https://www.youtube.com/watch?v=VFNk7NoiwXg Yield management is a variable pricing strategy, based on understanding, anticipating and influencing consumer behaviour in order to maximize revenue or profits from a fixed, time-limited resource (such as airline...
Cost From a seller’s point of view, the cost is the amount of money that is spent to produce a good or product. If a producer were to sell his products at the production price, his costs and income would break even, meaning that he would not lose money on the sales....
When it comes to culinary traditions, every country has a unique story to tell. From the spices used to the cooking techniques employed, food is one of the most important ways in which culture is expressed. In this blog, we'll take a look at some of the most popular...
Communication is neither the transmission of a message nor the message itself. It is the mutual exchange of understanding, originating with the receiver. Communication needs to be effective in business. Communication is the essence of management. The basic functions...
Hotel design involves the planning, drafting, design and development of hotels. The concept of hotel design is rooted in traditions of hospitality to travellers dating back to ancient times, and the development of many diverse types of hotels has occurred in many...
Business communication occurs between two or more parties to exchange business related information. The success of a business depends on the efficacy of business communication. For this, communication is regarded as the lifeblood of business. Here is a 1 min 35...
Staff organization plays a major role in the success of any establishment. It is also important to have well –disciplined operation in an outlet. It helps the management to allocate the right persons in the right positions. An effective staff organization is necessary...
Concept of Yield Management The concept of yield management originated in the airline industry. Most travellers know that passengers on the same flight often pay different fares. Super-saver discounts, three-day advance-purchase plans, stay-over-Saturday-night...
Introduction Yield management is the technique which is used to increase the room revenue. In the hotel industry, yield management is also sometimes called revenue management. Hotel’s daily performance like most of other industries is evaluated on the basis of either...
A building of a hotel must be as impressive as its interiors. Its distinctive features begin from the designing itself. Our various civilizations over the ages and their influence can be seen in some modern structures even today. In fact, the principal guiding factor...
There is difference between purpose and objective Purpose tries to gauge the reason behind something that is being done. Purpose defines why the person is doing something he is doing, what is his reasoning behind doing a particular thing and what he plans to achieve...
Hierarchy is a term that denotes the task and authority relationship in an organization. It clearly shows the reporting relationships of the members appointed at various levels of responsibility and also shows formal lines of communication. Hierarchy is a system in...
Some of the popular types of modern hotel plans are:- Modular Construction Slip forming Arch design Cylinder-like structure Modular Construction This is most recent and promising development in the construction of hotel buildings. The technique has cut down the...
The term sales is used in several ways among professionals in the foodservice industry. For the term to be meaningful, one must be specific about the context in which it is used. The following paragraphs, therefore, define the term and explore some of the many ways it...
Communication can be pervaded in every area of human existence. By simply crying and moping fully newborn babies convey what is this great about their appearance in this world. By means of creating your seem these people probably express his or her anticipation with...
JOB DESCRIPTION This term describes the duties and responsibilities of a particular job position. In order terms, the job description is a list of ‘things to do’ of that particular job. For example, the job description of a restaurant manager is a follows: Responsible...
Location plays a crucial role in the success of a hotel. A well-located hotel is likely to attract more customers and generate more revenue than a hotel that is situated in a less desirable location. In this blog, we will discuss the various factors that make a good...
Monetary sales concept Total Sales Total sales is a term that refers to the total volume of sales expressed in rupees terms. This may be for any given time period, such as a week, a month, or a year. For example, total rupee sales for a restaurant is Rs 10,00,000 for...
What is a Model A model is widely used to depict any idea, thought or a concept in a more simpler way through diagrams, pictorial representations etc. Models go a long way in making the understanding of any concept easy and clear. Through a model, one can easily...
It is very important for the smooth functioning of a department that one should perform their duties confidently. So, duties must be assigned based on the capabilities of a person. Gender must be considered when assigning duties. Responsibilities can be distributed...
When it comes to designing a hotel, choosing the right materials is crucial. The materials used can affect the hotel's appearance, durability, and maintenance needs. In this blog, we'll discuss the importance of selecting suitable materials for your hotel. Why is...
There are many reasons why interpersonal communications may fail. In many communications, the message (what is said) may not be received exactly the way the sender intended. It is, therefore, important that the communicator seeks feedback to check that their message...
Supervisory function is an essential activity performed by the supervisory staff to check if all the tasks of F&B service are carried out according to the standards set, so as to satisfy the customer and make them feel that they have received the money’s worth...
When it comes to designing a hotel, there are many aspects to consider, one of which is good workmanship. Good workmanship involves the selection of appropriate technology, plant, and machinery to ensure efficient and economical operations. In this blog, we'll explore...
The Yield Statistic is the Ratio of the Actual Revenue (Generated by the Number of Rooms Sold) to Potential Revenue (THE Amount of Money that would be received from the Sales of Rooms in the Hotel at a Rack Rate) Formula 1: Potential Average Single Rate: ♦Potential...
Overcoming Physical Barriers To overcome physical barriers within the workplace, here are some helpful hints: If you send a lot of email or digital messages, make sure you are surgical in your word choice. Choosing the correct words and stamping out ambiguity is the...
Potential High Demand Techniques: Try to define the Right Mix of Market Segments in order to sell out the Highest Possible Room Rates Monitor New Business Bookings and use these changed Conditions to reassign Room Inventory (As Occupancy increases, consider closing...
Most people spend at least half of their communication time listening. This most used communication skill is not only crucial in interpersonal communication but it is also must in organisation communication and helps in determining success in education and careers....
Inventory control in the hospitality industry is incredibly important. Some studies suggest that hotel theft and losses are at $100 million a year! The main objective of stocktaking is to ascertain the actual value of goods in hand as distinct from the book value of...
A proper costing of any project is essential for determining its viability and profitability. Any financial institution entertains an entrepreneur on the basis of the cost estimates of the project. For any cost over-run, the entrepreneur would find it difficult to...
