The University Caterers Organisation (TUCO) provides members with great opportunities for professional development. Through the TUCO Academy a wide range of high quality learning opportunities are on offer to help members and their teams to continue to develop. In addition to the one day training courses, online learning packages and Study Tours, TUCO now offer the opportunity for teams of learners to take part in a business game based on a hospitality operation which includes managing accommodation as well as food and beverage. The benefits of using business simulations have been long recognised by business schools. Their use has been seen to encourage teamwork, improve understanding and offer the advantage of taking place in a risk free environment. Arena4finance is delighted to be working in partnership with TUCO to offer members the opportunity to take part in the HOTS Business Game Challenge.
HOTS stands for Hotel Operations, Tactics and Strategy and is a web-based simulation in which participants have the challenge of and responsibility for redeveloping and managing a large hotel over a period of a year.
The HOTS Business Game will develop skills in the following areas:
Developing strategic planning
Understanding your financial results and KPI’s
Applying revenue management strategies to pricing
Evaluating sales & marketing strategies
Managing human resources
The simulation is ideal for teams of managers working in Universities where they are currently operating hotels or exploring the opportunities for operating residential premises commercially during vacations. Working in teams of three, participants will have the opportunity to run a virtual hotel and make decisions regarding how to increase revenues and control costs whilst keeping an eye on the cash flow!
The HOTS Business Game is used globally on many university courses to help students learning about accommodation and catering management to understand the key issues and interpret the business results based on their decisions and many commercial hospitality businesses use the simulation for internal professional development courses to develop their managers.
The one day competition will be run by Debra Adams, Head of Professional Development at arena4finance. She is a leading practitioner in delivering courses to develop financial skills for non-financial managers and is the author of the highly acclaimed text book 'Management Accounting for the Hospitality, Tourism and Leisure Industries.’
Debra tells us:
“I love working with learners and the HOTS simulation – the game brings out the competitive side of the teams taking part and it is great way to learn more about what the business results actually mean. Participants can see the direct link between their decision making and the impact on revenues, profits and return on capital.”
TUCO first offered the opportunity to take part in the HOTS Business Challenge at the 2018 Business Competitions held at the University of Warwick in March. Participant and member of the winning team, Michaela Booth from the University of Huddersfield commented:
“Having worked with my fellow colleagues on HOTS this is a great tool for financial management”
The next opportunity to take part is on the 12th October in Manchester. To sign up as a team or individually simply email the name and date of the course plus the name and email of the attendee/s, to academy@TUCO.ac.uk.
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