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| [[Category:Hotel info]] __NOTOC__ __NOEDITSECTION__ [[Category:Checked]]
| | {{Header Game play}} |
| ''→ Go! [[:Category:Hotel info]]'' <br>
| | <br>The [[Team File|Team File]], with a private login link, is crucial to your team in running the hotel. In this Team File you will find four tabs: |
| {{Running competition}}<br><br> | | * Tab [[Year 0]] where you do all your Strategic choices, introduce your hotel, strategy etc. |
| The [[Team file|Team File]] which you have a private login link to. In this file you will find four tabs: | | * Tab [[Year 1-2-3-4]] where you take your decisions each year and give [[explanations]] each year, after your Strategic choices in Year 0. |
| * tab [[preparation]] where you start, introduce your hotel, strategy etc. | | * Tab [[dashboard]] where you can find an overview of the most important financial results. |
| * tab [[decisions]] where you, after the preparation make your decisions and give [[explanations]] each year. | | * Tab [[results]] where you find an operating review and other details on results and costs after each year. |
| * tab [[dashboard]] where you can find an overview of the most important financial results | |
| * tab [[results]] where your find an operating review and other details on results and costs after each year | |
| <br>After a year has passed,the new dashboard and the results will only be visible after releasing by your coach. <br>
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| There is a [[Demo team]] you can check, with a filled out Team File.
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| == Costs and results ==__NOEDITSECTION__
| | <br>After a year has passed, the new dashboard and the results will only be visible after releasing by your coach. <br> |
| If a year has passed, you will see the results, only after the time communicated. With the costs mentioned above and the revenues made in the past, the results of Emerald Forest Hotel were realized. You can find this in the dashboard and at the tab Results in your Team Finances and more explanations here in the file [[results]]. So, if you change the costs (increase the expenses), understand that you have to earn these extra costs back (or your profit will go down rapidly)! <br>
| | There is a [[Demo Team File]] you can check, with a filled out Team File at the end of an example Game. |
| | <br>Each competition is set-up is a specific way: so check your competition's assignment and timeline for details. <br> |
| | You will see some 'locked' symbols on the tabs of your Team File: don't worry. On the tabs year 0 and tab year 1-2-3-4 you can edit in the indicated cells. Do be careful in handling the file, it is a spreadsheet. <br> |
| | The tabs Dashboard and Results you can never edit. |
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| Compensating for the extra expenses or benefiting from them can only be done in a few ways: <br>
| | <br><center>[[Image:Team sheet tabs Emerald Forest Hotel.jpg|600px]] <br>''Team File tabs Emerald Forest Hotel'' </center> |
| - Make costs that -by making them- bring down ''other'' costs (for instance, in using ICT, less staff is needed); <br>
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| - More revenues by choosing higher prices, so a higher profit per sold product; <br>
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| - More revenues by achieving a higher occupancy-rate, so more sales.<br>
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| So fill out the decisions and explain clearly what you are aiming for in doing so. Do stick to the deadlines!
| | == Operating review ==__NOEDITSECTION__ |
| | If a year has passed, you will see the results on the tab 'Results', only if they are released. The [[dashboard]] is a graphical representation from a number of elements of the tab 'Results'. |
| | The next sections are offered: |
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| All the costs which you have made extra through your decisions will be brought directly to the [[results]] of the year you are playing and will be immediately visible there. This will be at the end of each playing year. <br>
| | [[Image:results_revenues_2021.jpg|thumb|600px|center| <center>''Example of the tab 'Results' with the operating review after year 0-1-2-3-4. ''</center>]] |
| Spending the maximum on all possible costs looks like a bad idea! You have to earn back all these expenses, so you will have to make clear choices and keep the profit in mind!
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| So the numbers mentioned are ''not'' a gift, nor a budget: it just gives you an indication of the (maximum) possibilities without getting in serious financial trouble. So, if you would decide to spend to the maximum on all options you could have in extra costs (per year):
| | The results of your hotel will be calculated automatically. You just have to analyse the results, you do not have to calculate them yourselves. The history gives you information on how the hotel performs as you take over, you cannot influence this, of course. |
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| * Decisions 1-5 are no expenses but bring revenues
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| * Decisions 6 maximum € 200,000
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| * Decisions 7 maximum € 100,000
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| * Decisions 8 maximum € 225,000 year 1 up to € 900,000 in year 4 as depreciations. Depending on your new investments.
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| * Decisions 9 maximum € 50,000
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| * Decisions 10 maximum € 100,000 <br><br>
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| The maximum grand total on expenses in the first year is a maximum of € 675,000. Keep in mind that the profit as you take over was € 486,307! The total costs was € 2,430,595. Creating all expenses will raise the costs by more than 29%! You probably will make a loss now as the additional costs exceed the profit you made in the past. So think of all the expenses well over and elaborate in the Team File on how your decisions will keep the company healthy. Hopefully the additional costs you make will also bring higher prices or a higher occupancy rate: but still be careful to go too far up with the costs without compensation in a higher price for instance. <br>
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| Once again, these are the maximum and any euro spend you have to earn yourself.
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| == All results ==__NOEDITSECTION__
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| There are also pages on the revenues per room: [[RevPOR]] and [[RevPAR]]. <br>
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| The results of your hotel will be calculated automatically by the accountant of your hotel. You just have to analyse the results, you do not have to calculate them yourselves. The history gives you information on how the hotel performs as you take over, you cannot influence this, of course. | |
| After each year they will be ready for you in your [[Team finances]] via the link in your [[Team file]].
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| Your results presented there will be divided into the next parts: | | Your results presented there will be divided into the next parts: |
| * The results, the operating review with | | * Your hotel price decisions |
| ** The Revenues | | You made them yourselves |
| ** The Costs: divided in costs fixed, costs variable and costs of your team's [[decisions]] | | * The operating review with: |
| ** Net profit
| | ** the Revenues per category; |
| * The elements [[Key metrics]], [[Top Research|Market information from Top Research]] and [[Short comment]] of your coach are explained in separate pages.
| | ** the Costs: divided in costs fixed (''You can not influence this''), costs variable (''linked to your occupancy rate'') and costs of your team's (''exactly your [[Year 1-2-3-4|Year 1-2-3-4 decisions]]''). |
| | | * Bonus or fines: this will be added up, or deducted from your net profit. |
| == How many costs can you make? How much can you spend? == __NOEDITSECTION__
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| Have a look further down on this page. In the past, there was a total of € 2,430,595 of costs made. Part of this is fixed costs. The profit was € 436,307.
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| So if you make new additional costs an indication is that this should not be more than last year's profit. But, if you have more occupancy or higher prices, you will have more revenues an can spend more. So in the simulation, we have limited the costs to a maximum: if you spend all to the max you can spend is an additional € 675,000 and with maximum investments up to € 1,350,000 in year 4. So, as in reality, the options are very uncertain.
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| == Operating review ==__NOEDITSECTION__
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| ''Please take into account that your hotel has 364 days (not 365) and some figures are rounded; we never use decimals, neither should you.<br>''<br>
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| At the end of each year, you will find in your Team Finances on the tab ''Results'' in your operating review. Your team (and your coach) are the only ones who can see these results. If a year has passed, you will see your results, as soon as they have been released by your coach.
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| You do not have to calculate anything in this operating review yourselves. You only take the decisions and the rest is automatically calculated for you. An extended [[algorithm]] calculates your occupancy rate depending on your decisions, your coach's mark (related to the quality of your explanations), the demand in the market and many other elements. Depending on your occupancy rate, you'll get more food & beverage and other revenues as well. <br>
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| All the fixed and variable costs will automatically be calculated related to your occupancy rate and your decisions. The costs of your team choices will also be automatically brought to your operating review and will be visible here as well. So the operating review brings you the financial results of your hotel.
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| == Revenues ==__NOEDITSECTION__
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| Revenues comprises the average (sales) prices times the number of booked rooms (occupancy rate). You can influence the prices, because you set them, while the occupancy rate is defined by all of your decisions and your explanations through an algorithm. The mark your coach gives to you for your performing as a team is influencing your occupancy rate heavily. The maximum occupancy rate would mean all 100 rooms occupied during all days, so 52 weeks x 100 rooms x 7 days = 36,400 room nights which is an illusion.
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| Check the situation for real via benchmarks and you will see that the margin in somewhere between 50% to 70% [[occupancy rate]].<br>
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| All food and beverages are considered to be caused by these guests: so the higher the occupancy rate, the more revenues you get from food and beverages.<br>
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| Banqueting an other revenues are separated revenue unit in the hotel. The sales prices in the past varied from a minimum of € 25 to a maximum of € 30 per person. You decide on the price of banqueting, so you do have some control. This gives you an indication: on the [[Banqueting]] page, you can find some more info, pictures and videos on banqueting. Other elements in this group are things like additional sales, renting out bikes, upgrades, storno-fees etc. All together a bit more than 8% of the total revenues.
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| [[Image:results_revenues_2015.jpg|thumb|600px|center| <center>''Revenues overview after four years.''</center>]]
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| The above situation is just an example of the revenues as they will be shown in the complete operating review. So this example shows the history (column B, history) which is the same for all teams as they start. After each year the next column (so the next year) will be available and filled out automatically. In this example this is just year 1 in column C. In the example all years have been filled out.
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| Underneath you'll find an overview which gives some more insights into the revenue structure, as far as information is available in the Bergman's administration. This all reflects the year before you take over, this will be your starting position.
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| <table border=1 cellpadding=8>
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| <tr><th>Revenues History</th></tr>
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| <tr><td>Rooms</td><td> Rooms revenues weekend</td><td> € 704,340</td><td> 24.56%</td></tr>
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| <tr><td></td><td> Rooms revenues weekdays</td><td> € 1,244,880</td><td> 43.42%</td><td> 67.98%</td></tr>
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| <tr><td>Food and beverage</td><td> F&B revenues weekend</td><td> € 266,080</td><td> 9.28%</td></tr>
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| <tr><td></td><td> F&B revenues weekdays</td><td> € 414,960</td><td> 14.47%</td><td> 23.75%</td></tr>
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| <tr><td>Banqueting and other revenues</td><td> Banqueting and other revenues</td><td> € 236,642</td><td> 8.25%</td><td> 8.25%</td></tr>
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| <tr><td>'''Total revenues'''</td><td> </td><td> '''€ 2,866,902''' </td><td> '''100%'''</td><td> '''100%'''</td></tr>
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| </table><br>
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| == Operating review costs ==__NOEDITSECTION__
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| The situation below is just an example of the costs as they will be shown in the final operating review. So this example shows the situations as you take over (column B) which is the same for all teams and as you take over. After each year the next column (so the next year) will be available and filled out automatically. In this example, this is just year 1 in column C.
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| [[Image:results_costs_2.jpg|thumb|600px|center| <center>''Costs as shown after all of the years.''</center>]]
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| Underneath you'll find an overview which gives further insights into the cost structure as far as information is available in the Bergman's administration. This all reflects the situation as you take over, this will be your starting position.
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| <table border=1 cellpadding=8>
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| <tr><th>'''Costs'''</th></tr>
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| <tr><td>'''Costs: fixed'''</td><td> Depreciation costs of existing assets</td><td> € 525,187</td><td> 34.64%</td></tr>
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| <tr><td></td><td> Fixed staff costs </td><td> € 550,271</td><td> 36.29%</td></tr>
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| <tr><td></td><td> Costs of premises</td><td> € 390,473</td><td> 25.75%</td></tr>
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| <tr><td></td><td> Insurance & interest costs</td><td> € 50,012</td><td> 03.29%</td></tr>
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| <tr><td>'''Total fixed costs'''</td><td></td><td> '''€ 1,515,943'''</td><td> '''100%'''</td><td> '''62.36%'''</td></tr>
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| <tr><td>'''Costs: variable'''<td> Variable staff costs</td><td> € 355,170</td><td> 38.95%</td></tr>
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| <tr><td></td><td> Laundry costs</td><td> € 118,390</td><td> 12.94%</td></tr>
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| <tr><td></td><td> Cleaning costs</td><td> € 236,780</td><td> 25.88%</td></tr>
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| <tr><td></td><td> F&B purchase costs</td><td> € 204,312</td><td> 22.33% </td></tr>
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| <tr><td>'''Total variable costs'''</td><td></td><td> '''€ 914,652''' </td><td> '''100%'''</td><td>'''37.63%'''</td></tr>
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| <tr><td>'''Costs: team decisions'''</td><td> Marketing expenses</td><td> € 0</td><td> 00.00%</td></tr>
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| <tr><td></td><td> Staff development expenses</td><td> € 0</td><td> 00.00%</td></tr>
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| <tr><td></td><td> Extra depreciations costs</td><td> € 0</td><td> 00.00%</td></tr>
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| <tr><td></td><td> Market research expenses</td><td> € 0</td><td> 00.00%</td></tr>
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| <tr><td></td><td> Other expenses</td><td> € 0</td><td> 00.00%</td></tr>
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| <tr><td>'''Total team decisions costs'''</td><td></td><td> '''€ 0''' </td><td> '''100%'''</td><td> '''00.00%'''</td></tr>
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| <tr><td></td><td></td><td></td></tr>
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| <tr><td>'''Total all costs'''</td><td></td><td> '''€ 2,430,595''' </td><td>'''€ 2,430,595''' </td><td> '''100%'''</td></tr>
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| </table><br>
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| The different costs groups are all mentioned in the operating review table above.
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| * Costs: fixed | |
| You cannot influence these costs at all. These are costs which will be created no matter what the occupancy rate is. Over the years there can be small fluctuations, but the amounts will stay almost the same.<br>
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| - Depreciation costs of existing assets: depreciations of all the assets especially the building, fixtures and fittings.<br>
| | Mouseover the cells in your Team File and you will get more information on the numbers. There is also much more detailed information in [[operating review]] and pages on the revenues per room: [[RevPOR]] and [[RevPAR]]. <br> |
| - Fixed staff costs: staff needed to run the hotel and which have to be paid even if there are no guests at all. <br>
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| - Costs of premises: costs of maintenance, repairs on small adaptions to the building and the parking lots.<br>
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| - Insurance & interest costs: costs for insurance for staff, building a liability and costs for mortgage and other loans. <br>
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| * Costs: variable
| | ==Key metrics ==__NOEDITSECTION__ |
| The variable costs will depend on the actual number of guests in the hotel so will only be filled out (automatically) after each year is finished. So there is a ratio between occupancy rate and all of these costs. You cannot influence this, but it will be influenced by the occupancy rate you have created with your way of managing. <br>
| | The second part shows all kind of other information and data. |
| - Variable staff costs: the more guest you have the more work here will be to be done and the more staff is needed. So additional costs. <br>
| | [[Image:results_2021.jpg|thumb|600px|center| <center>''Example Key metrics on tab Results after year 0 and four years passed by.''</center>]] |
| - Laundry costs: the more guest the more towels, bed linen etc. needed.<br>
| | * Your net profit this year, one of the most important elements. |
| - Cleaning costs: rooms need to be cleaned more often because of more guests and to be cleaned better.<br>
| | * A few ratios in [[Key metrics]] which give financial insights into the operation. |
| - F&B purchase costs: more guest means more breakfasts etc. for guest and more f&b for additional staff so the purchase costs go up.<br>
| | * Total net profit. This adds up the profit made over the years. You can not spend this. But this number is decisive in the competition on profit. |
| | | * Number of guests. |
| * Costs: team decisions
| | * Ranking of your hotel in competition on business (based on net profit) and total creativity (your average mark on this). <br> |
| All of your [[decisions]] numbers 6 -10 lead directly to expenses which can be seen directly on the costs side as expenses. They are directly connected to the choices you make in your [[decisions]] each year. As you can see in the past there were no expenses on these decisions. Of course, this was good for the profit but it will come back like a boomerang! So Christina urges you to use this costs group team decisions in an efficient way, though she knows this will probably lower the profit!
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| | | If you have bought information from [[Top Research]], you will find all kind of data concerning the market you are in. Keep this private, as you have paid for this and the information is also copyrighted. <br><br> |
| == Net profit ==__NOEDITSECTION__ | |
| The total costs will be deducted from the revenues. If there is a bonus or a fine this is added or deducted from the profit leading to the net profit. There is no VAT or other taxes in the city. There is no reserve and as there is no liquidity in the game, there is no need for spending them. The balance sheets just show the individual profit of each year in the operating review and the total of the net profit over the years. No worries about [[liquidity]]: you can invest and pay, though you cannot see the proper balance sheets. | |
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| [[Image:results_profit2.jpg|thumb|600px|center| <center>''Net profit \ as you take over.''</center>]] | |
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| In this example on taking over: <br>
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| - Total revenues were € 2,866,902<br>
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| - Total costs € 2,430,595<br>
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| - Net profit € 436,307<br>
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| For instance, in year 4 there is a bonus in this case, € 106,491 so this is added to the profit.<br>
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| So the net profit on taking over seems to be 15.21% of the revenues, a good and interesting result. <br>
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| But, the management did not make enough [[investments]] over the recent years, so the depreciation costs have been kind of low. There is no problem with liquidity at all. <br>
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| Furthermore, the [[Bergman family|Bergmans]] did not really consider themselves to be staff, so there are hardly any wages for them in the staff costs. Their income mainly originated from the net profit which they, partly, took out of the company, being the entrepreneurs.
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| == Net profit index == __NOEDITSECTION__
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| Each year you will see the net profit index of your team. This reflects how your team is doing, compared to the total of the market. The index starts at 100. If your results are above 100 you are 'beating the market', or outperforming the market. If in a year the index goes down or below 100, you are not necessarily doing a bad job, it is just that compared to the total market your net profit is not matching their growth or your dip is deeper than theirs.
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| == Ranking == __NOEDITSECTION__
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| The position you have each year is reflected here. <br>
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| There is ranking on the total net profit, so you can have any position depending on the number of hotels in your city. <br>
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| There is ranking on creativity, this is linked to what you have done in all of the years related to creativity and evaluated by your coach. You can have any position depending on the number of hotels in your city. <br>
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| == Calculate yourself? == __NOEDITSECTION__
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| If you want to make calculations yourself, you can, in the top menu download the Team Finances File as an Excel file. Store this one on your pc and you can do some calculations in this version (which now, of course, has no longer links to the real one and new changes in the online one). | |
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| <hr> | | <hr> |
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| ''→ GO! [[#top|Top of this page]]'' | | ''→ GO! [[#top|Top of this page]]'' |
| <center><small>''Emerald Forest Hotel'' offering an <font color="green">'''emerald''' </font color="green">hotel experience! | | <center><small>''Emerald Forest Hotel'' offering an <font color="green">'''emerald''' </font color="green">hotel experience! |
| | Run your own hotel in this management simulation.</small></center> | | | Run your own hotel in this management simulation.</small></center> |
