Question 2 Hotels in Singapore are witnessing a rapid growth in average occupancy rate as travel rebounds with the ill reopening of international borders in late April 2022. However, the industry still faces many challenges: (i) A shortage of labour across the sector - from airline staff to inastrucmre workers to trained hotel professionals - has put pressure on the existing workforce. (ii) Severe increase in operating costs brought about by economic headwinds triggered by the Russia-Ukraine conict, and global inationary pressures. (iii) Rapid development in hospitality technology ranging from facial recognition technology to a hotel's self-check-in solution and integrated solutions such as seamless 'ont-ofhouse and back-ofhouse systems, powered by data analytics. These have improved consumer experience and increased their expectation. Failure to adopt these technologies risk losing efficiency and customer loyalty. (iv) Global warming and climate crisis have been hoarding the headlines lately. These have severe implication not only on energy, water, waste and carbon management, but also consumer expectation and behaviour. (v) Whilst recent trends indicate that consumers are returning to hospitality in promising numbers, their expectations are also much higher. To survive, hotels need to adapt to these new market conditions. Required: (a) Dene management accounting. Explain how management accounting can help hotels to recover by creating value for its customers and shareholders. (10 marks) SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 4 of 5 ACC203 Tutor-Marked Assignment (b) Identify the major management accounting systems as described in Chapter 2 of Langeld-Smith et al and explain how these systems can be used for companies in the hotel industry. (20 marks) (c) Explain the ways in which the information of the major management accounting systems can help hotels meet the challenges expected in the post-pandemic hotel industry. (20 marks) (d) Hotel 81 is Singapore's largest, most well-established budget hotel chain with 28 properties located island wide. In its website, Hotel 81 described itself as \"your go-to hotel for awesome rates, comfortable rooms, and accessible locations. Hotel 81 is simplicity at its best with all the conveniences and local discovery at your doorstep\". Describe the types of management accounting information that might assist the management of Hotel 81 in the pursuit of its business or competitive strategy. (10 marks) The total word count for Question 2 should not exceed 1,000 words