How is the concept of resort hotel different from other types of hotels? From a manager’s perspective, how is managing a resort hotel different from running other properties?

As a concerned employee of 'Delexis Hotel', Sunyani, write a letter to the General Manager informing him of four (4) inherent challenges inhibiting the success of interpersonal communications within the hotel.

What are the knowledge important for hotel business (Customer, supplier, administrator)(Small hotels like darwin city hotel)? How they use these knowledge? Develop a KMS framework for the business

In the US, airlines and hotel companies use different types of generic strategies. What types of generic strategies do airlines and hotel companies use, and why? (Short Essay)

2. In a survey of 529 travelers, 386 said that location was very important and 323 said that room quality was very important in choosing a hotel.

1. Construct a 90% confidence interval estimate for the population proportion of travelers who said that location was very important for choosing a hotel.
2. Construct a 90% confidence interval estimate for the population proportion of travelers who said that room quality was very important for choosing a hotel.

Case Study 2: Forecasting Box Office Returns

For years, people in the motion picture industry – critics, film historians, and others – have eagerly awaited the second issue in January of Variety. Long considered the show business bible, Variety is a weekly trade newspaper that reports on all aspects of the entertainment industry; movies, television, recordings, concert tours, and so on. The second issue in January, called the Anniversary Edition, summarizes how the entertainment industry fared in the previous year, both artistically and commercially.

In this issue, Variety publishes its list of All Time Film Rental Champs. This list indicates, in descending order, motion pictures and the amount of money they returned to the studio. Because a movie theater rents a film from a studio for a limited time, the money paid for admission by ticket buyers is split between the studio and theater owner. For example, if a ticket buyer pays $8 to see a particular movie, the theater owner keeps about $4 and the studio receives the other $4. The longer a movie plays in a theater, the greater the percentage of the admission price returned to the studio. A film playing for an entire summer could eventually return as much as 90% of the $8 to the studio. The theater owner also benefits from such a success because although the owner’s percentage of the admission price is small, the sales of concessions (candy, soda and so on) provide greater profits. Thus, both the studio and the theater owner win when a film continues to draw audiences for a long time. Variety lists the rental figures (the actual dollar amounts returned to the studios) that the films have accrued in their domestic releases (United States and Canada).

In addition, Variety provides a monthly Box-Office Barometer of the film industry, which is a profile of the month’s domestic box-office returns. This profile is not measure in dollars, but scaled according to some standard. By the late 1980’s, for example, the scale was based on numbers around 100, with 100 representing the average box-office return of 1980. The figures from 1987 and 1996 are given in the table below and in the file BoxOffice.xlsx in blackboard.

All the figures are scaled around the 1980’s box-office returns, but instead of dollars, artificial numbers are used. Film executives can get a relative indication of the box-office figures compared to the arbitrary 1980 scale. For example, in January 1987 the box-office returns to the film industry were 95% of the average that year, whereas in January 1988 the returns were 104% of the average of 1980 (or, they were 4% above the average of 1980’s figure).

From the time series given in the above table, you will make a forecast for the 12 months of the next year, 1997.

Managerial Report is due on … Thursday, 19 Sept (40 pts)

1. Produce a time series plot of the data. From this graph, do you see a pattern? Can you see any seasonality in the data?
2. Use exponential smoothing to fit the data. Select an appropriate constant a based on the variation you see in the data. Comment on the appropriateness of exponential smoothing on this data set. Plot the predictions from this model on the graph with the original data. How well does this technique fit the data? Make forecasts for 1997.
3. Use regression to build a linear trend model. Comment on the goodness-of-fit of this model to the data (or, how well does R² explain the variance in the data?). Plot the predictions from this model on the graph with the original data.
4. Develop multiplicative seasonal indices for the linear trend model developed in question 3. Use these indices to adjust predictions from the linear trend model from question 3 above for seasonal effects. Plot the predictions from this model on the graph with the original data. How well does this technique fit the data? Make forecasts for the next 12 months of 1997 using this technique.
5. Which forecasting method of those that you tried do you have the most confidence for making accurate forecasts for 1997? Use MAPE (mean absolute percent error) as your criterion to justify your decision.

Enrichment (5 pts): Use Optimization (and Solver in Excel) to find the optimal smoothing constant in problem 2 above (by minimizing the Mean Squared Error or MSE).

Boatbound

Serial entrepreneur Aaron Hall took note of the “sharing economy” that emerged during the last recession and launched Boatbound, a peer-to-peer boat rental company that brings together boat owners who are willing to rent their boats when they are not in use and people who want a fun boating experience without the cost of owning a boat. Hall realized that 12.2 million boats are registered in the United States, yet the average owner uses his or her boat just 26 days per year. Boatbound screens all potential renters, verifies the condition and the safety of each boat, carries ample insurance on each boat, and covers general liability. Boat owners select their renters from Boatbound’s pool of applicants and set daily rental fees, and Boatbound collects 35 percent of the fee. Boatbound has rented every kind of boat, from kayaks to yachts with captains. Fees range from $200 to $8,500 per day. “As a boat owner and someone in the marine industry, I’ve been waiting for something like this my whole life,” says Aabad Melwani, owner of a marina. “I just didn’t know it.”

Henrybuilt

Scott Hudson, CEO of Henrybuilt, had created a profitable niche designing and building upscale kitchens that ranged from $30,000 to $100,000. In 2006, Hudson opened a New York City showroom, which doubled in size in just 18 months. By 2008, the company had more than 200 jobs in the United States, Mexico, and Canada. When the recession hit, however, new projects came to a standstill, and customers began cancelling orders. In response, Hudson launched a subsidiary, Viola Park Corporation, that provides customers lower-cost remodeling options that use its software rather than an architect to create “custom” variations on Henrybuilt designs. The result is a process that produces a kitchen much faster and at half the cost of a Henrybuilt kitchen. Henrybuilt sales have recovered, but Viola Park accounts for 20 percent of sales and is growing twice as fast as Henrybuilt. Unequal Technologies Robert Vito started Unequal Technologies in 2008 to supply protective clothing and gear, including bullet-proof vests, to military contractors. The protective gear is made from a lightweight yet strong composite material that he developed and patented. Two years later, the equipment manager of the Philadelphia Eagles called to ask whether Unequal Technologies could create a special garment for one of its star players who had suffered a sternum injury. Vito modified the bullet-proof vest for the player and soon had other players in the National Football League asking for protective gear. Unequal technologies went on to develop Concussion Reduction Technology (CRT), peel-and-stick pads for football helmets that are made from before it reaches the skull. Independent tests show that CRT reduces the risk of head injuries from impact by 53 percent. The company now supplies equipment to 27 of the NFL’s 32 teams and has its sights set on an even larger market: amateur sports. Vito says Unequal’s technology gives the company a competitive edge that has allowed it to increase sales from $1 million to $20 million in just one year.

(Source: Scarborough and Cornwall, 2016)

1. Select one of these small businesses (Boatbound or Henrybuilt) and explain how the said business used six (6) of the 10 types of innovation to bolster its success.   

15. Marks)

Lifetime Escapes generates average revenue of $7 970 per person on its 7-day package tours to wildlife parks in Zimbabwe. The variable costs per person are as follows:

Annual fixed costs total $400 000.

Required:

1. Calculate the number of package tours that must be sold to break even.
2. Calculate the revenue needed to earn a target profit of $100 000. (1 mark)
3. If fixed costs increase by $19 000, what decrease in variable cost per person must be achieved to maintain the break-even point calculated in requirement 1?
4. The general manager at Lifetime Escapes proposes to increase the price of the package tour to $8500 to decrease the break-even point in units. Using information in the original problem, calculate the new break-even point in units. What factors should the general manager consider before deciding to increase the price of the package tour? (3marks)

question is correct could you please solve ASAP