Want to improve the hotel’s bottom line? 5 Proven Tips including using Hotel PMS System
The bottom line, The ROI (Return on Investment), The Profit margins! Not just in hospitality, the bottom line matters for every business. At the end of the day, we are working for the money, right? When it comes to a hotel, the main thing about achieving high profits is keeping hotel operating expenses under control. High costs and wasteful practices are hurting your hotel’s margins which can easily be avoided with technology tools such as hotel software systems , smart energy systems and more. On the other hand, it’s essential to have reasonable cost control to maximize profit. Speaking of expenses, a hotel has two types of operating costs: Fixed and variable. Fixed costs are those which you cannot avoid no matter how much business the hotel does. Examples include taxes, insurance premiums, rent, employee salaries, and more, which will remain unchanged regardless of occupancy, sales volume or revenue generated. This does not mean that you can’t reduce fixed costs; the cha...