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Summary Slide

Summary Slide. Modern Hotel Innovators Lodging Management Associations Hotel Revenue Sources Profit Margin – Room Cost Profit Margin – Food Cost Opportunity Cost Captive Audience Quotient Internet Exercises Hotel Web Sites. Figure 1-1. Modern Hotel Innovators. Ellsworth Statler

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Summary Slide

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  1. Summary Slide • Modern Hotel Innovators • Lodging Management Associations • Hotel Revenue Sources • Profit Margin–Room Cost • Profit Margin–Food Cost • Opportunity Cost • Captive Audience Quotient • Internet Exercises • Hotel Web Sites Figure 1-1

  2. Modern Hotel Innovators • Ellsworth Statler • Conrad Hilton • J. W. Marriott • Kemmons Wilson • Jay Pritzker • What three innovators emerged at about the same time in history? Figure 1-2

  3. Lodging Management Associations • Owner-operated • Owner-managed • Independent • Franchised • Management contract • What are the similarities and differences between franchising and management contract? Figure 1-3

  4. Brand Recognition CRS National Marketing Support Standard Operating Procedures Lodging Management Association Shared Benefits Differences • Greater Quality Control • Higher Fee to Owners • Less Owner Control • Higher Employee Standards • Higher Performance Expectations • Less Quality Control • Lower Fee to Owners • Greater Owner Control • Varying Levels of Employee • Experience and Training Franchising Management Contracts Figure 1-4

  5. Hotel Revenue Sources • Sleeping Rooms • Meeting/Function Space • Outlets/Ancillary • Why is this relationship so important? Figure 1-5

  6. Successful Hotel Equation #1 Selling as many sleeping rooms as possible + #2 Selling meeting/function space to utilize it’s best potential + #3 Maximizing the capacity of the outlets and ancillary profit centers through the selling of #1 and #2 Figure 1-6

  7. Profit Margin • Room Cost Room Rate - Room Cost = Profit Margin Figure 1-7

  8. Profit Margin • Food Cost Food Cost = Purchase Price/Menu Price Figure 1-8

  9. Opportunity Cost • Each night, when a room goes unsold, the hotel loses the opportunity to ever sell it again. A hotel cannot regain that opportunity. • The “Empty Room Theory” states that once a room goes unoccupied, it is gone forever. • Why does opportunity cost differ in catering/outlet food and beverage sales? Figure 1-9

  10. Captive Audience Quotient • Applies to both outlet/ancillary sales and catering sales. • A guest staying at a hotel is more likely, for convenience and other reasons, to choose at least once some outlet of the hotel (if it offer such services). • Catering traffic at a hotel benefits by the captive audience quotient, also called the group catering contribution. Figure 1-10

  11. Chain Histories Internet Exercise • In this chapter histories of Hilton, Marriott, Holiday Inn, and Hyatt were briefly discussed. • Using the Internet (sample URLs are provided following the questions), choose a different hotel chain and obtain any printed materials you can about their beginnings and history. Answer the following questions: Figure 1-11

  12. Chain Histories Internet Exercise • What is the name of the hotel chain you selected? • When was the hotel chain established? • What was the name of the first hotel in the chain? • Where was it located? • Who was the person or persons who started the chain? Figure 1-12

  13. Chain Histories Internet Exercise • How many hotels are now in this chain? • How long has this chain been in operation? • What types of hotels does this chain operate? • Where is the corporate office for this chain located? Has it changed locations? • Has there been any mergers or acquisitions within this chain? Figure 1-13

  14. Chain Histories Internet Exercise • Does this chain have more than one brand in its repertoire? • What unique thing did you learn about this chain that you didn’t know before? • Why did you choose this chain? • Describe the hotel in this chain that you would most like to visit. • Would you like to work for this hotel chain? Why or why not? Figure 1-14

  15. Chain Histories Internet Exercise • Is this chain publicly traded? If so, what is the current stock price? • What is the stock price history during the past 12 months? • What factors have been involved in any fluctuations over the past three years? • What is the current focus of this chain? • What percentage of this chain’s properties are corporately owned? Figure 1-15

  16. Hotel Web Site Home Pages • For this case study, try one of the following web sites: • Accor • http://www.accorhotel.com • http://www.sofitel.com • http://www.novotel.com • http://www.mercure.com • http://www.ibishotel.com • http://www.etaphotel.com • http://www.hotelformule1.com • http://www.motel6.com • http://www.redroof.com • http://www.coralia.com/coralia/gb/index.htm Adam's Mark http://www.adamsmark.com Amerisuites http://www.amerisuites.com ANA http://www.ananet.or.jp/anahotels/e/ Aston http://www.aston-hotels.com Best Western http://www.bestwestern.com Figure 1-16

  17. Hotel Web Site Home Pages Cendant http://www.cendant.com http://www.super8.com/ctg/cgi-bin/Super8# http://www.knightsinn.com/ctg/cgi-bin/KnightsInn http://www.hojo.com/ctg/cgi-bin/HowardJohnson http://www.villager.com/ctg/cgi-bin/Villager http://www.ramada.com/ctg/cgi-bin/Ramada http://www.travelodge.com/ctg/cgi-bin/Travelodge Choice http://www.choicehotels.com Dorint http://www.dorinthotels.com Drury http://www.druryinn.com Elegant Resorts http://www.elegantresorts.com Fairmont http://www.fairmont.com http://www.cphotels.com/cp.asp?loc=corp Figure 1-17

  18. Hotel Web Site Home Pages Fiesta Americana http://www.fiestaamericana.com Four Seasons http://www.fourseasons.com/index.html Golden Tulip http://www.goldentulip.com Harrah's http://www.harrahs.com/home/home.html Hilton http://www.hilton.com http://www.hilton.com/doubletree/index.html http://www.hilton.com/conradinternational/index.html http://www.embassy-suites.com http://www.homewood-suites.com http://www.hampton-inn.com www.redlion.com http://www.hilton.com/hiltongardeninn/index.html Hyatt http://www.hyatt.com Jameson http://www.jamesoninns.com http://www.signature-inns.com/index.htm Loews http://www.loewshotels.com Figure 1-18

  19. Hotel Web Site Home Pages Le Meridian http://www.lemeridien-hotels.com http://www.forte-hotels.com http://www.heritage-hotels.com http://www.posthouse-hotels.com Mandarin Oriental http://www.mandarin-oriental.com/ Metropolitan http://www.methotels.com Nikko http://www.nikkohotels.com Noble House http://www.noblehousehotels.com Manhattan East Suite Hotels http://www.mesuite.com Marriott http://www.marriott.com http://www.renaissancehotels.com http://www.courtyard.com http://www.residenceinn.com http://www.fairfieldinn.com http://www.towneplacesuites.com/js/Default.asp http://www.springhillsuites.com/js/Default.asp Figure 1-19

  20. Hotel Web Site Home Pages Omega http://www.omegaresorts.com/omega_info/index.html Omni http://www.omnihotels.com Outrigger http://www.outrigger.com Park Place http://www.parkplace.com Radisson http://www.radisson.com/RAD/RadissonHome/0,2509,,00.html Red Carnation http://www.redcarnationhotels.com Regal http://www.regalhotel.com/main.html http://www.millennium-hotels.com Ritz Carlton http://www.ritzcarlton.com] Rosewood http://www.rosewoodhotels.com Royal http://www.royalhotels.com Sierra Suites http://www.sierrasuites.com Sholodge http://www.shoneysinn.com Figure 1-20

  21. Hotel Web Site Home Pages Sonesta http://www.sonesta.com/sonesta/sonweb2.nsf Station http://www.stationcasinos.com/home/default.asp Starwood http://www.starwoodhotels.com/ http://www.westin.com/main.taf http://www.sheraton.com/main.taf http://www.fourpoints.com/main.taf http://www.stregis.com/ http://www.luxurycollection.com/main.taf http://www.whotels.com Swissotel http://www.swissotel.com/index.html SRS http://www.srs-worldhotels.com Summit http://www.summithotels.com Figure 1-21

  22. Hotel Web Site Home Pages Super Clubs http://www.superclubs.com Thistle http://www.thistlehotels.com Trump http://www.trump.com US Franchise Systems http://www.usfsi.com http://www.microtelinn.com http://www.hawthorn.com http://www.bestinn.com Walt Disney World Resorts http://asp.disney.go.com/disneyworld/db/seetheworld/resorts/index.asp Warwick http://www.warwickhotels.com Wyndham http://www.wyndham.com/default.cfm http://www.summerfieldsuites.com Figure 1-22

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