Comprehensive Physical Asset Management Report for Marriott Hotel

This report provides a comprehensive analysis of physical asset management, focusing on the context of Marriott Hotel Sydney. It begins with the creation of a physical asset register, detailing items such as ice machines, coffee makers, and kitchen equipment, including their costs and purchase dates. The report then outlines a maintenance implementation schedule, with specific instructions for maintaining each asset to reduce costs, such as cleaning and sanitizing ice machines and checking the seals on upright drinks fridges. The report then explores different financing options, including hire purchasing and finance leases, that Marriott Hotel Sydney could use to acquire assets. A key section of the report focuses on sustainability policies for the use of new assets, including adopting ISO 55000 standards, understanding total cost of ownership, obtaining buy-in from senior management, and implementing sustainable options. The report also includes a populated asset register for Marriott Hotel Sydney, which lists various assets such as POS systems, computers, and kitchen appliances, including their purchase dates, current values, and asset numbers. Finally, the report references books and journals related to asset management and sustainability and also provides a reference to an online article on incorporating sustainable asset management.

MANAGE PHYSICAL ASSETS

Table of Contents
MAIN BODY...................................................................................................................................1
CASE STUDY.................................................................................................................................1
1. Preparation of physical asset register......................................................................................1
2. Maintenance implementation schedule for the items listed in above table and explaining
procedures for reducing maintenance costs................................................................................1
3. Describing different finance options to acquire the assets......................................................2
4. Listing points Sustainability Policy for the usage of new assets............................................3
TASK 4............................................................................................................................................4
Populate Asset Register for Marriott Hotel Sydney....................................................................4
REFERENCES................................................................................................................................5

MAIN BODY
CASE STUDY
1. Preparation of physical asset register
Description Item No. Cost/Value$ Date purchased Remarks
Ice machines 100 900 15/10/18
Coffee making espresso
machine 101 700 15/11/18
Upright drinks fridge 102 800 14/10/18
Dishwasher 201 200 07/09/17
6 x Burner stove with
ovens 202 400 10/08/17
Combi Oven 203 800 05/07/17
Deep fryer 204 300 08/08/17
2. Maintenance implementation schedule for the items listed in above table and explaining
procedures for reducing maintenance costs
Ice machines-
 Clean and sanitize water system
 Check external filter system
Coffee making espresso machine-
 Drain out coffee machine over sink
 Fill machine with undiluted white vinegar and wash it
Upright drinks fridge-
 Keeping coils clean
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 Check door seals
Dishwasher-
 Add two cups of vinegar
 Soak it for 15 minutes
6 x Burner stove with ovens-
 Don't' clean under the oven knobs
 Replace gas with much care
Combi Oven-
 Spray solution to whole of inside surface of oven
 Press steam clean button after closing combi oven
Deep fryer-
 Check for oil leaks
 Check for temperature
3. Describing different finance options to acquire the assets
There are different finance options which can be used by company for getting into
account the ways for acquiring assets fixed assets in the best manner possible (Alonzo, Yee and
Apte, 2018). It can be analysed that there are various types of financing options that can be
adopted and are listed below-
Hire Purchasing-
It is a type of asset finance option allowing Marriott Hotel Sydney for possessing control
over the asset for an agreed term in effective manner with paying rent covering depreciation of
asset and interest thereof for covering capital cost.
Finance lease-
It is a way for providing finance which is leasing company (owner) who buys assets for
user and rents to it for an agreed period having certain amount. It can be analysed that Marriott
Hotel Sydney would use such finance option for acquiring assets (Ferreira, Matos and Pires,
2018).
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4. Listing points Sustainability Policy for the usage of new assets
The sustainable usage of new acquired assets can be summarised with various points
below-
1. Familiarising with ISO 55000 Asset management standards-
 Standards can be used as benchmark
 Increases reliability
2. Understanding total cost of ownership-
 Ascertaining fixed and variable costs
 Save time and cost for long run
3. Obtaining buy-in from senior management-
 Presenting current gap in assets
 Requiring financial support from management (Five Ways to Successfully Incorporate
Sustainable Asset Management. 2018).
4. Implementing sustainable options-
 Take proactive approach
 Implementing strategic plan
5. Use of technologies-
 Track performance
 Beneficial for transparent information
6. Management of resources-
 Initiating resources management techniques
 Reviewing progress (Gârleanu and Pedersen, 2018).
7. Inventory audit-
 Track number of quantities
 Initiating audit process
8. Identifying KPI (Key Performance Indicators)-
 Highlighting strength and opportunities
 Assessing efficiency in production
9. Refining and monitoring asset management services-
 Enhancing key service levels
 Implementing service level programs for better efficiency
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10. Communicate renewed asset management services-
 Communicating to intended vendors of company
 Benefits for the long-term.
TASK 4
Populate Asset Register for Marriott Hotel Sydney
Description Asset Number Purchase Cost/Value$ Date purchased Current value
POS System 201 700 15/10/16 500
Admin computer 202 700 10/10/15 400
Cool Room 203 500 01/07/15 250
Glass washer 204 400 06/08/16 300
Coffee machine 205 100 05/09/17 40
Industrial
Microwave oven 206 400 04/02/14 200
Portable gas heaters 207 250 10/03/14 120
Decking 208 600 06/08/15 350
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REFERENCES
Books and Journals
Alonzo, J.A., Yee, J.L. and Apte, U.M., Oracle International Corp, 2018. IT asset management
trend charting for compliance over time. U.S. Patent Application 10/007,951.
Ferreira, M.A., Matos, P. and Pires, P., 2018. Asset management within commercial banking
groups: International evidence. The Journal of Finance. 73(5). pp.2181-2227.
Gârleanu, N. and Pedersen, L.H., 2018. Efficiently inefficient markets for assets and asset
management. The Journal of Finance. 73(4). pp.1663-1712.
ONLINE
Five Ways to Successfully Incorporate Sustainable Asset Management. 2018 [Online] Available
Through: <https://fmlink.com/articles/five-ways-to-successfully-incorporate-sustainable-asset-
management/>
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