Questions
Please answer in 250-350 words please. What is a PMS? What are the key features PMS...

Please answer in 250-350 words please.

What is a PMS? What are the key features PMS should have to operate the hotel more effectively and efficiently? What other systems should PMS be seamlessly connected for better communication and management from the operators’ perspectives?

In: Operations Management

please share your opinons As an HR director of 5 starts hotel, what can you do...

please share your opinons

As an HR director of 5 starts hotel, what can you do to create employee engagement during this COVID-19 for:

Your work from home (WFH) employee, your unpaid employees and your active working employees.

In: Operations Management

LaVilla is a village in the Italian Alps. Given its enormous popularity among Swiss, German, Austrian,...

LaVilla is a village in the Italian Alps. Given its enormous popularity among Swiss, German, Austrian, and Italian skiers, all of its beds are always booked in the winter season and there are, on average, 1,200 skiers in the village. On average, skiers stay in LaVilla for 10 days.

A. How many new skiers are arriving – on average – in LaVilla every day?

B. A study done by the largest hotel in the village has shown that skiers spend on average $50 per person on the first day and $30 per person on each additional day in local restaurants. The study also forecasts that – due to increased hotel prices – the average length of stay for the 2014/2015 season will be reduced to five days. What will be the percentage change in revenues of local restaurants compared to last year (when skiers still stayed for 10 days)? Assume that hotels continue to be fully booked!

In: Other

As the manager of a local hotel chain, you have hired an econometrician to estimate the...

  1. As the manager of a local hotel chain, you have hired an econometrician to estimate the demand for one of your hotels (H). The estimation has resulted in the following demand function:

QH = 3,000 – PH – 1.8PC – 2.5PSE + 2.4POH + .01M, where,

PH is the price of a room at your hotel, PC is the price of concerts in your area,

PSE is the price of sporting events in your area,

POH is the average room price at other hotels in your area, M is the average income in the United States.

What would be the impact on your firm of each following scenarios?

(all answers should indicate the precise increase or decrease in the number of rooms rented)

  1. A $4,000 increase in income?
  2. A $30 reduction in the price charged by other hotels?
  3. A $40 increase in the price of tickets to local sporting events?
  4. A $25 increase in the price of concert tickets, accompanied by a $500 decrease in income?

In: Economics

Carolyn and Sanjay are neighbors. Each owns a car valued at $10,000. Neither has comprehensive insurance...

Carolyn and Sanjay are neighbors. Each owns a car
valued at $10,000. Neither has comprehensive insurance
(which covers losses due to theft). Carolyn’s
wealth, including the value of her car is $80,000.
Sanjay’s wealth, including the value of his car is
$20,000. Carolyn and Sanjay have identical utility
of wealth functions, U(W) = W0.4. Carolyn and
Sanjay can park their cars on the street or rent space
in a garage. In their neighborhood, a street-parked
car has a 50% probability of being stolen during the
year. A garage-parked car will not be stolen.
a. What is the largest amount that Carolyn is willing
to pay to park her car in a garage? What is the
maximum amount that Sanjay is willing to pay?
b. Compare Carolyn’s willingness-to-pay to Sanjay’s.
Why do they differ? Include a comparison
of their Arrow-Pratt measures of risk aversion.
(Hint: See Solved Problem 16.4.) M

In: Economics

Consider eruptions of Old Faithful geyser in Yellowstone National Park. The distribution of eruptions is said...

Consider eruptions of Old Faithful geyser in Yellowstone National Park. The distribution of eruptions is said to be roughly normal and based on a study done in the park in 2011 has a mean time between eruptions of 93 minutes with a standard deviation of 9.5 minutes.

A)You have watched the Geyser erupt, but your friend missed it. What is the probability that he will have to wait less than an hour to see it?

B)What is the probability your friend has to wait more than 100 minutes to see the eruption?

C)Suppose you decide to study this geyser over an extended period. You watch 20 eruptions and record the time between each. What is the probability that the mean from your sample is more than 100 minutes (assuming that the original data is true)?

D)What would our probability be if we studied 60 eruptions instead?

In: Statistics and Probability

A travel analyst claims that the mean room rates at a three-star hotel in Chicago is...

A travel analyst claims that the mean room rates at a three-star hotel in Chicago is greater than $152. In a random sample of 36 three-star hotel rooms in Chicago, the mean room rate is $160 with a population standard deviation of $41. At α=0.10, what type of test is this and can you support the analyst’s claim using the p-value? Claim is the alternative, reject the null as p-value (0.121) is not less than alpha (0.10), and can support the claim Claim is the null, fail to reject the null as p-value (0.121) is not less than alpha (0.10), and cannot support the claim Claim is the null, reject the null as p-value (0.121) is not less than alpha (0.10), and cannot support the claim Claim is the alternative, fail to reject the null as p-value (0.121) is not less than alpha (0.10), and cannot support the claim

In: Statistics and Probability

A major cab company in Chicago has computed its mean fare from O'Hare Airport to the...

A major cab company in Chicago has computed its mean fare from O'Hare Airport to the Drake Hotel to be $25.89, with a standard deviation of $3.10. Based on this information, complete the following statements about the distribution of the company's fares from O'Hare Airport to the Drake Hotel.

(a) According to Chebyshev's theorem, at least ?56%75%84%89% of the fares lie between 19.69 dollars and 32.09 dollars.

(b) According to Chebyshev's theorem, at least 8/9 (about 89%) of the fares lie between dollars and dollars. (Round your answer to 2 decimal places.)

(c) Suppose that the distribution is bell-shaped. According to the empirical rule, approximately 68% of the fares lie between dollars and dollars.

(d) Suppose that the distribution is bell-shaped. According to the empirical rule, approximately ?68%75%95%99.7% of the fares lie between 19.69 dollars and 32.09 dollars.

In: Statistics and Probability

A survey found that​ women's heights are normally distributed with mean 63.9 in. and standard deviation...

A survey found that​ women's heights are normally distributed with mean 63.9 in. and standard deviation 3.1 in. The survey also found that​ men's heights are normally distributed with mean 69.1 in. and standard deviation 3.4 in. Most of the live characters employed at an amusement park have height requirements of a minimum of 57 in. and a maximum of 62 in. Complete parts​ (a) and​ (b) below.

a. Find the percentage of men meeting the height requirement. What does the result suggest about the genders of the people who are employed as characters at the amusement​ park?

The percentage of men who meet the height requirement is __%.

​(Round to two decimal places as​ needed.)

b. If the height requirements are changed to exclude only the tallest​ 50% of men and the shortest​ 5% of​ men, what are the new height​ requirements?

The new height requirements are a minimum of__in. and a maximum of __in.

​(Round to one decimal place as​ needed.)

In: Statistics and Probability

A currency swap specifies the exchange of currencies at periodic intervals and may allow the MNC...

  1. A currency swap specifies the exchange of currencies at periodic intervals and may allow the MNC to have cash outflows in the same currency in which it receives most or all of its revenue.

In a comparison of two alternative loans with different debt denominations for the foreign subsidiary we see the following: The Global Hotel Company’s Belizean subsidiary obtains a BZ$40 million loan at an annualized interest rate of 5.5% or arranges a loan of US$20 million with a 4% interest rate.

Calculate the amount repaid in both Belizean dollars and US dollars in interest and principal and determine which is a better borrowing plan for the Global Hotel Belizean subsidiary.

Year 1

Year 2

Year 3

Loan of BZ$40,000,000 @ 5.5%

Loan of US$20,000,000 @ 4.0%

Forecast Exchange Rate of BZ$

$.50

$.48

$.45

BZ$ needed to repay loan

In: Finance