Peter Drucker once said, “Profitability is the sovereign criterion of the enterprise” – the gospel truth for any kind of business aiming to get on the inside track. However, the path to success in the hotel biz in particular, is labyrinthine with its myriad departments, countless patrons, and the perpetual need to stay on top of the game. These factors make it challenging for hoteliers to keep track of their performance. That’s where performance metrics come into the picture. These metrics....

Emerging trends in the Indian tourism industry: Indian domestic travel revenues: Tourism industry in India is growing at a rapid pace. According to World Travel & Tourism Council, tourism generated INR 14.02 lakh crore in 2016; this was 9.6% of GDP and supported 40.3 million jobs. It is anticipated that the tourism sector will grow at an average rate of 6.8% per annum and by 2027 it will increase to INR 28.49 lakh crore. Domestic tourism is an important segment of the tourism industry which has....

Imagine a hypothetical situation where you check into a hotel and the front desk staff is busy chatting away on the phone. Finally, after you’re assigned a room, you get into bed only to find that the sheets smell funny. You call housekeeping and they respond with an indifferent “okay, wait”. To top it off, the food that you ordered comes in cold. Will you ever book the same hotel again? The answer is most probably a big NO.   The hotel business is not an easy one to maintain. It runs 365 days....

As lucrative and enticing as the hotel industry appears to be on the outside, the process of developing a hotel right from its conception to completion can be quite an uphill struggle. This is especially true when you get on the business playground unprepared. Be it a luxury hotel-chain or an independent beach resort, the course of action more or less remains the same.   More often than not, hotel owners’ decisions and strategies are deluded by emotions and paucity of development experience.....

In the current economic situation, every penny counts. A small increase in revenue and reduction in expenses can have a significant impact on profitability. Expenses in the hotel industry start from when a person thinks to start a hotel. From an owner’s perspective, the costs stack up from the purchase of land, local clearances, obtaining debt for the project, hiring the key consultants with proper due diligence and preparing a preliminary cost sheet & cash flow chart till project....

Hotel development is quite a layered process. By layered, what we mean is that the process is anything but straightforward. It involves a bunch of professionals working in harmony to go the whole hog while factoring in several other aspects including finances, construction, licensure, and market demands. All these aspects require one thing – coordination. The process is akin to any commercial real estate development entailing the following – a concrete idea, feasibility study, physical....

Hospitality consultant companies help hotels with effective strategies and solutions to boost revenue by taking care of every aspect of the business including revenue management, market feasibility study, operations, asset management, and even exit strategy. Some hospitality consultant companies also aid in staff training. As a hotel owner, you can apply the inputs and systems to bridge any chasms between the existing position and the one you desire.  A hotel consultant’s part is a rather....

You’re perhaps aware that each year in India, a horde of hotels relinquish life within the first year itself. Have you ever wondered why? Well, aside from factors such as an inefficient staff, lack of adequate facilities and services, mediocre management, and steep tariffs, there’s another aspect that sets a hotel up for failure and that is, incompetent marketing.   In this post, we’ve curated 6 points to keep in mind for constructing a potent hotel marketing plan:   1. Conduct Market Survey &....