Mandarin Oriental

This is a result of a demand shift to the left related to a lack of available tenants for the apartments. The property management company has to decrease rental rates allowing the quantity supplied to decrease as well (University of Phoenix, 2012), creating a downward swing in the supply curve. The price of rentals decreased to create less quantity that is available for rent creating equilibrium and a decrease in surplus. This is a difficult decision to lower price significantly but will continue to create revenue for the property management company while decreasing supply of vacancy.

For instance, in the hospitality industry, the Hilton brand symbolises high-end properties, elevated quality of service and a unique guest experience. Brand name and brand image are essentially two factors that differentiate companies which operate in the same industry and market. Therefore, the brand name must be unique. Hotel companies like the Hilton have established strong national brands and seek to use them globally with an intention of increasing profits. Once its established as a global brand, the company has successfully created an international image that can lead to increased efficiency through branded marketing efforts and cost savings on a much larger scale. Nowadays with an increase in international travel, the competition among international hotel corporations is becoming a lot more competetive. Those tourists that travel to foreign countries tend to stay in one of the known hotel brands and their standardised quality of service. Hotel chains are motivated to maintain a high rate of global expansion as a key marketing strategy of creating brand loyalty (King,

The price of rentals decreased to create less quantity that is available for rent creating an equilibrium and decrease in surplus. This is a hard decision to lower the price significantly but will continue to create revenue for the property management company while decreasing supply of vacancy.

Goodlife Management experienced an increase in the demand curve of rental apartments due to the decrease in the rental rate. This shift in the demand curve would cause the equilibrium price to slightly increase because the demand curve would shift to the right and the supply curve would stay the same causing the price to fall higher upon that demand curve. The quantity of the apartments available would stay the same and ultimately would encourage the property manager to follow through with the decision to decrease the rental price. A great example of a shift in the supply curve occurred when the property manager was asked to rent all of the 2500 apartments available in order to obtain zero percent occupancy. With the increase of the monthly rental price, Goodlife Management shall have more incentive to lease more apartments to tenants. This shift in the supply curve would drive the equilibrium price in a more positive direction to further encourage the rental of more apartments. The quantity of apartments would obviously increase caused by the increase in the supply available for rent. Such a decision to rent additional apartments at a higher price would more than likely be a definite alternative as revenue shall increase as the vacancy rate gets closer to zero percent. Ebara Technologies, Inc. (ETI) is a nationwide corporation who manufactures vacuum pumps in which one of the corporate offices resides

This adjustment will continue until equilibrium is reached between the new demand curve and original supply curve. At the new equilibrium, the rental rate is higher than before, and the number of apartments demanded and supplied has increase (University of Phoenix, 2003).

Any business or company that uses Information Technology (IT) for its operation and is leveraging it for gaining competitive advantage also needs to think about other aspects of the technology. Technical advancement and innovations alone are not sufficient to make any business attractive. IT definitely plays a huge role in the highly competitive business world now than before because of the advancement in the area and various ways it can influence the rise or fall of the business.

Over the years, technology has become a major part for a business and for an individual as well. Technology has become so advance that it has made a major effect for the staff as well as for the customers. New technology has helped in many areas such as data and information storage, advertising, transportation and communication.

Innovations in technology can force a business to change just to keep up. Employees who have never used computers need to be trained to operate the new computer system. A business also can benefit by implementing a technological change. According to the Hotel Online website, the airlines

Technology has advanced and changed very rapidly. Our business world depends on the most recent technology. Technology impacts customers’ choices of buying because what costumers want is convenience and personal satisfied tastes.

There are 3 factors that will lead to variations in demand for rooms at a hotel, which are seasonal cycle, economic cycle and days of the week.

Seasonal factors also not greatly effect to business tourists. Because they frequently travel to the destinations for short time. Even in holiday periods or variation in climate are not the main factors to consider while they need to travel for their

To remain profitable, hotels must operate with around 65-70% capacity . Due to seasonality, political and economic events, some hotels are finding it difficult to maintain profitable occupancy levels and have started to provide services along multiple levels within the industry's

As mentioned earlier in Chapter 1, China Lodging Group is a multi-brand hotel group which as per now manages seven hotels with each having a specific target of customers. These Hotels are Hi Inn, Han Ting Hotel, Elan Hotel, Star-way Hotel, JI Hotel, Manxin Hotel, and Joya Hotel. Its mission statement is to create great brands of hotels that guests love. The group predicts to be owning over a quarter of the hotel market share in the next five years to come. The two major objectives that the company has set for the next five years to ensure that they attain their goal is to build one large five-star hotel in the heart of China Capital’s serene outskirts and to ensure that they hire enough

One of the most important parts of this financial plan is that rates be increased on weekends. In the information, it also stated that most customers visited on the weekends. If the prices were increased over the weekends, even if not by much, the hotel could make more revenues.

Service is the most important aspect when it comes to handling a hotel. A hotel’s main objective is to provide the best service and tend to all of the guests’ needs and requirements. If there is no service then there would be no business. When running a business, the costumer is always placed first. Poor services can results in a complaint from a guest. But that complaint can be used to better the business in the future.