The Future of Hotel Revenue Management

The Future of Hotel Revenue Management

The Future of Hotel Revenue Management

We live an IoT era where even the basic activities of our lifestyle are now dependant on digital technology, AI and Data. Right from ordering our favourite food to purchasing emergency medicines online, everything revolves around sophisticated digital resources and devices. Needless to say, the role of Artificial Intelligence and Data Analytics has found its way into hotel revenue management as well!

Hotels around the world are deploying big data and artificial intelligence to keep track of industry pricing, rival promotional strategies, and even discounts. Today’s smart hotelier is all about strictly keeping tabs on market occupancy, price optimization alerts along with gaining insights into clientele trends. This helps him to forecast the pricing strategy with lucrative offers and privileges which not just increases the guest frequency but ensures maximum returns and high profitability as well. Thanks to the prowess of AI, machine learning and data science that helps hoteliers to take speedy and effective decisions to drive growth and performance of their hospitality set up. This also beautifully sums up how imperative automation technology actually is for The Future of Hotel Revenue Management.

Tools like IBM Watson, Rev+, Microsoft Azure etc. are increasingly becoming popular due to high demand from hospitality organisations. These tools help in predictive analysis, dynamic pricing and quality process all of which encompasses hotel business intelligence. The hospitality industry is a diverse field which also includes sports, theatre, cinema and concerts apart from temporary stay options. AI can help increase revenue by adapting prices to fluctuating demand.

Smart IoT Technology in Hotels has opened up many exciting avenues when it comes to fully automated rate updates and reservation delivery, automatic payments upon reservation or check-in and so much more. Discover and harness the potential of  The Future of Hotel Revenue Management with Lekhwar Hospitality. We provide expertise in the form of manpower as well as technology that ensures steady growth, immense profitability and affordable deployment of resources.

What is the main purpose of hotel management?

What is the main purpose of hotel management?

Being one of the leading manpower consultants for hotel management in India, we present to you this blog about everything you need to know about hotel management. The process of overseeing every operation that guarantees consistent growth and development of the hotel is defined as Hotel management. A person responsible for managing a hotel must have a knowledge of distribution strategy, finance, customer service, staff management, marketing, and more.

The main purpose of hotel management is to ensure a constant influx of visitors and guests to the hotel throughout the year, showcase the wide variety of services and USPs and how it benefits the visiting guests through marketing initiatives. Moreover, it also involves driving qualitative leads through innovative business strategies.

  • Hotel administration
  • Finance
  • Hospitality
  • Catering management
  • Housekeeping
  • Marketing  and
  • Accounts

Being the leading hotel consultants in India, Lekhwar Hospitality has helped numerous entrepreneurs and hoteliers to run a hotel successfully while managing the other aspects of their business at the same time. We are very well aware that hotel management cannot be treated in a ‘set and forget’ way. Our team of hotel management consultant experts help you constantly evaluate performance in every facet of your hotel business and making necessary adjustments.

One that knows Hotel Management will be able to develop it as an ecosystem that not just stays in business profit but will grow over time. Expertise in Hotel Management leads to the following positions  –

  • Accommodation manager
  • Retail manager
  • Event organiser
  • Hotel manager
  • Catering manager
  • Restaurant manager
  • Pub manager
  • Customer service manager
  • HR manager
  • Travel agent

It will get healthier the better you manage it. You will not just be able to upgrade the standards of your services and charge higher rates, but will also be well-equipped to pay higher salaries to your staff and make their life better in every way. Hope you got a deeper insight into what is the main purpose of hotel management. Maximize your revenue, learn to adapt to the latest strategies to outwith the competition and keep up with the growing demands of customers by adapting their services to the customers’ preferences with the top Hotel Management

Consultants in India – Lekhwar Hospitality.

How Much Do Hospitality Consultants Charge?

How Much Do Hospitality Consultants Charge?

One aspiring entrepreneur just launched his new restaurant at a prime location.

A hotel chain owner considers his newly launched resort, the apple of her eye.

What connects themes both? Business performance. And what guarantees business performance? A professional hospitality consultancy.

Hospitality consultants design the menu, train staff, help hire and stay on until the requisite hospitality establishment can function on its own. Now in both cases mentioned above, the one question that hovers around in their minds is  – How Much Do Hospitality Consultants Charge?

Well for starters, it is difficult to point out the specifics. This is because most hospitality consultants vigilantly guard their prices. And speaking of first-timers or relatively fresher consultant companies, they do not have a strong client relationship portfolio. Moreover, many hospitality consultants charge by the hour, by project or by time period. Secondly, it also depends upon what kind of hospitality set up one owns. Any restaurant, hotel, or even a resort for that matter, gearing up for an on-time on-budget opening is a unicorn. Which is why the best and wisest approach that hotel consultants adopt is by time. It can range from anywhere between a 6-months to 18-months projects. In India, the minimum charges for a professional hospitality consultancy per month start from Rs.50,000.

Being the leading hospitality consultant in India, we are well aware of the hospitality clients needs and requirements. When they ask – Is all that advice worth the investment of time and money? We strive hard to be the right and the best answer they get. Apart from the main consultation our prices generally include insurance, office support, transportation or other expenses covered during the project completion. We have an established client portfolio covering marquee hospitality brands who have uncovered their business potential within a short period of time. For affordable rates, timely completion and service excellence get in touch with the top hospitality consultant in India.

What Skills Do You Need To Be A Hotel Consultant?

What Skills Do You Need To Be A Hotel Consultant?

Have you always garnered ambitions to become a bigshot consultant in the hospitality industry? Do you dream of owning your own hospitality set up one day? Then its time to refurbish some super skillsets essential for an ideal hotel consultant. Lekhwar Hospitality has carved a niche identity in producing highly skilled manpower for hotels, resorts, homestays, hospitality chains etc. Years of market exposure and service excellence makes it the top hotel manpower consultant in India.

So what skills do you need to be a hotel consultant?

Great Communication Skills – No, it does not only mean having a sharp sales acumen or the gift of the gab to sell products and services to the customers. Only a great listener and observer can be the greatest communicator. Some of the essential skills include the power of listening, the power of hearing, the power of asking the wrong person the right question. What one says must be concise, to the point and customers must not be made to feel as if products and services are being forced on them.

Maintaining Positive Guest Relationships – Any relationship between tow humans needs work. And speaking of guest relationships for a hotel consultant – it is loaded with investment in efforts and time! Right from providing proper facilities to the guests on time, making them feel comfortable and happy, one has to literally pamper them till the end of their stay. Loyalty programs, special privileges, lucrative offers, compliments etc work a long way into earning repeat customers and generating revenue. At the end of the day, it is all about successful chemistry!

Enterprising – Hotel consultants’ reputation rests upon their very enterprising skills. This means they have to be tech-savvy. They must constantly oversee that the hotel website is regularly updated and reinvented in terms of design, facilities and rates, travel location, offers and activities. Secondly they must take advantage of this IoT augmented era – clients nowadays mostly search for hotels based o facilities, reviews, specific locations such as airport, beach, highway etc. The hotel consultant must ensure that the hotel fares well on search engine sites such as OYO, Trivago, MakeMyTrip, etc. Last but not the least, promotions are an essential step to maximize brand engagement, customer retention and revenue generation. Special event offers, weekend offers, seasonal offers and discounts will always attract customers and the consultant must carry their online and offline promotions in full swing.

Hope this article provided you with a deeper insight into what skills do you need to be a hotel consultant. If you’re a hospitality entrepreneur looking for skilled staff or an aspirant looking forward to upgrading your career, get in touch with us at Lekhwar Hospitality.

Top Hotel Revenue Management Experts In India

Top Hotel Revenue Management Experts In India

The study and implementation involving demand anticipation,  optimization of availability and pricing, in order to achieve the best possible financial results in any hospitality setup can be defined as hospitality revenue management.

The goal of hospitality revenue management is to simply manage the revenue to expenditure ratio in the most effective manner. If you own a hotel, restaurant, homestay, resort, or even a small-scale eatery, you must be knowing that what you invest, must come back to you as 2X return at least. Collaborating with expert hospitality revenue managers in India, will reduce your workload by half, guarantee you maximum returns while maintaining consistency in business growth and development. You can have it all by hiring the best Hotel revenue management experts in India – Lekhwar Hospitality.

Remember, the early bird catches the worm. Having a well-planned financial structure and contingency plan to go with it during unprecedented circumstances is important. And the financial experts at Lekhwar Hospaitly do just that! They help you with how to go about the planning and promotion 12 months from now. Right from target segmentation based on festivals, concerts or events that take place throughout the year, to guest & their families looking for specific kind of getaways such as ski holiday, summer getaway, or event-based trip.

Join hands with the top Hotel revenue management experts in India who help you identify and filter segments by their reason to travel. Effectively adopt innovative strategies and shape them according to the unique needs and requirements of your targets consumers. For instance, personalized and streamlined financials for better guest experience according to a family holiday, wedding, tourist event, adventure, relaxation, business, etc.

What’s more? All of the above, made possible and easy within an affordable package! Boost your revenue, forecasting, and yield strategy with the top hospital consultants in India!