A study on Recommendations on How to Improve Hotels Revenue. Outline
TITLE PAGE
TABLE OF CONTENTS
EXECUTIVE SUMMARY
Brief (one-two page) summary of subject, background, findings, and recommendations. This simply summarizes your entire report in a condensed fashion.
INTRODUCTION
Use this section to grab the reader’s attention through an example, anecdote, or story. Use this section to make your problem real, for the real people and institutions it affects. You might use material from your Topic Proposal assignment here. Conclude intro by telling your reader the upcoming organization of your report.
METHODOLOGY
This is where you show your reader that you have used good, solid, reliable sources in your Findings section. Just remember here that we want you to tell us what information you used, and why you used it. Do NOT tell us what you learned. That comes in the next section.
FINDINGS
This is far and away the most important section of your report, and what we will spend the most time on. In the Findings section, you are reporting. This is where you gather all your research and find the best, most effective way to organize your research, and allow your reader to learn everything there is to know about your topic, the problems it causes, who the problems affect, and all possible solutions you will consider. You will also use parenthetical documentation here to cite every source you use, including interviews. Here you are reporting, not interpreting. In the immortal words of Sgt. Joe Friday from Dragnet: “Just the facts, ma’am.”
RECOMMENDATIONS
This is where we learn what you recommend to your intended audience how we can best solve the problem. It’s acceptable here to explain why a possible solution is not a good idea, but definitely present clear, compelling support for why your solution or solutions are best.
WORKS CITED
This is where we see what sources you used, as documented in the Findings section.
Introduction
The current report aims at discussing the concept of revenue management in the hotel industry and how companies within this sector should improve this aspect.
The paper first discusses the importance of revenue management in the hotel industry.
Common mistakes done by managers as far as the management of revenue are concerned are discussed.
In addition, challenges concerning revenue management in the field of hotels will be discussed comprehensively.
Finally, the paper will provide several recommendations that hotels should adopt to improve their revenue management
Methodology
Information was obtained from peer-reviewed articles with relevant information about revenue management. Databases such as Google scholar were used to obtain scholarly articles. After thorough searching, four articles were selected for the study.
Findings
Importance of Revenue Management in Hotels
Overall, revenue management plays a crucial role in helping hotel companies understand the behavior of the customers which helps them generate higher revenues and utilize profits wisely.
Thus, effective revenue management has several benefits such as the ability to predict the needs of the customers, formulation of a more effective pricing strategy, strong relationship between the company divisions and expansion of available markets.
Common Mistakes Made by Hotel Managers in Revenue Management
Ignoring time; most hotels spend too much time and resources on promotions, meetings, and activities that do not boost revenue
Using wrong metrics
Poor utilization of technology. Managers fail to properly use the current technologies such as online booking which has greatly contributed to the generation of low revenues
Most managers are afraid of making changes
Fear of online travel agencies (OTAs). OTAs plays a cru...
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