HOTS Simulation Reflection Paper
Course Code: HOSF 2084
EXECUTIVE SUMMARY (maximum 200 words). This is an example, you must create your own.
The strategic hotel investment capstone course was and is an intellectual way of implementing what I’ve learned during the two years from the hotel management program at George Brown College.
I always desired to experience the role of a leader and managing a business on my own; this course has given me the closest experience to how it would be in reality. My future goal is to one day own a hospitality related business since I am so passionate about this industry, mainly focusing on motels, hotels and conference/banquet venues. I have learned and gained knowledge on how to manage a hotel by making strategic decisions that not only effects the business but also people as well. This course has opened my eyes and exposed me to the monetary infrastructure that keeps the business alive and
operating in order to provide the exceptional experience that people want and are willing to pay more and more for the better experience. This course gives you an insight on how businesses operate in the hospitality industry. To really master the art of hospitality management I must practice what I have learned on a daily basis throughout life and
keep gaining experience. Strategic hotel investment capstone truly helped me realize what I need to improve on to correct my past decisions and also what to expect in the future regarding hotel operations.
YEAR ON YEAR PERFORMANCE (includes ONLY ONE chart as shown below and a 200 words paragraph).
|ADR Occ% RevPar|
|Staff Turnover % F&B Revenue F&B Profit|
|Marketing Expenses Marketing ROI Rooms Marketing ROI F&B EMS Expenses|
|EMS ROI Hotel|
|Cash on Hand|
Below this chart you will include a 200 words paragraph explaining with your own words the overall progress and final results of your hotel, based on the Year on Year Performance Chart you created.
POTENTIAL IMPROVEMENT FOR HOTS SIMULATION (maximum 150 words). This is an example, you must create your own.
The HOTS Simulation is an excellent way to really understand and get an idea of how a hotel is managed and operated to have a successful business. I think that some improvements or additions can be made to the simulation course to enhance the learning process. Financial areas should be more focused on strictly regarding shareholder benefits and how an investor can gain more out of the business and also the loan process should have more detail. The social media aspect of the simulation needs to have more value considering that online marketing is one of the most valuable and advancing areas,
which generates public awareness and market image of any business. The Environmental Management Systems need to be elaborated upon and should be incorporated into monthly indicators so users can see how much money is being saved on a monthly basis.
WHAT HAVE I LEARNED FROM THE CAPSTONE (TECHNICAL SKILLS)?
(maximum 200 words). This is an example, you must create your own.
In terms of what I have learned from the process of managing and operating my own hotel in the HOTS Simulation, I realized setting goals for the organization is very important. I tried to cater towards many different markets instead of focusing on one and mastering that certain market before moving on to the next target market. I incorporated many Environmental Management Systems within The Dynasty Hotel predicting it would reduce my expenses by significant amounts. EMS’s are beneficial to businesses that set a goal for being environmentally friendly and try to be known for its efficiency.
Regarding my hotel, becoming an environmentally friendly hotel wasn’t my top priority; I wanted to be more of an upper scale hotel rather than eco-friendly. I made substantial amounts of capital investments into EMS’s which didn’t fulfill my expectations, it prevented me from having positive working capital, I used most of my money during the first year when that money could have come in use during the second year.
WHAT HAVE I LEARNED FROM THE CAPSTONE (SELF DEVELOPMENT SKILLS)? (Maximum 200 words). This is an example, you must create your own.
My personal reaction to this course was positive and exciting. Choosing this course was a very good choice for me because it gave me the opportunity to really test my skills, knowledge and also determine what I need to progress and improve in to be successful in problem solving and critical strategic decision-making. I must agree that I like the operation of the HOTS Simulation since it’s similar to a brain testing game; I considered it a challenge for myself to generate enough profits possible to really get an insight of my own ability to manage a business in the future. The most surprising aspect of the simulation is how every decision made correlates with every department of the hotel, the system can figure out whether or not if random decisions are made or strategic ones. Certain aspects of managing the hotel angered me; results would really confuse me because of the drastic changes between monthly occupancy and monthly Income before income taxes. I would generate higher revenue than the previous months but my
expenses would increase more than the revenue would increase. In future terms, the material or knowledge gained from this simulation course will definitely benefit me in the long run because I now know what type of information needs to be taken into consideration and what type of decisions have to be made. Critical thinking is crucial when deciding on the well-being of an organization especially when you dedicate your life towards in reality, this course has helped me develop these skills and will make me prepared for the industry. This course has given me the ability to express my exceptional experience due to the debt of knowledge inherited from this simulation.
HOW WILL I USE WHAT I LEARNED (BOTH TECHNICAL AND PERSONAL) IN THE NEAR FUTURE? (maximum 200 words).
Your own, personal thoughts.
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