DEPARTMENT OF ACCOUNTANCY UNIVERSITY OF ILLINOIS MEMORANDUM TO: Professor Wu FROM: Minghao Tang‚ AE5 DATE: March 30‚ 2014 SUBJECT: MAVERICK LODGING CASE Year 1999 Analysis In 1999‚ the Maverick Lodging company implements balanced scorecard to establish a measurement system and control the hotel level management. The balanced scorecard has several attributes‚ such as tracking financial performance‚ tracking nonfinancial measures and communicating franchisees and owners objectives of growth
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Some bacteria cause more serious illness than others‚ but only a few are responsible for the majority of cases. Below is information regarding nine prominent bacteria. Campylobacter jejuni Found: intestinal tracts of animals and birds‚ raw milk‚ untreated water‚ and sewage sludge. Transmission: contaminated water‚ raw milk‚ and raw or under-cooked meat‚ poultry‚ or shellfish. Symptoms: fever‚ headache‚ and muscle pain followed by diarrhea (sometimes bloody)‚ abdominal pain and nausea that appear
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Lodging Property * Establishment that charges fees for providing furnished sleeping accommodations to persons who are temporarily away from home or who consider these accommodations their temporary or permanent homes. * It is made up of companies that provide overnight accommodations to the travelling public – food‚ beverages‚ entertainment‚ recreation‚ and meeting facilities. * They also provide accommodations to both travelers and non – travelers. Basic Terminologies for Lodging Facilities
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History and Future of Technology TALLINN UNIVERSITY OF TECHNOLOGY School of Economics and Business Administration Research Paper Jens-Antti Andersen‚ Tallinn‚ Estonia‚ 2013 Table of Content 1. History 3 1.1 Industrial Revolution 3 1.2 Scientific Management – Ford and Taylor 4 2. Future 4 2.1 Future Trends – Bitcoins and 3D Printing 4 3. Discussion 4 1. History 1.1 Industrial Revolution The Industrial Revolution started in 1770 in England‚ and spread from there to the rest
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traffic management. Regarding this‚ a code was passed and approved by Mayor Oscar Moreno‚ City Ordinance 10551-2007 or commonly known as the Operation Hapsay Dalan. This was spearheaded by former CEPALCO Vice President Atty. Jose Edgardo “Egay” Uy in partnership with the police‚ Task Force Hapsay Dalan and the Roads and Traffic Administration. The operation focuses on solving the traffic issues on pedestrians within the city. This ordinance has been implemented and initially started in some parts
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International Lodging Merger Role of Lambert Hotel Lambert Hotel is in second rounds of negotiations with AAA HotelCo of a possible merger between the two companies. Lambert is a strong brand with a luxurious and upscale tres comfortable Michelin rating‚ and AAA is rated at mid-scale category of equivalent ranking. Culturally‚ there is a difference in the approach to business mergers. Time wise‚ Lambert is eager to close the merger with AAA or consider the alternative value that is a safe bet
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also located at the LCCT and shares operational facilities with AirAsia Berhad. * AirAsia Berhad was listed on the Main Market of Bursa Malaysia Securities Berhad in November 2004. A Brief History of AirAsia * The airline was established by a Malaysian conglomerate in 1993 and commenced operations in 1996. * In December 2001‚ with the airline heavily in debt‚ AirAsia was purchased by Tony Fernandes of Tune Air Sdn. Bhd. for the price of RM1. As part of the purchase‚ Tony also took up
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(Early days) Singapore Airlines’ history can be traced back to 1 May 1947‚ when a Malayan Airways Limited (MAL) Airspeed Consul took off from Singapore Kallang Airport on the first of three scheduled flights a week to Kuala Lumpur‚ Ipoh and Penang. · Over the next five years‚ larger capacity DC-3 aircraft were introduced. This meant faster and more comfortable flights‚ and the extension of services to destinations in Indonesia‚ Vietnam‚ Burma (now Myanmar)‚ North Borneo (Sabah) and Sarawak. · Inflight
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Cost of Capital Lodging Division Tax Rate 0.44 Equity Beta D/D+S Lodging Hilton Holiday La Quinta Ramada Average 0.76 1.35 0.89 1.36 1.09 14% 79% 69% 65% 0.5675 S/D+S 86% 21% 31% 35% 0.4325 D/S Unlevered Beta 0.16 3.76 2.23 1.86 2.00 0.65 0.28 0.28 0.48 0.42 Target D/D+S Target D/S Levered Beta 74% 2.85 1.62 Costs of Equity: Rf Lodging MRP 8.95% 7.43% Beta Requity 1.62 21.02% Costs of Debt: Rf Lodging 8.95% Spread Tax rate Rdebt(1-T) 1.10% 0.44 0.0563 WACCs: Lodging Target D/D+S
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Maverick Lodging Case Study Notes * 1/2000: VP of Asset Management (Cindy Baum) was reviewing the 1999 balanced scorecard results for Maverick Lodging; she had developed & implemented the balanced scorecard throughout 1998 * 1999: first full year of results using the balanced scorecard approach * Designing a balanced scorecard had been a considerable challenge because of the complicated nature of the hotel industry * Maverick Lodging: managed hotels on behalf of 3rd party
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