Assignment on the Business Statistics of the Hawaiian Hotel

Introduction of the Hawaiian Hotel

The aim of this report is to provide deep insights regarding the occupancy rate of the Hawaiian Hotel. The corporations and businesses estimate the demand so that they can plan their operations effectively. The demand of the customers keeps on changing or fluctuating with the passage of time. The businesses should understand the patterns of demand so that they can meet the needs of their customers efficiently. The corporations who do not estimate demand effectively cannot provide high-quality services to its customers. This report has provided detailed information about the occupancy rate in the last 8 years (JANI, 2014).

Hotel Occupancy Rate Analysis of the Hawaiian Hotel

In the above table, the descriptive statistics of the occupancy rate of the Hawaiian Hotel chain is provided. The descriptive statistics are evaluated from the data of an eight-year period that begins from the year 2000 and ends in the year 2007. The mean of the 8-year occupancy rate is 75.26%. The standard deviation of the 8 year period is 5.8. The median value of the 8 year period data is 75.44 whereas there is no mode for the occupancy rate of the Hawaiian hotel chain. The maximum occupancy rate in the 8 year period was 84.76% whereas the minimum occupancy rate in the 8 year period was 57.2%. The variance of the occupancy rate in the 8 years is 34.73% (Campbel, Edgar, & Stonehouse, 2011).

The mean occupancy rate of 75.26% is used for comparing the mean occupancy rate in individual years. The two occupancy rates which include 84.76% and 57.2% are out of the range. All the occupancy rates fall in the range of 54.7% to 89.58% standard deviation range. In the above bar chart, the quarterly occupancy rate is provided in detail. Quarter 1 has a higher occupancy rate than the quarter 2 and quarter 4. Quarter 3 has also a higher occupancy rate. The standard deviation of quarter 4 is quite high than the rest of the quarters (Campbel, Edgar, & Stonehouse, 2011).

In the beginning, years which include 2001 to 2003, the occupancy rate remains quite low. The reason for the low occupancy rate in the Hawaiian hotel was the recession in early 2000. The recession at the beginning of 2000 has affected the United States and European Union up to a lot of extents. Due to this recession, the hotels in Hawaii do not experience many visitors and the occupancy rate remains low. The yearly mean occupancy rate shows that in the years 2001, 2002, and 2003 the occupancy rate is lower than the average occupancy rate of 8 year period. The table below is showing the average occupancy rate in each year starting from 2000 t0 2007 (Pandey, 2015).

As discussed earlier the reason for the low occupancy rate in the Hawaiian hotel was the recession in early 2000. The recession at the beginning of 2000 has affected the United States and European Union up to a lot of extents. However, the recession ended in the year 2003. From the year 2004 to 2006 the Hawaiian hotel has experienced a significant amount of growth in terms of occupancy rate. In 2004 the occupancy rate remain 77.70 and in the year 2005, the occupancy rate becomes 81.06. In both years the occupancy rate remains higher than 8 year average of 75.26% (JANI, 2014).

The above table and bar chart are providing detail about the quarterly means in the 8 year period. From the available data, it can be said that the occupancy rate remains higher in the first and third quarters. Therefore in these quarters, the demand for the hotel increases because there are a lot of visitors in these quarters. The hotel by keeping the demand of the tourists or visitors can better manage their services and operations. If the hotel is not going to evaluate its demand effectively than it might unable to meet the needs of its customers. Therefore estimation of demand is important for providing high-quality services (Kourdi, 2015).

The above table and bar chart are providing detail about the quarterly standard deviation in the 8 year period. From the available data, it can be said that the standard deviation remains higher in the 4th quarter in the period of 8 years (Campbel, Edgar, & Stonehouse, 2011).

The box plot graph provides detailed information about the occupancy rate over the 8 year period. The box plot graphs provide information on the 5 number summary. The five-number summary includes 5 values which include lower quartile, upper quartile, maximum value, minimum value, and median value. From the graph above it can be seen that the mean of the 8-year occupancy rate is 75.26%. The median value of the 8 year period data is 75.44. The maximum occupancy rate in the 8 year period was 84.76% whereas the minimum occupancy rate in the 8 year period was 57.2% (Campbel, Edgar, & Stonehouse, 2011).

Conclusion of the Hawaiian Hotel

It is concluded that the mean occupancy rate of 75.26% is used for comparing the mean occupancy rate in individual years. The two occupancy rates which include 84.76% and 57.2% are out of the range. All the occupancy rates fall in the range of 54.7% to 89.58% standard deviation range. In the above bar chart, the quarterly occupancy rate is provided in detail. Quarter 1 has a higher occupancy rate than the quarter 2 and quarter 4. Quarter 3 has also a higher occupancy rate. The standard deviation of quarter 4 is quite high than the rest of the quarters.  The descriptive statistics are evaluated from the data of an eight-year period that begins from the year 2000 and ends in the year 2007. The mean of the 8-year occupancy rate is 75.26%. The standard deviation of the 8 year period is 5.8. The median value of the 8 year period data is 75.44 whereas there is no mode for the occupancy rate of the Hawaiian hotel chain. The maximum occupancy rate in the 8 year period was 84.76% whereas the minimum occupancy rate in the 8 year period was 57.2%. The variance of the occupancy rate in the 8 years is 34.73%.

References of the Hawaiian Hotel

Campbel, D., Edgar, D., & Stonehouse, G. (2011). Business Strategy: An Introduction. Macmillan International Higher Education.

JANI, P. (2014). BUSINESS STATISTICS: Theory and Applications. PHI Learning Pvt. Ltd.

Kourdi, J. (2015). The Economist: Business Strategy 3rd edition: A guide to effective decision-making. Profile Books.

Pandey, I. (2015). Financial Management. Vikas Publishing House.

Spender, J.-C. (2014). Business Strategy: Managing Uncertainty, Opportunity, and Enterprise. OUP Oxford.