Hyatt hotel -entrepreneur Essay Example for Free

Hyatt hotel -entrepreneur Essay How does it feel to stay in one of the most expensive and most luxurious hotels in the world? How does it feel to have all sorts of amenities and numerous variations that enhance the quality and satisfaction of a client’s stay at a hotel? No, it is not too good to be true since the establishment of the Hyatt Corporation in 1957. Hyatt’s first property called the Hyatt House was built at the International Airport of Los Angeles. Currently, there are over 215 Hyatt branded hotels and resorts in 43 different countries around the world. Hyatt Corporations includes the Hyatt, Grand Hyatt, Park Hyatt, and Hyatt Regency brands. Hyatt opened their first overseas hotel, the Hyatt Regency Hong Kong, in 1969. It was later on in the 1980s when the Park Hyatt and the Grand Hyatt brands were introduced. There are hotels located in many culturally diverse rich destinations that attract not only families, but also business travelers as well. These hotels include sophisticated technology, leisure, banquet, and conference facilities, and state of the art technology. Hyatt Corporations are most known for their deluxe and exclusive hotels located in major and secondary cities throughout the entire world. This international corporation has brought about more than 20,000 jobs opportunities for many around the world. It has provided excellent customer services and as an international hospitality industry, they also hold conferences, banquet parties, and catering events. It was not easy to set up an interview with the entrepreneur of this Grand Hyatt Hotel, Hyatt R. von Dehn, but I was able to meet him in person at a conference that was held at Park Hyatt Los Angeles. In the end, I was able to catch his attention for the last ten minutes with my curious questions. Mr. Von Dehn briefly explained to me that when he originally began his own business, he was tired of working for other dominating bosses and he knew that it took money, which he had enough, to make more money. In the early stage of the business, he was not expecting to make a lot back on his revenues, but with the support of his family he was able to preview and share the vision of success with them. This brought out one of the main key points that he told to me focus on when it came to starting up a business: you have to be a self-motivated entrepreneur. A word of advice which he gave me was, â€Å"When you want to launch a successful business, it all depends on your own potentials and nobody else’s. † Make sure you choose to invest on something that you enjoy and that you are very passionate on. Every business established has numerous amounts of regulations and limitations that one must comply to. For Hyatt Hotels, there are a list of thirty different sanitary regulation, protection for the physical plant, and one of the most known would be the American with Disabilities Act (ADA). Hotels have to quality and comply with certain requirement which the government demands. These obligations may be related to certain fixtures that can vary from ceilings, walls, and flooring to telephones, water fountains, to cables. Sometimes certain regulation are not entirely necessary, however, Mr. Von Dehn himself stated that anything that will benefit the hotels and its customers is something necessary. Of course, it is more convenient for his Hyatt hotels to have fewer regulations, but he also admitted that as a result of these detailed regulations, it has allowed Hyatt Hotels to rank so highly in the hospitality industry. Currently, the hotel tax rate is 6 percent and all Hyatt hotel owners, managers, and operators must collect taxes from their guests. Taxes are applied to every sleeping room that is being rented out. Certain main cities and different countries can vary on tax rates for the hotels, but it can vary up to 7 percent. Mr. Von Dehn did not specify what benefits he received from the taxes, but one thing that he would like to change are the rate of taxes in major cities and various countries. Despite the fact that raising 2 or 3 percent on tax rates may not seem as much, when a busy hotel receives a lot of customers and clients, they also have to pay a higher hotel rate. Personally, I agree with him. I think that there should only be a specific tax rate for hotels that should be applied to most hotels. Like mentioned before, Hyatt is a private owned corporation that has many branded hotels and resorts: Hyatt Regency, Grand Hyatt, Hyatt, Park Hyatt, and Hyatt Resorts. Hyatt Corporations are located within the United States, Canada, and the Caribbean. International Corporations have Hyatt hotels and resorts overseas, such as China, Italy, Japan, Saudi Arabia, and much more. According to the financial statements for the Global Hyatt Corporation, it was recorded that in 2005, hotels and resorts employed over 88,647 employees. Hyatt Hotels provide its employees with significant and beneficial wages, healthcare, and pension increases every year. Employees that do not get tipped can range from having a wage increase from $12. 10 to $14. 60 per hour. Servers and the housekeeping department receive $3-$5 per hour plus tips, but when business is seldom, their bosses will increase their hourly rate to minimum wage plus tips. Working on a long contract, employees may receive an average 7 percent annual increase on their salaries. Hyatt Corporation, Inc – annual income statement December 2005 December 2004. Revenue $11,555. 00 $10,099. 00 Cost of Goods Sold $10,242,00 $9,015. 00 Gross Profit $1,308. 00 $1,084. 00 Gross Profit Margin 11. 3% 10. 7% Operating Income $555. 00 $477. 00 Operating Margin 4. 8% 4. 7% Non-operating Income $268. 00 $304. 00 Non-operating Expenses $106. 00 $99. 00 Income Before Taxes $717. 00 $654. 00 Income Taxes $94. 00 $100. 00 Net Income After Taxes $623. 00 $554. 00 Total Net Income $669. 00 $596. 00 Net Profit Margin 5. 8% 5. 9% *US Dollar amount in millions Hyatt Corporation has an economic profit in the year 2005 compared to 2004. To begin, there is no negative profit and this already showed automatic sign of profitability. Hyatt’s stocks are currently worth $47. 26 per share. They made a profit of over $1,456,000 from year to the next. Before when the industry was first established, business may no seem to go as well. nevertheless, it has been over five decades since its establishment and every hotel, resort, and vacation club creates a positive income and a profit. The competition for the hotel industry is always tight and competitive. Certain competitors include the Marriot Hotels, Sheraton Hotels, Ritz Hotels, and Hilton Hotels. Hyatt Hotels is a perfect competition where every hospitality industry fights for the beset positions and the highest ranking. This form of business does not perform neither homogeneous nor differentiated products since it is a hotel industry. For other firms to enter this business, investors must qualify for certain acts and requirements. In the long run the firm is continuously growing and economically profiting annually. I would definitely invest on buying Hyatt stocks because I know that their industry is yet to increase. I have stayed at Hyatt Hotels myself and I can tell everyone that clients and customers need not to worry because this five star hotel provides perfect satisfaction and quality to everyone. WORK CITED: Bulletin, Manila. â€Å"Hyatt Regency GM Farid Alain Schoucair: Living One Day at a Time. † 8 June 2003. Little, Rebecca. Lodging: Avoiding ADA violations that can cost you. http://www. lodgingmagazine. com/index. cfm? fm=Article. Detailaid=54 2006. â€Å"The Five-Star Stars. † Business Asia. Vol. 8: September 2000.

Sexual Difference and Looking Through the Eyes of Mulvey, Penley, and H

Even though Mulvey presents some intriguing points on how psychoanalysis affects the way gender is viewed in regards to the look, her writing is restricted and one-dimensional in comparison to Constance Penley’s article, â€Å"Feminism, Film Theory, and the Bachelor Machines† (1985). Penley begins by focusing on the idea of the â€Å"bachelor machine:† a practice used from approximately 1850-1925 where â€Å"numerous artists, writers, and scientists imaginatively or in reality constructed anthropomorphized machines to represent the relation of the body to the social, the relation of sexes to each other, the structure of the psyche, or the workings of history.† It is a perpetually moving, self-sufficient system that, as Michael de Certeau states, has a chief distinction of â€Å"being male.† It also includes common themes of, â€Å"an ideal time and the magical possibility of its reversal (the time machine is an exemplary bachelor machine) electrifi cation, voyeurism, and masturbatory eroticism, the dream of the mechanical reproduction of art, and artificial birth or reanimation† (Stam and Miller, 456-457). This leads Penley to discuss a similar theory, that of the cinema as an apparatus itself, which focuses on the same characteristics of the bachelor machine. This theory is discussed through the writings of Jean-Louis Baudry and Christian Metz, but Penley points out that their works close off essential questions about sexual difference. Firstly, Penley informs her readers that, â€Å"in Baudry’s Freudian terms, the apparatus induces (as a result of the immobility of the spectator, the darkness of the theater, and the projection of the images from a place behind the spectator’s head) a total regression to an earlier developmental stage in which the subject hal... ...† (Stam and Miller, 470). Penley’s writing opens up some of the opinions Mulvey presents by examining the complexities of the cinematic apparatus and why that theory restricts female spectatorship as well. These writings are but only a dent in the complicated question on how gender affects spectatorship. As film critics and scholars have constantly been trying to answer this question, so they will continue to do so as long as women feel any kind of threat of male dominance. Works Cited Stam, Robert, and Toby Miller. "Chapter 25: Feminism, Film Theory and the Bachelor Machines (Constance Penley); Chapter 26: Visual Pleasure and Narrative Cinema (Laura Mulvey)." Film and Theory: An Anthology. Malden, Mass.: Blackwell, 2000. Print. Rear Window. Dir. Alfred Hitchcock. Perf. James Stewart, Grace Kelly, Wendell Corey. 1954. Paramount Pictures, Patron Inc., 1955. DVD.

Mongol Invasion of Europe

The Mongol invasion of Europe was a planned invasion of Eastern Europe. The Mongols invade Russia, Poland, Lithuania, Serbia, Byzantine, Bulgaria, Serbia, and Hungary. However, they later invaded Central Europe. Many believe that these invasions had no political or conquering point, but to scare other nations from invading Mongolia. Mongolia’s first conquer was Russia in 1235. Led by Batu Khan(grandson of Genghis), they ordered the Russian ruler Ryazan to surrender, and the Mongols sacked major cities. They annihilated Prince Yuri’s Army. After, they crushed the Russian steppe. In 1239, Batu Khan came back to Russia. Most Russian princes fled because the saw the Mongols’ strength. The Mongols then sacked Kiev(modern day-Ukraine), while Batu sent a small army to check out Poland before going to continue to central Europe. Shortly after, Batu defeated the polish army and went on Central Europe was invaded with 3 armies. The first army defeated forces from Poland and notably, some Christian military powers, at the battle of Legnica. In 1241, the armies defeated Hungary and brutally killed half of Hungary's population. They also conquered Croatia who was linked to Hungaria at the time. It was then that the Mongols suddenly ended their invasion. Some researchers say they ended their invasion because they saw the European strength to survive and turned back. Others blame Mongol fighting within the empire over the election of a new khan. However, they had later conquests against Poland, Lithuania, Byzantine Thrace, Bulgaria, Serbia, and once again Hungaria. One might say that the Mongol invasion was pointless, but it also accomplished their goal: to keep invaders out of Mongolia. One claim is that Batu Kahn never intended to advance past Mongolia/Croatia, because by then it was made clear that no one could overthrow Mongolia. In closing, the Mongols accomplished what they went to Europe for and Europe was devastated.

A Cross Country Analysis Of Public Debt Management Essay

PUBLIC DEBT A Cross-Country Analysis of Public Debt Management Strategies* Martin Melecky: Banking and Debt Management Department World Bank In order to finance expenditures on public goods and services that promote growth and increase nations welfare governments often have to borrow this decision of how much to borrow is that of fiscal policy which determines the targeted level of debt based on a sustainability analysis of government debt. The main cause for the increasing domestic debt and its utilization to finance revenue deficit, is the rigidity and the restricted scope for further expansion of the tax receipts and low nontax revenue to meet the growing non-developmental expenditure. This rise in non-developmental expenditure is attributed to interest payments and defense expenditure, accounting for nearly one-third of total expenditure. It is essential to understand the composition of domestic debt, an important feature of fiscal policy. Internal debt, small savings, provident funds, and reserve funds and deposits are the main constituents. With respect to India, internal debt of the central Government is secured u nder the Consolidated Fund of India and that of the States in the case of the State Governments. The structure of domestic debt has been fluctuating over time in India and the share of internal debt in domestic debt has been declining, but it still accounts for more than half of domestic debt. In India, external debt can only be incurred by the CentralShow MoreRelatedThe Political Forces Of The Country s Future Behaviour1705 Words   |  7 PagesCONTENTS OF ANALYSIS A – COUNTRY HISTORY In order to identify the key aspects that could interfere in the country’s future behaviour it is advisable to have some historical knowledge of that country. Highlights over the main historical data could provide a good comprehension about key factors which shape the behaviour of the society, the private sector, the government, the legal environment, the economical, and political relationships with the neighbouring nations and the world as a whole. TheRead MoreArticles Relating to Capital Structure-Essay1658 Words   |  7 PagesConclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..8 References/Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.9 â€Æ' Introduction On Capital Structure :- In the field of finance capital structure means a way an organization or firms finances their assets by the way of some mix and match of Equity, Debt or Hybrid Securities. The modern thinking on capital structure is based on the Modigliani-Miller theorem given by Franco Modigliani and Merton Miller. The theorem suggests that in a perfect market the total value of the company remains the same dependingRead MoreFinancial Capital Structure Essays1549 Words   |  7 PagesEvaluation of Articles Conclusion References/Bibliography Introduction On Capital Structure :- In the field of finance capital structure means a way an organization or firms finances their assets by the way of some mix and match of Equity, Debt or Hybrid Securities. The modern thinking on capital structure is based on the Modigliani-Miller theorem given by Franco Modigliani and Merton Miller. The theorem suggests that in a perfect market the total value of the company remains the same dependingRead MoreThe Operations, Problems and Prospect of Pos Adoption in Nigeria1070 Words   |  5 Pages CHAPTER ONE Introduction 1.1 Background to the Study The recent cashless policy of the Central Bank of Nigeria CBN has generated mixed reactions, controversies and public debates over the citizens’ preparedness and relevance of the policy. For1 instance, public argument on the one hand is that banking services in Nigeria are faced with low penetration, financial exclusion and poor infrastructure. Notwithstanding, the CBN has made it known that there is no going backRead MoreStarbucks Corporation1716 Words   |  7 PagesConclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 Reference †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 Appendix †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 11 Introduction Globalization greatly influenced businesses to expand worldwide. Cross boarder communications let people all around the world to exchange demand on services and products. Besides, countries opened boards to foreign investments. New type of business International and/or Multinational Corporations emerged to serve in a worldwide scope. The following report is just an introductionRead MoreEffects Of Foreign Direct Investment On Economic Growth1211 Words   |  5 PagesOctober, 2015 Effects of Foreign Direct Investment on Economic Growth in Ghana Abstract It has been widely believed that Foreign Direct Investment (FDI) assists developing countries with the much-needed capital for economic growth. Part of the foreign direct investment is the inflow of up to date technology and management skills. In this paper, I will investigate to what extent foreign direct investment inflows into Ghana affects the nation s Economic Growth and Development by addressing selectedRead MoreExchange Rates For Your Clients Case Study1300 Words   |  6 Pagesand Fiscal Policies †¢ Employees productivity †¢ Political Factor †¢ Dimensions the of international competitiveness (Agarwal, 2009). The possible reasons in which business are departing the country is the loss of profits. Therefore, with possibly prevent from repatriation through the host-country governing administration; they could be subject to taxes at an undesirable price, or perhaps the host governing administration may necessitate a percentage of the cash flow produced by the projectRead MoreImpact Of Political Connections On Performance And Financing Decisions Of Public Listed Companies2076 Words   |  9 Pagesdecisions of public listed companies. There is a large body of literature documenting the impacts of political connections on the firms; however most of the studies are focused on a single country; for example Fisman (2001), Mobarak and Purbasari (2006) on Indonesia, Johnson and Mitton (2003) on Malaysia, Agrawal and Knoeber (2001) on US and Sapienza (2004) on Italy. Faccio (2006) and Faccio, Masulis and McConnell (2006) however, used an international sample and a cross country analysis approach toR ead MoreCarlos Ghosn Leader of Nissan and Renault1647 Words   |  7 Pageswas able to turnaround Nissan from $254 million in losses and a debt of $19 billion. Even though he was not Japanese and faced many challenges, he was able to revive the ailing Japanese automobile company, Nissan, within two years. While in Japan, Carlos Ghosn made culture a priority, was able to adapt to the Japanese culture, and even received praises from the Japanese workers and public. Carlos Ghosn’s strategy of forming cross-functional teams among the Japanese workers was hard at first dueRead MoreYell Group Analysis2646 Words   |  11 Pagesare operating across countries. Yellow Page is a classified directory business in the UK, while Yellow Book is an independent directory business in the USA. These businesses are currently owned by British Telecom which is under pressure to reduce its heavy debt load and had been wavering for months about the future of these two Yellow Pages divisions. Ap ax Partner and Hick Muse are two private equity firms that are interested in the acquisition of the Yell Group by using debt for a majority of the