The hospitality industry faces a number of specific challenges when it comes to manage their business efficiently. First, the amount of capital invested is high in a hotel or resort business making asset utilization the main profitability factor. Second, employees are trained to cater the guests rather than look for efficiency or management skills, so process improvements are not necessarily implemented on a business perspective rather than a service perspective.
Content:
During simulation Hotel Manager™ the participants act in the role of a top management team in the hospitality industry. They are faced with the common challenges of this branch. This game simulates the business processes in a simplified way. During the simulati on set up the participants will discover the relationship between capital invested and “assets at
work”. Walking through the various cost and profit centers of a hotel operati on, the participants will learn about the connecti on between daily work and profit / loss.
In the first simulation period it’s up to the participants to open a new hotel within a team being the top management team. They perform tasks like check-in, managing inventories, technical service, administrati on, housekeeping restaurant and bar.
In the second period, the teams will be provided with various concepts of improving the standards of the hotel or changing the position of the hotel. The teams will choose best suitable measures considering different factors like financial management, available employees, capacity and results which can be obtained by implementi ng these solutions. By simulating the process of a typical hotel, basic concepts like Revenue per available Room, Average Room Rate, Room Capacity Utilisation, Revenue per Seat and per guest are connected with the daily business operations.
Moreover the parti cipants will learn business concepts like depreciati on and cost of capital in a simple way getti ng insights on how to improve the business performance. They will also learn about the interrelation of P+L account and department budget planning, Balance Sheet and Inventory Control, Cash Flow and Booking Rates.
The parti cipants will use these to develop out ideas for improvement in connection with a personal action plan for the implementation. During the simulated periods the participants will get to know the diff erent strategies which will lead to bett er results in their business reality.
Benefits:
- Participants will learn the general and hotel specific management ratios
- Strengthening of entrepreneurial thinking of the employees
- Motivation and acceptance for result-oriented decisions and measures is achieved
- Fundamental financial and management skills are taught and understood
- Ideas for improvements are formulated and defined for implementation
- Participants will learn business management tools and their effects to the whole company.
Target group:
- Managers and employees in the hospitality industry
- Trainees and students of this industry and in the tourism branch
Duration:
- 1-2 days
Participants:
- up to 36