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business
management in the hospitality industry

Questions and Answers of Management In The Hospitality Industry

What are the three major steps in using the income capitalization approach to valuing hospitality real estate?
How could the sales comparison approach be useful in valuing hospitality real estate?
What are the five basic steps in the cost approach?
Why is the income approach preferred for appraising hospitality real estate?
What are the three major approaches used in appraisals?
What are the seven steps of the valuation process?
What are three uses of appraisals?
Roger Case has asked for your advice on which of two lodging properties he should purchase. The Northgate Inn is in the western part of the state and the Southport me is in the eastern part of the
Strategic Lodging Investments has gathered data on two hotels, the Eastbrook Towers (ET) and the Westwood Inns (WI). Both properties have 200 rooms and a daily occupancy rate of 72%. The ADRs by
John M. Smith is considering the purchase of either the Seaside resort or the Desert Inn & Suites. He has gathered the following information on the two properties:Desert Inn &Seaside Resort Suites
Sweetwater Investments is considering branching out into the lodging industry. They have asked the Wolverine Consulting Group to provide them with a list of the key characteristics of a lodging
Ken Wallace has been successful in developing lodging properties in the Atlanta area. He is considering building a new hotel with 300 rooms in the Midwest western town of Hannibal.His research has
A 250-room hotel is planned for the southwestern United States. The total cost of $20,000,000 is distributed as follows:Land $ 1,000,000 FF&E 2,000,000 Building 16,500,000 Pre-opening expense 500,000
As a managing partner of the Spartan Consulting firm, you are responsible for putting together the information provided by your consultants’ fieldwork. One of the major projects your office is
Bill Valler is considering investing in a new restaurant but is concerned about the potential profitability. He provides you with the following information:1. The 100-seat restaurant would be open 3
Pete Donelli has received an economic study from Consultants, Inc., for the 200-room hotel he wants to construct. The projections show the following for the rooms department:20X1 20X2 20X3 20X4 20X5
You have been asked to forecast revenues for the Kenwood Hotel and Restau- rant, a 100-room lodging property with an average daily occupancy of 75% and an average daily rate by market segment as
A proposed food service facility in Countryville will have 100 seats and be open for breakfast, lunch, and dinner, Monday through Saturday. The owner believes its seat turnover (ST) by meal period
As a consultant for the Feasibility Company, you are to estimate the undersupply of rooms for the greater Remington area. Remington has five hotels with current occupancies as follows:Hotels Number
Wayne Jules is considering investing in a new hotel in the southeastern United States. You are asked to assist him in determining the number of new hotel rooms that could be supported by the area
Wanda Spencer, a consultant for Seedland Consultants, determines that the average daily occupancy for Center Town’s five lodging facilities with a total of 1,000 rooms is 70%. She forecasts an
Tysen McCarthy wants to develop a plot of real estate he owns in Middleville.He is interested in knowing the current average occupancy of competitive hotels in Middleville.Research reveals the
What are the limitations of a lodging feasibility study? How can one reduce the impact of any of these limitations?
What are the major characteristics of a market area that are generally included in a lodging feasibility study report?
What are the major purposes of the introduction of a lodging feasibility study report?
What are the major sections of a lodging feasibility study report?
What are the different phases of a detailed work program for a lodging feasibility study?
What are the differences between internally and externally prepared lodging feasibility studies?
How is “fair share” calculated and what does it mean?
What are the major differences between demand analysis and lodging feasibility studies?
Who are the users of feasibility studies?
What are the major purposes of a feasibility study?
New Castle Management Company has offered to operate the Pines Inn under the following contract:4% of room revenue, plus 2% of all other revenue, plus 15% of IAUOE Assuming a 10% cost of capital,
Ron Checky has just won the state lottery and is considering investing his winnings in a hotel and hiring a management company to operate the prop- erty. He expects room revenues to be $9,000,000 in
The owner of the Cast-A-Shadow Inn, Michael Castashadow, decided to hire a management company to run his hotel. The inn currently has 200 guest rooms.The annual revenue for the next 3 years is
1. Using the data from Problem 17.11, calculate the management fee based on the following three options:a. Basic fee of 2.5% of gross revenue plus 10% of IAUOEb. Basic fee of 3.5% of room revenue,
Robert Nemeth has owned and operated a lodging operation of 300 rooms for several years and has an opportunity to sell and manage it. Your assignment is to review this opportunity and advise him. You
The Muhling Motel’s owners have decided to have Servco, Inc., manage their hotel. The management fee arrangement would be as follows:1. Basic fee: 5% of gross sales 2. Incentive fee: 15% of IAUOE.
The L & V Inn’s owner-manager, Sally Van, has been approached by an investor interested in buying her hotel for $2,000,000. The existing mortgage is $500,000. The investor would like Ms. Van to
The Hillside Hotel’s owners have decided to have Managers Supreme, Inc. (MSI)manage their hotel. The management fee arrangement would be as follows:1. Basic fee: 4% of gross sales 2. Incentive fee:
Ed Louton, the owner-manager of a 300-room franchised hotel, is considering retiring and having Manage, Inc., operate his hotel. The hotel’s annual revenues for next year (19X0) are forecasted to
Betty Petonquot is considering selling her motel or having Woods Management operate it for the next 10 years. She could sell it today for $2,000,000. It is fully depreciated with a zero net book
Tonda Kelly, president of Kelly Corporation, is attempting to decide between three management arrangements for a 100-room budget hotel. Three potential levels of daily room occupancy and average
M. J. Fields wants to retire from operating his 200-room Fields Hotel. He is con- sidering contracting a management company to operate his hotel. He projects selected annual operating figures as
Wesley Horn, owner of Horn’s Inn, has recently decided to have Service, Inc., manage his lodging property. Horn’s Inn has 150 guestrooms and a 100-seat coffee shop. The average annual revenue is
John Rogers is interested in investing in a hotel; however, he has no interest in managing one. He has heard of management companies, but does not know what they do. He has come to you for investment
What are the major advantages to a lodging company of having management contracts?
What major factors favor an owner during contract negotiations?
What major factors favor an operator during contract negotiations?
Which post-opening management fee structure is preferred from both operator’s and owner’s viewpoints? Why?
What are the differences among the three major types of management fees?
What must the owner provide in order for the operator to manage the lodging facility?
Which major responsibilities of operators must generally be approved by the owners?
What are the four major reasons for growth in management contracts?
What is the difference between the two major classifications of operators?0
What are the major classifications of owners and operators of lodging management contracts?
Klinger’s Toledo Inn has achieved moderate success for the past 5 years. It had an ADR this past year of $60 and paid occupancy of 60%. He wonders if his rooms-only lodging facility with 100 rooms
David Glossop has operated the 100-room, rooms-only Jonathan Inn in northwestern Ohio for several years as an independent property. However, several franchised properties have been built nearby in
This problem is a continuation of Problem 16.12. Marlene Convis would like to know the gross room revenues, total franchise costs, and the total franchise costs as a percentage of gross room revenues
Marlene Convis has the funds to build a 200-room lodging facility. She is con- sidering a franchise with any one of the franchisors listed in Exhibit 16.3. She provides you with the following
Dorothy Goldman's Star Inn has achieved moderate success for the past 5 years, as it had an ADR in year five of $60 and paid occupancy of 75%. Yet she wonders if her rooms-only lodging facility with
Salli Farhat has decided to invest in a lodging property, but has come to you for your recommendation for a franchise. She indicates that her desire is to sign with a company whose franchisee fees
Nathan Gillmore is considering two franchise opportunities for a 100-room suite property. He believes each firm offers about the same services and will sign with the firm that has the lowest
This problem is a continuation of Problem 16.7. Assume additional annual costs (other than those addressed in Problem 16.7) for the two franchise options as follows:Dr. Taco Taco Ring Labor costs*
Rudy Escobar is considering investing in a fast-food restaurant. He has narrowed his options to two franchises, both Mexican fast-food restaurants. The financial terms of the first, Dr. Taco, are as
Peirui Tan is considering two franchise opportunities for a 300-room lodging operation. The expected ADR, occupancy, and franchise costs are as follows:Bilton Wyatt ADR $150 $120 Occ. % 65%
Jessica Hallbert has decided on a Holiday Inn franchise. She believes that her 150-room lodging operation will be able to achieve an average occupancy of 65% and an ADR of $75.Note: See Exhibit
Greg Pratt desires to purchase a restaurant franchise from Taco Corporation. The costs associated with the franchise are as follows:Initial fee: $15,000 Monthly royalty: 4% of gross sales Advertising
Doug Dezotell desires to purchase a hotel franchise from Friendly Inns. The costs associated with the franchise are as follows:Initial fee: $150 per room with a minimum of $12,500 Monthly royalty: 3%
Jerry Wills is considering a franchise with Quality Inns. Assume the lodging operation will have 200 guest rooms. Assume an average annual occupancy of 70% and an ADR of $80.Note: See Exhibit
Hee Lee is considering two food franchises. The annual gross sales of his food service operation is expected to be $1,200,000, and he desires to minimize his royalty and advertising marketing fees
What are several major provisions of a franchise agreement?
What are three approaches to resolving franchisee-franchisor disputes?
What are three major complaints franchisors have of franchisees?
What are the drawbacks to the franchisor of franchising?
What is the relative risk of a franchised operation compared with an independent enterprise?
What are the major costs to the franchisee of a franchise?
What are the major benefits to the franchisee of a franchise?
What are the different types of franchises?
How is franchising a form of financing, marketing, and management at the same time?
1. How competitive do you think most hospitals are today?
2. What does quality mean to you? To your organization?
3. As a healthcare consumer, do you believe you can objectively find quality measures on your physicians and hospitals? Why or why not?
4. If you were the CEO, what would you do differently to ensure higher quality?
5. Will the concept of zero defects ever be a reality in healthcare?
1. What are the core components of performance management?
2. How does your organization’s strategy impact the type of performance improvement projects you work on?
3. What level of difficulty should you use when setting goals and objectives?
4. Which type of performance indicator do you feel is the most important in healthcare?
1. What does DMAIC stand for?
2. What is the difference between a process of care, structure, and outcome quality measure?
3. Why is the concept of sigma and deviations so important to process control?
4. How does the type of issue your organization faces impact the choice of performance improvement methodology?
5. How is value stream mapping different from process flowcharting?
1. Why is a business concept important for creating a new quality function?
2. How would you approach management to propose a new department?
3. Which organizations would you choose to benchmark against? How would you find them?
4. Is your organization a learning organization?
5. What elements you would suggest go on an organization’s performance scorecard?
1. How should you decide which project to take on in your organization?How do you set those priorities?

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