008‚ the department received two offers from regular customers‚ the first at a rate of €90 for 10 rooms per day‚ and the second at a rate of €95 for 5 rooms per day. Both offers were rejected. Based on the numbers‚ it appears that the accounting department rejected both offers because the rate fell short of the total cost per room per day for the hotel. Assuming an occupancy rate of 40%
Premium Costs Variable cost Cost
Executive Summary This essay looks at the Ritz-Carlton hotel operations‚ marketing strategies and service qualities. The essay will also include the transformational process model (including inputs and outputs) like shown in the Hospitality Operations A system approach book by Ball et al. (2003)‚ also market segmentation‚ differentiation and position in the market. The information was obtained from different literature such as academic journals and topic related books. RITZ-Carlton
Premium Marketing Customer service Hotel
INVENTORY MANAGEMENT SYSTEM (IMS) INTRODUCTION: Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management involves a retailer seeking to acquire and maintain a proper merchandise assortment while ordering‚ shipping‚ handling‚ and related costs are kept in check. It also involves systems and processes that identify inventory requirements‚ set targets‚ provide replenishment techniques‚ report actual and projected inventory status and handle
Premium Supply chain management terms Invoice Sales order
This essay will examine three human behavioral issues that have evolved from the social sciences in the context of managing organizations. The case study that will be used to analyze these conditions and theories deals with The Portman Hotel Company-San Francisco. Three issues will be addressed in the following order: fundamental attribution error‚ Expectancy Theory‚ and Operant Conditional Theory. First‚ a brief description will be provided for each theory‚ then how the theories relate to the
Premium Reinforcement Motivation Attribution theory
RESPONSIBILITIES HOTEL DIRECTOR The Hotel Director is responsible for all hotel departments onboard and supervises all "hotel" department heads to ensure company standards and procedures are being upheld‚ in an effort to maximize guest service and satisfaction. The Hotel Director oversees crew morale onboard and allocates crew cabins. They are directly involved in the maximization of onboard revenues and will monitor and control expenses and requisitions of all hotel departments. The Hotel Director
Premium Carnival Cruise Lines Cruise line The Guest
The use of the statement of cash flow is a relatively new wrinkle in financial reporting. This statement‚ however‚ can be a useful management tool CASH FLOW is the life blood of a hotel. To manage a hotel’s assets properly‚ the hotel’s management must understand cash flow. The Financial Standards Board (FASB) has mandated that companies issue a statement of cash flow (SCF)‚ in addition to the traditional income statement and balance sheet. The SCF is a replacement of the little-understood measure
Premium Income statement Generally Accepted Accounting Principles Cash flow statement
Fabian Mora Ms. Welch English Honors 1 March 20 2012 The Merchant of Venice Act III‚ i 1.) Salerio and Solanio are designed to reflect Venetian society at large because they show what is happening to inform the audience. They are also very nosey and hate Jews like the entire Venetians do. 2.) It is such a crisis for Shylock that his daughter converted and married a Christian because when Jessica left she stole a lot of his precious jewels and money. Tubal claims that she is spending
Premium The Merchant of Venice Shylock
Contents I. Introduction 1. What is Marketing? II. Body 1. The importance of marketing to the society 1.1. Marketing helps to achieve‚ maintain and raise the standard of living of the Society. 1.2. Marketing increases employment opportunities. 1.3. Marketing helps to increase the national income. 1.4. Marketing helps to maintain the economy marketing 1.5. Marketing helps in creating of utilities. 2. The importance of marketing to the business firms
Premium Marketing
Mini Assignment for Understanding ‘Culture’ Jesse Williams 1. Define the term ‘culture’ The definition of the word culture is; The arts and other manifestations of human intellectual achievement regarded collectively. 2. How would a sociologist define ‘culture’ compared to the way a psychologist would define the concept? A sociologist defines culture; Culture consists of the beliefs‚ behaviours‚ objects‚ and other characteristics common to the members of a particular group or society. A
Premium Sociology Karl Marx Culture
Solutions to Problems Note to instructor: In most problems involving the IRR calculation‚ a financial calculator has been used. P9-1. LG 1: Payback period Basic a. $42‚000 ÷ $7‚000 = 6 years b. The company should accept the project‚ since 6 < 8. P9-2. LG 1: Payback comparisons Intermediate a. Machine 1: $14‚000 ÷ $3‚000 = 4 years‚ 8 months Machine 2: $21‚000 ÷ $4‚000 = 5 years‚ 3 months b. Only Machine 1 has a payback faster than 5 years and is acceptable. c. The firm will accept the first
Premium Net present value