Toward A Better Understanding of the Evolution of Hotel Development: A Discussion of Product-specific Lodging Demand

In his essay - Toward a Better Understanding of the Evolution of Hotel Development: A Discussion of Product-Specific Lodging Demand - by John A. Carnella, Consultant, Laventhol & Horwath, cpas, New York, Carnella initially describes his piece by stating: “The diversified hotel product in the united states lodging market has Resulted in latent room-night demand, or supply-driven demand resulting from the introduction of a lodging product which caters to a specific set of hotel patrons. The subject has become significant as the lodging market has moved toward segmentation with regard to guest room offerings. The author proposes that latent demand is a tangible, measurable phenomenon best understood in light of the history of the guest room product from its infancy to its present state.” The article opens with an ephemeral depiction of hotel development in the United States, both pre’ and post World War II. To put it succinctly, the author wants you to know that the advent of the inter-state highway system changed the complexion of the hotel industry in the U.S. “Two essential ingredients were necessary for the next phase of hotel development in this country. First was the establishment of the magnificently intricate infrastructure which facilitated motor vehicle transportation in and around the then 48 states of the nation,” says Carnella. “The second event…was the introduction of affordable highway travel. Carnella goes on to say that the next – big thing – in hotel evolution was the introduction of affordable air travel. “With the airways filled with potential lodging guests, developers moved next to erect a new genre of hotel, the airport hotel,” Carnella advances his picture. Growth progressed with the arrival of the suburban hotel concept, which wasn’t fueled by developments in transportation, but by changes in people’s living habits, i.e. suburban affiliations as opposed to urban and city population aggregates. The author explores the distinctions between full-service and limited service lodging operations. “The market of interest with consideration to the extended-stay facility is one dominated by corporate office parks,” Carnella proceeds. These evolutional states speak to latent demand, and even further to segmentation of the market. “Latent demand… is a product-generated phenomenon in which the number of potential hotel guests increases as the direct result of the introduction of a new lodging facility,” Carnella brings his unique insight to the table with regard to the specialization process. The demand is already there; just waiting to be tapped. In closing, “…there must be a consideration of the unique attributes of a lodging facility relative to its ability to attract guests to a subject market, just as there must be an examination of the property's ability to draw guests from within the subject market,” Carnella proposes.

Employee Tumover: Implications for Hotel Managers

The hotel industry has been experiencing a severe labor shortage in recent years. The need for organizations to attempt to retain current employees has increased as a direct result of this shortage. An area that has not received as much attention in industry literature is to look at what may be the determinants and the predictors of the turnover process. The authors’ discuss the role of specific intentions, reasoned action, and job satisfaction and the implications of these factors for hotel managers.

Hotel Managers Identify Ethical Problems: A Survey of their Concerns

This study identified and examined the concerns of hotel general managers regarding ethics in the hospitality industry. Thirty-five managers were interviewed during and immediately following the economic recession to determine which ethical issues in the hotel industry and at their own properties concerned them the most. Results showed that more people and organizations attempted to renegotiate hotel rates, which actions, in turn, led to some lapses in ethical behavior. Managers said that because of the economic downturn, they felt pressure from both private owners and corporate headquarters. They also said a lack of work ethic, low motivation, and low pay caused many workers to underperform in ways that raised ethical issues. Managers also mentioned diversity issues and theft by both guests and employees as ethical issues of concern, and shared stories about their experiences.

Importance-Performance Analysis of Guest Entertainment Technology Amenities in the Lodging Industry

An assessment of how hotel guests view in-room entertainment-technology amenities was conducted to compare the importance of these technologies to how they performed. In-room entertainment technology continues to evolve in the hotel industry. However, given the multitude of entertainment products available in the marketplace today, hoteliers have little understanding of guests’ expectations and of which in-room entertainment-technology amenities will drive guest satisfaction and increase loyalty to the hotel brand. Given that technology is integral to a hotel stay, this study seeks to evaluate the importance and performance of in-room entertainment-technology amenities. Findings indicate that free-to-guest television (FTG TV) and high-speed Internet access were the two most important inroom entertainment-technology amenities when it comes to the selection of a hotel for both leisure and business travelers. The Importance/Satisfaction Matrix presented in the current study showed that many of the in-room entertainment-technology amenities are currently a low priority for guests. Keywords: importance-performance analysis, hotel, in-room entertainment technologies

The Specialist: Coming Soon To Your Local Hotel

In an article entitled - The Specialist: Coming Soon To Your Local Hotel - by Stan Bromley, Regional Vice President and General Manager, Four Seasons Clift Hotel, San Francisco, the author’s introduction states: “An experienced hotelier discusses the importance of the delivery of a high “quality-to-value” ratio consistently to guests, particularly as the hotel market becomes specialized and a distinction is drawn between a “property” and a “hotel.” The author’s primary intention is to make you, the reader, aware of changes in the hospitality/hotel marketplace. From the embryo to the contemporary, the hotel market has consistently evolved; this includes but is not limited to mission statement, marketing, management, facilities, and all the tangibles and intangibles of the total hotel experience. “Although we are knocking ourselves out trying to be everything to everyone, I don't think hotel consumers are as interested in “mixing and matching” as they were in the past,” Bromley says. “Today's hotel guest is looking for “specialized care,” and is increasingly skeptical of our industry-wide hotel ads and promises of greatness.” As an example Bromley makes an analogy using retail outlets such as Macy’s, Saks, and Sears, which cater to their own unique market segment. Hotels now follow the same outline, he allows. “In my view, two key factors will make a hotel a success,” advises Bromley. “First, know your specialty and market to that segment. Second, make sure you consistently offer a high quality-to-value ratio. That means every day.” To emphasize that second point, Bromley offers this bolstering thought, “The second factor that will make or break your business is your ability to deliver a high "quality/value" ratio-and to do so consistently.” The author evidently considers quality-to-value ratio to be an important element. Bromley emphasizes the importance of convention and trade show business to the hotel industry. That business element cannot be over-estimated in his opinion. This doesn’t mean an operator who can accommodate that type of business should exclude other client opportunities outside the target market. It does mean, however, these secondary opportunities should only be addressed after pursuing the primary target strategy. After all, the largest profit margin lies in the center of the target. To amplify the above statement, and in reference to his own experience, Bromley says, “Being in the luxury end of the business I, on the other hand, need to uncover and book individuals and small corporate meetings more than convention or association business.

Entrepreneur's Dilemma: Hotel Investments in Emerging Markets

Estimating the required rate of return for hotel properties is a daunting task because a lodging property is considered a hybrid between a real estate asset, and a revenue-generating enterprise affiliated with a hotel brand. Computing the expected rate of return for a hotel becomes even more complicated when a third party foreign investor/entrepreneur is the one performing the computation for an investment hotel in an emerging country. This clinical case illustrates the challenges surrounding the estimation of a project’s cost of equity in the multinational hotel industry. The results reveal that estimating cost of equity in emerging markets for hotel investments continues to be a conundrum. Future investors should make multiple adjustments and use several models when making their capital investment decisions.

Perceived Work-related Factors and Turnover Intention : A Case Study of a South Korean Construction Company

Purpose – Employee turnover entails considerable costs and is a major problem for the construction industry. By creating an extensive framework, this study aims to examine whether perceived work-related factors affect turnover intention in South Korean construction companies. Research design – The paper is based on the results of a questionnaire of 136 employees that was conducted and provided by a Korean construction company. Research hypotheses were tested via correlation analyses. The most influencing work-related factors, as well as differences among job levels, were determined by multiple regression analyses. Findings – Communication, immediate leaders, organizational commitment, and organizational pride substantially affect turnover intentions. All of these factors can be considered as relational factors. The most influencing factors differ among job levels. Discussion/practical implications – Immediate leaders should be aware of their role in retaining employees and enhance communication, organizational commitment and pride. This study shows how the importance of certain variables differs for groups of employees. Theoretical implications/limitations– This study is based on a sample of employees from a Korean construction company. Therefore, the generalizability of the findings has to be tested. Future research should test the proposed framework with other factors or resources. Originality/value – This study shed light on the turnover subject in the South Korean construction industry. It shows that different factors can influence turnover intention among job levels. A framework was created, which is based on 16 work-related factors including organizational factors, HRM practices and job attitudes.

Perceived Work-related Factors and Turnover Intention : - A Case Study of a South Korean Construction Company

Purpose – Employee turnover entails considerable costs and is a major problem for the construction industry. By creating an extensive framework, this study aims to examine whether perceived work-related factors affect turnover intention in South Korean construction companies. Research design – The paper is based on the results of a questionnaire of 136 employees that was conducted and provided by a Korean construction company. Research hypotheses were tested via correlation analyses. The most influencing work-related factors, as well as differences among job levels, were determined by multiple regression analyses. Findings – Communication, immediate leaders, organizational commitment, and organizational pride substantially affect turnover intentions. All of these factors can be considered as relational factors. The most influencing factors differ among job levels. Discussion/practical implications – Immediate leaders should be aware of their role in retaining employees and enhance communication, organizational commitment and pride. This study shows how the importance of certain variables differs for groups of employees. Theoretical implications/limitations– This study is based on a sample of employees from a Korean construction company. Therefore, the generalizability of the findings has to be tested. Future research should test the proposed framework with other factors or resources. Originality/value – This study shed light on the turnover subject in the South Korean construction industry. It shows that different factors can influence turnover intention among job levels. A framework was created, which is based on 16 work-related factors including organizational factors, HRM practices and job attitudes.

Hotel Profit Implications from Rising Wages and Inflation in the U.S.

Macroeconomic models based on the Phillips Curve predict that as the unemployment rate declines toward the long-run, natural rate, the pace of wage and price growth accelerates and inflation rises.1 In this paper I analyze the profitability prospects for the U.S. hotel industry in today’s relatively volatile economic environment, keeping in mind the Phillips Curve’s general principle that inflation and employment have an inverse, but relatively stable short-term relationship. Although employment and economic growth in the U.S. have been uneven in recent months, the unemployment rate has declined to less than 5 percent, which many economists believe is close to the natural rate. Growth in wages and salaries, as measured by the Employment Cost Index, has concurrently been moving upward between 2.5 and 3.0 percent during the past 12 months. At the same time, general inflation remains below levels that might typically be expected this late in the cycle, although core inflation is bumping up against the Federal Reserve’s 2-percent target. If the inflation rate continues to move upward as predicted by Phillips Curve models (and encouraged by the Federal Reserve), rising labor costs and other expenses will exert downward pressure on U.S. business profits. Backward movement up the Phillips Curve (with greater inflation) coincides with an expanding economy. In that scenario, prices of goods and services also will rise in real terms if their supply cannot keep up with demand, and producers have the ability to raise prices (absent fixed-price contracts such as leases).

Hotel Sustainability Benchmarking Index 2016: Energy, Water, and Carbon

Several studies have been undertaken or attempted by industry and academe to address the need for lodging industry carbon benchmarking. However, these studies have focused on normalizing resource use with the goal of rating or comparing all properties based on multivariate regression according to an industry-wide set of variables, with the result that data sets for analysis were limited. This approach is backward, because practical hotel industry benchmarking must first be undertaken within a specific location and segment.1 Therefore, the CHSB study’s goal is to build a representative database providing raw benchmarks as a base for industry comparisons.2 These results are presented in the CHSB2016 Index, through which a user can obtain the range of benchmarks for energy consumption, water consumption, and greenhouse gas emissions for hotels within specific segments and geographic locations.

Hotel Vila Galé Lagos

Dissertação de Mestrado, Direção e Gestão Hoteleira, Escola Superior de Gestão, Hotelaria e Turismo, Universidade do Algarve, 2016

The Proceedings of the South Carolina Historical Association

Annually, the association publishes a journal, The Proceedings, which consists of papers presented at the annual meeting. The Casablanca Incident of 1908 by John F. Nau The South Carolina Textile Industry before 1845 by E. M. Lander, Jr. The State’s Editorial Policy Relative to South Carolina 1903-1913 by Jean Todd Carlisle

Design, manufacturing and maintenance of sugar mill equipment

The ISSCT Engineering Workshop 2008 in Brazil was well attended with 62 participants including 39 overseas visitors from 15 countries. The workshop addressed the theme Design, manufacturing and maintenance of sugar mill equipment. From the technical sessions, the following conclusions were drawn: • Several speakers articulated a shared vision of the future of the Brazilian sugar industry. This shared vision gives considerable confidence that the vision can become a reality. • There is an increased focus on energy products. As a result, the reduction of factory energy consumption in order to maximise the energy available for products is also a focus. • New equipment and products are being developed with reduced power consumption, lower capital and maintenance costs, and better performance. • Methods presented for reducing maintenance costs included the use of a maintenance management system, condition monitoring and material selection. The workshop was held in conjunction with Piracicaba’s annual SIMTEC exhibition for the sugar and alcohol industries that provides a forum for technical presentations and discussion, and showcases products and services from manufacturers and service providers. In return for holding the workshop in conjunction with SIMTEC, SIMTEC provided sponsorship for the workshop, including paying travel and accommodation costs for two invited speakers, and organisation for the workshop. The ISSCT and SIMTEC technical programs were arranged so that their technical sessions did not clash, and the ISSCT program was extended a day to provide an opportunity for ISSCT participants to attend the SIMTEC exhibition. Informal feedback from workshop participants suggested that the arrangement between ISSCT and SIMTEC worked well. Site visits to two manufacturing facilities and two sugar mills were arranged as part of the workshop.

Earnings Benchmarks en las empresas hoteleras internacionalizadas

[ES] Este trabajo se centra en la gestión del resultado en torno a la hipótesis de evitar pérdidas y descensos en resultados en una muestra de empresas hoteleras internacionalizadas y no internacionalizadas. En primer lugar, se plantean los histogramas de frecuencias para ambas submuestras con el objetivo de comprobar la existencia de una discontinuidad en el resultado neto. En segundo lugar, se analiza la incidencia de los ajustes por devengo en los intervalos críticos de pequeñas pérdidas (pequeños descensos en resultados) frente a pequeños beneficios (incrementos en resultados) en los dos conjuntos de empresas.

As transformações da regulação em saúde suplementar no contexto das mudanças do papel do Estado

Esta tese analisa a trajetória, os desafios e as perspectivas da regulação em saúde suplementar, contextualizados num ambiente de grandes transformações do papel dos Estados nacionais e das relações entre a Economia e a Política no âmbito mundial e no Brasil. As interrelações entre economia e política são a base para importantes mudanças no papel do Estado brasileiro, do arcabouço regulatório e da regulação da saúde suplementar em particular. A tese tem início com o desenvolvimento de uma análise sobre o panorama político e econômico mundial, de modo a identificar suas influências sobre o Brasil e o setor de saúde brasileiro. À luz deste arcabouço analítico, é desenvolvido um detalhamento retrospectivo dos principais normativos que compuseram a regulação em saúde suplementar, editados por intermédio da Agência Nacional de Saúde Suplementar ANS. Para tanto, foi construído um banco de dados que servirá não apenas para a pesquisa da tese, mas para outros trabalhos a serem desenvolvidos posteriormente. O estudo desse material permitiu identificar uma trajetória da saúde suplementar marcada por três diferentes tônicas, que tem se desdobrado a partir da cena das grandes transformações mundiais. As conclusões aqui obtidas sobre a trajetória da regulação foram ainda apreciadas, por meio de pesquisa com todos os atuais e antigos dirigentes da ANS. Adiante, foi realizada uma breve análise dos efeitos produzidos por cada uma das tônicas anteriormente descritas, bem como discutidos os principais desafios que se colocam na ordem do dia na agenda da saúde suplementar no Brasil. É interessante destacar que discussão da perspectiva futura da regulação da saúde suplementar no Brasil se dá sobre um pano de fundo de profundas transformações no plano da política e das relações de hegemonia e poder na esfera global. Por fim, o trabalho aqui apresentado tem a finalidade de contribuir para o desenvolvimento do tema e sugerir aperfeiçoamentos de modo a aprimorar o planejamento, a gestão e a regulação da saúde suplementar, buscando relações público-privadas mais harmoniosas e eficientes no tocante à assistência e promoção da saúde.