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Essay Available:
Pages:
10 pages/≈2750 words
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Style:
MLA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
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Total cost:
$ 43.2
Topic:

Recommendations on How to Improve Hotels Revenue Management

Essay Instructions:

more than 10 words cites, there are the outline, use it to write essay, I will update a essay which was I write it. in the end I had a example of the big paper.

 

TITLE PAGE

TABLE OF CONTENTS

EXECUTIVE SUMMARY

Brief (one-two page) summary of subject, background, findings, and recommendations. This simply summarizes your entire report in a condensed fashion.

INTRODUCTION

Use this section to grab the reader’s attention through an example, anecdote, or story. Use this section to make your problem real, for the real people and institutions it affects. You might use material from your Topic Proposal assignment here. Conclude intro by telling your reader the upcoming organization of your report.

METHODOLOGY

This is where you show your reader that you have used good, solid, reliable sources in your Findings section. Just remember here that we want you to tell us what information you used, and why you used it. Do NOT tell us what you learned. That comes in the next section.

FINDINGS

This is far and away the most important section of your report, and what we will spend the most time on. In the Findings section, you are reporting. This is where you gather all your research and find the best, most effective way to organize your research, and allow your reader to learn everything there is to know about your topic, the problems it causes, who the problems affect, and all possible solutions you will consider. You will also use parenthetical documentation here to cite every source you use, including interviews. Here you are reporting, not interpreting. In the immortal words of Sgt. Joe Friday from Dragnet: “Just the facts, ma’am.”

RECOMMENDATIONS

This is where we learn what you recommend to your intended audience how we can best solve the problem. It’s acceptable here to explain why a possible solution is not a good idea, but definitely present clear, compelling support for why your solution or solutions are best.

WORKS CITED

This is where we see what sources you used, as documented in the Findings section.

 

 

Essay Sample Content Preview:
Student’s Name
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Recommendations on How to Improve Hotels Revenue Management
Abstract
The hospitality industry's fundamental concept of revenue management helps hotel owners in demand anticipation, availability optimization, and pricing in pursuit of achieving the best possible financial results. Revenue management entails data performance and analytics, which gives the hotel owners in demand and other consumers’ behaviors accurate prediction. In turn, this allows the hotel owners to make sensible decisions about distribution and pricing to maximize revenue, hence profit. For effective revenue management, hotels must have an approach of demand and consumer spending habits forecasts to make informed adjustments. For instance, hotels use weather forecasts, existing bookings, past data, and other industry data, imbuing the strategy for revenue management.
Introduction
According to Ivanov, &Vladimir Sashov Zhechev (180), revenue management in the hospitality sector enables hotels to cope with perishable inventories and high fixed costs. For instance, hotel rooms have fixed costs despite the number of people who will occupy the room in a day. Therefore, revenue management assists hotel managers in predicting the prices of the rooms. Failure of the hotels and restaurants to manage their revenue leads to losses. In this case, there is a need to have recommendations that will assist hotels and restaurants in maximizing revenues and profits at the end of the financial year. This essay examines the importance of revenue management in hotels, common mistakes made by hotel managers in revenue management, challenges of hotel revenue management. It recommends how to improve hotel revenue management.
Importance of revenue management in hotels
Hotel revenue management to maximize profits through cost cut downs
Xu, Xun, et al. (2019, p.124) argue that revenue management help hotels to lower their costs. Currently, booking trends rely on factors such as season, region, and the average age of travelers, amongst many other factors. To this end, the optimal rates of selling the rooms are very dynamic, and each day depicts a different trend and rate. An ideal revenue management strategy helps in determining the best price to vend rooms and enhances the hotel capability to plan through workforce optimization during peak seasons and avoiding overstaffing during off peaks.Proper management of hotel resources through need prioritization enables hotels to maximize the use of resources and cut down costs by avoiding unnecessary expenses. With revenue management, hotels can implement data-driven strategies that will influence the decision of the owners in managing the inventories (Kimes 9). This also ensures that everyone gets informed of all the decisions of the company. As a result, the revenue of the restaurants goes upwards.
Revenue management ensures that hotels generate profits from the perishable inventories in the rooms (Xu, Xun, et al., p.124).Further, revenue management allows hotels to maximize profits that a hotel can generate daily. The decision-makers are always informed of all operations that are taking place in a hotel instead of relying on the information provided by the employees...
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