Assignment
With regard to financial growth, how important is it for a hotel to provide variety or offer unique services to its clientèle? Identify some of the different concepts hotels have implemented to increase business. Can you think of an opportunity, either locally or nationally, in which a hotel can invest that would increase overall revenue? How would you determine if the cost of the project would be profitable in the long run? Choose a classmate's response to a question you did not answer and either ask for additional detail or clarification if you feel it is needed, or explain why you think their example may be ineffective.
What are the advantages of ensuring financial growth for a business? Do you see any added pressures or responsibilities that may come with a successful business? What benefit is most important to a growing business? Why would you choose that one benefit over the others? Comment on the benefits your classmates chose and add any personal experiences you may have had or heard about.
Assignment
Read the Case of Expansion for Brownstone on page 132.
Write a 400- to 600-word response addressing the following:
1. Utilizing the information covered in this chapter, list all growth options available to Brownstone Restaurants, Inc.
2. Analyze each expansion option and discuss the positive or negative impacts they could have on the restaurant's operations.
3. Which expansion option would you recommend to Brownstone Restaurants, Inc. and why?
Chapter 5 covers six different strategies that a hospitality company can pursue to achieve a steady growth in earnings. In this assignment I am not looking for generic definitions of each of the growth strategies. You can list them, but I want you to discussion each one as it pertains to the Brownstone.
For each strategy, identify the advantages and disadvantages of each option as it applies to this restaurant.
What I am looking for in this assignment is that you can apply what you have read in the chapter to this particular business case - Brownstone Restaurants.