Hotel Valuation Software, Version 4.0

[Updated August 2016] The Hotel Valuation Software, freely available from Cornell’s Center for Hospitality Research, has been updated to reflect the many changes in the 11th Edition of the Uniform System of Accounts for the Lodging Industry (USALI). Version 4.0 of the Hotel Valuation Software provides numerous enhancements over the original tool from 2011. In addition to a significant increase in functionality and an update to reflect the 11th edition of the USALI, Version 4.0 takes advantage of the power of the latest release of Microsoft Excel®. Note that Version 4.0 works only on a PC running Microsoft Windows, it does not work on a Mac running OS X. Users desiring an OS X compatible version should click here (Labeled as Version 2.5). 酒店评估软件手册和三个程序（点击这里 ) Users desiring a Mandarin version of the Hotel Valuation Software should click here The Hotel Valuation Software remains the only non-proprietary computer software designed specifically to assist in the preparation of market studies, forecasts of income and expense, and valuations for lodging property. The software provides an accurate, consistent, and cost-effective way for hospitality professionals to forecast occupancy, revenues and expenses and to perform hotel valuations. Version 4.0 of the Hotel Valuation Software includes the following upgrades – a complete update to reflect the 11th edition of the USALI – the most significant change to the chart of accounts in a generation, an average daily rate forecasting tool, a much more sophisticated valuation module, and an optional valuation tool useful in periods of limited capital liquidity. Using established methodology, the Hotel Valuation Software is a sophisticated tool for lodging professionals. The tool consists of three separate software programs written as Microsoft Excel files and a software users' guide. The tool is provided through the generosity of HVS and the School of Hotel Administration. The three software modules are: Room Night Analysis and Average Daily Rate: Enables the analyst to evaluate the various competitive factors such as occupancy, average room rate, and market segmentation for competitive hotels in a local market. Calculates the area-wide occupancy and average room rate, as well as the competitive market mix. Produce a forecast of occupancy and average daily rate for existing and proposed hotels in a local market. The program incorporates such factors as competitive occupancies, market segmentation, unaccommodated demand, latent demand, growth of demand, and the relative competitiveness of each property in the local market. The program outputs include ten-year projections of occupancy and average daily rate. Fixed and Variable Revenue and Expense Analysis: The key to any market study and valuation is a supportable forecast of revenues and expenses. Hotel revenue and expenses are comprised of many different components that display certain fixed and variable relationships to each other. This program enables the analyst to input comparable financial operating data and forecast a complete 11-year income and expense statement by defining a small set of inputs: The expected future occupancy levels for the subject hotel Base year operating data for the subject hotel Fixed and variable relationships for revenues and expenses Expected inflation rates for revenues and expenses Hotel Capitalization Software: A discounted cash flow valuation model utilizing the mortgage-equity technique forms the basis for this program. Values are produced using three distinct underwriting criteria: A loan-to-value ratio, in which the size of the mortgage is based on property value. A debt coverage ratio (also known as a debt-service coverage ratio), in which the size of the mortgage is based on property level cash flow, mortgage interest rate, and mortgage amortization. A debt yield, in which the size of the mortgage is based on property level cash flow. By entering the terms of typical lodging financing, along with a forecast of revenue and expense, the program determines the value that provides the stated returns to the mortgage and equity components. The program allows for a variable holding period from four to ten years The program includes an optional model useful during periods of capital market illiquidity that assumes a property refinancing during the holding period

Comparação técnica da conceção/solução de projetos de climatização para um hotel rural

Trabalho Final de Mestrado para obtenção do grau de Mestre em Engenharia com a Especialidade em Energia, Climatização e Refrigeração

Hotel industry: An answer to the emerging trends on the global demand side of tourism

This dissertation studies essentially how Millennials are changing the hotel industry, in the sense that new trends are emerging with this generation and hotels need to respond accordingly, in order to survive within their competitive industry. Emphasis is also given to Asian travellers, as the enlargement of these countries’ middle class populations is predicted, therefore making Asian travellers a valuable target for the hotel industry. To successfully target this segment, hoteliers need also to consider the cultural differences and aspirations that come together with the Asian travellers, and appropriately adapt their offer to them. I will then redirect this study to the city of Lisbon, the Portuguese capital, to analyse if Lisbon’s four and five-star hotel managers are aware of the new market trends, and to understand how they are changing their hotels in order to make them more attractive to Millennials and Asian travellers. Using a sample of 12 hotels (four and five-stars ratings), I have concluded that, although there is a notable undergoing process of adaptation to these guests, there is a long way ahead in order for Lisbon’s hotels to entirely please and retain millennial guests.

Plan de mercadeo para el Hotel Campestre: La Margarita. Ubicado en el municipio de Nimaima – Cudinamarca

En el trabajo de grado se realiza un análisis del mercado y se propone una planeación estratégica para el Hotel Campestre La Margarita, ubicado en Nimaima – Cundinamarca, con el propósito de aumentar los indicadores de rentabilidad para sus propietarios, con base a un Plan de Mercadeo que permita identificar factores claves de éxito y estrategias para lograr el posicionamiento deseado en los mercados objetivos.

Análisis estratégico del sector hotelero para el Hotel Tequendama en Bogotá

Este documento presenta un estudio del sector hotelero en Colombia, específicamente en Bogotá, donde se identificó la situación actual del mismo y cómo influye en el desarrollo de la economía y en los hoteles. Seguido a esto, mediante la realización de cuatro pruebas no económicas (análisis de hacinamiento, panorama competitivo, análisis estructural de fuerzas del mercado y estudio de competidores), que corresponden al Análisis Estructural de Sectores Estratégicos (AESE), permitió que el Hotel Tequendama (hotel de estudio) reconociera sus fortalezas y debilidades en comparación con sus competidores en pro de identificar las oportunidades que no se están atendiendo dentro del sector.

A importância da marca no Turismo : o Rebranding do Sana Sesimbra Hotel 4****

A dinâmica do mercado actual em constante mutação torna-o cada vez mais exigente, obrigando as empresas a acompanhar de forma constante todas estas mudanças rápidas e muitas vezes inesperadas. É neste contexto que a questão do valor da marca se torna essencial para as organizações. De forma a criar uma imagem positiva na mente dos consumidores é necessária uma gestão rigorosa da marca, cabendo aos gestores a responsabilidade de criar uma estratégia de posicionamento tendo como base a oferta de um benefício junto de todos os seus públicos-alvo, cumprindo sempre uma promessa. A marca é assim um sinal que pode representar um benefício ou uma missão de determinada empresa, distinguindo os seus produtos e serviços das empresas concorrentes. A presente dissertação expõe a concepção de um projecto real de desenvolvimento e implementação de uma estratégia de reposicionamento levada a cabo por uma organização ligada à hotelaria, tendo como objectivo a sua avaliação crítica. Esta será analisada através de apoio bibliográfico sobre a temática assim como através de entrevistas realizadas aos responsáveis do grupo e documentos por eles fornecidos. De forma a contornar a limitação do estudo sobre a impossibilidade de reunir dados primários por conta da autora, colaboradora na empresa em estudo, será analisado um site através do qual se poderá observar o grau de satisfação dos clientes antes e depois da implementação da nova estratégia. Este estudo permitirá concluir se a implementação está a ser realizada de forma correcta e de que forma poderão ser corrigidas posteriormente as anomalias ou melhorados alguns aspectos.

An analysis on human personality and hotel web design : a Kohonen network approach

Having an eye catching and attractive website could help hotels to compete in the vigorous online market. This study attempts to examine the relationship between human personality and the web design preferences. Kohonen Networks were adopted to cluster people with similar personality characteristics and identify their differences on web design preferences. Empirical results indicated people with similar personality traits have similar design preferences. For example, to attract those who got high scores in agreeableness, conscientiousness and openness but low score in neuroticism, a web page should start with a language selection page with introductory movie, one large image on the web page showing hotel interior design with hotel guest in the photo, and with background music.

Spring 1883: Art Fair at the Windsor Hotel

Exhibition of three works by Patrick Pound as part of the Spring 1883 exhibition. Art works entitled: 'Spring Street' a collection of vintage postcards each showing the street the exhibition hotel is located on, the 'Collector' a collection of John Fowles' novel the 'Collector' in numerous editions, and 'The Apartment' a collage of a derelict apartment block. These works were exhibited by Hamish McKay Gallery.The brainchild of Melbourne gallerists Vasili Kaliman (Station), Geoff Newton (Neon Parc), and Vikki McInnes (Sarah Scout Presents), SPRING 1883, the exhibition took place at Melbourne’s historic Hotel Windsor from August 14-17, 2014.The fair drew on the traditions of New York’s hotel-based Gramercy Park Fair and presented the best of contemporary art practice from Australia, New Zealand, Europe, and the United States.“Providing a boutique site for dialogue and interaction between galleries, artists and collectors, the fair will create a new energy for the contemporary art market in Australia”

Mujeres y trabajo urbano : el caso de las mucamas de hotel (Mar Del Plata, 1960-1980)

A partir del análisis de un caso particular, como lo es el trabajo de las mucamas de hotel en la ciudad de Mar del Plata (entre las décadas de 1960 y 1980), el presente artículo se propone como una contribución al campo de estudios sobre el trabajo urbano femenino. En Mar del Plata, el impulso del turismo de masas a mediados del siglo XX fue acompañado por un importante desarrollo hotelero. Éste supuso una atractiva y amplia oferta de trabajo para hombres y mujeres que encontraron allí una forma de acceso al mercado laboral, principalmente durante la temporada estival. En este espacio, las mujeres se han concentrado en puestos de trabajo determinados. En el artículo observamos cómo las continuidades entre algunas de las labores desarrolladas en el hotel y el trabajo doméstico no remunerado contribuyeron a su feminización e indagamos en las implicancias que conllevó que un empleo presente importantes continuidades con dicho trabajo. El análisis de testimonios orales nos permitió un acercamiento a las experiencias de las trabajadoras y, junto a las sentencias de los Tribunales de Trabajo, contribuyeron a visibilizar los procesos (sociales, culturales y económicos) que intervienen en la generización del trabajo y en la segregación ocupacional que caracteriza al mercado de trabajo urbano.

Parametric & nonparametric approaches to event studies: an application to a hotel’s market value

The main objective of this paper is twofold: on the one hand, to analyse the impact that the announcement of the opening of a new hotel has on the performance of its chain by carrying out an event study, and on the other hand, to compare the results of two different approaches to this method: a parametric specification based on the autoregressive conditional heteroskedasticity models to estimate the market model, and a nonparametric approach, which implies employing Theil’s nonparametric regression technique, which in turn, leads to the so-called complete nonparametric approach to event studies. The results that the empirical application arrives at are noteworthy as, on average, the reaction to such news releases is highly positive, both approaches reaching the same level of significance. However, a word of caution must be said when one is not only interested in detecting whether the market reacts, but also in obtaining an exhaustive calculation of the abnormal returns to further examine its determining factors.

The impact of regulation and ownership structure on market orientation in the tourism industry in China

The nature of market orientation and its impact on business performance and other related outcomes have been extensively researched in a range of service contexts including tourism. In contrast, our understanding of the factors that influence market orientation is still limited. This paper reports on a study that contributes to our understanding of the determinants of market orientation within the tourism sector by focusing specifically on the role played by two strategically important variables, namely government regulation and ownership structure. The study analyses two national samples of hotels and travel services in the rapidly growing tourism industry in China. The hotel sector has been open to foreign investment for two decades and has a diversified ownership structure, whereas the travel services sector has been dominated by government owned firms and relatively closed to foreign investment. The results of the survey suggest that of the two new antecedents, only government regulation has a significant role to play in driving market orientation. Internally, access to appropriate managerial and marketing capabilities was identified as a significant predictor of the development of market orientation.

Information Technology Trends: Impact on Hotel Corporations

Hospitality organizations are embracing technology in all its aspects to ensure that they can effectively compete in today's market The author cites the results of a survey of corporate executives designed to assess how technology is affecting their organizations.

Japanese, U.S Tourists: Hotel Selections

The author reports the results of an exploratory study concerning the importance placed on attributes of hotel selection by Japanese and American guests and cultural differences between these two groups, which represent the largest market for Korean international tourist hotels. The findings suggest that Hofstede's (1960) four dimensions of cultural values can be used to help marketers better understand their guest's hotel selection criteria.