The Practical Guide to Understanding and Raising Hotel Profitability offers a comprehensive, easy-to-follow breakdown of how to understand profit and loss accounts for hotels. It offers practical advice on how to maximise the profits of this customer-facing business and improve performance results. Chapters cover every aspect of the profit and loss account including marketing, accommodation, food and beverage sales, quality, budgeting, event sales, and all the corresponding costs involved. It explains all the relevant KPIs and industry quirks within the profit and loss document as well as industry benchmarks to equip the reader with the skills to attend high level meetings, complete finance-based assignments and ultimately run their own business. Valuable tips from leading professionals within the industry are included throughout, giving advice on how to improve hotels’ financial results and positively influence net profit through everyday actions. Packed full of practical case studies and written in an easy-to-read-style, this book is essential reading for hospitality students and current hospitality and hotel managers.
The Practical Guide to Achieving Customer Satisfaction in Events and Hotels is the fourth title in the Routledge Series The Practical Guide to Events and Hotel Management and presents expert-led insight of customer service best practice within events and hotels. Typical to the other titles in the series, this latest book is written in a logical format and contains practical tips drawn from real-life industry examples, case studies, industry leaders, and the authors’ extensive backgrounds working in events and hotel management. Topics include definitions of customer service, an answer to that question ‘Is the customer always right?’, how to deal with complaints, how to empower staff to recover customer service, and how to turn new customers into loyal customers. This book is ideal for students of the management of events, hotels, hospitality, or tourism, to be used as a practical resource alongside existing theoretical textbooks. It is also an essential tool for anybody working in the customer-facing industries.
Prepare students for assessment and further professional development with a wealth of contemporary case studies from around the world, referencing key trends. · Discover how to integrate sustainability and environmental improvements into kitchens and eating spaces, helping to increase energy conservation and boost your green credentials. · Harness the power social media and e-marketing to proactively grow your business, online visibility and engagement. · Ensure best practice is followed where food allergies and intolerances are concerned, so you can be confident you are providing a safe experience for all customers. · Develop your understanding of nutrition and culinary medicine with a unique contribution from Elaine Macaninch, a director of Culinary Medicine UK and the co-founder of the Education and Research in Medical Nutrition Network (ERimNN) · Plan for commercial success with clear coverage of financial aspects of food and beverage management, personal development and people management skills.
This research monograph aims at developing an integrative framework of hotel revenue management. It elaborates the fundamental theoretical concepts in the field of hotel revenue management like the revenue management system, process, metrics, analysis, forecasting, segmentation and profiling, and ethical issues. Special attention is paid on the pricing and non-pricing revenue management tools used by hoteliers to maximise their revenues and gross operating profit. The monograph investigates the revenue management practices of accommodation establishments in Bulgaria and provides recommendations for their improvement. The book is suitable for undergraduate and graduate students in tourism, hospitality, hotel management, services studies programmes, and researchers interested in revenue/yield management. The book may also be used by hotel general managers, marketing managers, revenue managers and other practitioners looking for ways to improve their knowledge in the field.
'THESE SUPERHOSTS UNDERSTAND HOMESHARING BETTER THAN ANYONE ELSE. I STRONGLY RECOMMEND THIS BOOK FOR HOMESHARE HOSTS' Chip Conley, Strategic Adviser for Hospitality and Leadership, Airbnb Learn how to build a profitable, professional and sustainable homeshare business. Home Stay, also known as Homeshare, is a global phenomenon whereby ordinary people share their homes with strangers. On Airbnb alone there are now three million hosts around the world, one million more than a year ago. This book offers frank, practical and hands-on advice for those who are considering or already offering their home, or investment property, as short-term accommodation. Written by self-taught hosts who are dedicated to providing the best possible guest experience, this book provides real-life insights into the day-today experience of running a homeshare, and the lessons the authors have learned along the way. You'll find easy-to-follow instructions and advice on: - Getting started - how to market your property by defining its unique characteristics, choosing the most -appropriate online sales platform, setting rates, how to manage sales and presenting your property to attract guests - Managing the guest experience - how to ensure your guests have a wonderful experience from the moment of arrival to departure, managing transitions between guests effectively and consistently, and how to manage guest reviews - The business of homeshare - financial management, reporting and how to drive your business further.
This Environmental Teaching Package is a joint initiative of The International Hotel and Restaurant Association (IH&RA), the United Nations Environment Programme (UNEP) and the International Association of Hotel Schools (EUHOFA International). It is a comprehensive and user-friendly kit, which includes detailed information for teachers and trainers intending to help hospitality education centers develop and expand their environmental curricula. The teaching package may also be used to introduce environmental issues into the education and training agendas of tomorrow's hospitality and tourism professionals.
In this pathbreaking book, world-renowned Harvard Business School service firm experts James L. Heskett, W. Earl Sasser, Jr. and Leonard A. Schlesinger reveal that leading companies stay on top by managing the service profit chain. Why are a select few service firms better at what they do -- year in and year out -- than their competitors? For most senior managers, the profusion of anecdotal "service excellence" books fails to address this key question. Based on five years of painstaking research, the authors show how managers at American Express, Southwest Airlines, Banc One, Waste Management, USAA, MBNA, Intuit, British Airways, Taco Bell, Fairfield Inns, Ritz-Carlton Hotel, and the Merry Maids subsidiary of ServiceMaster employ a quantifiable set of relationships that directly links profit and growth to not only customer loyalty and satisfaction, but to employee loyalty, satisfaction, and productivity. The strongest relationships the authors discovered are those between (1) profit and customer loyalty; (2) employee loyalty and customer loyalty; and (3) employee satisfaction and customer satisfaction. Moreover, these relationships are mutually reinforcing; that is, satisfied customers contribute to employee satisfaction and vice versa. Here, finally, is the foundation for a powerful strategic service vision, a model on which any manager can build more focused operations and marketing capabilities. For example, the authors demonstrate how, in Banc One's operating divisions, a direct relationship between customer loyalty measured by the "depth" of a relationship, the number of banking services a customer utilizes, and profitability led the bank to encourage existing customers to further extend the bank services they use. Taco Bell has found that their stores in the top quadrant of customer satisfaction ratings outperform their other stores on all measures. At American Express Travel Services, offices that ticket quickly and accurately are more profitable than those which don't. With hundreds of examples like these, the authors show how to manage the customer-employee "satisfaction mirror" and the customer value equation to achieve a "customer's eye view" of goods and services. They describe how companies in any service industry can (1) measure service profit chain relationships across operating units; (2) communicate the resulting self-appraisal; (3) develop a "balanced scorecard" of performance; (4) develop a recognitions and rewards system tied to established measures; (5) communicate results company-wide; (6) develop an internal "best practice" information exchange; and (7) improve overall service profit chain performance. What difference can service profit chain management make? A lot. Between 1986 and 1995, the common stock prices of the companies studied by the authors increased 147%, nearly twice as fast as the price of the stocks of their closest competitors. The proven success and high-yielding results from these high-achieving companies will make The Service Profit Chain required reading for senior, division, and business unit managers in all service companies, as well as for students of service management.
This introductory textbook shows you how to apply the principles of marketing within the hospitality industry. Written specifically for students taking marketing modules within a hospitality course, it contains examples and case studies that show how ideas and concepts can be successfully applied to a real-life work situation. It emphasizes topical issues such as sustainable marketing, corporate social responsibility and relationship marketing. It also describes the impact that the internet has had on both marketing and hospitality, using a variety of tools including a wide range of internet learning activities. This 3rd Edition has been updated to include: Coverage of hot topics such as use of technology and social media, power of the consumer and effect on decision making, innovations in product design and packaging, ethical marketing and sustainability marketing Updated online resources including: power point slides, test bank of questions, web links and additional case studies New and updated international case studies looking at a broad range of hospitality settings such as restaurants, cafes and hotels New discussion questions to consolidate student learning at the end of each chapter.
This book provides an in-depth examination of the growing Asian tourism market and consumption in Arctic destinations. Through five parts, the book covers Asian mobilities consumption as an extension of Arctic international politics, the transportation sector and green cruise tourism, and ethnicity, culture, and history. It contributes to further understanding of the impacts of increased tourism in these polar regions by exploring climate change, debates around emerging economies and global power roles in the political, socio-economic, security and legal issues of the Arctic and Antarctic and associated polar strategies and policy. By drawing on a range of disciplines and with contributions from experts in Arctic destinations or who are associated with the Arctic, it further provides a holistic framing of emerging demand and mobility patterns of Asian tourists in a polar context. Asian Mobilities Consumption in a Changing Arctic will be valuable reading for students and academics across the fields of tourism, economics, sustainability, development studies as well as other social science disciplines.
