Property Assets Management Project - Hospitality Industry - Case Study Example

PROPERTY ASSETS MANAGEMENT PROJECT Name Class Instructor Institution City State Date PROPERTY ASSETS MANAGEMENT PROJECT Introduction According to Garg (2006) Property management is a hard task but also very essential. It involves operation, control and overseeing good use of real estate to ensure proper accountability. For the last decade most individuals and appliances company have been working on energy efficiency in order to ensure that money is well spent (Norden 2007). This has been taken care by energy labeled products in the market. In this report I have focused on individual property. Good management of property can result effective of one resource this ranges from how we buy and how we save on cost to be incurred. I have discussed in detail cost incurred in making my premises, some of cost I have incurred due to misuse of resource and ways I can save these resources. Also I have explained methods I have used to buy products and how I plan to save for the future.Donada( 2009) says that as the hospitality industry is much growing a good asset and facility management is very essential to be able to stand up among the competitors who are in increase each day. In this report have also highlighted how we can use lesson learnt from my own house in managing a hospitality industry. Property description My house is located in my countryside farm of approximately 0.4 Ha. It covers approximately 2000 square feet with a small kitchen garden and a fairly garden for my kids. The house is also surrounded by trees to block the wind and also it located in a small hill, covered by vegetation to reduce damage by water and also reduce erosion. Due to adverse weather conditions in the area it is fitted with funs, house heaters and water heaters. It’s a two bedroom house with a porch stretching on the outside. It has a architectural design of a cottage with an exterior finishing of a siding. The house is designed to have one floor with primary roof pitch of 12:12 and a roof peak of 12 feet and 2 inches. The house has a width of 40 feet and depth of 34 feet and a total floor area of 1056 square feet. The total living area is 945 square feet with a kitchen, living room, study area washroom and two bedrooms. The house is has two doors each made of wood, it also fitted with an alarm system. The windows are also made of wood with window panes and each room has one bulb apart from the master bedroom which has three. There several security lights and flood lights round the house. The house has a slab foundation and used a truss roof framing. The house is connected to a water supply and electricity from municipal. The following shows materials used in house. Description Quality Total SITEWORK Site Clearing and Grading standard 850 Driveway, Walkway, Patio, Deck, Landscaping standard 2820 Site Electrical, Gas, Water, Sewer Utility Extensions standard 1305 FOUNDATION Home Foundation Walls standard 2262 Home Footings standard 953 Porch Foundation Walls standard 1284 Porch Footings standard 360 Excavation (foundations) standard 838 Excavation (crawlspace) standard 1459 Slab on Grade (home, garage, basement, crawlspace) standard 1279 BASEMENT Basement Excavation, Poured Concrete Walls/Footings, Drainage, Rigid Insulation standard 1000 SHELL CONSTRUCTION Home Floor Framing standard 10552 Porch Floor Structure standard 613 Home Roof Structure standard 9018 Porch Roof Structure standard 2426 Garage Roof Structure and Shingles standard 2500 Exterior Framing Stud Walls, Insulation, Sheathing; House Wrap standard 8999 Exterior Wall Finish Material standard 7210 Special Trim Complexity standard 0 Exterior Windows, Trim standard 7478 Exterior Passage Doors, Door wall, Overhead Garage Doors, Trim standard 647 Home Roofing Shingles standard 3011 Porch Roofing Shingles standard 497 Roof Guttering standard 235 Special Roof Valley standard 450 Roofing Soffit and Fascia standard 3056 Attic Insulation standard 1006 SPECIAL SPACES Kitchen Cabinetry, Countertops, Flooring standard 4917 Master Bathroom Cabinetry, Mirror, Countertops, Flooring standard 4231 Full Bathroom Cabinetry, Mirror, Countertops, Flooring standard 2443 Half Bath Cabinetry, Mirror, Countertops, Flooring standard 326 INTERIOR 2x4 Interior Wall Framing standard 2183 Stair Construction standard 1275 Railing and Balusters standard 1091 Interior Doors, Hardware, Trim and Finishing standard 4260 Baseboard Molding and Finishing standard 1435 Interior Drywall: Walls standard 2912 Interior Wall Primer and Painted Finish standard 1922 Interior Drywall: Ceiling standard 5575 Porch Ceiling Surfaces standard 1033 Interior Ceiling Primer and Painted Finish standard 857 Interior Floor Finishes standard 6295 PLUMBING Water Supply, Distribution, Waste, Water Heater standard 3076 Bathroom Fixtures (Master Bath): Sink/Faucet, Toilet, Tub/Shower, Supply/Waste/Vent standard 3186 Bathroom Fixtures (Full Bath): Sink, Faucet, Toilet, Tub/Shower, Supply, Waste, Vent standard 2173 Bathroom Fixtures (Half Baths): Pedestal Sink, Faucet, Supply, Waste, Vent standard 590 Bathroom Fixtures (Half Baths): Toilet, Supply, Waste, Vent standard 585 Tub Enclosures standard 295 Kitchen Sink, Faucet, Garbage Disposal standard 825 Laundry Sink and Faucet standard 410 HVAC Equipment Efficiency Premium (High AFUE and/or SEER) standard 426 Air Infiltration Premium (Very Tight Home Construction, Heat Exchanger) standard 0 Gas Forced Air Furnace, Air Conditioning, Metal Ductwork standard 7347 Direct Vent Fireplace standard 0 ELECTRICAL Electrical Service, Power Panel, Distribution standard 2839 Fixed Lighting standard 1919 Security System, Hard Wired Fire / Smoke Detection standard 410 APPLIANCES Refrigerator/Freezer, Dishwasher, Stove, Exhaust Hood, Washer / Dryer standard 3916 Closet Systems standard 1849 Special Construction standard 100 GENERAL CONTRACTING Contractor General Conditions, Site Supervision, Overhead and Profit standard 19217 total sum 161616 According to Chan (2001) and (2003) in maintenance practices and performance of hotel buildings he explains that good building is essential in success of hotel . From my house construction in designing a hotel plan it should be designed in such a way there less cost incurred. Unlike mine the place should be of less natural calamities to avoid destruction also tit should be flat to ensure that there is less cost on ground leveling and less contractor fees. The appliances should not be in excess in the room for easier tiding and more comfort.(Lamminki 2008) Following diagrams shows house design and plan Appliances cost and usage appliance Usage in dollars Refrigerator/ freezer 12 Closet systems 2 stove 22 Dish washer 14 Door bell 2 microwave 20 Extractor fan 9 Washing machine 10 cooker 12 Heaters 20 Security lights 12 Air conditioner 15 TV and music appliances 11 Electric fires 10 Water consumption 57 Total monthly cost 228 annual 2736 In a hotel cost incurred is the major limiting factor for its growth (Lind 2009). In asset and facility management in a hotel I would ensure they are less cost to be incurred for increased profitability. This can be cut by buying product that is easy to maintain reducing costs. Energy consumption In an average household energy can be consumed in large number as every room needs some lighting Defra (2008). When you consider the number of rooms and the bulbs in each room this can be using lot of energy. In my house they exist a electric fire in which the only way I save is by switching it off during the day. My house has 2 heaters which I use especially in winter and consume a lot of energy. Having children TV and other entertainment appliances are ever on throughout the day hence consuming more. Water is a basic need and used frequently and excessively due to two bath tab present in the use. Appliances such as fans for cooling, electric cookers and freezers also are high consumers of energy. This is evident by a bill of average of 2736 dollars annually compared to average of 2300 expected to be paid as per salary I earn(Emmert, 2010). Living in sub urban area has contributed to these increased costs but with good management would result to less cost. In management the location, intended customersand features of a hotel can be used in determining the price to be charged as some are very expensive to acquire and maintain (House of Commons 2009), How to save energy Energy consumption is very important this should be done by replacing all the ordinary bulbs with the energy saving bulbs to reduce the usage of energy that is wasted. Energy can also be saved by considering the number of bulbs that are in the whole house and outside. This can be done by eliminating bulbs in the corridors that are not used frequently and also placing the security lights at a strategic point (Noden 2007) . It is also important to ensure minimal usage of energy. Rooms and other places should be fitted with monitoring devices to ensure proper accountability (DECC 2011). Another major issue is use of energy in the kitchen whereby we have some alternative source of energy like use of charcoal, natural resources such as biogas is good way to save on energy. Considering warming the house the electrical heat fans can be replaced by use of recycled material to make fire. A solar system can also be placed in the building to provide an alternative source of power as it can be used in the same way as any other energy to heat water (Furge 2011). Purchasing decisions Before purchasing appliances it very essential to reason out and have a cost benefit analysis of buying the product (Richard 2000). When buying appliances in the house some of issues to consider are: 1. Purchasing methods. There many methods we can acquire appliances in our home these methods vary with the type of the product and availability in the market. Some of the methods are hire purchase in this method one buys item in installment in which after paying the final cost is when the item changes ownership. Music systems I used this method as it would be not be wise to spend more than 50% of my income on these as I had to pay other bills .other methods include cash buying in which you pay cash and sometimes get discounts. The last method is buying second hand products (Quinn 1999). Sometimes some essential items are expensive and can’t afford them hence going for the cheaper available in the market. 2. Cost associated Before acquiring any product it’s important to determine cost associated with it this includes the initial cost and maintenance power. Some products have high maintenance cost such usage, repairs and pollution to the environment.one should also check the resale or disposal of similar items (Patrick 1997) When acquiring products I bought products that are cheap and maintainable and are known for easier resale 3. Size and physical characteristics With small children items with open wires and very hot are not advisable. Depending on the size of the house and the ownership it’s good to buy products that will be able to integrate properly with the house. In the house layout it can be seen that there is space left so as the house looks neat and allow easy movement. (London 2009) Summary With the new technology available today, you can be able to construct a more improved house that can help in reduction of energy consumption, for example the use of energy saving bulbs. In terms of building a well-constructed house can also reduce energy cost if it has good ventilation that will not require use of fans to cool or warm the house. It could also be cheaper to set a solar system while planning your house since it be used as an alternative and cheaper source of energy. All these can cut down on cost hence more profit References Chan, K.T., Lee, R.H.K., & Burnett, J. (2001). "Maintenance Performance: A Case Study Of Hospitality Engineering Systems", Facilities, 19 (13/14) 494 – 504 Chan, K. T., Lee, R.H.K., Burnett , J.(2003). “Maintenance Practices And Energy Performance Of Hotel Buildings”, Strategic Planning For Energy And The Environment, 23(1) 6-28. Donada, C., Nogatchewsky,G (2009). “Emotion In Outsourcing; An Empirical Study In Hotel Industry”, International Journal Of Hospitality Management, 28(30), 367-373 Garg,A., Deshmukh,S.G. (2006). "Maintenance Management: Literature Review And Directions", Journal Of Quality In Maintenance Engineering, 12 (3) 205 – 238 Garg,A., Deshmukh,S.G. (2006). "Maintenance Management: Literature Review And Directions", Journal Of Quality In Maintenance Engineering, 12 (3) 205 – 238 Hassanien, A., &Losekoot, E. (2002). "The Application Of Facilities Management Expertise To The Hotel Renovation Process", Facilities, 20 (7/8), 230 – 238 Lamminki, D. (2008). “Accounting And Management Of Outsourcing- An Empirical Study In Hotel Industry”, Management Accounting Research, 19(2) 1 Lind, H. &Muyingo, H. (2009).Is There Anything Special With Building Maintenance, Licentiate Thesis In Building And Real Estate Economics, Stockholm Lind, H &Muyingo, H. (2011), „Building Maintenance Strategies: Planning Under Uncertainty’ KTH Stockholm (Unpublished) Patrikjonsson, (1997) "The Status Of Maintenance Management In Swedish Manufacturing Firms", Journal Of Quality In Maintenance Engineering, Vol. 3 Iss: 4, Pp.233 – 2 Quinn, J.B., 1999. “Strategic Outsourcing: Leveraging Knowledge Capabilities”. Sloan Management Review 40 (4), 9–2 Richard C.M., Peter Tse, P., Ling, L., & Fung, F.(2000). "Enhancement Of Maintenance Management Through Benchmarking", Journal Of Quality In Maintenance Engineering, 6(4), 224 – 240 DECC (2011), Energy Trends December 2011, Department Of Energy And Climate Change, London, Accessed At Http://Www.Decc.Gov.Uk/Assets/Decc/11/Stats/Publications/ Energy-Trends/3917-Trends-Dec-2011.Pdf Defra (2008), A Framework For Pro-Environmental Behaviours Report, Department For Environment, Food And Rural Affairs, London, Accessed At Http://Www.Defra.Gov.Uk/ Publications/Fies/Pb13574-Behaviours-Report-080110.Pdf Emmert, S. Et Al (2010), Barenergy Final Report, Accessed At Http://Www.Barenergy.Eu/ Uploads/Media/Barenergy_Finalreport_Screen.Pdf Fudge, S. And Peters, M. (2011), Behaviour Change In The UK Climate Debate: An Assessment Of Responsibility, Agency And Political Dimensions, Sustainability, 3 (6), 789- 808. House Of Commons (2009), Programmes To Reduce Household Energy Consumption, House Of Commons Public Accounts Committee, Fifth Report Of Session, 2008–2009, London: The Stationery Offie, Accessed At Www.Publications.Parliament.Uk/Pa/ Cm200809/Cmselect/Cmpubacc/228/9780215526618.Pdf Norden (2007), Impact Of Energy Labelling On Household Appliances, Nordic Council Of Ministers, Copenhagen 2007, Accessed At Http://Www.Norden.Org/En/Publications/ Publikationer/2007-605/At_Download/Publicationfie Read More