Difference between revisions of "36BE Creativity assignment year 1"
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{{36BE header general}} | {{36BE header general}} | ||
== | == Investment plan == | ||
In this assignment, you are | As is apparent from the hotel-intel provided to you by Ms. Jandal, the owners under-invested in the property. This may compromise the competitive position of the hotel. In this assignment, you are asked to prepare an investment plan. | ||
== Situation == | == Situation == | ||
As stated, the hotel is getting outdated and does have the liquidity to invest. Looking at the market and the cost structure, a maximum investment of € 900,000 is advised by the accountant of the hotel. Of course, here needs to be an exact plan on what to use this money for. First of all, you have to have a clear plan: what do you exactly want to do? Does this fit in with your strategy? Secondly, realize that investments bring costs, so will the revenues compensate the costs and will, in the end, the profit go up? <br> | |||
But what are you going to do? Are you going to renovate the sauna for example: what does this cost? There is only a limited number of hotel rooms upgraded and modernized, as you take over. Make a plan on how you are going to spend the €900,000 in the first year. | |||
== Goal == | == Goal == | ||
Elevate the hotel to a next level. Improve your organization in such a way that the investment pays off. | |||
== Task, deliverable == | == Task, deliverable == | ||
Investment Proposal, based on an innovation in services, operations, communication, information, sustainability, experiences, products, or in the actual product (the property itself). | |||
Make a clear plan on what you’re going to use the € 900,000 for. You can specify the investment and do the calculations and all in a spreadsheet.<br> | |||
Do not go too much in details on materials you need: but do make explicit cost groups for specific items or renovations. But no specifications underneath at least 200 euro. Always keep in mind and make clear how the money is being spent.<br> | |||
For example; if you want to renovate the sauna, or use part of the investment for a marketing campaign you should check the internet, or look at similar cases for the actual costs. An educated guess is required, so estimate the costs yourself, based on any comparable prices you have found. Try to be realistic, but as in reality 'how much does it cost' depend on so many things and is not easy to answer. | |||
== Assessed elements == | == Assessed elements == | ||
* | * Is the need explained, demonstrated? | ||
* | * Does the innovation show originality? Does it build on new trends and developments? | ||
* | * Are the proposals mutually consistent? Do they meet a real challenge? | ||
* | * Substantiation of the amounts (ballpark) | ||
* | * Timing and impact on financials | ||
* Is the balance between investments, ideas and renovations okay? | |||
* Are the calculations correct? | |||
* Did the team do research to find benchmarks and put things into perspective? | |||
* Are the arguments for the investment well-funded? | |||
* Are there enough real sources and prices? | |||
== Handing in == | == Handing in == | ||
| Line 38: | Line 35: | ||
* Be sure anyone with a link can access it without any login (!) | * Be sure anyone with a link can access it without any login (!) | ||
* Copy the link (only the link, not the document or content) to your Hotels Team File and put it in the row 47: additional information for your coach | * Copy the link (only the link, not the document or content) to your Hotels Team File and put it in the row 47: additional information for your coach | ||
* Copy the links to the two accounts in this location as well | |||
Furthermore, all other relevant information for your coach is welcome in this cell as well! | Furthermore, all other relevant information for your coach is welcome in this cell as well! | ||
== Additional information == | == Additional information == | ||
* | * [[Key metrics]] | ||
* | * [[Operating_review#All_Revenues|All revenues]] | ||
* [[Investments]] | |||
* [https://online.flipbuilder.com/lzsm/kawq/files/basic-html/page1.html Cost guide, might not work] | |||
* [[Renovations]] | |||
*[https://igroupdesign.com/four-steps-for-calculating-the-roi-of-your-hotel-renovation/ ROI and renovations] | |||
<br><hr> | <br><hr> | ||
Revision as of 22:22, 7 February 2021
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Investment plan
As is apparent from the hotel-intel provided to you by Ms. Jandal, the owners under-invested in the property. This may compromise the competitive position of the hotel. In this assignment, you are asked to prepare an investment plan.
Situation
As stated, the hotel is getting outdated and does have the liquidity to invest. Looking at the market and the cost structure, a maximum investment of € 900,000 is advised by the accountant of the hotel. Of course, here needs to be an exact plan on what to use this money for. First of all, you have to have a clear plan: what do you exactly want to do? Does this fit in with your strategy? Secondly, realize that investments bring costs, so will the revenues compensate the costs and will, in the end, the profit go up?
But what are you going to do? Are you going to renovate the sauna for example: what does this cost? There is only a limited number of hotel rooms upgraded and modernized, as you take over. Make a plan on how you are going to spend the €900,000 in the first year.
Goal
Elevate the hotel to a next level. Improve your organization in such a way that the investment pays off.
Task, deliverable
Investment Proposal, based on an innovation in services, operations, communication, information, sustainability, experiences, products, or in the actual product (the property itself).
Make a clear plan on what you’re going to use the € 900,000 for. You can specify the investment and do the calculations and all in a spreadsheet.
Do not go too much in details on materials you need: but do make explicit cost groups for specific items or renovations. But no specifications underneath at least 200 euro. Always keep in mind and make clear how the money is being spent.
For example; if you want to renovate the sauna, or use part of the investment for a marketing campaign you should check the internet, or look at similar cases for the actual costs. An educated guess is required, so estimate the costs yourself, based on any comparable prices you have found. Try to be realistic, but as in reality 'how much does it cost' depend on so many things and is not easy to answer.
Assessed elements
- Is the need explained, demonstrated?
- Does the innovation show originality? Does it build on new trends and developments?
- Are the proposals mutually consistent? Do they meet a real challenge?
- Substantiation of the amounts (ballpark)
- Timing and impact on financials
- Is the balance between investments, ideas and renovations okay?
- Are the calculations correct?
- Did the team do research to find benchmarks and put things into perspective?
- Are the arguments for the investment well-funded?
- Are there enough real sources and prices?
Handing in
Upload your work anywhere in the cloud (Dropbox e.g.: do not e-mail):
- Be sure the file is public
- Be sure anyone with a link can access it without any login (!)
- Copy the link (only the link, not the document or content) to your Hotels Team File and put it in the row 47: additional information for your coach
- Copy the links to the two accounts in this location as well
Furthermore, all other relevant information for your coach is welcome in this cell as well!
Additional information
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