Economics Of Hotel Management Summary

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OBJECTIVES

The objective of this project is to analyze:
• To analyze the strategy adopted by the hotel towards brand awareness.
• To analyze the revenue earned by the hotel.
• To accomplish growth of the property.
• To analyze financial strategies adopted by sales and marketing.
• SWOT Analysis of various properties.
• To analyze the effect in demand through content writing.

LITERATURE REVIEW

“Economics of Hotel Management” a book written by A.M. Sheela, reviews that hotel is a place where the tourist stops being the traveler and become a guest. Hotel is a property which offers a full range of accommodation and services which include suites, dinning, banquet facilities, lounges and entertainment. It is an industry aiming to make profits
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After the event the sale and demand of our property as well as the products served in Spring (restaurant) have taken a hike. The consumers got attracted towards it and the hotel has seen increase in demand irrespective of the price. It helped me to draw target audience as well as increase profile and build brand awareness working in line with the goals and objectives of my organization.
As for example: Here my organization wanted to launch a new service division and raise awareness of it in the market keeping in mind the goals are Specific, Measurable, Achievable, Realistic and Timely. By determining my goals the clear purpose of my PR strategy was to maximize the success of my PR activities.
The target audience were the individuals, art lovers and groups which in future will influence the decision making power of the products or services of the restaurant. The target audience was those people whom we wanted to attract and sell to- they were the people whom we want to communicate with in future.
The tactic which we used was by distributing a media release, social media campaigns, newsletter, blogs and public speaking. The strategy with detailed time frame helped me to organize my workload and ensured
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• With the help of SWOT Analysis which I have done last week, I tried to know the prices which each hotel is offering to their guests for room nights, banquets, conferences and leisure.
• With the help of this strategy we got to know which weakness can be converted into strength and to avail the best market price. It also helped to know how we can increase our revenue, increase our productivity, demand of our outlets, and break-even price.
The next was to attract the consumers about our upcoming new products to be served in Food and Beverages through content writing.
• It has a unique Story to tell, as our hotel’s need is to make it a priority to use the power of content writing to convey our hotel’s story and amplify that story to readers.
• The story under the guidance of my senior I wrote was on the occasion of international forgiveness day in which we encouraged one and all to forgive and forget while celebrating the re-bonding of old ties over some sumptuous moments at spring, the all-day dining restaurant. The tagline which we gave was “To err is human, to forgive, what’s better than celebrating the new bond over some sumptuous indulgent

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