BUSINESS ADMINISTRATION
OFFICE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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High demand
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Moderate demand
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Low demand
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Desperate measure before closure
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Detailed explanation-1: -Potential High Demand Techniques: Monitor New Business Bookings and use these changed Conditions to reassign Room Inventory (As Occupancy increases, consider closing out Low Room Rates and open them Only when Demand decreases) Consider establishing a Minimum Number of Nights per Stay.
Detailed explanation-2: -Yield management is the technique of planning to achieve maximum room rates and most profitable guests. This practice encourages front office managers, general managers, and marketing and sales directors to target sales periods and to develop sales programs that will maximize profit for the hotel.
Detailed explanation-3: -Reserve close to arrival dates – By allowing the reservations to be taken for a certain date as long as the guest arrives before that date, a property is able to control the volume of check-ins.
Detailed explanation-4: -Revenue management refers to the strategic distribution and pricing tactics you use to sell your property’s perishable inventory to the right guests at the right time, to boost revenue growth. Other products such as your amenities and food and beverage offerings will also come into the picture.