Foundations of Lodging Management 2nd edition David K. Hayes, Jack D. Ninemeier, Allisha A. Miller. - Solutions

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What has been the experience of the European Union to date with emissions trading?
Consider the following statement: Short selling should be banned because it creates instability in the price of a company’s stock. Do you agree or disagree with the statement? Defend your reasoning.
Explain how an investor might make money in a commodities trade. Then explain how an investor might lose money in a commodities trade.
How do the provincial securities commissions regulate securities markets?
Do you see any similarities in the movement of the various stocks during the same period? For example, did the stocks move up or down at about the same time? If so, do you think the stocks were affected by the same factors? Explain your thinking.
1. What factors determine the market price of a share of stock? Which of those factors were at work in the cases described above which dealt with the issue of stock prices?2. What is the difference between debt and equity financing? Are the situations described above examples of debt or equity
1. After reading this case, what have you learned or what can you say about the role of central banks (i.e., the Bank of Canada, Federal Reserve) in the proper functioning of the economy and the stock market?2. History holds many lessons for individual investors. However, quite often the enthusiasm
Why was progress toward a solution to Greece's problems so slow?
What would happen to individual Canadian consumers or Canadian corporations who consistently spent more money than they earned?
In what ways do the two sources for debt financing differ from each other? How do they differ from the two sources of equity financing?
What is the basic relationship between the amount of risk associated with a project and the likelihood of gains (or losses) on the project? Explain how several financial instruments (GICs, common stocks, preferred stocks, corporate bonds) illustrate this basic relationship.
What factors should be taken into account when deciding on the best mix of debt and equity for a company?
Give two examples of risks that are uninsurable. Why are they uninsurable?
As a risk manager of a large firm, what risks do you think your firms would face? What are the risks for a small firm? What accounts for most important differences?
Go to Sedar.com and find the balance sheets of two corporations operating in the same industry. Determine the relative emphasis each company places on raising money through debt versus equity. Why might these differences exist?
1. Why do investors buy commercial paper? Why did some investors buy non-bank commercial paper?2. How does the commercial paper crisis demonstrate the risk-return principle?3. Explain how problems in the U.S. subprime mortgage market caused difficulties in the Canadian commercial paper market.4.
1. Briefly describe the steps in the risk management process. To what extent does the risk management process focus on detecting employee fraud?2. Assume for a moment that Jerome Kerviel’s bosses knew what he was doing and they went along with it as long as he was making money for SocGen. Assume
1. What is quality? What quality attributes does Posilight possess? 2. The dragons thought that it was a better idea to licence the product than to sell the patent to a manufacturer. Why do you think they took that position?3. Why did the dragons conclude that Posilight had good market potential?
1. What lessons about financing a business can you take away from this video? If there was a second opportunity to make a pitch to the dragons, what advice would you give the owner?2. What do you think of the market potential for this product? Do you think Soakwash has a bright future? Explain. Why
1. What kind of challenges and opportunities are evident when a company decides to go green?2. What is social responsibility? To what extent does “going green” qualify as socially responsible behaviour by a company? Explain your reasoning.3. Consider the following statement: Geothermal heating
1. What does the term “workforce diversity” mean? What are the advantages of a diverse work force? How diverse is the nail salon business?2. What is meant by the term “motivation”? To what extent are motivational factors different for immigrants than for individuals who were born in Canada?
1. What are the various forms of employee behaviour that can be observed in organizations, and what is the impact of the various forms on organizations? Identify the forms of employee behaviour that are evident in each of the three situations described above, and how they affected the organization
1. What is quality? What factors define quality for Montoni’s products? 2. What lessons about valuing a business can you take away from this video?3. What do you think of the market potential for this product? Do you think Nut Free Cookie Company has a future? Explain your answer.
1. What are the four basic types of unemployment? Which type is most pronounced during difficult economic times such as we have been experiencing during the last few years? Which type is most pronounced in periods of rapid technological change?2. What are some of alternative paths that people might
1. What do you think of the approach taken by some marketers in using very direct language (such as menopausal skin) in their ads?2. Explain the basic elements of segmentation, targeting and positioning by using the Louis Vuitton “personal journey” campaign as an example.3. What forms of media
1. How does the Joe Fresh brand of fashion products create value for consumers? What is their value equation?2. Describe the target market for Joe Fresh fashions across various market segmentation variables.3. Explain the concept of brand equity and link it to the growth of the Joe Fresh brand. How
1. Why aren’t POS terminals wiped more often? 2. What actions can retailers take to reduce credit card fraud?3. Consider the following statement: Retail outlets should be required by law to put up signs warning customers that their credit and debit card numbers may be stolen. Do you agree or
What are some factors that could cause a hotel's revenue to increase or decrease at various times of the year?
What are some factors that could cause the occupancy rate for a hotel in a specific location to increase or decrease at various times of the year?
Think about your own hometown. Do you think the majority of visitors to its hotels are leisure or business travelers? List the reasons for your answer.
What is your favorite method of travel for a short trip? For a long trip?
Have you ever used a travel agent? What types of trips do you think most require the help of a travel agent?
When you visit a Web site to reserve a hotel room, what Web site features are most important to you? How do you select the Web site that you visit?
Trade associations want to meet the needs of their members, including those that are social in nature. Identify some activities that you believe would be fun to do with others working in the same field as yourself.
Hotel investors seek strong ROLs through increases in the value of their hotel's real estate, operating profits, or both. What factors in a geographic area do you think make the real estate value of hotels increase or decrease?
In the past, brand names helped travelers feel confident about the quality of hotels they chose. Today, hotel Web sites provide the same type of help. Visit the Web site of one higher and one lower-priced hotel. Do you think the Internet has helped lower-cost brands compete more equally for guests?
What career advancement advantages might a GM who works for a management company have, compared to a GM working for an individual hotel owner? What advantages might the GM gain by working for an individual hotel investor?
Not all hotel owners enter into franchise agreements. Why do you think a hotel owner might choose not to affiliate with a franchise brand?
Brand managers work hard to establish an image for their brand. Consider a hotel brand that is associated with rooms that sell for a high price. What factors might make a traveler want to choose that brand?
Brand managers for economy or budget hotels also work hard to establish their brand image. Consider a hotel brand that is associated with rooms that sell for a very low price. What factors in addition to price might make a traveler want to choose that brand?
Different brands enforce different brand standards. Name three brand standards that would likely vary significantly based upon the system-wide ADR of a brand.
Some lodging industry professionals feel there are now too many different brands. Explain why you do or do not agree with them.
Many guests believe that the brands actually own hotels, when in almost all cases they do not. How does this relationship affect the hoteliers who actually operate hotels?
What do you think would be the definition of excellent service at time of check-in (a) at a motel on the highway and (b) at a full-service Ritz-Carlton hotel? In what ways would they be similar?
Review the six ingredients necessary to develop a quality service system that were presented in this chapter. Assume that you are the manager of a hotel property where guests must very frequently wait in line a long time to check in. Work through a potential solution to this problem utilizing the
Consider the following statement: "The vast majority of all problems in a lodging property are caused by the manager— not by the employees." Do you agree? If you currently hold a job in the hospitality industry, what would your manager think about this statement?
Review the Ritz-Carlton Hotel Company's motto "We are Ladies and Gentlemen serving Ladies and Gentlemen." What impact would that philosophy likely have on the company's line-level employees?
Hoteliers are concerned about commoditization of products and services. What are three things you learned in this chapter that can help you avoid commoditization in a hotel you would manage?
Assume that you are a hotel manager who is very concerned about providing quality guest service. List three critical topics you would discuss in a guest service training session presented to all new employees at the time of their orientation.
Sometimes even very good employees are reluctant to change. Assume, for example, that a specific housekeeping procedure had been utilized for many years at a property. A change is necessary because of numerous guest complaints. What tactics could you, as a manager, use to reduce the employees'
Some managers specialize in one of the four functional areas of management. In which functional area do you think you would do best? Why?
Some hotel owners manage the hotel they own. What are some advantages you would gain by operating a hotel you owned personally? What are some possible disadvantages?
The science of lodging management can be studied and learned. The art of lodging management can be practiced. Which do you think would be most important to your own development as a hotel manager?
Think about a skill you now have. Did you learn the skill by yourself, or did you have a teacher? Did that teacher serve as a role model, a mentor, or both?
Some industry experts say the best general managers have a sales and marketing background. Others believe accounting, front office, food and beverage, or housekeeping experience is most important for a general manager's success. What are two important characteristics you believe successful general
Hotel managers in franchised hotels often find the desires of their property owners are in conflict with the desires of their brand managers. What personal skills would general managers in such situations need if they hoped to satisfy both their owners and the brand's managers? How could they
Excelling at community relations typically requires managers to promote their local geographic areas as well as their hotels. What possible conflicts could you see resulting from such efforts?
Hoteliers who work for a management company often find, as they advance in the company, that they are selected to be promoted to new hotels that are larger or more complex to operate than their current hotel. How do you think the management company would decide which hoteliers within the company
Give an example of a time in your own travel experience when teamwork (or lack of teamwork) by employees in different departments of a hotel directly affected the quality of your stay.
Workplace diversity is a reality in most hotels. What are so specific benefits guests gain from experiencing that diversity? What are some specific benefits gained by the hotel?
Assume that you are a supervisor and direct the work of several teen-aged employees who have worked for you for a few months and the work of several older employees who have worked at the property for several years. What are examples of differences in the way you would provide leadership to these
Assume that you were a new entry-level employee in a hotel. What are some things that you would want your supervisor to do for you during your first few weeks on the job?
Assume that you are the general manager at a hotel. What are five things you would want all recently hired staff members to know regardless of their specific job or department?
Have you ever been treated unfairly in a job that you have held? How did that experience influence how you felt about staying in that job?
The costs related to employee turnover are significant, managers should do what they can to minimize those c In addition to hourly pay, what factors do you think often make an employee leave one employer and seek identical work with another employer? Do you think hotel agers can influence the
Some people consider entry-level positions in the hotel hospitality industry to be dead-end jobs. What is the difference between a dead-end job and an entry-level position in well-managed hotel? How would you respond to someone who stated that all beginning jobs in the hotel and hospitality
There was a brief examination of the legal aspects of ma" ing hotel staff in this chapter. What can you as a hotel ager do to help keep your hotel in compliance with all of changing laws and regulations that would apply to you and your property?
Hotels are not the only businesses that must employ talented employees who are oriented to guest service. Identify three other businesses that employ individuals in a significant guest service role. Could these businesses be a source of employees for a hotel's front office?
The night audit position in a hotel is an important one. What personal characteristics do you believe are necessary for an employee to enjoy the late night/early a.m. work shifts required of such a position?
Some individuals are better than others are at providing quality guest service. Name five personal characteristics you would seek in a person who wanted to be employed at a front office you managed.
Some guests do not understand the need for hotel managers to adjust room rates to meet forecasted demand. How would you respond to a guest who complained about paying more than the average room rate on a night all the hotels in your area forecasted to be a sell-out situation?
Some hotels have greatly expanded the amount of information about guests they maintain in guest histories or profiles. Identify five items of information about a guest that you believe hotels have a legitimate purpose in securing. What information might you, if you were a guest, not wish to share
Interestingly, the restaurant business does not typically offer discounts for large groups. That is, a restaurant generally charges the same prices to those at a table for two as it would for those at a table of 22. In the hotel business, discounts are typically given for group sales of 10 room
Some Internet booking sites operate by letting guests bid for hotel rooms at whatever price the guest is willing to pay. In such cases, guests may not know the hotel they will be reserving at the time of their bid. If the guest's bid is successful nonrefundable reservation is made. If you were
Some hotels believe that self check-in and self check-out by guests will be appealing because it will save the guest time. Other hoteliers believe that guests desire contact with hotel staff during registration and departure. Which position do you take? Does the type of hotel involved help
When guests register at a hotel, they must supply information such as their name, address, and telephone number. Do you believe that hotels have the right to share this data with others, such as with direct mail or advertising companies without the express approval of the guest? Should such data be
Effective marketing increases consumer awareness of a hotel. Selling relates to the personal aspect of client relations. Which of these two activities do you believe is more important in the long-term success of a hotel? Explain your position.
Some in the hotel industry believe that too heavy an emphasis on the STAR report to evaluate a hotel's sales effort has a negative effect. Others defend the STAR report as the only independent way to evaluate a sales team's effectiveness. Identify two positive and two negative aspects of STAR
You have learned that every employee in a hotel is responsible for sales and marketing. Identify three specific activities that each hourly hotel employee can be instructed to undertake to assist in the hotel's sales and marketing effort.
Convention and visitors bureaus (CVBs) receive most of their funding from special taxes levied on hotel guests. What other businesses in a city or region benefit from the efforts of a CVB? Why do you think most communities refrain from as sassing a CVB tax on those businesses?
Some hoteliers believe that the Internet will eliminate the need for travel agents. Do you agree? Explain your position.
In large hotels with a full-time sales staff, hotel salespersons are typically paid a salary and (if their work is superior) a bonus for their work. In many other industries, salespersons are only paid the commissions they earn. Why do you think hotel salespersons are rarely, if ever, paid
The properties selected to be a part of a specific hotel's competitive set will strongly affect how the hotel's sales performance is assessed. Identify at least three hotel characteristics that should be considered when selecting the properties to be included in a hotel's competitive set.
Many hotels find it difficult to hire and retain housekeeping staff. Identify three reasons you believe contribute to this difficulty. What could the general manager of a hotel do to help overcome these obstacles?
In an effort to conserve natural resources and reduce costs, many hotels change sheets and towels in stay-over rooms only when requested to do so by the guest. Identify a positive and negative aspect of this policy.
Some hoteliers feel that room attendants must be able to fluently speak the language of the majority of the hotel's guests to do their jobs effectively. They feel that guest contact is an important role of the room attendant's job, and to converse with guests they must have strong language skills.
Increasingly, some hotel chains (e.g., Hyatt, Lowes, and Accor) are outsourcing their housekeeping operations. What would likely be some advantages of taking such an approach to room cleaning? What are some potential disadvantages of taking such an approach?
In some hotels, abandoned property found by employees is given to the finder after an established period of time. In other hotels, such property is given to designated charities. Identify an advantage and a disadvantage of utilizing the charity approach.
Housekeeping employees (especially room attendants) often have easy access to guests' personal belongings. As a result, some hotels require applicants for a room attendant position to undergo a criminal-background check. Would you implement such a policy at a hotel you manage? Would you require
Housekeeping is a very physically demanding work. Identify five things a hotel's executive housekeeper or general manager could do to make the work of housekeeping employees as physically light (less strenuous) as possible.
Many chief engineers find that maintaining an older hotel is more challenging than maintaining a newer property. Name five areas in a hotel you think might become more difficult to manage as the hotel ages.
Many hotels have implemented aggressive recycling programs. What factors would influence your decision to begin such a program?
For many routine maintenance replacement items, a hotel manager has a choice between doing all of the maintenance at once (such as changing air filters in all guest rooms quarterly) and doing it as needed (such as replacing hot water heater pumps when they stop working). In other cases, such as
In some hotels the cleaning of exterior sidewalks and parking areas is the responsibility of housekeeping. In others it is the responsibility of maintenance. Name three factors that would influence which department you would assign to this important task.
Maintaining food service equipment often requires specialized skill and replacement parts. Name three factors that you would consider before deciding to outsource the preventive maintenance of such equipment rather than performing it in-house.
Water conservation is important in a hotel. List three things you could do as a hotel guest to help conserve water. How do you think hoteliers could inform guests about activities like the ones you listed?
Maintenance staff are often highly skilled at specific building-related trades (e.g., plumbing, electricity, carpentry, or HVAC repair). What are some steps a maintenance chief could under take to ensure that the skills of his or her staff were kept up-to-date?
For major hotel repairs that cannot be done by in-house staff, some hoteliers prefer to establish a relationship with one prime contractor in each field or trade (e.g., plumbing, heating, and electrical) and then employ that contractor as needed. Other managers prefer to solicit competitive bids
Name at least three daily sanitation-related concerns that you would have if you were the general manager of a limited-service hotel offering a complimentary breakfast bar.
Identify at least three specific local-area groups that general managers of limited-service hotels could target for small group meetings sales.

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Foundations of Lodging Management 2nd edition David K. Hayes, Jack D. Ninemeier, Allisha A. Miller. - Solutions

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