How to Measure The Profitability of Your Hotel Business
Profitability is a business's ability to generate earnings from its operations over a given period. Various methods, known as profitability ratios, gauge a business's overall profitability. This article explains the different profitability ratios and explains how revenue management can positively impact profitability. Insight in Profitability Ratios Profitability ratios provide insight into how a business is performing and are key tools for accurately analyzing financial statements. Every business owner should know what these parameters represent and how they are calculated since they are scrutinized closely, particularly when dealing with banks. 3 Main Profitability Ratios Let us now review 3 widely known
What to Include in Your Hotel’s Brand Guidelines?
When potential guests interact with your hotel's brand for the first time, they develop an impression within seven seconds or less. Your brand identity is the personality that defines your hotel in your guest's eyes. This includes your visual design, unique selling point, brand values, value propositions, and how your brand interacts with customers. Crafting a solid brand identity builds trust with your customers. Like in human relationships, customer-to-brand relationships take time to make with
Different Types of Hotel Guests and Tips on How to Appeal to Them
Hotel guests have different circumstances and priorities, so hotels need to understand that there is no ‘one size fits all’ solution to attracting them. In this article, we will break down the main types of guests, provide tips for appealing to each guest type, and offer more general advice for exceeding customer expectations during their stay. Table of Contents: What is the Hotel Industry? Different Types of Hotel Guests and How to Attract Them Business
Tips to Find Your Next Hotel Manager Job!
The role of a hotel manager is challenging and rewarding, requiring you to understand various hotel strategies and management techniques. However, to find your next hotel manager job, you will need to understand the nature of the role, ensure you meet the minimum requirements, and know where to look. Here,
What is Hospitality? The Unrivaled Guide To Hospitality!
What is hospitality? In many people's minds, hospitality is strongly connected with leisure. The sector is far broader than this, however. For many organisations, day-to-day operations would be impossible without the support of some element of the hospitality sector. Whether you're booking a hotel for your summer holiday, a conference
List of The Most Important Channels for Finding Hotel Management Jobs
Many people working in the hospitality industry aspire to hold hotel management jobs, but actually finding the right job can be challenging, especially given the competition that is out there. To maximize your chances, you need to utilize various channels. Here, you will find a list of the best channels