HFT 3253 HFT 3253
Popular in RHM Lodging Operation Management
Popular in Resort and Hospitality Management
This 3 page Class Notes was uploaded by Dakotah Tucker on Thursday September 22, 2016. The Class Notes belongs to HFT 3253 at Florida Gulf Coast University taught by Dr. Marcia Taylor in Fall 2016. Since its upload, it has received 5 views. For similar materials see RHM Lodging Operation Management in Resort and Hospitality Management at Florida Gulf Coast University.
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Date Created: 09/22/16
Class Date: 8/23/16 Lodging Operations Management Understanding the Hotel Industry Multiple Affiliations for a Single Hotel o Chain Hampton Inn o Parent Company Marriot o Operation: Corporate, Franchise, or Independent o Management Company o Owner o Asset Management Company o Membership of Marketing Groups Best Western U.S. Hotel Industry o 2015 Statistics (STR) # of rooms 5.0 million # of properties 53,432 Occ. % 64.4 ADR $115.02 RevPAR $74.12 Sales Revenue $176 billion Labor cost 42.8% - # of rooms in Florida 406,000 (PKF) 2014 New “Quasi Chains” o The following chains are examples of this new phenomenon: Autograph and Edition by Marriot Luxury Collection by Starwood Andaz by Hyatt Ascend by Choice The Lodging Industry The Hotel Industry o Same challenges and opportunities as shared by individuals that manage a community o Challenge of approaching daily tasks with the determination to create unique experience Hotel Management o Tied to the elegant image of hotels and the prestige associated with being a general manager or vice president o A complex balancing act that involves keeping employees, customers and owners satisfied, while overseeing a myriad of departments What is the Hotel Business o How hotels count and measure A cyclical industry – go through wide swings Occupancy – percentage of occupancy – measures the share of the market Sales per occupied room – quality of the business being done (ADR) RevPAR o Special characteristics of the hotel business Breakeven point Perishability Fixed supply – forecast demand High operating costs Seasonality The Environment of the Hotel Business o Separate business – profit center o Very competitive industry o Labor intensive businesses where many employees provide service for many guests, and the service they provide is personal in nature o Fast-paced, multifaceted operations The Pace of the Hotel o Open for business 8760 hours per years o Unpredictability of problems o The immediacy of problem Types of Hotels o Full service o All-suites o Select service o Limited-service o Extended-stays (guests usually stay 7+ days) o Luxury Ritz Carlton o Upper upscale Hyatt Regency o Upscale Hilton o Upper midscale o Midscale o Economy Market Orientation/Location o Residential o Commercial o Convention o Suite o Resort o Bed and Breakfast o Time-share o Casino o Conference center o Boutique and Trophy o Yotel (Started in Japan; like a pod) o Free ways o Downtown o Suburban o City hotels o Airport o Share industry (AirBnB) Classification o Hotel size – small (1-150); medium (151-400); large (401- 1,500); mega (1,501 and over) o Quality of facilities and services – AAA (Diamonds), Forbes (Stars) o Comparative statistics – number of rooms, Rate, Geographic location o Types of services provided to the guest
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