1. In most hotel companies, strategic planning is a series of tasks carried out by the GM and ownership working together to set long-term objectives, and the ways in which these objectives can be achieved by the management team. What is the missing step in this list of steps in the process of linking strategic plans to operational plans? Current Performance ; Market Potential ; _________; Baseline Financial Plan; Tactical Plan; Operating Budget; Funding plan.
a) Economic Forecast
b) Risk Assessment
c) Cash Flow Forecast
d) Strategy Impact Projects
2. Select the group of words that is missing from the following statement. “Corporate culture is established at the _____ of an organization and can have a significant impact on the ability of managers to ensure that there is a link between strategy and every day _______ actions. Without such a link, there is a risk that _______ will be seen as only relevant to ______ and _____ ___________. They in turn may be accused of not knowing what is going on in the day to day operations of the business.”
a) Head Office, Departmental, Management, Shareholders, Financial Institutions
b) Top, Customer, Strategy; Owners, Senior Management
c) Head Office, Departmental, Strategy, Owners, Financial Institutions
d) Top, Departmental, Strategy, Owners, Senior Management
3. Complete this list of the types of data that a hotel business will need in order to be able to plan effectively: target, budget, actual, ______, benchmark
a) Estimated
b) Historical
c) Forecast
d) Real
4. Select the group of words missing from this summary of what represents a good business plan: It provides ownership or their representatives with a clear, whole business view of what needs to be managed. It provides a _______ view of the business within an adaptable planning horizon. It helps operational managers to ______ a short-sighted, departmental view of the business. It achieves a more effective use of ________, including working capital. It provides a framework for _____ management. It also identifies the planning systems and technology required to support performance management and _________.
a) Birdseye, Avoid, Capital, Risk, Budgeting
b) Strategic, Create, Capital, Risk, Budgeting
c) Strategic, Avoid, Capital, Risk, Measurement
d) Forecast, Avoid, Capital, Risk, Measurement
In: Finance
According to a research institution, the average hotel price in a certain year was $91.85. Assume the population standard deviation is $18.00 and that a random sample of 41 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. sigma Subscript x overbarequals$ nothing (Round to two decimal places as needed.) b. What is the probability that the sample mean will be less than $93? Upper P left parenthesis x overbar less than $ 93 right parenthesisequals nothing (Round to four decimal places as needed.) c. What is the probability that the sample mean will be more than $96? Upper P left parenthesis x overbar greater than $ 96 right parenthesisequals nothing (Round to four decimal places as needed.) d. What is the probability that the sample mean will be between $91 and $92? Upper P left parenthesis $ 91 less than or equals x overbar less than or equals $ 92 right parenthesisequals nothing (Round to four decimal places as needed.) Enter your answer in each of the answer boxes.
In: Statistics and Probability
the marcus hotel borrows $200000 from the spartan national bank
the details are as follows:
a. Term of loan = 5 years
b. amortization rate = based on 10 years
c. frequency of payment = annual
d. interest rate = 6% required
1. prepare a loan amortization table for five years
2. what percentage of the loan was paid off over the five year
period?
3. what was the total amount of interest paid?
4. what amount of interest will be paid over the 10 life of the
loan?
a. how much be invested today to have 5,000 in five years if the interest rate is 6%?
b. at an effectives interest rate of 9%, what approximate amount will an investor have in 24 years if $5,000 is invested today?
c. Your sister, who is 6 years old today, just received a trust fund that will be worth $25,000 when she turns 21. IF the fund earns annual interest of 10% compounded quarterly, what is it today?
In: Accounting
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Work & Rest is an all inclusive hotel operating as a monopoly in a mid-sized community. The manager estimates that the hotel's total costs are described by the equation C = 0.05Q2 + 10Q + 15000, where Q is the number or persons serviced and P is the price paid per person. Although it is located in a mid-sized community, it is close to a major highway that runs along the east coast. Often times, travelers would use the services of Work & Rest as a stop in their commute between two major citys. As such, the market demand for its service is described by the equation P = 160 - 0.2Q. 1. Given the current market conditions, Work & Rest's profit-maximizing quantity is ___________ and the price charged per person is__________ ( 4 points) Consider that after a series of reports from special interest groups, the local government decides to regulate Work & Rest by using the optimal pricing policy. 2. Given the successful implementation of the government's policy, Work & Rest's profit-maximizing quantity is__________ (2 points) 3. Given the successful implementation of the government's policy, what is Work & Rest's profit at its profit maximizing quantity_____________? (4 points)I 4. If the policy remains in place, and there are no further external shocks to the market, is it likely that West & Rest will continue to operate and provide service? (In the space provided enter will or will not) In the long run, West & Rest _______________ continue to provide service in this mid-sized community. (2 points) |
In: Economics
18. Armond is a shareholder of Brix and Mater Hotel Corporation. For the last few years, business has not been profitable for Brix and Mater. The firm has lost money on its operations. There has been some profit through sales of company assets, but the board of directors has refused to declare a dividend. This last year, the firm’s accountants failed to file federal income tax returns and the board refused to pay the tax. Armond takes a close look at the firm and protests to the board, in particular over the failure to declare a dividend, but the board ignores the complaint.
a. Which of these events, if any, would form a ground for a court to order the dissolution of Brix and Mater, on Armond’s petition?
b. If the court denies the petition, could Armond and the other shareholders dissolve Brix and Mater?
In: Accounting
Work & Rest is an all inclusive hotel operating as a monopoly in a mid-sized community. The manager estimates that the hotel's total costs are described by the equation C = 0.1Q2 + 20Q + 5000, where Q is the number or persons serviced and P is the price paid per person. Although it is located in a mid-sized community, it is close to a major highway that runs along the east coast. Often times, travelers would use the services of Work & Rest as a stop in their commute between two major citys. As such, the market demand for its service is described by the equation P = 170 - 0.2Q.
1. Given the current market conditions, Work & Rest's profit-maximizing quantity is and the price charged per person is ( 4 points)
Consider that after a series of reports from special interest groups, the local government decides to regulate Work & Rest by using the optimal pricing policy.
2. Given the successful implementation of the government's policy, Work & Rest's profit-maximizing quantity is (2 points)
3. Given the successful implementation of the government's policy, what is Work & Rest's profit at its profit maximizing quantity? (4 points)I
4. If the policy remains in place, and there are no further external shocks to the market, is it likely that West & Rest will continue to operate and provide service? (In the space provided enter will or will not)
In the long run, West & Rest continue to provide service in this mid-sized community
In: Economics
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Work & Rest is an all inclusive hotel operating as a monopoly in a mid-sized community. The manager estimates that the hotel's total costs are described by the equation C = 0.05Q2 + 10Q + 15000, where Q is the number or persons serviced and P is the price paid per person. Although it is located in a mid-sized community, it is close to a major highway that runs along the east coast. Often times, travelers would use the services of Work & Rest as a stop in their commute between two major citys. As such, the market demand for its service is described by the equation P = 160 - 0.2Q. 1. Given the current market conditions, Work & Rest's profit-maximizing quantity is Blank 1 and the price charged per person is Blank 2 ( 4 points) Consider that after a series of reports from special interest groups, the local government decides to regulate Work & Rest by using the optimal pricing policy. 2. Given the successful implementation of the government's policy, Work & Rest's profit-maximizing quantity is Blank 3 (2 points) 3. Given the successful implementation of the government's policy, what is Work & Rest's profit at its profit maximizing quantity? Blank 4 (4 points)I 4. If the policy remains in place, and there are no further external shocks to the market, is it likely that West & Rest will continue to operate and provide service? (In the space provided enter will or will not) In the long run, West & Rest Blank 5 continue to provide service in this mid-sized community. (2 points) |
In: Economics
Work & Rest is an all inclusive hotel operating as a monopoly in a mid-sized community. The manager estimates that the hotel's total costs are described by the equation C = 0.05Q2 + 10Q + 15000, where Q is the number or persons serviced and P is the price paid per person. Although it is located in a mid-sized community, it is close to a major highway that runs along the east coast. Often times, travelers would use the services of Work & Rest as a stop in their commute between two major citys. As such, the market demand for its service is described by the equation P = 160 - 0.2Q.
1. Given the current market conditions, Work & Rest's profit-maximizing quantity is Blank 1 and the price charged per person is Blank 2 ( 4 points)
Consider that after a series of reports from special interest groups, the local government decides to regulate Work & Rest by using the optimal pricing policy.
2. Given the successful implementation of the government's policy, Work & Rest's profit-maximizing quantity is Blank 3 (2 points)
3. Given the successful implementation of the government's policy, what is Work & Rest's profit at its profit maximizing quantity? Blank 4 (4 points)I
4. If the policy remains in place, and there are no further external shocks to the market, is it likely that West & Rest will continue to operate and provide service? (In the space provided enter will or will not)
In the long run, West & Rest Blank 5 continue to provide service in this mid-sized community. (2 points)
In: Economics
The Krasnapolski is a top-of-the-line hotel in Amsterdam, the Netherlands. Among their many services, they rent bicycles to guests. The bicycle checkout is open 24 hours per day 7 days per week and has 50 bicycles on hand. On average, 10 guests request a bicycle each day, arriving completely randomly at all times of the day during the spring and summer seasons. Guests keep bicycles for four days on average, with a standard deviation of two days. Remember: any time you see the term "random" associated with the job arrivals it means the coefficient of variation is equal to one; that is, the standard deviation in the time between arrivals is equal to the mean time between arrivals.
How long does a guest on average have to wait for a bike?
1. Approximately 47 minutes
2. Approximately 4 days
3. Approximately 24 hours
4. Approximately 0.033 hours
In: Statistics and Probability
Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $360.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($700.00), and the employer withholds the appropriate taxes for the tips from this first pay in March.
Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, married, 2 allowances), social security taxes, and state income tax (2%).
Enter deductions beginning with a minus sign (-).
Click here to access the Wage-Bracket Method Tables.
| Gross pay | $ |
| Federal income tax | |
| Social security taxes - OASDI | |
| Social security taxes - HI | |
| State income tax | |
| Net pay | $ |
In: Accounting