Building Profits – one step at a time
Profit – noun
- a financial gain, esp. the difference between the amount earned and the amount spent in buying,
- operating, or producing something : pretax profits | his eyes brightened at the prospect of profit.
- advantage; benefit
Profitability – adjective
- (of a business or activity) yielding profit or financial gain.
- beneficial; useful
- One of the reasons that people own hotels is for the potential of profitability, both operationally and the
- longer term increase in the asset value.
Like many industries, the lodging segment of the hospitality industry has its cycles.
The global market place has been adding different dimensions with increasing competition and changing dynamics in both supply additions and demand options.
This resource examines 13 specific strategies that are aimed at improving revenues and monitoring expenses. Examples of international currency are included with each strategy.
1. Create or participate in a sales blitz campaign with your brand, regional partners, co-op or local Convention and Visitors’ Bureau (CVB)
In this day of global choices and at times illogical discounting, the need to keep your hospitality business name and identity visible and fresh in the minds of existing and potential customers.
Working with others in a collaborative effort will increase your market presence and will allow you to promote your business in professional and synergistic ways.
Sales blitzes are often supported by online, mail and advertising efforts as well.
The full set of strategies is available at http://www.HospitalityEducators.com with the title
Watch this blog for the remaining BUILDING PROFITS Steps and Suggestions
MAKE YOUR HOTEL MORE PROFITABLE NOW
Success does not come by accident or chance.
Contact us for assistance.
John.Hogan@HospitalityEducators.com or 602-799-5375
HospitalityEducators.com was created to help hospitality businesses address problems via a training and information resource site to help you increase your Hotel’s revenue, market share and profitability. With more than 1,000 pages of tips, guides, best practices, strategies, plans, budgets, videos and resources, HospitalityEducators.com is the #1 independent website for hotel owners and managers. This site can help you solve your problems now! Read More
|KEYS TO SUCCESS is the umbrella title for my 2011-2012 programs, hospitality services and columns. This year’s writings focus on a variety of topics for hotel owners, managers and professionals including both my “HOW TO” articles, HOSPITALITY CONVERSATIONS™, Lessons from the Field™, Hotel Common Sense™ , THE P-A-R PRINCIPLE™ and Principles for Success.|
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 CEO and Co-Founder of www.HospitalityEducators.com , which delivers 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.
Your Hospitality Resource for the Hotel Owner, Innkeeper, Manager and Hospitality Industry Associations.