...Proximity Hotel is a LEED Platinum "green hotel" and the building's design and construction followed guidelines of the Leadership in Energy and Environmental Design (LEED) Green Building Rating System, the nationally accepted benchmark for the design, construction, and operation of high performance green buildings. Developed by the U.S. Green Building Council, LEED gives building owners and operators the tools they need to have an immediate and measurable impact on their buildings’ performance. LEED promotes a whole-building approach to sustainability by recognizing performance in six key areas of human and environmental health: sustainable site development, water savings, energy efficiency, materials selection, indoor environmental quality, and innovation in design. To earn LEED certification, a building project must meet certain prerequisites and performance benchmarks ("credits") within each category. This comprehensive approach is the reason LEED-certified buildings have reduced operating costs, healthier and more productive occupants, and conserve our natural resources Here is a sampling of the sustainable practices at Proximity Hotel: * The building uses 39.2% less energy than a conventional hotel/restaurant by using ultra efficient materials and the latest construction technology. * The sun’s energy heats hot water with 100 solar panels covering the 4,000 square feet of rooftop (enough hot water for a hundred homes). * 700 linear feet of stream was restored...
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...of additionality Year 2006: In the year 2006 a total of 19 wind energy projects were registered out of which 14 were small scale projects. Small scale projects: Additionality of 3 small scale projects has been studied as a sample. These projects are: 1. Generation of electricity from 6.25 MW capacity wind mills by Sun-n-Sand Hotels Pvt. Ltd at Soda Mada Rajasthan 2. 3.75 MW Small Scale Grid Connected “Demonstration Wind Farm Project” at Chalkewadi, District Satara, State Mahararashtra 3. 10.6 MW wind farm at Village Badabagh, District Jaisalmer, Rajasthan. All the 3 projects demonstrated investment barrier in the additionality. The 6.25 MW and 10.6 MW project showed that the cost of power generation through wind is higher compared to that of coal and fuel oil, whereas. The 3.75 MW project has shown how due to non payment by Maharashtra state electricity board the project participants were not able to repay the loan (50 % of the total project cost). This has also been shown as a regulatory risk by the project proponent. The projects have demonstrated technology barrier faced due to poor penetration of wind energy and uncertainty in power generation through wind. The 6.25 MW project also faced technological barrier by using higher capacity of WTGs (1250 Kw) and other barriers like investment in power evacuation, unskilled manpower and lack of experience due to new technology. The 10.6 MW project in Rajasthan faced regulatory barriers because the policies of the Rajasthan...
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...forskning. CTM utvecklar tvärvetenskapliga utbildningar, samordnar större forskningsprojekt och informerar omvärlden om universitetets miljöforskning. Centrum för tvärvetenskaplig miljöforskning hette tidigare Centrum för naturresurs- och miljöforskning, CNM, och har funnits vid Stockholms universitet sedan 1990. Hemsida: www.ctm.su.se STOCKHOLM UNIVERSITY Centre for Transdisciplinary Environmental Research Sustainable Enterprising Master’s Thesis (20p) CORPORATE SOCIAL RESPONSIBILITY IN THE HOTEL INDUSTRY: A CROSS CULTURAL PERSPECTIVE TERESA NORD Academic Advisor: Hans Rämö Stockholm University School of Business Master’s Thesis (20p), Fall 2006, Stockholm University ABSTRACT Attention to business ethics in varying environmental, economic and cultural contexts has become increasingly important as enterprises expand globally. This thesis attempts to determine the impact of culture and local context on CSR performance by evaluating and comparing CSR performance across hotel groups in culturally and geographically diverse regions. Data on indicators for waste production, water consumption, energy use, equal employment opportunity, employee training and employee organization were collected...
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...1 and currently operates in more than 70 countries worldwide 2, making it one of the oldest and largest hotel corporations in the world 3. Marriott International’s stock is publicly traded on the New York Stock Exchange (NYSE) under the symbol “MAR”, which we will use to reference the company throughout this report. Our team chose to analyze MAR for the following reasons: • In our Organizational Behavior class, we completed the “Work Preferences Indicator” and discovered that the field of hospitality management was recommended for everyone on our team. • The hotel industry is booming in Panama (with over 12,000 new rooms currently under construction for delivery by 2013). 4 Marriott has had a strong market presence over the last decade and currently commands one of the highest room rates in Panama City.5 It is also undergoing an aggressive expansion and remodeling of its two properties at this time. 6 • Most of us are frequent business travelers and often stay in Marriott-flagged properties. • One of our team members was a former sales and marketing director for a luxury resort anchored by a Marriott hotel, Los Sueños Resort & Marina in Costa Rica. Using various financial websites, we obtained financial statements and trading information for MAR and its closest competitor, Starwood Hotels & Resorts Worldwide, Inc., which will serve as an industry benchmark for the purposes of this report. Key financial ratios for both companies were computed for the four most...
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...Are High Hotel Tariffs Damaging India’s Tourism Potential? Industry analysts fear that the current boom which the Indian hospitality industry is witnessing will not last. The prime reasons cited are steep hotel rates and shortage of rooms. Leading tour operators, in conversation with Bhisham Mansukhani and Charmaine Fernz share their opinion on this current scenario... The Indian hospitality’s current occupancy boom, which revived the industry from its days in shambles, is now posing a serious threat to the supposedly resurgent inbound tourism sector. Inbound tour operators have unanimously cited both the steep Average Room Rates (ARRs) and shortfall in inventory as key deterrents that keep tourists from visiting India. Ashwini Kakkar Neeraj Ghei Himmat Anand Tour operators state that the problem is twofold, while the consequence is simply a low number of inbound tourists. Ashwini Kakkar, CEO and MD, Thomas Cook India Ltd “The problem is particularly serious in the metros. We are not just talking about incredibly high room rates which are disproportionate to the regional benchmark but the absolute non-availability of rooms at any cost. The implications of this in terms of the country’s economy, and Foreign Institutional Investment(FII) approach is far reaching and mostly detrimental. Our nearest and most formidable competitor, China has more than 100,000 rooms in its key industrial hub Shanghai. However India, which claims to draw parallels with it, has a paltry...
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...Contents Introduction to Primary Tourism & Hospitality Sectors: 3 A Review of Tourism and Hospitality Product: Barrack Square 3 Sustainability Cost-Benefit Analysis: 6 Maximizing Benefit, Minimizing Cost: 7 Assessment of Butler’s Life Cycle Model: 8 Sign Off: 10 Works Cited 10 Introduction to Primary Tourism & Hospitality Sectors: Tourism and hospitality are multi-dimensional. According to UNWTO (Understanding Tourism Basic Glossary) Tourism is a social, cultural and economic phenomenon which entails the movement of people to countries or places outside their usual environment for personal or business/professional purposes. These people are called visitors (which may be either tourists or excursionists; residents or non-residents) and tourism has to do with their activities, some of which imply tourism expenditure. The concept of hospitality underpins much of what the tourist experiences when travelling, namely the consumption of food, drink and accommodation away from the home environment (Page & Connell, 2006). It is a broad service industry. It includes lodging, event planning, theme parks, transportation, cruise line and the other factors of tourism industry. The competition and usage rate is an important variable for this sector. A Review of Tourism and Hospitality Product: Barrack Square Barrack Square is situated right on the Swan River. You can find restaurants, shops, Swan Bells and the Barrack street. There is also jetty to catch a ferry...
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...agency of this programme. • • GENERAL INFORMATION Aldar’s Description The Emirate’s premier real estate development, management and investment company. Aldar’sVision Help develop Abu Dhabi into an international business market and tourist destination by establishing Abu Dhabi as the UAE’s most dynamic forward-thinking real estate market by creating unique and prestigious developments that can be used as a benchmark of quality, whilst adhering to the cultural and natural heritage of the city. Aldar’s Portfolio of Projects and Properties • Aldar owns over 50 million square metres of land in strategic locations through the Emirate • Diverse development portfolio of residential, office, retail and entertainment projects • The current property portfolio includes major developments and re-developments within the Emirate of Abu Dhabi. • The projects included in Aldar strategic Partnership Programme are those that will be finished before Q2 2011: • Ferrari World Abu Dhabi • Yas Links Golf Course • Al Raha Beach (Al Zeina, Al Bandar, Al Muneera) • The Yas Hotel • Aldar Academies (The...
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...The Millennium Development Goals: Where Bangladesh Stands? Six countries including Bangladesh received the UN Millennium Development Goal (MDG) Awards for their significant achievements towards attaining the goal. Three of these countries are from Asia and three from Africa. Prime Minister Sheikh Hasina receiving the UN MDG Award in New York’s Astoria Hotel on Sunday 19 September 2010 Bangladesh received the UN award for its remarkable achievements in attaining the Millennium Development Goals (MDGs) particularly in reducing child mortality. Prime Minister Sheikh Hasina received the award at a colorful function at New York's Astoria Hotel on Sunday (19 September 2010). Prime Minister Sheikh Hasina with other Ministers in a photo session following receipt of UN MDG Award 2010 (19 September 2010, New York) 1 | MDGs and Bangladesh In September 2000, world leaders endorsed the Millennium Declaration, a commitment to work together to build a safer, more prosperous and equitable world. The Declaration was translated into a roadmap setting out eight time-bound and measurable goals to be reached by 2015, known as the Millennium Development Goals (MDGs): They include goals and targets on poverty, hunger, maternal and child mortality, disease, inadequate shelter, gender inequality, environmental degradation and the Global Partnership for Development. The proud Minister for Health and Family Welfare of Bangladesh Professor Dr AFM Ruhal Haque, MP with the UN MDG Award Crest...
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...loyalty, returned business and less complains. Evan (2011) added that quality, business stability and customer’s loyalty needed to be aligned for a success business. Quality in manufacturing industry focuses on technical issues such as equipment reliability, inspections and minimal defects. On the other hand, quality in service industry focuses on the interactions between the provider and customer which do not directly produce a physical product. The service industry picks up the importance of quality later than the manufacturing industry. Evan (2011) mentioned that the 80% workforce in the United States is contributed by the service industry. Body According to Das and De Groote (2008), 75% of the one hundred biggest hotels are controlled by the top ten hotel chains around the globe. In this modern age, people travel at ease due to easy accessibilities and communications have improved into a global state, all thanks to the technology. Dreher A. (2006) mentioned that economists strongly believe the net effect of globalisation to be positive. As stated by Knight and Wit (1999), Globalisation “is the flow of economy,...
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...Damai Lovina Villas Case 1. Tourism to Bali brings thousands of visitors to the area and is the home of over 1,000 hotels. These hotels can be wasteful and consume a large amount of Bali’s environmental resources such as water, energy and waste. Hotels require 260 liters of water per second, which is equal to the amount consumed by 250,000 villagers. Due to the over consumption of energy by hotels, Bali experienced a shortage in power and blackouts became very common. Solid waste was also a problem in Bali. A single hotel generated 100 tons of waste annually, most of which was deposited into landfills. 2. In Bali government regulations were insufficient since existing standards were not enforced and growth often was promoted to the detriment of the environment. Dredging projects rarely involved environmental impact studies or guaranteed protection of natural areas as required by law. Also there were common accusations of corruption in government agencies tasked with protecting the Island’s environmental resources. Due to major government deficiency in regulations for the environment, the lack of budgeting resources caused many citizens to loose faith in its ability or intent to protect Bali’s environment. 3. Firms do not need to wait for government to take actions o address Bali’s social and environmental issues. Bali had a lot of environmental issues that were caused by the government. According to the article “The Indonesian government was the largest holder of...
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...in each division. This main goal contains 3 others more detailed components: - To become the most profitable company. - To be the preferred employer. - To be the preferred provider. In order to achieve its goal, the managers of Marriott have developed a financial strategy with 4 main decisions. Manage rather than own hotel assets. The first measure is simply to be more involved in the management of theirs hotel. It means for the company to have more control on how the money is used but also to have more responsibilities concerning the employees and especially the customers. The company is able to monitor and control its resources and expenses. By having more control, Marriott can try to improve its efficiency and its profitability, for example, by searching the best suppliers with long term contracts for what the company really needs and it could decrease useless expenses. There is another benefit if Marriott performs well on increasing its profit; Marriott will be able on the one hand to increase the salary of their employees and on the other hand to improve the quality of services provided to the customers. Invest in projects that increase...
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...vital role in supporting organisations achieve success with minimal hiccups. This report discusses the various roles that the EFQM Excellence Model plays in organisations. In addition, it looks at organisations that have employed the model in their daily operations, and the success they have received. In a nutshell, this reflection pays attention to the success the organisations achieve as far as encompassing EFQM Excellence Model is concerned. Through the EFQM Excellence Model, organisations are able to integrate the framework into existing management systems and attain success (The Author, 2003). The report also gives various recommendations that Squire Hotel Group should practice ensuring 100% occupancy of the hotels both during weekdays and weekends. By harnessing a number of suggestions that have been put forward, Squire Hotel Group will improve its performance thus achieving sustainable performance (Osseo-Asare, 2002). It is evident that EFQM Excellence Model has underlying principles that are the essential foundations in attaining sustainable results and excellence for organisations. In conclusion, the report indicates that, through the EFQM Excellence Model, organisations of all sizes and structures are able to relate themselves to qualities, attributes and achievements that define successful institutions. The EFQM Model is fundamental in developing a culture of excellence...
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...Marriott Corporation 1. Strategies Manage rather than own hotel assets. This measure allows the company to be more involved in the management of their hotels. They have more control on how the money is used but also have more responsibilities concerning the customers and employees. Monitoring and controlling the performance of the hotels and also the expenses and resources will be easier. Not owning the hotel on the other hand will decrease tied capital that results of just holding each hotel as an asset. Invest in projects that increase shareholders values This objective secures the goal of investing properly. The company used discounted cash flow techniques to evaluate the effectiveness of an investment. Projects which would increase shareholder value can be formed with benchmark hurdle rates to ensure a return on projects which results in profitable and competitive advantage. Optimize the use of debt in the capital structure. Because of Marriott’s A Rating the company is able to borrow a lot of money to invest at a relatively cheap price. Taken into account they have solid revenues from operations and no liquidity problems ahead they should not disclaim leveraging their capital structure. Therefore, they should optimize the debt level. Repurchased undervalued shares. Repurchasing the shares when the price falls below the “warranted equity value” has two effects. First of all it is a sign to stabilize the stock price, hence shareholder value will increase. Also...
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...http://www.nckvietnam.com Understanding the Global Spa Industry http://www.nckvietnam.com This page intentionally left blank http://www.nckvietnam.com Understanding the Global Spa Industry: Spa Management Marc Cohen and Gerard Bodeker AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEWYORK • OXFORD • PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier http://www.nckvietnam.com Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP, UK 30 Corporate Drive, Suite 400, Burlington, MA01803, USA First edition 2008 Copyright © 2008 Elsevier Ltd. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http:/ /elsevier.com/locate/permissions, and selecting Obtaining permission to use Elsevier material Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any...
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...WHY I’M PASSIONATE ABOUT REAL ESTATE? Return: In most of the markets real estate investments perform better than equities and other asset classes. In emerging markets probably you have to go for development projects, as rental yield is not very attractive. In most of the developed markets real estate has performed better than stock market over time. And by leveraging your investment you can increase your return on equity many folds. Cash flow component in return: This one of the best thing about real estate investments – it behaves like a fixed income security, and with better yield. Rental income makes real estate more attractive even during tough time and many investors love to focus on the cash flow. Depreciation: You can’t depreciate your stocks, bonds and mutual funds. Depreciation is a gift from the government for real estate investors. Dampening of volatility in the portfolio: Real estate prices don’t fluctuate on daily basis. Fully optimized portfolios with real estate component in it have much lower volatility. Inflation hedge: real estate investments provide a good hedge against inflation. Rents usually increase with inflation, while mortgage payments on the property remain stable. This increases cash flow component. WHY SHOULD YOU NOT INVEST IN REAL ESTATE? Illiquid: Many a times real estate investments behave like illiquid assets. Generally it takes time to execute an actual exit, and liquidity can completely disappear from the market in tough times. Management...
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