1. Describe the “Uniform System of Accounts for the Lodging Industry, what is it? What is its purpose? What is the origin of the text? Is it currently in use? What are the advantages of using the uniform system?
2.Share your thoughts in an essay on what the most important part of a successful hospitality (hotel) operation is, support your decision with valid points as you understood them from time spent in class.
3. In a New York City hotel that is being built, would it be better to lease or operate a restaurant in the hotel? What are your reasons for your response?
4.Share some of the market segment categories that are the backbone of a hotel’s rooms revenue. Briefly describe the types of business one would likely find in those categories.
5. What are the advantages of owning and operating your own hotel assets? What are the potential drawbacks to being both owner and operator? Does it make sense to have an asset manager as an intermediary in an owner-operator model, or would it be more efficient to work without that position?
