2. Focus attention on Your STR (Smith Travel) Report or
other analysis documents to understand your market
Market supply and demand can change with surprising frequency. Government actions, weather, construction activity, employment variances, public perception of an areas or literally a dozen additional factors can affect your market performance.
Recognizing and understanding your specific performance is
essential to maintaining your level of success.
STR and other resources are excellent barometers of those
changes and offer insights to reasons for variances. Regular review and follow-up by a manager or person of responsibility is essential.
A Baker’s Dozen of Strategies to To Make Your Hotel More Profitable
The full list of tips is available @ HospitalityEducators.com
This resource began with definitions of the words “profits” and “profitability. ” Those words and sentiments are not for hotel owners and managers alone. The HospitalityEducators.com site has segments specifically dealing with this topic and all 13 strategies.
Feel free to share an idea for a column at firstname.lastname@example.org anytime or contact me regarding consulting, customized workshops, speaking engagements … And remember – we all need a regular dose of common sense.
John Hogan is a successful hospitality executive, educator, author and consultant and is a frequent keynote speaker and seminar leader at many hospitality industry events. He is Co-Founder of a consortium (www.HospitalityEducators.com) of successful corporate and academic professionals delivering focused and affordable counsel in solving specific challenges facing hospitality today. www.HospitalityEducators.com is a membership site offering a wide range of information, forms, best practices and ideas designed to help individual hoteliers and hospitality businesses improve their market penetration, deliver service excellence and increase their profitability. Individuals wishing to contribute materials may send them Kathleen@HospitalityEducators.com.
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