42NL Year 3 Business assignment

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Decisions on prices and costs year 03

Check the page Year 1-2-3-4. During the years you have to take a number of decisions

  • on prices (five decisions)
  • on costs to be made (five other decisions)

Situation

On the page operating review you can see how the Emerald Forest has been managed in the past. You take over the hotel and have already chosen a new strategy. Now you choose the prices (five of them) which will bring revenues and the costs you are going to make on five specific choices.
All choices and boundaries are explained on the page Year 1-2-3-4 decisions. You will make all these decisions now for this year. After having seen

  • the results in your operating review of the years passed
  • read the info on this platform
  • making your plans and calculations

Your Team makes new decisions regarding year 3 in your Team File.

All the financial choices you make have consequences towards all stakeholders of your hotel. Make an overview of approx. 1-A4 in which you give a clear and logical overview of the types (!) of stakeholders you have in your hotel. Gives some examples of each group-type of stakeholders.

Tab year 1-2-3-4 in your Team File. Just an example of the 5 decisions on prices. The same goes for decisions on costs. The 'active' year will be 'yellow', a year which has passed will be grayed-out. Mouse over in row B gives you more info on the decision. You will also get an alert if the input is not okay. Be sure to explain in depth, with sources! and arguments and preferably calculations.
* This is the last year you will work on prices and costs *

Goal

Making decisions that fit-in with your new strategy and which will keep the Bergman's as well as the customer satisfied. Regarding the costs: all of the five cost groups have not been used in the history: all of these costs will be additional to the existing fixed and variable costs. Be careful to have a balance between the total of the (new) costs, the prices and your strategy. In the end, the idea is that you keep the profit on the level that the hotel used to have or make it go up.

Task, deliverable

Fill out all of the ten decisions in your Team File.
Do not copy paste prices or explanation in your team File from the year before! Make 'fresh', new explanations and even when prices are alike, type them in and do not copy paste.
The most important thing is the arguments you give in your Team File, underneath every decision. Why did you choose them? Try to find benchmarks, put URL or links in, make basic calculations, try to predict the outcome of your decisions.
Especially looking at the costs: these are going to be additional:

  • exactly what are you going to spend the money on? and,
  • what do you think it will bring your hotel? Be concrete, also calculate.

Assessed elements

  • Is there a clear link to the stakeholders?
  • Are all choices made and within the boundaries set?
  • Are the arguments valid?
  • Is it clear what the costs are spent on exactly?
  • Are there basic calculations done to show the effect of the choices at each choice?
  • Is there a link to what happened in the history?

Handing in

Upload your stakeholder overview somewhere in the cloud. Make a link to this document, be sure the document is 'public', so the links work for anyone. Put the link in your Team File in cel F47.
The prices, cost and explanations in your Team File. You work in the cloud in your Team File: no need to save, this is done automatically. Just be sure it is ready, well before the deadline.

Additional information



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