Hotel Supply and Demand: Way to Maximize Room Revenue in Indian Hotels

by Hotel Toiletries Toiletries for Hotels

In today’s competitive World, it is quite challenging to achieve considerable revenue using traditional awareness. Be it in Business or Hotel Management. India, being a country of huge population and vivid natural beauty, hotel, and hospitality industry has much flourished. However, due to increased competition in this field too, one needs to act smart and gain returns.

When it comes to economics, the fundamental law of demand and supply are the most important. The reason behind this is the relationship between demand and supply influences the rate of goods and services.

Such basic economic concepts have to adopt in the Hotel industry, especially in India. These concepts can help the Hotel Revenue Managers in day-to-day life to analyses particulars demand and Hotel Supplies in India.

Tips on Raising Hotel Revenues

1. Focus On Supply:

Generally, the supply of rooms and stay will remain the same because managers know about the total number of rooms. However, what is essential is an alteration of rates appropriately based on the supply.

In addition, one needs to change the prices according to the competitor’s rate. Hotel Supplies in India has to be very focused on new competitors and need to adjust their rates accordingly.

2. Focus on Demand:

Revenue managers need to focus on internal as well as externals. One needs proper analysis. Some External factors are:

· Various events like big concerts, ceremony sessions, sports events that help to generate considerable revenue for rooms

· Some factors based on the season like summer months are where demand is increased

· Corporate World focuses on midweek’s for hotels for meetings

· Tourism campaigns indirectly increase the fellowmen to hotels.

3. Hotels Supporting Online Booking:

In a country like India, which mostly supports digitalization have massive platforms for hotel searching and booking according to purpose to stay duration, etc. In addition, hoteliers can book hotel supplies online with trusted vendors.

Following are specific easy ways to increase revenue based on hotel supplies online:

· Forecasting Occupancy of Rooms: Managers to continuously focus on demand and supply. They have decreased the rates very sincerely based on their market segmentation,

· Forecasting Cancellation: When a Hotels room booking is canceled, Revenue manager must charge cancellation up to 50%, which heals last-minute cancellation.

· Focus on Pickup Reporting: This helps to attract more business that is direct for particular dates with exclusive offers on hotel websites and even marketing the schemes.

· OTA Access: Provide OTA full access related to inventory to sell out rooms according to their schemes.

· Proper Communication: Communication plays a vital role, and communication between Revenue Manager, Sales, and Marketing Manager about need periods is essential.

· Focus on Implementing New Technologies: New Systems with efficient technologies can help revenue managers to channelize supply according to demands.

Conclusion:

Hotels in India can maximize revenue by adopting new techniques and making smart decisions. Every hotel follows basic norms and regulations; what the revenue managers need to do is to analyses the various essential elements properly.