of equals‚ united two large service organizations. CUC was a direct marketing giant with shopping‚ travel‚ automobile‚ and entertainment clubs serving more than 68 million members worldwide‚ whereas HFS was a franchisor of brand-name chains such as Ramada‚ Days Inn‚ Avis‚ and Century 21‚ with more than 100 million consumers world-wide. The cross-marketing opportunities between CUC and HFS were expected to create synergies that would further increase the revenue and profit growth of the newly formed
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HATSHEPSUT NOTES Family background: Thutmose I and his great wife Ahmose were the parents of Hatshepsut. T2 was the son of a lesser wife and T1. His right to throne was signified by marriage to Hat. They produced a daughter‚ Neferure‚ but no son. T2 had a son‚ T3‚ with Isis‚ a lesser wife. T2 was sick and weakly‚ indecisive‚ not competent enough to rule on his own. Hat got training on how to run the country‚ as she took on many of her husband’s responsibilities. She had grounding on becoming
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Economic Analysis of the United States Hotel Industry Background Information Our team chose the hotel industry in the United States for our economic analysis. The hotel business has existed since the earliest times‚ and has influenced the development of the economy since the founding of this country. According to the American Hotel and Lodging Association‚ in the year 1900‚ there were fewer than 10‚000 hotels in the US which provided 750‚000 to 850‚000 rooms. The 2004 figures show that
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Marriott Corporation The Cost of Capital Author Student Number 董晖 林桐 吴正浩 祝承懿 Shanghai Advanced Institute of Finance‚ Shanghai Jiao Tong University Table of Contents Background The hurdle rate is the required return or opportunity cost of each division and company. Only project with positive NPV discounted by hurdle rate will be invested‚ and the total return of Marriott up to all projects invested. Though there are many subjective aspects in estimation
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Independents build links with accommodation providers so they can book rooms for their customers‚ they will have negotiates rates with accommodation providers especially if the agent does a lot of booking. An example of an accommodation provider is Ramada. Multiples A multiple
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© 2006 CORNELL UNIVERSITY DOI: 10.1177/0010880406289070 Volume 47‚ Issue 3 1-14 The Role of Brand Affiliation in Hotel Market Value by JOHN W. O’NEILL and QU XIAO The notion that a hotel’s brand contributes significantly to the property’s market value is supported by an analysis of nearly eleven hundred hotel transactions over the past fifteen years. The analysis found that brands added value beyond the usual contributors to a property’s value‚ such as net operating income and revenue per available
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COMPANY INTRODUCTION www.htc21.co.kr Copyrightsⓒ 2010 Hospitality & Tourism Company CEO’s Message Education - Korea University (Bachelor of Science & Master of Finance) Experience - 1984- 1997 Samsung Group Shilla Hotel (Finance Dep.) Awards & Certificates - AHLA – Certificate of Supervision in Hospitality Industry - Best Hospitality Management Company Award by Korean Academic Society of Hospitality Administration ‚ Best Tourism Company Award by Tourism Sciences Organization -
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VACATIONS OF HONG KONG PEOPLE Hong Kong people love spending their vacations in a different city or country and they love experiencing others cultures. In early years‚ Hong Kong people travelled around through travel agencies; nowadays‚ they plan the trip and schedule by themselves because they would like to have a more flexible and special vacation. They do not only choose the places which they have not been to‚ but sometimes they will re-visit the places that they like the most and have a relaxing
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Case 1- Marriott Corporation: The Cost of Capital Some preliminary questions: 1. What do you think about Marriott’s policy of repurchasing shares? Repurchase whenever stock price < warranted equity value Does this mean the market is inefficient? 2. Why does Marriott manage rather than own hotel assets? Finding limited partners on a hotel project is equivalent to selling private equity in the project Is there any reason to
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EMERGING INDUSTRY PRACTICES IN HOSPITALITY OPERATIONS Dr. Kshitiz Sharma‚ Email i.d.- sharmak23@gmail.com ABSTRACT Hospitality business is in transition stage‚ shaping itself better‚ less expensive‚ more user and environment friendly and ethical in approach. It’s good for all of them who believe tourism and hospitality a sustainable product. The present study is on emerging trends in operational areas of hospitality and hotels particularly. The scope of the present study is limited to
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