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Students a hospitality facility development of your choice. An individual report outlines the project, its history, challenges and overall successes in terms of the perceived original goals, integration of sustainable design and practices and acc - Research Paper Example

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In case of asset management, the focus should be mainly on the requirements of the owners and based on that planning should be done to create value for themselves and also for the stakeholders of the hotel. This study aims to present a detailed analysis of the famous luxury…
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Students research a hospitality facility development of your choice. An individual report outlines the project, its history, challenges and overall successes in terms of the perceived original goals, integration of sustainable design and practices and acc
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Extract of sample "Students a hospitality facility development of your choice. An individual report outlines the project, its history, challenges and overall successes in terms of the perceived original goals, integration of sustainable design and practices and acc"

Download file to see previous pages A range of promotional strategies have been undertaken by the management to promote Bellagio as another name for luxury and beauty. Apart from this, the environmental aspect has also been given much importance and measures to optimize the usage of natural resources have been taken. 3000 rooms of Bellagio are always occupied round the year, so it is really difficult to get vacant rooms. This depicts that the over luxurious hotel does enormous business to earn good profit.
Hospitality or hotel industry is becoming complex day by day, and this is the reason why asset management occupation is evolving. In order to understand the genesis and present status of the hotel asset management segment, it is important to understand the hotel values of the owners. Based on the different asset management and related aspects of Hotel Bellagio, Las Vegas, this study has been designed to understand and analyze the history, challenges, success figures, sustainability, financial value, and economic viability of the hotel. The analysis would be in pretext to the concept of asset management in the hospitality or hotel industry (Singh, Kline, Ma and Beals, 2012, p. 326).
Asset management involves focusing on several tasks in the hospitality segment such as marketing strategies, guest satisfaction, maintenance, environmental efficiency, etc (THINK: Education, 2011, p.7). When the hospitality possessions are well planned and it includes all the essential assets, then it would not only create value for its owners, but also for its other stakeholders as well. The stakeholders are the employees, guests or customers, investors, owners or shareholders, and the society at large. The functions of asset management department are; firstly to look after the daily management activities of the hotel or estate, second is to preserve and take the responsibilities of the physical assets of the hotel.
Bellagio was opened by Steve Wynn and his company called Mirage Resort Inc. ...Download file to see next pagesRead More
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