Q.1. (a) Explain the various sub-sections of front office module of a Property Management System. The front office module of a Property Management System (PMS) is the central hub of the hotel's operations. It includes a range of sub-sections that manage different...
Q.1. Define the following: (a) Planning (b) Forecasting (c) Budgeting (d) Evaluating (e) Discount grid (a) Planning Planning is the process of setting goals and creating a framework for achieving them. In the hospitality industry, planning involves developing...
Q.1. Explain Hubbart’s formula with steps. Hubbart's Formula is a commonly used method for pricing hotel rooms. The formula takes into account a number of factors, including operating costs, desired profit margins, and market demand. Here are the steps involved in...
Q.1. What are the most popular approaches to pricing the rooms? Explain with emphasis on advantages and drawbacks of each of them. Pricing the rooms is one of the most important factors in hotel revenue management. The hotel industry uses various approaches to pricing...