Question

describe some good avenues for creating revenue, in the hotel sector.

Answer 1

Proper avenues are really important for approaching any kind of opportunity. When it comes to the hotel sector, there are several avenues which help in creating good revenue. Some of them are discussed as follows:

1. Providing quality services: One of the most important principles which any business should follow is "customer is the king", therefore, it is very ok important to keep the customers happy, and making sure that their stay in hotel is a comfortable one. The internet acts as a very important tool for creating word of mouth. Happy customers will leave positive reviews which will help the hotel to bring in more customers.

2. Competitive advantage: There is no lack of hotels. Infact there is more competition so it's very important to have a competitive advantage so that the customers choose you over others in the industry. Some of the strategies include (but are not limited to): attractive offers, discounted prices, complementary benefits, online booking etc.

3. Reasonable rates: It is very important to charge proper rates to the customers which are as reasonable as possible. Excessive high rates bring bad name to the business and low rates may cause losses. Such decisions need proper planning and should be given sufficient time.

4. Service at it's best: Hotels belong to the service sector and by default it's important to provide best services to it's customers. Nothing beats good services and provides utmost satisfaction to the customers.

5. Food and beverage sales: Hotels rooms must provide good food to its customers with variety of options and also which is hygienic. Good food always help in creating great revenues of the hotels.

It is the responsibility of the hotel management to provide best services so that the stay of the customers in the hotels is a pleasant as well as memorable one, so much so that the next time they come to the city, they know where to go to make their trip a comfortable one.