Hospitality Operations

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Contents page
Title page.....................................................................................................................................PG.1 Contents page .............................................................................................................................PG.2 Summary .....................................................................................................................................PG.3 Introduction .................................................................................................................................PG.4 Pricing and profitability concepts;

Pricing of product or service ........................................................................................................PG.5-6 Factors affecting revenue generation and profitability ...............................................................PG.7-8 Analyse and improve operational performance ..........................................................................PG.8-9 Approaches assessing the business performance .......................................................................PG.9-10 Measuring performance ...........................................................................................................PG.10-11 Qualitative and quantitative appraisal techniques ...................................................................PG.11-12 Planning for the future....................................................................................................................PG.14 Conclusion ......................................................................................................................................PG.15

Executive Summary
The report states the process of pricing a new product/service within a hospitality operation, in particular looking into the Premier Inn new central reservation system and how this particular product is analysed bearing in mind the different approaches to generate revenue and profitability, also focusing on the factors that will affect sales mix, customer turnover, labour intensity and the elasticity of demand. This report will introduce the operational performance, quantitative and qualitative appraisals techniques and how it’s beneficial to Premier Inn. Furthermore, analysing and evaluating the product/ service of Premier to repeat business

Introduction
Premier Inn budget hotel had to compete with a vast and diverse, ranged of luxury and budget hotels in order to establish and penetrate in the market. Consequently, a new product/ service are developed to generate revenue and increase customer turnover. To achieve the new product all hotel managers and directors must carefully consider the strategic planning before incorporating into the business. Due to the fact of the economy downturn seemed to have less impact on the budget hotels as customers trade down from luxurious hotels to budget hotels. According to the Caterer hospitality is the fastest growing industry and employees millions of people yearly and for these reasons why hospitality has also the highest percentage of unskilled staff. To overcome this on growing problem is to invest in advance technology to reduce check in time and generate income to maximise sales and profits. The idea is to reduce checking time to less than sixty seconds and for team members to interact more with the customers, potentially this will increase occupancy and attract new customers. There are various pricing techniques that need to be considered and applied to ensure customer’s get exactly what that pay for without avoiding quality.

Pricing and profitability concept
Definition price : The sum or amount of money at which an object is valued. Definition of profitability: A firm to generate net income on a consistent basis. www.ardictionary.com...
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