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Hospitality Operations and Revenue Management - Doc

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Added on  2021-02-18

Hospitality Operations and Revenue Management - Doc

   Added on 2021-02-18

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Hospitality operations andrevenue management
Hospitality Operations and Revenue Management - Doc_1
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................2TASK...............................................................................................................................................21. Financial contribution of room's revenue...........................................................................22. Principles of pricing and evaluation of its benefits ...........................................................43. Methods used to optimise profitability at full capacity......................................................54. Various laws and legislations applied on hospitality industry...........................................65. Identification of various customer needs and methods to fulfil them................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
Hospitality Operations and Revenue Management - Doc_2
EXECUTIVE SUMMARYThis project is summarised to ascertain revenue generating capacity of a hotel against theservices provided by the guests. Crowne plaza is a multinational hotel chain which has itsheadquarters in United Kingdom and operates in around 50 countries and has 400 hotels in total.In this project report various pricing principles are evaluated in order to identify benefits of theseprinciples to earn high profitability. Crowne plaza group of hotels has classified their sales into two categories and they arepeak period and valley period. At the time of peak period Crowne plaza faces the situation of fulloccupancy and to increase their earned income in this situation, they exercise severaltechnological tools. 1
Hospitality Operations and Revenue Management - Doc_3
INTRODUCTIONHospitality sector is a broad industry which is engaged in hotel business, event planning,tourism etc. which generates high revenue from the services provided to the customers. In thisproject report, Crown plaza group of hotels is chosen to determine revenue generation and itsclassification. Various legislations and technological factors applied on this sector are discussedin this report. This project report includes various different aspect of hotel division, a room'scontribution in the overall profitability of hotel is discussed along with principles of pricingwhich helps in allocating prices to various hotel rooms and services. Technological factors whichhelps a hotel increase their income at the time of full occupancy and laws which which areapplied on hospitality industry like minimum wages act, disability act and many more. TASK1. Financial contribution of room's revenueCrowne Plaza is a multinational chain of hotels which serve their clients which upscalehotel room and other services. This hotel chain has several hotels spread over the world. Theyfacilitates their customers with ample of services such as gym, spa, entertainment area etc. Everyyear this hotel chain generates total revenue of around 4 billion dollars from their 100000 roomsand numerous utility services (Anderson, 2010).Revenue generated from a room and its services are described below:Room facility – Crown plaza facilitates their visitors with numerous room options likenormal room, deluxe rooms, double or triple occupancy rooms, suites, honeymoonpersonalised suites, villas and even individual rented bungalows. Cost of these roomsvaries from nature of the rooms and location of these rooms, revenue generated fromthe hotels of United Kingdom and United states are relatively higher than the incomesgained from the hotels of Asia. Average revenue of per room single occupancy isamounted to be 5000 dollars per month. Room division generates around 15% of theroom's revenue.Breakfast and other meals – Crown plaza group comes under 5 star hotel categorywhich has primary objectives of profit maximisation and client satisfaction. Crownplaza provides all meals options included and non included in room costs. Most of theCrowne plaza hotels have restaurants and bars which are used by hotel's guests and2
Hospitality Operations and Revenue Management - Doc_4

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