Hots: Net Income and Hotel
Crystal Hotel is a quality 3-star hotel, which has been operating for three years since taken over by a new management team. The goal for the new management team is to improve the hotel’s reputation, market share and financial performance in a competitive market area. This report consists of two main sections. First section is to analyse the objectives, strategies and outcomes of the business for first three years in detail. Secondly, a financial analysis such as total revenue and net income analysis will be done through different data graphs.
2. Overview of Business Plan for the last three years
2.1. Positioning and Mission statement
Crystal Hotel is positioned as a quality 3-star hotel. It is located in a resort area with a growing population for coastal vacations. The main competitor of Crystal Hotel is The Park Hotel which is a standard 3-star hotel; nonetheless, there are 7 other hotels around such as the Place Hotel, Mariner Hotel and so on (HOTS, 2012d).
According to the business mix and customer profile (HOTS, 2012b), the majority of hotel customers are business travellers during weekdays and leisure family guests at weekends. The key market segmentation was divided based on the demand of the hotel guests, which is shown as corporate market, leisure market, tour market, conference market and event market. In the future, Crystal Hotel is planning to develop as a 4-star property that will guide the decision-making in following years.
Our mission is to completely delight and satisfy our customers, to protect customers’ privacy and safeguard their personal identifiable information, to offer superior service at competitive prices, and we are committed to provide quality accommodation and services to the customers. We train employees who are willing to learn new skills and accept greater responsibilities and also provide all employees with a fair package of employment and the
References: HOTS. (2012b). Background Information. Southport: Griffith University. HOTS. (2012c). Business Advice. Southport: Griffith University HOTS HOTS. (2012e). Cash Flow. Southport: Griffith University. HOTS. (2012f). Departmental Income Statement. Southport: Griffith University. HOTS. (2012g). Indicator Averages. Southport: Griffith University. HOTS. (2012h). Learning Guide. Southport: Griffith University. HOTS. (2012i). User Guide. Southport: Griffith University. HOTS. (2012j). Monthly Indicator. Southport: Griffith University. Ladhari, R. (2009). Service quality, emotional satisfaction and behavioural intentions -A study in the hotel industry