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HFT1000 Final Exam Review In Class Review Yacht clubs are located by the water Country clubs are focused in GM hires personnel and oversees Equity v proprietary club Social membership is for those who just want to dine and hang out o Equity members own it o Proprietary owned by corporation there to make Some clubs won t let divorced people join States without casinos Hawaii and Utah Internet gambling you can t track who s the one gambling on the computer Public golf course for anyone to play CMAA Club Managers Association of America Pit how the tables are arranged 2 to 8 Cage where all the money is kept Hire the cheaters to watch the surveillance cameras to catch other cheaters 3 people count the money in the cage HMS Her Majesty Ship or Her Majesty Service Ships don t go to as many ports anymore because the boats are so big Slot machines are near the entrance of the casinos Chapter 29 Clubs were founded by newly wealthy entrepreneurs Clubs were once considered the playground of the rich and famous Club a group of persons organized or united for social literary athletic political or other purposes People join clubs to engage in social discourses and to surround themselves with others who have similar interests Over 14 000 private clubs in the United States CMAA Club Managers Association of America o Premier industry professional association o CMAA member managed clubs generating annual gross revenues of over 14 billion The average club spends 1 2 million within the state Competitive landscape has increased significantly Private clubs today are in the direct competition with upscale daily fee courses Path of least resistance drastically reducing initiation fees or completely waiving initiation fees to compete Country clubs o 80 of all private clubs o Full membership full use o Social membership restaurant lounge bar Certain times of day Yacht clubs o 4 of all private clubs o Establishments near or on the water and generally promote and regulate boating and yachting o Cater to the enlisted man the noncommissioned officer and the Military clubs officer Professional clubs Social clubs City clubs o People in the same profession for social and business interaction o Concentrate on serving the social needs of members who are normally from similar socioeconomic backgrounds o May rent out guest rooms organize themselves around a specialized profession or associate with a particular college or university o Duquesne Club 1 ranked private club o Outlet for working out athletic activities dining and meeting o Dining clubs located in large office buildings offering their members top quality food service in urban surroundings Athletic clubs Fraternal clubs o Provide fraternal organizations with a central location for meetings dining and social activities University clubs o Reserved for the activities of faculty alumni and guests Country clubs are the largest employers Equity clubs o Nonprofit clubs o Oldest form of club management o Most common o Owned and organized by the members Propriety clubs o For profit o Owned by a corporation company business or individual It is a club manager s job to hire personnel to run the day to day operations of the club Technology o 1 Wireless o 2 E Procurement o 3 Handheld technology o 4 Data mining o 5 Third party agency February 1927 first annual meeting of the CMAA took place National Club Association NCA influence Capitol Hill Chapter 30 Front of the house casino floor where customers actually gamble Only Hawaii and Utah do not have any form of legalized gaming Back of the house accounting operations security computer control Table games are arranged in what is called a pit o 2 8 tables o Tables arranged in a circle Outside area is called playing area Cage large cashier s office Accounting department manages the immense cash holdings that flow Betting on sporting events is only legal in four states Delaware Montana through the casino Nevada and Orgeon Chapter 31 Less than 18 have ever cruised Cruises have 14 million passengers annually There is a cruise for every budget age group eating habit and activity level Americans represent 70 of the people who take cruise vacations Early cruises were for transportation Cruising changed with the hit television series The Love Boat Carnival Cruise Lines The Fun Ships A tender is a smaller boat that will ferry passengers from the larger ship to shore Cabin stateroom Beds berths Modern day cruise ships have winglike projections called stabilizers that are used in rough seas Cruise Lines International Association CLIA o 21 major cruise lines o 3 types of cruise lines contemporary luxury and premium o Contemporary mass market o Premium exotic ports The Caribbean and Bahamas continue to be the number one destinations for cruises Alaskan cruises became very popular following 9 11 because passengers felt safer cruising in the U S waters Flag of convenience the cruise line does not have to follow U S standards in regard to taxes and minimum wage requirements


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FSU HFT 1000 - Final Exam

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Exam 1

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