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Abstract

Subject area

Hospitality and Tourism.

Study level/applicability

Senior undergraduate level and graduate level.

Case overview

This case study charts out the development of a business plan for Ch’ulel Mendoza, a hypothetical all-villa resort nestled against the Andes Mountains, where guests enjoy luxurious wine-infused spa treatments. The business plan has to be comprehensive because it should become the basis of a turnkey project for potential investors. Ch’ulel Mendoza is surrounded by the lush vineyards of some of the most famous wine estates in Argentina. The spa, facilities and services pay homage to the wine-growing heritage of the region, promoting wine to its guests as both pleasurable for consumption and conducive to healthy living. The architectural design speaks directly to the vines themselves: the earth-covered spa is where guests soak up the healing nutrients in the vinotherapy and water treatments, much like the roots are nourished by the elements and water in the soil; the resort area embraces the outdoors with decks, open patios and pools where guests can bask in the sun and enjoy other natural elements, just like the grape plants themselves. Once it becomes operational, Ch’ulel Mendoza will symbolize a blend of wellness, recreation and the charm of the Latin American culture.

Expected learning outcomes

Develop a comprehensive business plan for a new business, understand the business environment, prepare a strengths, weaknesses, opportunities and weaknesses analysis, develop functional (marketing, finance, human resources, operations, etc.) plans and understand the opportunities and challenges in the new product development process.

Subject code

CSS: 12: Tourism and Hospitality.

Details

Emerald Emerging Markets Case Studies, vol. 7 no. 3
Type: Case Study
ISSN: 2045-0621

Keywords

Article
Publication date: 16 October 2009

Sally Sims, Peter Dent and Gina Ennis‐Reynolds

The purpose of this paper is to establish whether or not asking price can provide a reliable indication of the impact of a negative externality when transaction data are scarce.

Abstract

Purpose

The purpose of this paper is to establish whether or not asking price can provide a reliable indication of the impact of a negative externality when transaction data are scarce.

Design/methodology/approach

Until recently, transaction data within the UK were either unobtainable or expensive. Subsequently, an analysis of the value impacts of living near negative externalities (such as high voltage overhead power lines (HVOTL)) relies almost entirely on valuer expertise. Since behavioural research suggests that valuers often anchor to asking price which, in theory, is based on the selling agent's opinion of the likely transaction value of a property, the argument is made that “asking price” provides a reliable indication of the impact of a negative externality when transaction data are scarce. This theory is tested through an analysis of the real versus perceived impacts of an HVOTL on proximate house prices.

Findings

The results, whilst providing additional evidence to support the relationship between value diminution and the presence of an HVOTL near residential homes, suggest that agents' marketing price does not capture the true impact of this type of negative externality and should therefore be treated with caution by practitioners seeking to establish the value of this type of property.

Originality/value

The results of this article add additional evidence to support the findings from previous studies in this field.

Details

Property Management, vol. 27 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

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