In: Finance
In 2014 Vail Resorts, Inc. (MTN), purchased Park City Mountain Resort for $182.5 million. Vail also announced it would invest another $115 million for resort upgrades, which included $50 million to link the Park City Mountain Resort to Vail's neighboring Canyons Resort. This would create one of the largest ski resorts in the United States, with over 7,000 acres of skiable terrain.
Interestingly, the opportunity to purchase Park City Mountain Resort arose because the previous owners missed the deadline to renew their 20-year lease of the property by two days. The unexpected option to purchase the resort led top management to engage in capital budgeting analysis to see if the massive expenditure necessary for the purchase and upgrade of the Park City Mountain Resort would pay off.
Instructions
1. What estimates would be needed for Vail to perform a net present value analysis of whether to buy the Park City Mountain Resort?
2. What uncertainties would Vail have to consider about these estimates?
3. What metrics are available to external stakeholders for use in assessing Vail's capital budgeting decisions?
Note: use proper citations when necessary.
In: Finance
What are the different white-collar crimes? Representatives of hotels, restaurants, hotel and restaurant supply companies, and other businesses located in Portland, Oregon, organized an association to attract conventions to their city. Members were asked to make contributions equal to 1 percent of their sales to finance the association. To aid collections, hotel members, including Hilton Hotels Corporation, agreed to give preferential treatment to suppliers who paid their assessments and to curtail purchases from those who did not. This agreement violated federal antitrust laws. The United States sued the members of the association, including Hilton Hotels, for the crime of violating federal antitrust laws. Can a corporation be held criminally liable for the acts of its representatives? If so, what criminal penalties can be assessed against the corporation?
In: Economics
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)
In: Economics
You are the designer for a public address (PA) system to be installed for a new hotel. The hotel shall have 15 storeys, 230 rooms, one recreational floor, one car park floor, two restaurants, and two banquet rooms.
(a) One of the banquet rooms has dimensions 45 m (width) x 35 m (length) x 5.5 m (height). If ceiling-mounted loudspeakers of 110° coverage angle is to be installed, calculate the number of speakers required for the room. State clearly ALL your assumptions in the calculations. Draw a simple layout plan to show the locations of the loudspeakers.
In: Electrical Engineering
What are GASB requirements for bonded debt?
Town Oaks’ residents want to start a fund to improve their local community. Town Oaks, a gated community, has voted to create a neighborhood park with bonded debt. The bonds will be repaid by the residents and the following transactions are related to park debt:
• The community has a tax burden for the park of $5,000,000, which is imposed on January 1, 20X7.
• Payments start at the beginning of the current year and will be paid in 10 equal annual payments.
• 5% interest is due on the unpaid installments.
• Payments and interest on the unpaid payments was collected by December 31, 20X7.
• A small amount of the assessed receivables was reclassified to current in the amount of 20X8 installments.
• The initial principal payment of $500,000 and the interest on the debt was paid to bondholders on January 1, 20X8.
Required:
• Identify the type of fund the city should impose to account for this special assessed debt.
• Prepare journal entries for the city’s transactions.
• Identify how the city should report the fund in their financial statements?
• Identify how the city should report special assessed debt in their financial statements? •
Compare the treatments of special assessed debt from the United States with at least two other countries. Would the same reporting practices be used and why?
In: Accounting
Read the details regarding “The Plaza Hotel” and answer the questions below:
The Plaza Hotel is a 20-story luxury hotel and condominium apartment building in Midtown Manhattan in New York City. It opened in 1907 and is now owned by Katara Hospitality. The Plaza Hotel has many services including a butler on every floor, baby-sitting and concierges, a shopping mall, the Palm Court under the restored stained glass ceiling, the Champagne Bar located in the hotel lobby with views of Grand Army Plaza, the Edwardian Room, the Terrace Room, the Rose Club, the Grand BallRoom, The Plaza Food Hall and The Todd English Food Hall Restaurant and Marketplace, as well as meeting rooms and conference rooms. Guests not only come from the 50 states but from all over the world. The hotel scores in the top 5% of the
national benchmark studies in terms of customer satisfaction. The hotel managers analyze the data received through customer questionnaires on a daily basis. Corrective measures are taken without any delay in case of any problems. The Plaza believes that quality improvement is a never ending process and the staff and management are continuously striving to come up with strategies to improve customer satisfaction. When the staff observes some kind of problem, they take care of it themselves; delay in room service is followed by small gifts to the guests, delay in food service is followed by a complimentary dessert and so on. Katara Hospitality keeps a check and balance on the hotel’s performance. Different areas are monitored, compared to a selected standard and the feedback report is shared on a monthly basis with the hotel. Automated inventory system is used for inventory management. Whenever an item is removed from the inventory for customer use, the item is automatically billed to that account, and usage is noted at the main supply area. Supplies are delivered on a Just-in-time basis to keep the costs low and to avoid any quality related problems. From their one-of-a-kind Eloise Suite, to their ultra-luxurious Penthouse Suites, The Plaza’s unparalleled accommodations are as unique as they are elegant. Their spacious guest rooms offer classic appointments and furnishings as can only be expected from New York’s most legendary address. Their contemporary Legacy Suites offer beauty in every detail, some suites with striking partial views of Central Park, outdoor terraces, and connecting rooms. Pareto charts and flowcharts monitor processes and facilitate the management in spotting problematic areas graphically. The philosophy that customers come first is taught to all the employees at the very first day of their orientation. The guards at the gates or the waiters in the hallways will never be heard commenting on each other’s personal lives or discussing confidential issues. This quality culture at the Plaza hotel makes the hotel visit a warmer and more comforting experience for the guests.
a. What TQM concepts and tools have been employed by the Plaza Hotel? Identify and briefly explain them.
b. What tools would you recommend them that they can use in future and how can they use them?
please solve it in a word doc and be brief
In: Operations Management
Question no.2 (10)
Read the details regarding “The Plaza Hotel” and answer the questions below:
The Plaza Hotel is a 20-story luxury hotel and condominium apartment building in Midtown Manhattan in New York City. It opened in 1907 and is now owned by Katara Hospitality. The Plaza Hotel has many services including a butler on every floor, baby-sitting and concierges, a shopping mall, the Palm Court under the restored stained glass ceiling, the Champagne Bar located in the hotel lobby with views of Grand Army Plaza, the Edwardian Room, the Terrace Room, the Rose Club, the Grand BallRoom, The Plaza Food Hall and The Todd English Food Hall Restaurant and Marketplace, as well as meeting rooms and conference rooms. Guests not only come from the 50 states but from all over the world. The hotel scores in the top 5% of the national benchmark studies in terms of customer satisfaction. The hotel managers analyze the data received through customer questionnaires on a daily basis. Corrective measures are taken without any delay in case of any problems. The Plaza believes that quality improvement is a never ending process and the staff and management are continuously striving to come up with strategies to improve customer satisfaction. When the staff observes some kind of problem, they take care of it themselves; delay in room service is followed by small gifts to the guests, delay in food service is followed by a complimentary dessert and so on. Katara Hospitality keeps a check and balance on the hotel’s performance. Different areas are monitored, compared to a selected standard and the feedback report is shared on a monthly basis with the hotel. Automated inventory system is used for inventory management. Whenever an item is removed from the inventory for customer use, the item is automatically billed to that account, and usage is noted at the main supply area. Supplies are delivered on a Just-in-time basis to keep the costs low and to avoid any quality related problems. From their one-of-a-kind Eloise Suite, to their ultra-luxurious Penthouse Suites, The Plaza’s unparalleled accommodations are as unique as they are elegant. Their spacious guest rooms offer classic appointments and furnishings as can only be expected from New York’s most legendary address. Their contemporary Legacy Suites offer beauty in every detail, some suites with striking partial views of Central Park, outdoor terraces, and connecting rooms. Pareto charts and flowcharts monitor processes and facilitate the management in spotting problematic areas graphically. The philosophy that customers come first is taught to all the employees at the very first day of their orientation. The guards at the gates or the waiters in the hallways will never be heard commenting on each other’s personal lives or discussing confidential issues. This quality culture at the Plaza hotel makes the hotel visit a warmer and more comforting experience for the guests.
a. What TQM concepts and tools have been employed by the Plaza Hotel? Identify and briefly explain them.
b. What tools would you recommend them that they can use in future and how can they use them?
In: Operations Management
Assume that a floating exchange rate system exists between the United States and Brazil. Note that the currency of the United States is the U.S. dollar, while the currency of Brazil is the Brazilian real. Assume that the inflation rate becomes much higher in the United States, relative to the inflation rate in Brazil. Clearly explain how a floating exchange rate system between the United States and Brazil could compound the problem of high inflation in the United States. Use the countries given in the problem (the United States and Brazil) in your explanation. Clearly explain your logic, using graphs when necessary.
In: Finance
The National Hockey League (NHL) has 80% of its players born outside the United States, and of those born outside the United States, 50% are born in Canada. Suppose that n=12 NHL players were selected at random. Let x be the number of players in the sample who were born outside of the United States so that p=.8. Find the following probabilities: a. At least five or more of the sample players were born outside the United States. b. Exactly seven of the players were born outside the United States. c. Fewer than six were born outside the United States.
In: Statistics and Probability