Room For Profit

This new edition of Profit Planning is ideal for hotel, restaurant and licensed house managers as it focuses on profit planning, the major area of finance which the general manager needs to get to grips with. The practical aspects of day-to-day profit planning are emphasized, which means that the reader can understand the approach with the minimum of theory and technical jargon. The examples and illustrations used can easily be translated into all aspects of the hospitality industry, so this book has a wide appeal. Unit managers now have high levels of finance responsibility at an early stage in their career. This reflects the growth in strongly branded and market oriented chains of pubs and restaurants which need to achieve swift returns on their investments. The financial management skills expected of unit managers are therefore growing in sophistication and this new edition takes full account of this.

The International Encyclopedia of Hospitality Management covers all of the relevant issues in the field of hospitality management from both a sectoral level: * Lodging * Restaurants * Clubs * Time-share * Conventions As well as a functional one: * Accounting & finance * Marketing * Human resources * Information technology * Facilities management Its unique user-friendly structure enables readers to find exactly the information they require at a glance; whether they require broad detail which takes a more cross-sectional view across each subject field, or more focussed information which looks closely at specific topics and issues within the hospitality industry today. Section Editors: Peter Harris - ACCOUNTING & FINANCE Oxford Brookes University, UK Zheng Gu - ACCOUNTING & FINANCE University of Nevada, Las Vegas, USA Randall Upchurch - CLUB MANAGEMENT & TIMESHARE MANAGEMENT University of Central Florida, USA Patti Shock - EVENT MANAGEMENT University of Nevada, Las Vegas, USA Deborah Breiter - EVENT MANAGEMENT University of Central Florida, USA David Stipanuk - FACILITIES MANAGEMENT Cornell University, USA Darren Lee-Ross - HUMAN RESOURCES MANAGEMENT James Cook University, Australia Gill Maxwell - HUMAN RESOURCES MANAGEMENT Caledonian Glasgow University, UK Dimitrios Buhalis - INFORMATION TECHNOLOGY University of Surrey, UK Allan Stutts - LODGING MANAGEMENT American Intercontinental University, USA Stowe Shoemaker - MARKETING University of Houston, USA Linda Shea - MARKETING University of Massachusetts, USA Dennis Reynolds - RESTAURANTS & FOODSERVICE MANAGEMENT Washington State University, USA Arie Reichel - STRATEGIC MANAGEMENT Ben-Gurion University, Israel

The 2008 financial crisis led the whole world to ask questions of the financial industry. Why are wages in the financial industry so high? Are bonuses responsible for the financial crisis? Where do bonuses come from? Politicians and others urged people to believe that the crisis was the price of Wall Street’s greed and blamed the "bonus culture" prevalent in the financial industry. However, despite widespread condemnation and the threat of tighter regulation, bonuses in the industry have proven remarkably resilient. Wages, Bonuses and Appropriation of Profit in the Financial Industry provides an in-depth inquiry into the bonus system. Drawing on examples from France, the City and Wall Street, it explains how and why workers in the financial industry can receive such large bonuses. The book examines issues around incentives, morality and wealth-sharing among employees, including the rise of "the working rich" – those who have benefited the most from the high wages and large bonuses on offer to some employees. These people have achieved wealth through their work thanks to new forms of exploitation in our ever-more dematerialised economy. This book shows how the most mobile employees holding the most mobile assets can exploit the most immobile stakeholders. In a world where inequalities are rising sharply, this book is therefore an important study of one of the key contemporary issues. It will be of vital interest to those studying finance, banking or political economy.

The Moral Case for Profit Maximization argues that profit maximization is moral when businessmen seek to maximize profit by creating goods or services that are of objective value. Traditionally, profit maximization has been defended on economic grounds. Profit, economists argue, incentivizes businessmen to produce goods and services. In this view, businessmen do not need to be virtuous as long as they deliver the goods. It challenges the traditional defense of profit maximization, arguing that profit maximization is morally ambitious because it requires businessmen to form normative abstractions and to cultivate a virtuous character. In so doing, the author also challenges the moral basis of corporate social responsibility. Proponents of CSR argue that businessmen can do good while doing well. This book argues that businessmen already do good by maximizing profit, drawing upon the histories of the wheel, the refrigerator, and the shipping container, as well as the biographies of J. P. Morgan, John D. Rockefeller, and Thomas Edison to demonstrate the role of values in the creation of material goods and the role of the virtues in value creation. The author challenges readers to rethink the relationship between profit, value, and virtue.

This book is the first real inside look at the business of professional audio recording, which fuels a multibillion dollar global music industry. Industry pioneer Chris Stone, founder of the legendary Record Plant, provides hard-earned business strategies, guidelines, and advice on every aspect of launching and managing a professional audio recording business. This book is for every audio profit center - from the project studio in the garage to the multi-room diversified recording facility. With 30 years of practical business experience, Mr. Stone reveals the secrets of profitable survival in the pro audio world of today and tomorrow. Why be a player in the professional audio recording industry? What is the attraction and potential payoff? How big an operation are you contemplating? To succeed, one must categorize the various types and sizes of pro audio facilities and their customer bases. It is also essential to understand creative management, marketing, promotion, and the modern economics of pro audio. The professional of tomorrow anticipates recording for new media and is prepared for diversification. All of these issues and more are addressed in this book.

Draw a second income from Airbnb and the short term rental economy Room for Profit was published in 2017 by property CEO Gayle Roberts and award winning journalist Tristan Rutherford. Over 16 detailed chapters they describe how to profit from the $100bn short term rental industry by marketing your spare room, holiday home or entire house. Uniquely, Room for Profit features interviews with industry leaders including directors at TripAdvisor and onefinestay. And offers advice for any host in the global short rent market from Sydney to Sao Paulo, from New Delhi to New York. The most up-to-date, step-by-step guide to Airbnb, VRBO & Booking.com Today on Airbnb alone, over 500,000 guests with book a spare room, holiday home or entire house - some of them in your city or town. Buyers of this book include owners of villas, castles, treehouses and caravans - all have welcomed monthly rental incomes between $1,000 and $10,000 Includes advice from experts on rental space descriptions, legal issues, property photos and pricing strategies Plus extended section on dealing with negative reviews, customer feedback and forward marketing for 2018 Contains property rental tips from a dozen industry experts "Room for Profit contains customer care advice that wouldn't look out of place in a five star hotel." Bruce Cave, Former Group Chief Operating Officer, DeVere Group "In 2018 over 20% of accommodation bookings worldwide will be for short term rentals." Ian McHenry, CEO, Beyond Pricing "72% of TripAdvisor users would not consider booking a rental property that had zero reviews." Laurel Greatrix, Associate Director, TripAdvisor Rentals Room for Profit explains how to use the time-saving tools that deliver incredible rental income including HomeAway, Airbnb and Booking.com. Join the sharing economy's fastest growing sector by clicking Buy Now today.