The Dow Jones Travel Index reported what business travelers pay for hotel rooms per night in major U.S. cities. The average hotel room rates for 20 cities are recorded.

(e) Which measure of the spread (interquartile range & standard deviation) is better to use here? Briefly justify your answer with a graph generated with StatGraphics. [3]

(f) Determine if there is/are any outlier(s) in the data using the IQR approach. Make sure show all your work. [3]

Analyse the relationship between bond prices and interest rates during recession. (4m) (250 words)

An investor estimates that next year’s net income for Hilary Pullman Hotel would be RM 8 million. The company has 0.5 million shares outstanding and decided to pay RM 0.5 million to the preferred stockholders from its net income. Listed companies similar to Hilary Pullman Hotel have been recently reported to have an average price/earnings ratio of 4 times. Given the information, calculate the expected price of the stock and evaluate the problems in using Price/earnings ratio method of valuing the shares of a company. (6m)

1. A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels with a sample standard deviation of $72. Construct a 95% confidence interval and report the lower bound for the interval. (Answer to one decimal place and do not include a $ sign).

2.A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels with a sample standard deviation of $72. Construct a 95% confidence interval and report the upper bound for the interval. Your number should be larger than for the previous problem. (Answer to one decimal place and do not include a $ sign).

(a) Explain the following statement under the Malaysian Contract Law : “Consideration must be sufficient but need not be adequate.”

(b) Budget Travels, booked Hotel Kedekut for a 2 day health event for their staff. All the itinerary and the food to be served were confirmed already. The chef of Hotel Kedekut, who knows the manager of Budget Travels, Michael, very well has decided to make pastries and cupcakes for the health event on his own. The event was a success and Michael, being very delighted, promised to pay for the pastries and cupcakes to the chef on behalf of Budget Travels but in the end he didn’t do so. Is Budget Travels under an obligation to do so?

(Total :20 marks)

The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer.

Required:

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)

2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

• Systematic factors like guests, switching off fans and lights.unanswered
• Number of days present in a month.unanswered
• Income taxes paid on hotel income.unanswered
• Seasonal factors like winter or summer.unanswered
• Fixed salary paid to hotel receptionist.

Exercise 5A-1 High-Low Method [LO5-10]

The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer.

Required:

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)

2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Systematic factors like guests, switching off fans and lights.unanswered

Number of days present in a month.unanswered

Income taxes paid on hotel income.unanswered

Seasonal factors like winter or summer.unanswered

Fixed salary paid to hotel receptionist.

Patricia Johnson is the sole owner of Crane Vista Park, a public camping ground near the Crater Lake National Recreation Area. Patricia has compiled the following financial information as of December 31, 2020. Revenues during 2020—camping fees $186,228 Fair value of equipment $186,228 Revenues during 2020—general store 86,463 Notes payable 79,812 Accounts payable 14,632 Expenses during 2020 199,530 Cash on hand 30,595 Accounts receivable 23,278 Original cost of equipment 140,336 (a) Determine Patricia Johnson’s net income from Crane Vista Park for 2020. Net income $enter Net income in dollars (b) Prepare a balance sheet for Crane Vista Park as of December 31, 2020. (List Assets in order of liquidity.) CRANE VISTA PARK Balance Sheet choose the accounting period Assets enter a balance sheet item $enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a closing section name for this part of the balance sheet $enter a total amount for this part of the balance sheet Liabilities and Owner’s Equity select an opening name for section one enter a balance sheet item $enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for section one enter a total amount for this section of the balance sheet select an opening name for section two enter a balance sheet item enter a dollar amount select a closing name for this part of the balance sheet $enter a total amount for this part of the balance sheet

Jameson’s hotel group prepares published accounts on a quarterly basis. The senior management is reviewing the performance of one of the hotels in the group and making plans for 2018/19. They have in front of them the results for 2017/18 (based on actual results for the first two quarters and forecasts to the end of the year).

Quarter Sales Profit/(loss)
1 400,000 (280,000)

2 1,200,000 360,000

3 1,600,000 680,000

4 800,000 40,000

The total estimated number of visitors (guest nights) for 2017/18 is 50,000. The results follow a regular pattern, with no unexpected cost fluctuations beyond the seasonal trading pattern. Management intend to add to their plans for 2018/19 an anticipated increase in unit variable costs of 10% and a profit target for the hotel of $1 million.

Required: (a) Determine the total variable and total fixed costs of the hotel for 2017/18, by using both a PV chart and by calculation. (b) i. If there is no increase in visitors for 2018/19, what will be the required revenue rate per hotel visitor to meet the profit target? ii. If the required revenue rate per visitor is not raised above the 2018/19 level, how many visitors are required to meet the profit target? (c) Outline and briefly discuss the assumptions underlying the accountants’ typical PV or break-even analysis and assess whether they limit its usefulness.

Note: In order to achieve full marks for this question it is essential that you fully explain what you are doing, why you are doing it and the steps involved in providing a final solution. Ensure your answer is not just a set of calculations as 25% of the marks for this question are set aside for your explanation.

Write psuedocode and Java code using JOptionPane

Scenario: ABC Resort and Hotel has approached you to write a program to keep track of the number of rooms needed for an event. Customers can request any one of the following types of rooms to be reserved. Because the hotel has limited rooms available for a given event, it can only reserve up to 39 rooms. However, the hotel does not know how many rooms, in total, will be reserved because the rooms are reserved on demand.

Room Type and Price/per night: Single $79.95, Single Deluxe $99.95, Double $149.95, Double Deluxe $179.95

Create a program for use by the hotel staff to take reservation orders for rooms for an event. All events are single night stay events. So you do not need to worry about the number of nights they are staying. An order occurs when the user enters a room type by name (e.g. Single). Until the user has indicated they are finished entering room types, continue to prompt the user to enter a room type. You must validate the room type, providing an error message and re-prompting the user if an invalid room type is entered. Keep track of the number of rooms that will be reserved for each room type. Once the user has indicated they are finished entering room types, display a well-formatted report containing a list of each room type with its associated price, the number of rooms needed for that room type, the total revenue from all rooms for the event, and the average revenue from a room for the event.

Program must use arrays

Answer all 4 of the questions/topics:

Each response must be at least 200-300 words.

1. Communication

Describe and explain the importance of a good integrated information & communication system. What is the importance of communication between departments and what negative impact can a poor system of communication have for a hotel? Discuss 2 important forms of integrated PMS/Communication systems or examples of data information.

2. Future of Hotels

Imagine the hotel room of the future (10 years from now). What does the room look like? What technologies exist in the room? How does it improve the guest experience? What needs and expectations will the future guest have for Accommodation properties? In light of recent health issues what steps will the Accommodations Industry need to address to gain consumer confidence? What will the long term outcome of the industry be after crisis is cleared?

3. Housekeeping

Discuss the importance of the Housekeeping Department. Why is the Rooms Division the greatest asset of the owners? How will you deal with staffing due to lower occupancy? What steps will housekeeping need to take in order to protect our guests and our staff moving forward after the current health crisis?

4. Guest Service

Describe/Explain the following Service Recovery Model and provide an example from the Accommodation Industry for each section. Remember: As discussed in class we have to assess the Fault & Severity. Following this chart answer the following question: -How will you drive business to your hotel once crisis is over?

How will you attract business to your hotel once crisis is over?