Gr Hotels Essay

1102 Words5 Pages
GR Hotels Corporation For: Manny Bluenose, MBA V.P. Finance From: Chris Mell, CMA Controller Executive Summary GR Hotels Corporation is a privately-owned corporation, which operates two large mid-scale hotels, one in Montreal and one in Toronto. Due to the business increase opportunity in the accommodation industry, the Board of Directors decided for GR Hotels to strive to improve occupancy rates and attract more business travelers. The President and CEO, Andrew Mayd needs to investigate and prepare a three-year plan to achieve the new strategic goals. Therefore, the entire executive management team met in early January 2008 to discuss the new directives and three options were identified. The executive management team needs to research on these alternatives and prepare the report with the recommendations. Introduction Considering the positive trend for the hotel industry in Canada, the Board of Directors requested that GR Hotels should improve the occupancy rates and attract more business travelers. The shareholders had indicated that they are willing to invest up to $1 million in additional common shares if management demonstrates that the proposed investment will generate a minimum after-tax return of 15%. This report will analyze the performance of the company and will present the recommendation on the options identified by the executive team, an implementation plan and a conclusion. Vision/Mission Vision - GR Hotels are the hotels of choice for travellers in Canadian cities. Mission - GR Hotels provide clean, comfortable rooms and good quality services to business and pleasure travellers in Toronto and Montreal at competitive prices. The Vision and Mission statements are an insight of the stakeholders expectations and should be taken into consideration by the executive management team in presenting the investment
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