HOSPITALITYEDUCATORS.COM FACULTY MEMBER DAVID BRUDNEY HAS GENEROUSLY AGREED TO SHARE SOME OF HIS EARLIER COLUMNS THAT GENERATED READER FEEDBACK AND INTEREST
Hotel Owners and Operators Expecting Higher Yield from Increases in More Personalized, Direct Selling Expenses
Mistakes do happen – that is human, understandable and part of our professional learning cycle. What we need to remember is to improve and learn from those mistakes by not repeating them needlessly.
Revenue Managers and Marketing Directors understandably are keenly focused on the top-line impacts of revenue decisions - including pricing. Owners and most General Managers are more attentive to figures further down the P&L statement including Gross Operating Profit (GOP) and Net Operating Income (NOI), since performance at this level is most often directly tied to the value of their hospitality asset.
Fortunately, a simple pricing formula has been created that will help clarify the risks associated with a given pricing decision on GOP - before that pricing decision is implemented. While tolerance for risk varies from one individual to the next and from one corporate culture to the next, at least all parties involved may now have a common starting point from which smart pricing decisions can be made.
Pricing isn't a static venture: it should and must slide with changing market considerations, new products and evolving business goals. You've got to start somewhere, though, so before slapping that $5.99 sticker on your new widget, check out these 10 tips for pricing your product.
Listed in this article are travel trade industry-related terms from various sources, including the National Tour Association and the Travel Industry Association of America.
With the invention of email, the world of convenience has moved to a new level. The cost involved with many types of mailings has also decreased and, in general, our ability to save time and speed-up decision making all has led to a more effective work environment. While emails have dramatically reduced the proverbial game of “telephone tag”, emails now have replaced some of the personal contacts associated with the call or an individual visit.
There are many different opinions that surround what is considered to be proper e-mail etiquette; however, there are certain basic pointers that can be given to enhance its’ effectiveness. The following suggestions fall under that category.
December 1st of any year marks a number of things for many of us globally, regardless of where we live. The last month of the calendar year is often time for social parties for companies and associations, as well as family gatherings. There are holiday get-togethers for department staffs, retirement celebrations and to mark the end of a (hopefully) successful year.
Early December should also be a focused time of year for those of us in the hospitality world of food service, accommodations, spas/relaxation centers and beverage service. It is a time of refresher awareness in the care of alcoholic beverage service.
The title of this short article might sound a bit fundamental, but we have all learned the value of the basics. Little things do make a difference... actually, they can be the difference in achieving success or not.
There have been more than 15,000 ADA lawsuits filed in the United States. Failure to comply is expensive and bad for business. It is important to be ADA-friendly.
Mistakes do happen – that is human, understandable and part of our professional learning cycle. What we need to remember is to improve and learn from those mistakes by not repeating them needlessly.
Revenue Managers and Marketing Directors understandably are keenly focused on the top-line impacts of revenue decisions - including pricing. Owners and most General Managers are more attentive to figures further down the P&L statement including Gross Operating Profit (GOP) and Net Operating Income (NOI), since performance at this level is most often directly tied to the value of their hospitality asset.
Pricing isn't a static venture: it should and must slide with changing market considerations, new products and evolving business goals. You've got to start somewhere, though, so before slapping that $5.99 sticker on your new widget, check out these 10 tips for pricing your product.
There have been more than 15,000 ADA lawsuits filed in the United States. Failure to comply is expensive and bad for business. It is important to be ADA-friendly.