5.Contrast the level of security in a hotel that uses a hard-key system with that in a hotel that uses an electronic key or smart card system.

Exercise 1-4. Information Age [LO 4]

The Wellington Hotel is a posh hotel in Manhattan that uses a customer relationship management (CRM) system to track customer preferences and purchases.

Provide two examples of specific information the CRM system might capture and how the hotel could use the information to enhance revenue and/or the customer experience.

A survey of 1935 people who took trips revealed that 181 of them included a visit to a theme park. Based on those survey results, a management consultant claims that less than 10 % of trips include a theme park visit. Test this claim using the ?=0.01 significance level.

(a) The test statistic is

(b) The P-value is

(c) The conclusion is  

A. There is not sufficient evidence to support the claim that less than 10 % of trips include a theme park visit.
B. There is sufficient evidence to support the claim that less than 10 % of trips include a theme park visit.

Problem 2

The Manager at Brackley Fun Park advertises that the typical family visiting the park spends at least one hour in the park during weekends. A sample of 35 visitors during the weekends in the month of July revealed that the mean time spent in the Park was 62 minutes with a standard deviation of 8 minutes.

1. Using the 0.01 significance level and a one-tailed test, is it reasonable to conclude that the mean time in the Park is greater than 60 minutes? Show all steps in your test of hypothesis.
2. Repeat the analysis at the 0.05 significance level. (You may show only the calculations that change).
3. Repeat with a survey mean of 65 minutes at the .01 significance level. (You may show only the calculations that change).
4. What do you conclude from your analysis?

Here is the ORIGINAL data of the Sport Hotel project: 1. Projected outflows First year (Purchase Right, Land, and Permits) $1,000,000 Second Year (Construct building shell $2,000,000 Third Year: (Finish interior and furnishings) $2,000,000 TOTAL $5,000,000 2. Projected inflows If the franchise is granted hotel will be worth: $8,000,000 when it opened If the franchise is denied hotel will be worth: $2,000,000 when it opened. The probability of the city being awarded the franchise is 50%. Suppose that everything is the same as in that problem except TWO things: the worth of the hotel, should the city be awarded the franchise, is not $8 million but some unknown smaller number; and the probability of getting the franchise is NOT 50% but is upgraded to 80%. What must the new worth of the hotel when the franchise is granted be in order for the NPV of the Sporthotel project to be equal to exactly zero?

Use SPSS to get the appropriate output, and please explain the process. Along with providing the SPSS output, use the 5 steps of hypothesis testing to analyze the results by using the p-value approach. 6. Create an SPSS file with the variable names Hotel and Inspection. In the Hotel column, enter the value 1 in the first 25 cases and the value 2 in the next 30 cases. Then, in the Inspection column, enter the value 1 for any four cases of Hotel 1 and 0 for the rest of the Hotel 1 cases. And, enter the value 1 for any 10 cases of Hotel 2 and 0 for the rest of the Hotel 2 cases. For the inspection variable, 1 = a room failed inspection & 0 = a room passed inspection. a) Run a binomial test on for H0: π≤ 0.1 versus H1: π > 0.1 Test at 0.05 level of significance. b) Run a chi‐square test on H0: π1 – π2 = 0 versus H1: π1 – π2 ≠ 0 Test at 0.05 level of significance.

Assuming you will speak to 30 people attending a conference, if there is a 28% chance they are staying in the hotel hosting the conference. Find the following binomial probabilities.

Donald has recently lost his job as the President of a large North American country and has returned to the family hotel business. Their most prestigious hotel Tramp Tavern has been closed for two years whilst it has undergone refurbishment and the hotel is about to be relaunched. The hotel runs conventionally and has a number of cost centres such as Reception, Concierge, Repairs and Maintenance which are relatively fixed. The hotel also has variable costs relating to cleaning and servicing rooms. You have been provided with the following data regarding the re-furbished Tramp Tavern: Available Rooms 400 Average Room Tariff (per night) $230 Fixed Financing Costs $10 million Fixed Operating Costs $15 million Variable Operating Costs (per night when occupied) $50 Required a) What is the breakeven point (in total room rentals for the year) for the Tramp Tavern? Show the percentage of occupancy that the hotel must achieve in order to break even (show all calculations)

The manager of a hotel is negotiating with a client the room rate that will be charged to the attendees of an assembly to be held at the hotel. In this type of activity, the organizers are responsible for obtaining a rate for the rooms that is competitive for the attendees and for a minimum number of people to stay during the activity. The cost of the rooms is paid by the attendees and is NOT included in the cost of registration paid to attend the Assembly. The organizers are responsible for paying for the food during the activities (breakfast, lunch and snack, this includes the service and other activities to support the assembly), in exchange for this they can use the conference rooms for free. The cost of the dinner is not covered in the cost of the rooms or by the organizers. The cost of the room DOES NOT include breakfast, lunch or dinner. It also does not include the cost of washing or ironing clothes. The hotel provides free internet, but does not include long distance calls as part of the room rate. The client estimates that the meeting will be attended by 200 people and that at least 10% of them will stay at the hotel because they come from abroad. The activity will take place during the hotel's off-season, so the manager understands that he will have enough rooms available to fulfill the agreement.

1. What costs do you think the hotel manager should take into account when calculating the total cost per room per night that will be charged to regular clients (assume that all rooms are the same)? DO NOT use monetary amounts, neither real nor hypothetical. Provide a list of 10 costs in the following format. It must include some costs that are specifically for the room and others of the hotel in general

2. What costs do you think the hotel manager should take into account when calculating the total cost per room per night that will be granted to those attending the meeting? Using the same list above, add a column to indicate if it is relevant or not.

3 Assembly attendees always have the option of staying at the Assembly hotel or in another nearby hotel. In addition to the costs, what other considerations or variables can the hotel manager take into account when promoting their rooms and the hotel between the registration of the Assembly? Provide a list

Amy Richardson had been a well-paid sales manager of a major hotel chain for 15 years. Due to a hotel owner's illness, Amy was offered the opportunity to purchase a hotel near a seaside vacation area she had often visited. After obtaining a lawyer and a financial accountant to assist her, Amy did an analysis of the most recent financial statements of the hotel. Since the hotel had consistently shown a profit during the past few years, Amy thought that the price of the hotel was reasonable, so she decided to purchase the hotel. She resigned her position, obtained a loan, and purchased the hotel.

During the first year as a hotel manager, Amy received an offer from a tour operator who proposed to guarantee a considerable number of room reservations, including during the off-season. However, she turned down the offer because the tour operator asked for a 20% price reduction compared to the regular room rate. A few weeks later, she decided to shut down the restaurant, located in the main building of the hotel, in order to save expenses. With regard to general expenses, she was particularly concerned with the high room cleaning and service costs. On the sales side, although the reservations for the cheaper standard rooms were a bit sluggish, the more expensive large-size superior rooms had a very good occupancy rate of over 90%.

The following year, there was a severe economic downturn and also a very bad weather season that reduced the number of guests and also caused a resulting mold situation in the hotel building that required expensive repair work. Amy ran short of cash, became emotionally distraught, and eventually had to sell the hotel at a significant loss.

Prepare a cash budget for the first four quarters after Amy’s purchase of the hotel with any data you can imagine or find on the internet. To answer the question, invent some basic cost and revenue data. Enter the numbers directly in the table below. The table of the cash budget itself should not exceed 15-20 lines. In addition to that, make sure to explain your underlying assumptions and comment on the results in the space provided below the table.

• calculation of cash receipts, including assumptions and comments;
• calculation of cash disbursements, including assumptions and comments;
• for overall coherence / form, and overall conclusions/comments

Cash Budget for the first four quarters:

Add additional lines as needed.