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HOS320 Hotel Management Simulations

Published : 23-Oct,2021  |  Views : 10

Question:

Outline for full details aware of the 3 additional sections that are required Details in Subject outline and we will go through a presentation on what is expected around and Describe the Following Details:
 
Current Situation
Variation Report
Competitor Analysis
Strategies and Analysis
Forecast 
What would we do differently?
Teamwork, Time Management and working 

Answer:

Statement of Percentage change between year 3 and year 1

Particular

Percentage (Increase / Decrease)

Food & Beverages

251.58

Other Operated Department

576.58

Total Sales

257.42

Rooms

150.18

Food & Beverages

180.07

Other operted Departments

282.15

Administrative & General

104.30

Sales & Marketing

73.86

Property Operation & Maintenance

12.00

Utilities

141.59

Property, Taxes and Insurance

3.55

Bank Charges

252.55

Interest Expenses

-63.93

Depreciation

6.23

Total Expenses

113.30

Income before Income Taxes

-438.10

ROCE

-217.25

After above analysis of operating income and expenses of year 3 and year 1 of Hotel Simulation; it can be assessed that the hotel has improved a lot. A major change in Income before Income tax can be assessed that is from loss of approximately 21 Lacs company has progressed to a growth and earned profits of approximately 71 Lacs which is 438% higher in comparison to performance of year 1 (Iatridis, 2013).Earnings before Income Taxes assess the ability of generating profits from its own operations and ignoring variant such as Income Tax. It is an accounting measure for assessing company’s operating and non- operating profits. In present case increase in same has been analyzed which depicts that company is efficiently applying resources available with it.

Return of capital employed is referred to a profitability ration which evaluates the manner in which company efficiently generate profits by comparing net operating profit to capital employed (Stallings, 2014). Further return of capital employer has also increase to a major extent i.e. from loss of approximately 31% it has increased to a positive figure of 36 % which is an impressive figure representing progress of the company. Total Revenue of company has increase at a higher rate in comparison to increase in expenses. The same is one of the reason that company has been able to achieve high profits.

Hotel Management Simulations

Statement of Percentage change between year 3 and year 4

Particular

Year 1

Year 2

Year 3

Year 4

Cash Flow relating to capital expenditure

512013

1122278

1679836

0

Total

 

512013

 

1122278

1679836

0

Refurbishment of hotel depends on the age of building, level of on-going maintenance and strength and competitiveness. In present scenario, no capital expenditure has been done in year 4 and a capital expenditure of $1679836 has been expended and the same is related to Net Property and Equipment. In accordance with Australian Accounting Standard Board’s Framework for the preparation and presentation of Financial Statement expenditure on asset should be capitalized only when it improves the condition of asset beyond its original assessed standard of capacity. The specified enhancement or up gradation comprises extension of useful life, reduction in future operating cost (Harris and et.al. 2014). AASB 116 Property Plant and Equipment deals with the issues relating to expenditure which could be capitalized regarding Plant and Equipment.

A capital expenditure can be referred as amount which has been applied for purchasing or improving a long term asset as building and equipment. The increase in book value of Net Property and Equipment depicts that capital expenditure has been done in purchasing the asset (Haddock-Millar, Sanyal, & Müller-Camen, 2016). The level of expenditure is in accordance with the progress which has been gained by company with its efficient efforts. As the same has enhanced the existing value or operating efficiency of the asset the same has been capitalized. The level of expenditure is having an increasing trend which specifies that Property and Equipment has been enhanced in accordance with the required need.

HR Initiatives to motivate staff:

Motivation can be referred as a compelling force which energizes people to do them operations in best manner either from intrinsic motivation (inside the employees) or from environment provided by organization. The most common motivator can be said- money; thus Financial Rewards can be provided by HR in order to motivate employees to the maximum efficient extent possible (Levenson and et.al. 2017). It can be in form of indirect compensation, deferred compensation or health insurance. Another action that can be taken by HR is to provide Performance Based Rewards. The challenge for HR is to determine what employees consider as equitable and appropriate and then provide reward in according to their expected category. Thus, it is essential to ascertain the reward in accordance of employee’s desire. Motivation programme should be initiated by offering encouragement as well as help so that employees could perform in best manner and discuss the difficulties in way also with the HR.  Even Non-financial Rewards could be best way of motivating people for whom money is not a vital variant (Dash, 2013).

Therefore, rewards like recognition, personal growth, enjoyable work environment etc could work as motivation for them to provide in best manner to the organization. Non- financial rewards are proved best way of motivating employees who are relating to high profiles or who have achieved a lot in terms of money.  It can be done through arranging a recognition program for saying thanks or well done to the employees who have performed. The rewards which go along with this recognition comprise trophies, office accessories, household items etc. A key advantage of this recognition program is they remain as a long lasting memory in mind of employee and they remain in company for long time as well continue to enhance their abilities. The employee receives a feeling of pride with these programs which cannot be compared or measured in financial terms.

Three Year Analysis

            An increase in book value of Property and Equipment can be assessed from the balance sheet which represent that the company is refurbishing or acquiring new property in accordance with the enhancement of business operations. The same has been specified in form of table:

Particular

Year2

Year 3

Year 4

Books value of Property, Plant & Equipment

$8745684

$8678529

$9402350

As per average indicator usually 98% of room occupancy is available in hotel and the same increases to approximately 200% on weekends. This shows that the company is having good image in public place. However, the image is not same for organizing conference or for meetings like contract, thus it can be said that it is preferred for people who spent time with groups and families. The facts also represent that a large crowd is aware regarding the services provided by Hotel Simulation and is having strong brand image. The expenditure under administrative and general head does not have a major change which represents that general staff turnover has been maintained and they are providing better services as a whole organization.

References

Books and Journal

Dash, B. (2013). Employee engagement and HR initiatives:-A conceptual study. International Journal on Global Business Management & Research, 1(2), 85.

Haddock-Millar, J., Sanyal, C., & Müller-Camen, M. (2016). Green human resource management: a comparative qualitative case study of a United States multinational corporation. The International Journal of Human Resource Management, 27(2), 192-211.

Harris, P., Stahlin, W., &Shubita, M. F. (2014). US GAAP conversion to IFRS: a case study of the cash flow statement. Journal of Business Case Studies (Online), 10(1), 15.

Iatridis, G. (2013). International Financial Reporting Standards and the quality of financial statement information. International review of financial analysis, 19(3), 193-204.

Levenson, A., Levenson, A., Fink, A., & Fink, A. (2017). Human capital analytics: too much data and analysis, not enough models and business insights. Journal of Organizational Effectiveness: People and Performance, 4(2), 145-156.

Stallings, W. (2014). Operating Systems: Internals and Design Principles| Edition: 8. Pearson.

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