Uploaded on Jul 17, 2023
The study suggested that, going forward, (THRM) total hotel revenue management practices will be more fully integrated into all hotel operations, including function space (although these ideas have yet to gain much traction in the industry). It is evident that in order to be future-ready, hotel management companies in India need to adopt hotel revenue management to a larger extent. Dilution of tariff at unreasonable rates can be seen as a common challenge for hotels and it heavily affects a micro market and hence is often discouraged by good hospitality asset management companies. Checkout - https://www.promiller.in/post/the-future-of-hotel-revenue-management #promiller
The Future of Hotel Revenue Management
The Future of Hotel
Revenue Management
What do you do when you want to increase profits from your
hotel business? Any solution that one can think of falls into
two major categories: 'Decrease the Expenses' and 'Increase
the Revenue'.
As typically found by
many hotel asset
management companies
in India, the latter is less
focused upon, in
comparison to the first
solution. Hotel
businesses tend to cut
back on expenses in
order to maintain (or
increase) their profits.
Now the question arises:
'Which one of the two is
better?' Well, we believe
a balance of both is vital
for a steady and
sustainable solution.
The study suggested that, going
forward, (THRM) total hotel
revenue management practices
will be more fully integrated into all
hotel operations, including function
space (although these ideas have
yet to gain much traction in the
industry). It is evident that in
order to be future-ready, hotel
management companies in India
need to adopt hotel revenue
management to a larger extent.
Dilution of tariff at unreasonable
rates can be seen as a common
challenge for hotels and it heavily
affects a micro market and hence
is often discouraged by good
hospitality asset management
companies.
Thank You!!!
Comments