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business
management in the hospitality industry

Questions and Answers of Management In The Hospitality Industry

Analyze your family’s and friends’ recent or upcoming travel plans and compare them with the examples in the text for reasons why people travel.
Discuss the relationship of recreation and leisure to wellness.
Explain the origins and extent of government-sponsored recreation.
Distinguish between commercial and noncommercial recreation.
Name and describe various types of recreational clubs.
Identify the major U.S. theme parks.
Describe the operations of a country club.
Name your favorite park. Share with your classmates why it is your favorite.
Why did Walt Disney really create Disneyland?
Discuss your favorite theme park with your class. Explain why it is your favorite.
What zoo is the oldest in the United States?
Name some rare animals you can find at the National Zoo.
What were the first historic sites visited in recorded history?
Name some important U.S. historical attractions.
What are the goals of the Smithsonian Institution?
Why are theaters, concerts, musicals, and comedy shows regaining importance?
Name all the types of clubs discussed here and briefly describe their functions.
List the important duties of a club manager.
Describe the different types of restaurants, and give examples of each. Highlight some of the characteristics that make up the specific restaurant types.
Watch the video on the Companion Website and describe John Mayer’s typical workday.
From the Companion Website, what is Bonefish Grill’s concept?
Organization: Charlie Trotter Web site: charlietrotters.com/restaurant Summary: Charlie Trotter is regarded as one of the finest chefs in the world. Chef Trotter’s restaurant has received numerous
Organization: Olive Garden Restaurant Web site: www.olivegarden.com Summary: The Olive Garden is a multiunit chain that primarily serves exquisite Italian food. It is currently operated by Darden
On the Companion Website, what advice does John Mayer give students?
Describe the different characteristics of chain and independent restaurants.
Identify some of the top chain and independent restaurants.
List the classifications of restaurants.
Differentiate characteristics of chain and independent restaurants.
From what country did North America gain most of its culinary legacy?
Define fusion cuisine and give an example.
Imagine you are starting your own restaurant. In the process, you realize you need a mission statement. Write a mission statement for your new restaurant.
Define the following terms and briefly describe the role they play:a. Marketb. Conceptc. Ambiance
The target market and concept will, to a large extent, determine the menu price ranges. An example might be a neighborhood restaurant where the appetizers are priced from $3.25 and $6.95 and entrées
Describe the different types of restaurants, and give examples of each.Highlight some of the characteristics that make up the specific restaurant types.
Restaurants offer the possibility of excellent food and social interaction. In general, restaurants strive to surpass an operating philosophy that includes quality food, good value, and gracious
To succeed, a restaurant needs the right location, food, atmosphere, and service to attract a substantial market. The concept of a restaurant has to fit the market it is trying to attract.
The location of a restaurant has to match factors such as convenience, neighborhood, parking, visibility, and demographics. Typical types of locations are downtown, suburban, shopping mall, cluster,
The menu and pricing of a restaurant must match the market the restaurant wants to attract, the capabilities of the cooks, and the existing kitchen equipment.
The main categories of restaurants are independent and chain. Further distinctions can be made as follows: fine dining, casual dining and dinner house, family, ethnic, and quick-service/fast-food. In
What are the five mother sauces?
Name some of America’s finest chefs.
Charlie Trotter is regarded as one of the finest chefs in the world. Chef Trotter’s restaurant has received numerous awards, yet chef Trotter is always seeking new opportunities.(a) What are Chef
Identify a restaurant in your neighborhood and identify its catchment area. How many potential guests live and work in the catchment area?
Search the Web for examples of four great restaurant web sites. Compare them and share your findings in class.
Identify the need for an investment package when seeking approval to spend ownership’s capital or when attempting to raise capital for a new project or business venture.
Determine the components of a professionally prepared investment package.
Describe how an investment package is reviewed and evaluated by ownership, a potential lender, and a potential equity investor.
How much equity is the sponsor group investing in the deal?■ This is a tough question to answer, particularly if your group has a limited amount of capital to invest in the venture or has elected
What annual return on investment (ROI) can I expect to receive, what’s the payback period, what is the net present value (NPV) of the deal, what is my projected internal rate of return (IRR), and
What is the exit strategy?■ This is an important question. An equity investor’s strategy, particularly an equity fund, is often to invest the equity, make a quick killing, and look for another
Develop a fact sheet to be utilized in an investment package for this project.The following is a sample fact sheet for the Condor Hotel. When developing an investment package, always remember that
Calculate the loan-to-value ratio for this project if an appraiser recently valued the property at$6,500,000.$ 4,724,650 divided by $6,500,000 LTV of 73%
Calculate the loan-to-cost ratio.$4,724,650 divided by $6,749,500 LTC of 70%
Calculate the debt service coverage ratio for the first year of this project if the annual debt service payment is $481,000.$481,000 divided by $511,264 DSCR of 0.94
Based solely on the information provided, would you lend money for this project? Why or why not?Based on the proposed LTV, LTC, and DSCR, a lender should not provide a loan for this project. The LTV
Explain the differences between an executive summary and a fact sheet in an investment package.
Describe the items that might be included in a business plan.
What is a third-party confirmation, and why is it important in an investment package?
Who are all the parties that must be included in a project development team? Explain the significance of each.
If you are the sole owner of a project, the lender will normally ask you for your personal financial data. What elements are covered in this category, and why would your lender need to know about
If an independent third party valued your project at $1,000,000 and you are requesting an$800,000 loan, what is the loan-to-value ratio? What are the chances of this loan being approved? What is the
What are three key items that lenders focus on when evaluating an investment package?Explain.
What are three key items that investors focus on when evaluating an investment package?Explain.
ETHICS ✶ After reading the market study from a third-party firm, Ben did not like its negative tone and projected operating results. As Courtlan is his friend and Courtlan works for another firm
EXPLORING THE WEB ✶Search the Internet for firms that perform market studies and appraisals for the hospitality industry. Contact them to find the approximate cost for a market study and appraisal
Is any information missing that should go into an equity investment package? If so, list the information missing.
Calculate the return on investment in Year 1 for an equity investor who provides 45% of the total project cost.
Calculate the internal rate of return for this project with a sale in Year 6.(Utilize the cap rate method for sale price in Year 6.)
Would you invest in this project? Why or why not?
Analyze the source and use of funds information provided. Is there enough information to answer all of the questions asked below? If sufficient information is provided, please respond. If not, what
Analyze the equity structure being proposed. How many limited partnership units are available? If you were the general partner, would you structure the deal in a different way?
Calculate the return on investment in Year 1 for each limited partnership unit if the restaurant earns a net operating income of $425,000. How much money would the general partners earn in Year 1?
What are the skills and responsibilities of a food and beverage director?
Describe a food and beverage director’s day
What is a food cost percentage and how is it calculated?
How is labor cost percentage calculated?
What departments does the food and beverage director oversee?
What are the responsibilities of a food and beverage director on a day-to-day basis?
Explain how the pour/cost percentage is used in a bar to measure efficiency.
What is the difference between banquets and catering?
What does SMERF stand for?
Where do the director of catering and the catering sales manager obtain their information?
What are the various styles used when setting up a meeting room? Give examples of when each style might be used.
The Sunnyvale Hotel is operated by a major hotel management corporation.To ensure guest satisfaction, 300 survey forms each containing sixty-five questions are mailed to guests each month. Usually,
On the Companion Website, what excellent advice does Food & Beverage Director Bob Weil give?
What is Bob Weil’s management style?
Organization: Foodservice Web site: www.foodservice.com Summary: Foodservice.com is a web site that focuses on the foodservice industry. It has links to employment, industry resources, foodservice,
Organization: National Restaurant Association Web site: www.restaurant.org Summary: The National Restaurant Association is an organization devoted to representing, educating, and promoting the
Complete the sample test questions on the Companion Website.
If a casual dining restaurant in a four-star hotel forecasts 100 covers, how many servers, busers, hosts, and assistant managers would you schedule on that particular day? Calculate the labor cost of
Kitchen labor costs are an important ratio used to determine the efficiency of the food and beverage department. The labor cost for a banquet meal is $126.45 and the revenue for the banquet is
Comment on the careers advice section of the Companion Website.
Contact a bar manager in your area. Discuss with him or her how to monitor pilferage and overpouring. Ask what the expected and actual pouring cost percentages are and how the manager deals with any
Visit a hotel restaurant in your area. Make a note of how busy the establishment is. Does it seem to be staffed with the appropriate number of employees? Are guests being served in a timely manner?
What characteristics do the following hotel segments encompass?a. City center hotelsb. Resort hotelsc. Airport hotelsd. Freeway hotels and motelse. Full-service hotelsf. Economy/budget hotels g.
Which other areas ofthe United States are good potential locations for condo hotels and why? In recent years, several new lodging brands have been introduced by leading hotel chains to the market.
Will condo hotels split into various segments like other lodging properties have? In recent years, several new lodging brands have been introduced by leading hotel chains to the market. Among the
On the Companion Website, what advice does Ritz-Carlton General Manager Jim McManemon give hospitality students?
On the Companion Website, what is Robert Steele Ill’s path to hotel general manager? What is it like to be president of the American Hotel and Lodging Association? What advice does he have for
Organization: Hilton Hotels Web site: www.hilton.com Summary: Hilton Hotels Corporation and Hilton International, a subsidiary of Hilton Group pic, have a worldwide alliance to market Hilton. Hilton

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