Details
HOTS is an online hotel business simulation which encourages experiential learning in a financially safe and fun environment.
HOTS is ideal for those at Head of Department level and above seeking to gain a better understanding of strategic decision-making in a hotel environment and the impact on financial performance.
The game can also be used as a:
- * teaching aid in universities and colleges for developing knowledge of hotel businesses particularly financial reporting and revenue management
- * team building activity with middle to senior managers
- * learning tool for hospitality students seeking to learn more about managing a hotel business operation and the interpretation of financial information
Course Details
arena4finance is licensed to offer HOTS courses for Universities and industry. Whilst working with leading subject matter experts, the participants will develop their knowledge of managing a large scale hotel operation over a simulated period of up to 2 - 5 years. This takes place over a period of 1 - 3 days in a classroom style session. The performance of the hotel is evaluated throughout using financial and non-financial factors in a balanced scorecard format, giving participants the opportunity to analyse the cause and effects of the decision-making process in a financially safe environment.
The tool has been designed so that participants have the opportunity to make decisions concerning:
- Strategy Planning
- Finance Operations
- Revenue Management
- Sales & Marketing
- Human Resources
- Customer Care
- Environmental Management
Participants will have the opportunity to:
- Identify the current problems in the hotel and devise strategies to tackle them
- Develop and implement a business plan to achieve the targets set for the hotel
- Set policies and allocate resources on a monthly basis to ensure that the hotel’s targets and goals are met
- React appropriately to events in the market place
Extensive market research, as well as sales and financial reports passed on by the previous management, are available within the simulation to help participants in their decision-making and to provide an idea of the patterns of trade the hotel has recently experienced.
HOTS can be delivered in-house over one or two days or more depending on the needs of your organisation. The latest version of HOTS will be used, which, unlike previous versions, has additional revenue management features and environmental management decisions. The simulation is accompanied by workbooks with additional exercises, readings and resources.
Founded in March 2004, arena4finance specialises in the design and delivery of financial training and professional development for non-financial managers and career accountants.
Working with businesses of all sizes, both nationally and internationally, we are experienced in developing online and face-to-face courses and bespoke professional development programmes for businesses that want to improve their understanding of financial management and strategy; from understanding basic accounting through to working with profit and loss budgets, revenue forecasts and cash flows.
We are experienced in delivering financial awareness courses to a range of sectors including hospitality, construction, care home services, not for profit and restaurants & contract catering. Our current clients include Emirates Academy of Hospitality Management in Dubai, Institute of Hospitality, Jumeirah International, Whitbread, Les Roches Hotel School, Glion London, The University Caterers Organisation (TUCO) and Responsible Hospitality Partnership (RHP). arena4|finance has also been granted approved partner status with the Association for Public Service Excellence (APSE) to deliver courses on Food Cost Control and other finance topics. ...
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