Marriott Corporation : The Cost of Capital( Abridged) (บริษัท Marriott : ต้นทุนของเงินทุน (สรุป) ในเดือนเมษายน 1988 Dan Cohrs รองประธานของโครงการการเงินที่บริษัท Marriott ได้มีการเตรียมตัวแนะนำรายปีสำหรับ Hurdle rates(อัตราส่วนลด)ของแต่ละแผนก 3 แผนก โครงการการลงทุนแต่ละจะถูกคัดเลือกโดยอัตราส่วนลดที่เหมาะสมของ แต่ละแผนก ในปี 1987 Marriott มียอดขายเติบโต 24 % ละ ROE มียอดขาย 22% และรายได้ต่อหุ้นเพิ่มขึ้น 2 เท่า จากเมื่อ4ปีก่อน และกลยุทธ์การดำเนินการมีเป้าหมายตามแนวโน้มนี้ต่อไป
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Ritz Carlton Case Study 1. In what ways could the Ritz Carlton monitor its success in achieving quality? A simple survey using a questionnaire can be used to collect data about the satisfaction of the customer. The increase or decrease in the number of customers served can also tell whether customers are satisfied and can show improvement in quality. Internal quality can be measured by how the hotel functions in regards to staff and how they are scheduled‚ conflicts within the staff‚ and the number
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By the 1940s the modern architectural movement had shed all traditional reminiscences of the Mud?jar‚ Romanesque‚ gothic‚ and baroque influences Cuba had experienced‚ and another housing boom resulted from capital investment accumulated after World War II. Because of the technological advancement of reinforced concrete‚ apartment buildings started springing up in the late 1940s and through the next decade for the middle classes. Modernism came into its glory and peaked in the 1950s. Thousands of
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New starter information Premier Inn at a glance “Premier Inn is the UK and Irelands biggest and fastest growing hotel company‚ with over 650 budget hotels offering quality accommodation at affordable hotel prices”. (http://www.premierinn.com/) It is the largest division of Whitbread which “is a multinational hotel‚ coffee shop and restaurant company”. (http://en.wikipedia.org/wiki/Whitbread) Premier Inn provides large beds‚ en-suite bathrooms‚ a widescreen TV with Freeview and 30
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Therefore‚ we used βu = βE * E/V to deleverage the financial risk for each of the hotels and compute the weight average of the βu for the hotel business by the revenue of each hotel. The details are in the attached excel file. βu of lodging division of Marriott = βu of pure play in the hotel industry Then‚ we can calculate the βE of lodging divison at Marriot by releverage the βu of pure play. The βE of lodging divison at Marriot‚ βE = βu + [βu – βD] * (D/E) * (1-T) Among them‚ βu = 0.4113‚ βD = 0.3595
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of the jobs and salaries. Use the rubrick rather than this to do your plan. She did a very thorough job including sample questionnaires etc. HRM Business Plan Project PART 1 General Section Mission: ECO-JOY is a proposed spin-off brand of Marriott International‚ Inc. It aims to get its guests to experience green‚ healthy‚ environmentally sound‚ comfortable and fun ny eco-tourism. The ECO-JOY Resort will be the first resort that integrates the application of biogas. All the organic fertilizers for
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What is the overall weighted average cost of capital for Marriott Corporation? (Use a corporate tax rate of 34%). What type of investments would you value using Marriott’s WACC? Cost of debt：8.95%+1.3%=10.25% Cost of equity：8.95%+1.64*7.43%=21.14% 實際beta=1.11，根據exhibit 1，長期債務為24.99億美元，權益價值為35.64億美元(30元*118.8百萬股)，可以得出D/V=24.99/35.64=41%標的資本結構D/V=60%，所以必需做出調整。 V=D+E，D/V=41%，E/V=59% Beta of asset=(E/V)*beta of equity=0.59*1.11=0.655 Beta of equity=(V/E)*beta of asset=(1/0.4)*0.655=1.64 Risk free
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CHAPTER 1 AN OVERVIEW OF INTERNATIONAL BUSINESS Chapter Objectives 1. 2. 3. 4. 5. Discuss the meaning of international business Explain the importance of understanding international business Identify and describe the basic forms of international business activities Discuss the causes of globalization Comprehend the growing role of emerging markets in the global economy 1-2 What Is International Business? Business transactions between parties from more than one country
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Introduction……………………………………………………………….3/7\ Relationship………………………………………………………………3/7~4/7\ new requirements…………………………………………………………4/7~5/7\ The efficiency and reliability of international logistics…………………..5/7~6/7\ Conclusion ………………………………………………………………….6/7\ References…………………………………………………………………7/7\ International trade and international Logistics The rapid expansion of trade liberalization and the growth of global capital markets and integration‚ information technology and the progressive
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Marriott Corporation: The Cost of Capital T c=income taxes of 1987 / income before income taxes of 1987 = 175.9/398.9 = 44% Step 1:From the Exhibit 3 ß equity for each firm in this industry are below Marriot Corporation 1.11; Hilton Hotels Corporation .76 ; Holiday Corporation 1.35 La Quinta Motor Inns .89; Ramada Inns‚ Inc 1.36. Step 2: For each firm in the industry‚ to estimate bunlevered using the bequity estimate: bequity = [1 + (1-TC)Debt/Equity]bunlevered bunlevered of Marriot= 1.11/[1+(1-
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