HOTS stands for Hotel Operations, Tactics and Strategy and is a web-based business management simulation in which participants are challenged with redeveloping and managing a large hotel. Since teaming up with HOTS and launching workshops for the simulation in 2013, arena4finance has had much interest in and success with the programme.
With the aim of maximising profitability and achieving business success, HOTS participants must make strategic decisions in key management areas including finance, sales & marketing, and human resources. The latest version of HOTS, used in the workshops facilitated by arena4finance, extends these decision areas to revenue management, social media and the environment.
Being a realistic representation of the hotel industry and the wider economy, HOTS facilitates experiential learning in a financially-safe environment. Recognising this, HOTS has been used by numerous companies and educational institutions for the training and development of employees and students:
Using HOTS as part of its internal management training, a UK-based hotel chain has effectively cross-trained its managers to create a more flexible and diverse workforce. By using a bespoke version of HOTS modelled on the company’s internal environment, the national hotel chain has increased employee understanding of individual hotel strategy as well as their commercial awareness.
An international hotel company has used a bespoke version of HOTS to train its employees in the principles of revenue management, including demand forecasting and pricing strategies. By introducing such practices in a virtual environment, the skills developed were then transferred to maximise yield in reality.
HOTS has been used by an international travel and hospitality company as part of its succession planning strategy. Using HOTS to develop the skills of employees beyond their current job roles, the company has ensured that it has a pool of future leaders with the necessary skills ready for when a position becomes available.
A professional services firm uses HOTS to introduce the hotel industry to students and to develop their knowledge on industry characteristics and terminology. Supplementing the HOTS business simulation with key industry speakers, the programme attracts students to careers in the hotel sector.
How can HOTS help you?
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