silver palace service project report
TRANSCRIPT
1
PREFACE
As we all know that not only in India but also in the world, Management is
needed to do any business, whether it is small or big. Even we can see management in
our home also,” Without management world can not possible.
In the developing Indian economy industries demand for manage &in the fair
way. B.B.A is that type of the course, which prepares the efficient administrators
required by the industry.
In B.B.A we have to undertake industrial visit. This industrial visit has played
important role in our syllabus as it winded our knowledge and experience by providing
a short training. From this visit we can learn how theoretical knowledge is applied
practically in different industries. For this purpose I have choose “HOTEL SILVER
PALACE” have prepared a report of the same.
2
DECLARATION
I, the undersigned , Miss Khushali Ghevariya, student of Vivekanand College of
commerce, management & computer, Rajkot studying in S.Y.B.B.A here by declare that
the project work presented in this report is my own work and has been carried out
under the supervision of Mr. Jatin Sheth of Vivekanand College, Rajkot.
This work has not been previously submitted to any other university for any to
Date:
Place: Rajkot
SIGN OF STUDENT
3
ACKNOWLEDGEMENT
First of all, I am very thankful to Saurashtra University for having such practical
subjects in our syllabus through which I can learn a lot about different department in
hotel.
I am also obliged to Mr. Jatin Sheth who guided us very well about how to make
project and what all things are to be kept in mind while preparing a project and what
all the information I required.
I would also like to thank the managing director and whole staff of “HOTEL
SILVER PALACE” who guided me about their hotel, which I am incorporated in this
report.
SIGN OF STUDENT
4
INDEX
S.R.No. PARTICULARS Pg.No.
1. GENERAL INFORMATION 5 – 14
2. FRONT OFFICE 16 – 30
3. SERVICES 31 – 35
4. FOOD & BEVERAGE DEPARTMENT 36 – 46
5. PERSONNEL DEPARTMENT 47 - 57
6. FINANCIAL DEPARTMENT 58 - 66
7. MARKETING DEPATMENT 67 - 77
8. ACHIVEMENT 78 – 79
9. FEATURE PLAN 80 – 81
10. S.W.O.T ANALYSIS 82 - 84
11. CONCLUSION 85 – 86
12. SUGGESTION 87 – 88
13. BIBLIOGRAPHY 89 – 90
5
6
INDEX
S.R.No PARTICULARS Pg No.
1. INTRODUTION 7
2. HOTAL AT A GLANCE 8
3. LOCATION PURPOSE 10
4. SIZE OF ORGANIZATION 11
5. FORM OF THE ORGANIZATION 12
6. EXITING MANAGING GROUP 13
7. HOTEL FACILITIES 14
7
INTRODUCTION
“HOTEL SILVER PALACE” among the premier business hotel in Rajkot, the
economic capital of Saurashtra is characterized by the traditional kathiawadi
hospitality. Mr. Atul Sheth Builders established the hotel in 10th Dec 1995. It is located
in the heart of the city, in the vicnity of exclusive mercantile&residential area of
Rajkot. SILVER PALACE provides the easy access to the airport & railway station, which
are just 3 kms away. Modern facility with finest hospitality makes it the ideal choice
amongst hotel in Rajkot for businessmen & tourist.
The hotel was extremely spacious carpeted room equipped with modern
amenities. All rooms offers en-suite facility, 29” interactive flat television with satellite
entertainment, individual air conditioning, hair dryer, minibar & direct dial STD/IDD
facility.
“HOTEL SILVER PALACE” leads hotel in Rajkot by setting standards of quality,
service & facilities. Express check-in, 24-hours room services, express laundry, valet
parking, safety deposited vaults, free airport transfer, doctor on call makes our stay
comfortable. Internet, e-mail, fax, travel, car rental & money exchange services are
available for our convenience.
“HOTEL SILVER PALACE” takes pride in being a host to a number of celebrities
including bollywood & telewood stars, cricketers, political leaders as well as corporate
barons and also being the most preferred hotel in Rajkot by the NIRs.
8
HOTEL AT A GLANC
Name of the Hotel : HOTEL SILVER PALACE
Year of establishment : 10th dec., 1995
Form of Organization : partnership firm
Size of organization : medium scale industry
Address : HOTEL SILVER PALACE,
Gondal Road,
Dr. Yagnik Road Corner,
Nr.Malaviya Petrol pump,
Rajkot-360001.
Location : Airport 3 kms, railway 2.5 kms
Phone No : +91-281-248 0008(8 lines)
Fax : +91-281-248 0009
Bankers : HDFC Bank
Turnover : 2.5 crores
9
Services : (1) Rooms- comfort rooms
standard rooms, deluxe rooms, exe
deluxe rooms.
(2) Restaurant- FLAVOURS
(3) Multi functional hall: For
business board/dealer meeting,
conference
engagement, celebration, family
reunion, 10 person for meetings &
celebration up to 150 people.
E-mail : [email protected]
Website : www.hotelsilverpalace.com
10
LOCATION PURPOSE
Selection of location is very important for any business unit. Because once it
would select, it will not to be change easily. The business in suitable area or a
production in “Industrial estates” is very useful tool for produces or industry to
increase profitability or decrease cost of production.
One of expert in this field remarks,” the location of plant should be field in such
a manner that people interested in this success can sell goods most profitability and
manufacture with least expenditure.”
HOTEL SILVER PALACE is strategically located close to the business hub of
Rajkot and in close vicnity of the airport, railway station & central bus station. It
provides an easy access to the industrial zones of Rajkot. The Rajkot city map can give
us an indication of the major roads, if we are traveling by a car.
LOCATION DISTANCE
AIRPORT 3 kms
RAILWAY STATION 2 kms
BUS STATION .5 kms
11
SIZE OF THE ORGANIZATION
According to the Indian company act, there main three types of industry.
Small scale industry
Medium scale industry
Large scale industry
The industry whose investment does exceed Rs. 3 crores is small-scale
industry. The industry whose capital investment is more than Rs. 3 crores and up to
about Rs. 100 crores are classified as medium scale industry. The industry whose
capital investment is more than Rs.100 crores are known as large scale industry.
THE HOTEL SILVER PALACE comes under the category of “medium scale
industry”.
12
FORM OF ORGANIZATION
The main business forms of organization are as follow.
Sole proprietorship
Partnership firm
Joint stoke company
THE HOTEL SILVER PALACE comes under the category of “partnership
firm”.
13
EXITING MANAGING GROUP
Chairman : HARSHIT PATEL
General manager : HITENDRA MAHETA
14
HOTEL FACILITIES
The HOTEL SILVER PALACE provides modern facilities with the finets hospitality
and service make it the ideal choice for the businessman and tourists. whether the
customer want luxury or best value. They have room to suit their environments.
Their main facilities are as follows.
Guest room facilities @ HOTEL SILVER PALACE Rajkot
Direct access internet
Laptop compatible digital safe
29” television and entertainment &news channel
Local & international television channels
Direct dial IDD telephone with data ports
Fully stoked minibar
Ensuite bathrooms with tub, hair dryer, cosmetic mirrors
Choice of double/ twin bed
Smoking/ non smoking rooms
Daily newspaper
The bible & The Bhagwad Geeta in each room
15
Concierge service @ the HOTEL SILVER PALACE Rajkot
Laundry & dry cleaning service
Safety deposited boxes
Tour & travel service
24 hrs room service
Food & dining facilities @ HOTEL SILVER PALACE Rajkot
Multi cuisine fine dining restaurant – FLAVOURS
24-hours in room dining
Banquets & Meetings @ HOTEL SILVER PALACE Rajkot
Ample meeting & banqueting space
Capacity up to 150 persons
16
17
INDEX
SR. No. PARTICULARS Pg. No.
1. INTRODUCTION 18
2. ORGANIZATION CHART 19
3. SERVICES OF FRONT OFFICE 20
4. PROCESS OF ROOM & RESERVATION 21
5. TYPES OF ROOM 24
6. TARIFF 29
7. TERM & CONDITION 30
18
INTRODUCTION
Generally front office is known as Reception. Front offices’ employees are also
one kind of the representative of the hotel.
The HOTEL SILVER PALACE provides the best services in reception. They
perform the duty of advance booking of room, present room booking. They arrange
birthday party, marriage party in the multi functional hall, sales all the type of room
i.e. comfort, standard, deluxe & exe deluxe. Thus, they try to satisfy all the
requirements of the customers.
19
ORGANIZATION CHART
Front office head
Front office
Receptionist Receptionist
20
SERVICES OF THE FRONT
OFFICE “The action of helping someone working for someone, system supplying a
public need and ready to assist someone when required.”
The HOTEL SILVER PALACE is perfectly suitable with this meaning because it
help the public by providing its services, by satisfying the public needs and also ready
to assist them whenever required.
Their main services are as follows.
Check-in
Check-out
Present room services
Reservation services
Outstanding payment is done by them.
Payment of luxury tax
21
PROCESS OF ROOM &
RESERVATION
There are main two types of method of room reservation.
Direct method
Indirect method
1. Direct method: Generally this method is used by the customers. In this method
customer is directly contact with the hotel to its front office and reserve the
room in advance or for present.
2. Indirect method: today in world people don’t have time to go to hotel & reserve
the room. But they can make the reservation through mobile phone, internet
etc.
In hotel SILVER PALACE the customers reserves the room by using indirect and
direct both the method. They make the reservation through net, telephone and
sometimes by friends also. They also make the reservation personally.
The following is the reservation form that the customers have to use when
they reserve their room through net.
22
RESERVATION
Thank you for your interest in Hotel Silver Palace. Please fill in your room
requirements. Our representative will contact you soon.
Checkout Dt:
Dec 5 2007
December
2014
S M T W T F S
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31
No. of
Rooms : Type Standard Room
23
Name :
TARIFF CLOSE
Room Type Single Double
Comfort 995 -
Standard 1495 1995
Deluxe 1795 2295
Exe Deluxe 1895 2395
All rate are in INR
INR Rs 350 for extra
person / bed.
Government taxes & levies
extra.
Rates are subject to
change without prior
notice.
24
TYPES OF ROOM
Hotel SILVER PALACE offers most luxurious accommodation in Rajkot.Each
room is elegantly well appointed and equipped with complete amenities including
individual air-conditioning, fully stocked minibars, direct dial IDD telephone, TV
with 24 hours satellite entertainment and news channels, upscale bathroom
amenities with hair dryers and cosmetic mirrors, separate hanging closets and
executive writing desk, giving you the most comfortable accommodation in Rajkot.
Contemporary design having touch of elegance with subtle of neutral colours,
soft & discrete lighting , plus décor and finest hospitality makes SILVER PALACE the
ideal for businessman and tourists.
Each guest receives personalized attention and services making we always
‘Feel at Home’. Bright smiles and silent efficiency always promise us best services
and welcome us every time.
There are main four types of rooms.
Comfort room
Standard room
Deluxe room
Exe deluxe room
25
Comfort Rooms :
These contemporary compact rooms at Silver
Palace offer clean and immensely enjoyable experience, suitable for business
visitors.
Facilities :
Single occupancy studio size
Fully stocked minibar
29" interactive television with satellite channels
Ensuite bathroom with bath tub
Executive writing desk
Direct dial IDD telephone
Hair dryer & cosmetic mirror
Upscale bathroom amenities
Electrical points in room & bathroom
Free morning newspaper
26
Standard Rooms :
Standard Rooms at Silver Palace Rajkot are
spacious rooms and features an elegant design, soft and
discrete lighting, offering great comfort and luxury, making
them suitable for business or casual visitors.
Facilities :
Double bed / Twin bed
Fully stocked minibar
29" flat interactive television with satellite channels
Ensuite bathroom
Executive writing desk
Direct dial IDD telephone
Hair dryer & cosmetic mirror
Upscale bathroom amenities
Electrical points in room & bathroom
Free morning newspaper
27
Deluxe Rooms :
Deluxe Rooms at Silver Palace Hotel are very
spacious with separate living and working areas, pampering you with that
extra bit of luxury to make your stay thoroughly comfortable.
Facilities :
Large Double bed
Fully stocked minibar
29" flat interactive television with satellite channels
Ensuite bathroom
Executive writing desk
Direct dial IDD telephone
Hair dryer & cosmetic mirror
Upscale bathroom amenities
Electrical points in room & bathroom
Free morning newspaper
28
Exe Deluxe Room :
Featuring a design that is residential as well
as functional, these stylish accommodation exudes a sense of warmth and
comfort and have been host to a number of celebrities including bollywood,
telewood stars as well as cricketers. These rooms offer the highest luxury
accommodation in Rajkot.
Facilities :
Large Double bed
Fully stocked minibar
29" flat interactive television with satellite channels
Ensuite bathroom
Executive writing desk
Direct dial IDD telephone
Hair dryer & cosmetic mirror
Upscale bathroom amenities
Electrical points in room & bathroom
Free morning newspaper
29
TARIFF AND POLICIES
Silver Palace pampers you with highest luxury and impeccable
service to make your stay completely restful and comfortable. To meet your varied
requirements Silver Palace offers rooms in varied categories, and you are sure to find a
room fitting your needs and budget.
Room Tariff :
Room Type Single Double
Comfort Room INR 995 -
Standard Room INR 1495 INR 1995
Deluxe Room INR 1795 INR 2295
Exe Deluxe Room INR 1895 INR 2395
INR Rs 350 for extra person / bed.
Government taxes & levies extra as applicable.
Rates are subject to change without prior notice.
30
TERMS AND CONDITION
Arrival and Departure :
Check-In - 1200 Hours
Early arrival is subject to availability. For guaranteed early check-in,
reservation needs to be made starting from the previous night.
Check-Out - 1200 Hours
Later check-outs are available on request and subject to availability.
Reservation Guarantee :
All bookings must be guaranteed at time of reservation by Credit Card or
Travel Agency. All major credit cards are accepted.
Cancellation :
Reservation must be cancelled 24 hours prior to the planned arrival time.
One night’s room charge will be levied in case of non- arrival.
Silver Palace pampers you with highest luxury and impeccable service to
make your stay completely restful and comfortable. To meet your varied
requirements Silver Palace offers rooms in varied categories, and you are sure to
find a room fitting your needs and budget.
31
32
INDEX
SR. No. PARTICULAR Pg. No.
1. INTRODUTION 33
2. WHAT IS SERVICES ? 34
3. SERVICES PROVIDED 35
33
INTRODUCTION
WHAT SERVICE MEANS?
Service has got different meaning or it can be understood in different
ways.
“The action of helping someone working for someone, system supplying
public need and ready to assist someone when required.”
The HOTEL SILVER PALACE provides the best services in Rajkot. It is
perfectly suitable for the customers. They also provide extra services, like a very
beautiful ‘FLAVOURS’ restaurant, banquet hall, multi functional hall etc.
34
WHAT IS SERVICE?
“The action of helping someone working for some one. System supplying a
public need and ready to assist someone when required.”
From the above meaning as any meaning can be considered or is
applicable for the service company, but the perfect meaning will be or can be the
combination of all the meanings.
The meaning of services is as under:
The service means an action of helping someone.
The action of working for someone.
A system supplying a public need.
Ready to assist someone when required.
From the above all meaning can be considered or is applicable for the service
company, industry of firm.
“THE HOTEL SILVER PALACE” is perfectly with this meaning because it helps
public by providing it’s facilities, by satisfying public needs, and also ready to assist
them whenever required.
35
SERVICES PROVIDED
Their main services are as follows :
Rooms and accommodation
FLAVOURS restaurant
Multi functional hall
The multi functional hall is for arranging birthday party, business
meetings, conference, engagement party etc.
1. BIRTHDAY PARTY: If someone wants to celebrate birthday in the SILVER PALACE
HOTEL, they are providing big Banquet hall named ‘BLOOMS’. They also arrange
music in the party, so the person can get both entertainment & food.
2. ENGAGEMENT PARTY: If someone wants to arrange the engagement party,
HOTEL SILVER PALACE is the suitable hotel for that. They specially decorate
whole the hall and arrange all the facilities that they want.
3. DANCE PARTY: In some festival they arrange dance party like on the ‘new year’s
eve’, ‘Christmas’ etc.
4. MEETING AND CONFERENCE HALL: they provide the multi functional hall
‘BLOOMS’ for the business meetings and conference. It is very convenient for
their customer also; they don’t have to go at far place for arranging meetings.
Thus, in HOTEL SILVER PALACE, guest receives personalized attention avd
service making them always ‘FEEL AT HOME’.
36
37
INDEX
SR. No PARTICULARS Pg. No.
1. INTRODUTION 38
2. ORGANAZATION CHART 39
3. TYPES OF FOOD 40
4. TYPES OF LUNCH 41
5. TABLE SERVICE 42
6. ROOM SERVIC FOR FOOD 43
7. QUALITY CONTROL 44
8. SPECIAL RAW MATERIAL 45
9. STORAGE 46
38
INTRODUCTION
The key department of the hotel is food department. If service
department provides the very nice services but food is not that much good, the
customer does not prefer that restaurant.
In the food & beverage department they, they have to make cleaning
everyday. They have to make cleaning everyday. They have to use best items for
making food. They have to taste quality &try to maintain quality; the main cooks
should have the experience ability to make best food.
The HOTEL SILVER PALACE has the special restaurant FLAVOURS for
providing tasty & spicy food items. They everyday use best items to survive the
customer. They always purchase the quality raw material. Their main food items are as
follows.
Chinese
Indian curry
Indian bread
Salad
Rice & dal
Continental/ Italian
Mexican
39
ORGANIZATION CHART
CHAIRMAN
MANAGENING DIRECTOR
GENERAL MANAGER
RESTAURANT MANAGER
KITCHEN HEAD BANQUET MANAGER SENIORCAPTAIN
40
TYPES OF FOOD
The list of all the food items for any occasion is as follows :
The HOTEL SILVER PALACE has multi cuisine Restaurant. There is a multi
type of food. They are provide vegetarian & non vegetarian. They are providing
different food dishes. The objective of hotel is provide best food & best quality to its
customer.
They provided following food dishes:
Thai
Italian
Chinese
Punjabi
Continental
South Indian
Fast food
41
TYPES OF LUNCH The price is matter depending upon the person. It defer from person to
person. The price is depending on the basis of food which person selects to eat?
The person select following lunch. They have to paid amount. In this lunch,
menu is fixing, food is unlimited.
Business lunch
Executive lunch
Special lunch
42
TABLE SERVICES
THE hotel silver palace provides the best table services to their customers.
When any customer comes. They give them welcome drink. After giving welcome drink
they give and then give menu. When customers give the order they provide
selected food to their customer within 20 to 25 minutes.
43
ROOM SERVICE FOR FOOD
Customer calls to room service department and give order for food. Room
service department take this order and make food – according order and give to
customer room within 20 minutes.
44
QUALITY CONTROL
For the quality control of the food they have the kitchen safe who is always
look after the quality of the food. He never compromise with its quality. He always try
his level best.
45
SPECIAL RAW MATERIAL
The HOTEL SILVER PALACE use the raw material which is very different from
other hotels. Their food products are very different from that of the other hotels.
46
STORAGE The HOTEL SILVER PALACE have storage department in which they store raw
material for making food.
The store keeper examine store at different different period of time like
stock of oil, sugar, tea & coffee. And other stoke examines on daily basis like
vegetables, milk etc.
After examine by the store keeper he make list of things, they will need.
The store keeper has to visit storage department & check out the stock.
Otherwise it creates difficulty for cooks. But the HOTEL SILVER PALACE has proper
management of food and beverage department. It is their strength
47
48
INDEX
SR. No. PARTICULARS Pg. No.
1. INTRODUTION
49
2. RECRUITMENT 50
3. SELECTION 51
4. TRAINING 52
5. PERFORMANCE APPRISAL 53
6. PERSONAL RECORD 54
7. WAGES & SALARY 55
8. EMPLOY BENEFIT 56
9. TIME KEEPING SYSTEM 57
49
INTRODUTION
As one author has rightly said 1+1 makes the organization. i.e. when there are
two or more persons there is an organization. Thus, the principle component of
organization is its ‘human resources’ or ‘people at work’. And the management of men
is a very important & challenging job. Thus, personnel management department is
emerged now a day very fastly in organization. personnel management is planning,
coordinating & controlling of the human resources. Thus, it is concerned with
managing people to ‘rank and file employees’ at work.
The definition of personnel management is as follows.
“Personnel management is the planning, organizing,
direction, controlling of the procurement, development, compensation, integration
and maintenance and separation of human resources to the end that individual
organizational and social objectives are accomplished.”
The internal department structure of personnel department varies widely
from one company to another. The personnel department has to function as a
medium to establish healthy relationship between the management and employees.
In HOTEL SILVER PALACE 30 workers are working.
50
RECRUITMENT
Recruitment is the process of attracting potential, qualified and competence
employee with required characteristics and a proper quality.
“Recruitment is the process of finding and attracting capable applicants for
employment.”
In simple term recruitment is understood as the process of searching for
obtaining applicant for job, from among whom the right people can be selected.
Recruitment is the process of selecting efficient and trustworthy employee who
Are willing to apply for the job. Recruitment aims to develop & maintain proper
manpower resources.
There mainly two sources of recruitment.
Internal recruitment
External recruitment
In past the HOTEL SILVER PALACE use the external source like advertisement
for the recruitment. But now a day they are using internal source like they give the
promotion to the current employee or make the transfer. They also recruit the
candidate by campus interview in VIVEKANAND HOTEL MANAGEMENT INSTITUTE,
Rajkot. They also recruit the candidate through mail.
51
SELECTION
When recruitment end selection starts. Selection is the second step in the process
of procurement of the people. It is the process of choosing the individual who posses
the necessary skills, abilities and personality of successfully till specific job in the
organization. Thus, in the other words it is problem of matching a man to the job.
“Selection is the process of picking individual from pull of applicant with necessary
qualification.”
52
TRINING
Training is the act of increasing the knowledge and skill of employee for doing a
particular job. It is the corner stone of sound management. It makes the employee and
techniques of production more effective. A part from this, it enables the employees to
develop and rise within the organization and increase their market value, earning
power and security.
“Training and development refer to importing of specific skills, abilities and
knowledge and performance of employee.”
In every organization, they train their employees after selection of person.
Training is a technique by which a management also gets the information that
employee is right for the job or not.
The HOTEL SILVER PALACE gives training to the new employee by senior
employees. They select they candidate who had done hotel management and they
give the training in their restaurant for few days.
53
PERFORMANCE APPRAISAL
SYSTEM
“Performance appraisal means person’s performance in the company.”
Ones the employees have been selected trained and motivated; he is then
appraisal for his performance. Performance appraisal is the step were the
management finds out how effective it has been at hiring and placing employee. A
performance appraisal consists of evaluating an employee’s performance of the job in
terms of its recruitment.
The “HOTEL SILVER PALACE” consider its employees as its most valuable and
therefore it believes in perfect and accurate performance appraisal system. They
believe that employee’s efficiency, productivity and great performance is a ladder to
success.
54
PERSONAL RECORDS
In personal records complete and up to date information is maintain about the
employees. Every unit have record book for employees in which they record the
information about the employee leave, working hours etc.
The HOTEL SILVER PALACE keeps the record of their employees like,
Personal bio-data
Attendance register
Salary-wages register
Casual leave register
55
WAGES AND SALARY
Mostly all the problems are counted by the employees, the more pressing
and persistent problem is that of remuneration in the form of salary or wages.
Wages and salary administration is the process by which wage and salary level
structured are determine in organizations. Wages are payment for labour,
services rendered frequently expressed in hourly, daily or weekly rates, while a
salary is similar payment expressed in monthly or annual rates.
In HOTEL SILVER PALACE the salary of utility boy is about Rs. 2000 only.
Then according to their designation, salary is given.
56
EMPLOYEES BENEFIT
HOTEL SILVER PALACE provides wealth of services that the person find
desirable and they are motivated to perform the best of their job and try to
increase the efficiency of the organization. Such service’s motivate the person
to do their job perfectly and help to fulfill their needs and thus it contribute to
maintain the satisfied workforce.
The following benefits provided by the SILVER PALACE.
They provide provident fund to their employees.
They also provide bonus on diwali
They also provide the dress and accommodation to their
employees.
They provide two-time tea, lunch and dinner also.
57
TIME KEEPING SYSTEM
As time factor plays the important role of control the cost of production and to
maximize the profit.
In the HOTEL SILVER PALACE they provide 24 hours room service.
58
59
INDEX
S.R.No. PARTICULARS Pg. No.
1. INTRODUTION
60
2. FINANCE PLANNING 61
3. FINANCE SOURCES 62
4. CAPITAL SOURCES 63
5. MANAGEMENT OF WORKING CAPITAL 64
6. MANAGEMENT OF FIXED ASSETS 65
7. PROFIT & LOSS A/C 66
60
INTRODUCTION Finance is the lifeblood of the business. Without finance business is like dead
body. Finance is concerned with everything that takes place into conduct a business.
Financial a\management is the custodian of corporate funds. It has to plan, organize &
control the finance of the enterprise. The chief duties of financial management are
however planning and control of corporate finance.
Investment decision
Financing decision of formulation of the best financing mix or capital structure
of the enterprise
Dividend decision or dividend policy
Financial management involves the implementation of these three major
decisions. Financial management makes use of analytical tools in the analysis.
Planning and control of the enterprise involves funds.
Financial management is the part of the management, which is concerned
with raising fund in the most economic and suitable manner.
At last financial department is a mirror of an industry or organization.
The banker of HOTEL SILVER PALACE is HDFC bank.
61
FINANCIAL PLANNING
In any field of the business, planning is the primary function of management.
The manager has to make plan for capital investment and also for working capital.
The financial manger has to frame long-term plan of capital investment. Any
imbalance in the long term planning will put the business into lots of difficulties in
future.
In HOTEL SILVER PALACE their financial planning is done by financial manger
every year. He is looking for everything like working capital, turnover ratio, ratio of
fixed and current assets, ratio of profit etc. then he makes the plan for additional
finance.
62
FINANCIAL SOURCES
Sources of finance mean that from where to funds and from where money
comes for industries and at sometime in which way it comes at the time of
requirements. Generally there are two source of finance i.e.
(1) Internal sources
(2) External sources
THE “ HOTEL SILVER PALACE” has both internal sources and external sources of
finance.
63
CAPITAL SOURCES
Capital structure is very important decision for company. Here, the company
determines the formation of capital or mixture of different types of term funds.
Capital structure refers to the composition of term sources of funds as
debenture, long-term debtors, preference share capital, and equity share capital and
retained earning i.e. reserve and surplus.
The B.O.D. or the financial manager of the companies should develop an
appropriate capital structure and this can be done only when all those factors, which
are relevant to the company’s capital structure decisions, are properly analyzed and
balanced.
The HOTEL SILVER PALACE has its own capital only. They have not bank loan.
Their current capital and turn over are as follows.
Current capital-1 crores
Turn over-2.5 crores
64
MANAGEMENT OF WORKING
CAPITAL
Working capital refers to the funds locked up, in materials, work-in -progress,
finished goods, and receivable and cash etc. since the assets are known as current
assets in very simple terms, “working capital may be defined as capital invested in
current assets.”
In other words working capital is that which is held to meet day-to-day
requirements of the business, which changes from day-to-day and which is converted
into cash continuously. The risk element is low in it.
There are two concept of working capital.
Gross Working Capital
Net Working Capital
In HOTEL SILVER PALCE they don’t have more working capital because their
transaction are mainly based on bank. So their working capital is low. The working
capital of the hotel is Rs. 1 crores.
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MANAGEMENT OF FIXED
ASSETS
Management of fixed assets is very important in every organization. Fixed
assets a company is permanent capital of the company. They help in production
process. They can be used year by year for a long period of time. They must be
checked. A large fixed asset does not mean that firms are very well but there must be
proper combination of fixed assets.
There must be proper and appropriate provision for depreciation on fixed
assets. The financial manager has to take proper decision for the investment in fixed
assets.
The financial manger of HOTEL SILVER PALACE is very much aware about
their fixed assets’ management.
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PROFIT & LOSS A/C
The SILVER PALACE maintains its account by double entry system and
accounting is computerized. The financial manager manages this.
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INDEX
SR. No. PARTICULARS Pg. No.
1. INTRODUCTION 69
2. MARKETING MIX 70
3. PRODUCTION MIX 71
4. PROMOTION MIX 72
5. SALES PROMOTION 73
6. MARKET RESARCH 74
7. PRICING MIX 75
8. ADVERTISEMENTS 76
9. COMPETITORS 77
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INTRODUCTION
In the global economy marketing management occupies a significant place
whether it is a new firm or it is an established unit. In this competitive world an
efficient and effective organization of marketing department is prime condition.
Till 1950, marketing was usually sales oriented and the selling concept
stressed the need of high-pressure salesmanship and advertisement to secure
maximum sales volume. Since 1950, we have customer oriented marketing plans and
programs and their customer orientation is called marketing concept. The marketing
concept has been expressed in many colorful ways.
“Marketing is social and managerial process by which individual and group
obtain what they want and need through creating, offering & exchanging product of
value with others.”
“Marketing needs profitability finds what and fill them love customer, not
the product have it your way, you are the boss putting people first partners for profit.”
The concept of marketing is very much important in marketing. The American
Marketing Association defines, “a market as the aggregate demand of the potential
buyer for product or service.”
It is said that without efficient marketing of the goods, even though we will
create best product, but we cannot sell it.
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MARKETING MIX
Marketing mix is the collection of four basic ingredients of marketing. They
are product, price, promotion & place.
“Marketing mix is the set of marketing tools that the firm uses to achieve its
marketing objective in the target market.”
-Philip Kotler
But now a day marketing mix is the collection of 7 ingredients of marketing.
Additional three ingredients are,
Packaging
Perception
Persistence
In HOTEL SILVER PALACE their main strength is marketing mix. They survive
long in the market because they have product with reasonable price, with proper
place. Their food quality is also very good and therefore they have advantage
celebrities in their hotel.
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PRODUCT MIX
Product mix is the list of all the products offered for sale by a company.
“It is defined as the composite of products offered for sale by a firm or a
business unit.”
The product mix is made up of 3 elements. Mainly,
Width
Depth
Consistency
Width is measured by the no. of variety of products manufactured by a single
manufacturer.
Depth refers to the assortment of sizes, colors & models offered within each
product line.
Consistency refers to the close relationship of various product line either to
their end use or to production requirements or to distribution or to other variables.
The HOTEL SILVER PALACE has product width in food dishes i.e. Chinese,
Indian curry, Italian, Mexican, Rice & dal etc.
The HOTEL SILVER PALACE has product width in room also i.e. comfort
rooms, standard rooms, deluxe rooms, exe-deluxe rooms.
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PROMOTION MIX
The marketing mix activities or product planning and distribution are
performed mainly within business or between a business and the member of its
promotional activities , a firm communicates directly with potential customers as well
we see it is not a simple process.
Basically promotion is an attempt to influence the customers and the more
specifically promotion is an element in an organization. Marketing mix is that serves to
inform, persuade and remind the market of the product and the organization selling it
in hopes of influencing the customer’s feeling, belief or behavior.
Promotion consists of those activities that are designed to bring a
company goods and services to the favorable attention of customer”
There are four form of promotion are as follows.
Personal Selling
Advertising
Sales Promotion
Publicity & Public relation
The HOTEL SILVER PALACE makes a promotion activity. So they can increase
the volume of sales and can earn maximum profit.
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SALES PROMOTION
Sales promotion in marketing mix where as advertising and personal
salesmanship are essential and basic ingrediance in marketing mix.
Sales promotion is the bridge or a connecting link covering the gap between
advertising and personal salesmanship, the wings of promotion.
The HOTEL SILVER PALACE gives the discount to their regular customer. They
also provide discount on some special event. They do sales promotion activities by this
way.
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MARKET RESEARCH
Marketing research is a systemizing recording and analyzing the date
about the marketing problem to facilitate decision making.
Thus, marketing research concentrates on the study of product planning,
advertising and sales promotion, distribution structure, marketing strategies,
marketing competition, buyer behavior and attitude in the marketing place.
The HOTEL SILVER PALACE is one of the most euphonious hotel in Saurashtra
that provide the finest hospitality and service make it the ideal choice for businessman
and tourists.
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PRICING POLICIES
Pricing is a very critical decision in marketing mix. It is a price regulator of
production, distribution and consumption of goods. Pricing strategy determines the
first position in the market.
A pricing policy is standing answer of the firm to recurring problem of pricing.
It provides guidelines to the marketing manager to evolve appropriate pricing
decisions. If competition is mainly on price basis, then each company generally prices
its products as the same level as its competitors. If there is non-price competition,
each marketer chooses among the three alternatives.
Price in line
Market-plus
Market-minus
While deciding price of the product following factors are consider as cost.
Cost of raw material
Wages paid
Electricity Expenses
Promotion Expenses
Estimating cost
Other cost
In HOTEL SILVER PALACE price policy of the rooms are very suitable
for the customers.
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ADVERTISEMENT Advertising is the most important and challenging task of any organization.
Advertising is a mass paid communication of goods and services to increase sales &
profit. Any employer or businessman must advertise their product.
The employer can advertise their product in many Medias. They are,
1. Mural advertisement:
Banners, hording, signs board are the example of this type of
media.
2. Press advertising:
News papers, magazines, journals etc.
3. film advertising
4. radio advertising
5. television advertising
6. advertising specialties:
Calendar, books are such type of advertising.
This unit is doing advertising through agency and through their salesman.
The salesman can also go to any schools and colleges and can explain about
their new schemes, discount and any other facilities. HOTEL SILVER PALACE doing
advertising by news paper.
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COMPETITORS The market have many hotels but some hotel have good quality and reputation in
city. The HOTEL SILVER PALACE is one of them. The SILVER PALACE makes good value
in the market, but the competitors are still today.
The owner of the SILVER PALACE does not believe in competition. He says
that our hotel has different type of food than other hotel. But then also their
competitors are as follows.
The Imperial palace
Hotel Grand Regency
Hotel K.K.
Hotel Kaveri
Galaxy
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79
THE HOTEL SILVER PALACE
(THREE STAR)
APPORVED BY
THE GOVERNMENT
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FUTURE PLAN
The HOTEL SILVER PALACE has already three star award. So their future plan
is to achieve five star awards and becomes the first hotel in Saurashtra. They also want
to expand their services as well as place of their restaurant.
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S.W.O.T. analysis is to auditing an organization and its environment. It is the first
stage of planning and helps marketers to focus on key issue. Once key issues have
been identified they fed into market objective. S.W.O.T stands for
Strength
Weakness
Opportunity
Threats
1. STRENGTH:
the HOTEL SILVER PALACE is located in the middle of the city.
The staff of SILVER PALCE is well mannered. They treat customer very
carefully.
They provide modern facilities with finest hospitality and service. There it
is ideal choice for businessman and tourists.
They have internationally styled restaurant ‘FLVORURS’, that provide
thoroughly restful, marvelous ambience with superb hospitality. They
provide all the major cuisine of the world.
They also have multi –functional hall named ‘BLOOMS’ for every extra
activities.
They got the award of three star & highest taxpayer.
They can take pride in being a host to a number of celebrities including
bollywood & telewood stars, cricketers, political leader as well as
corporate barons & also being the most preferred hotel in Rajkot by NRIs.
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2.WEAKNESSES :
They want to expand the area of their hotel, but the space is not sufficient
because it is situated in the residential area of Rajkot.
Customers have to park their vehicles outside because of small parking area.
3.OPPORTUNITY :
The HOTEL SILVER PALACE situated in the middle of the city. So they can have
more market share.
They have opportunity of getting 5 star award by government
They have opportunity of increase their product line (food).
4.THREAT :
The hotel has threat by their competitors.
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CONCLUSION
The last and final stage of this reports ending with the conclusion. At the end of
this report we can easily understood that HOTEL SILVER PALACE is one of the leading
firms in Restaurant. It has most effective and efficient management system and this is
the main reason behind its development.
From the study of this report, it is very clear that HOTEL SILVER PALACE is
quickly climbing up the ladder of success. This report is concluded with all the best
wishes for the growth and prosperity of HOTEL SILVER PALACE in the coming years.
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SUGGESTIONS
They should advertise their other products through media.
There is need to improve the taste to suit the customer’s choice.
Provide different schemes like,
Discount coupon for week days.
They should do event management.
They should participate in various programs organized by hotel management.
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BIBLIOGRAPHY
90
Website: www.hotelsilverpalace.com
Marketing management: S.A.Sherlekar
Financial management: I.M.Pandey
Personnel management: C.B.Mamoria