CEO MEMO & INDIVIDUAL REFLECTION PAPER

CEO Memo & Individual Reflection Paper

CEO Memo & Individual Reflection Paper

Introduction

Conclusion

Memo from the Executive Team

To: Chief Executive Officer

From: Chief Financial Officer, Chief Human Capital Officer, Chief Marketing Officer, and Chief Operations Officer (Carlo, 2005).

Subject: Potential Acquisition

The executive team is equally concerned with the high salary and wages of the employees at the Italy hotel properties. It is possible to try to increase the rates of the guest rooms at these locations. If the rates of the guests are to be increased than we need to justify the increase. Several ways that would help is to evaluate other local hotels, the quality of the amenities, assess the condition of the guest rooms, and keeping the hotel competitive (Carlo, 2005). 

 In order to increase revenue, we would need to compare the rates of other areas hotels. Once we research the competitors' rates, then we must compare it to the hotel's current price structure. In addition, we should complete an assessment of the guest rooms of the hotel. This will include an evaluation of the quality of the amenities the rooms provide, such as: bedding, towels, flooring, window treatments, appliances, furnishings, and fixtures. The results of the assessment will help in determining whether or not these accommodations will support an increase in the rates of the rooms. Along with review the guest rooms, we also should examine the hotel site, as well as assess the customer base. It is important to determine whether the market is commercial or tourist. The commercial market serves the business and transient patronage. If guests are using the hotel as a vacation location, then they are classified under the tourist market. 

 Another focus would be keeping the hotel competitive. We would need to look at what the hotel offers: food service, fitness facilities, personal services, and recreational features. A property that is equipped with intriguing amenities will help the hotel to gain more increase in occupancy (Fulton, 2011).

Budgeting for training is one top priority. Our company will have to be prepared to do extensive training of our U.S and European workers. This means we need to be financial prepared for current and future training. Also, the employees might expect better compensation then what we provide for the workers in the U.S. and this could affect whether or not people will work for the hotel. Money has to be available to properly compensate these workers. These workers will want to feel like they have some job security (Fulton, 2011).

This concept is great. Purchasing a hotel in Italy, with a mixed culture providing the service is brilliant. Obviously the big question is money and how are we going to spend it. Before we can think about profit margins we have to look at what it will take to get things started. In the start up phase training is the most important. The money has to be spread out in a few areas such as, management and staff training-this will ...