Published on March 6, 2014
Presented By: Sarbottam Silwal 20,2nd Semester
Hotel rooms have following abstracts: 1. Major Source Of Revenue 2. Highly Perishable 3. Differs As Per Establishment 4. Differs As Per Type 5. Once Build Can Be Sold Again And Again
Rack rate Seasonal rate Special event rate Corporate rate Government rate Group rate Package rate
A property management system (PMS) is a computer system used to manage guest bookings, online reservations, check-in/check-out, and guest purchases of amenities offered by the hotel. While pricing rooms, the hotel shall keep in mind that rate should be between a minimum (determined by cost structure) and a maximum (determined by competition structure)
While establishing room rates, management shall be careful about its operating costs inflationary factors, and competition. Generally, there are four popular approaches to pricing rooms: Cost Approach Market Condition Approach Thumb rule Approach Hubbart formula Approach
Introduced In The 1940s In This Approach, The Rate Of A Room Shall Be $ 1 For Each $ 1,000 Of Construction And Furnishing Cost Per Room, Assuming A 70% Occupancy Rate. Every $ 1000 Investment In A Hotel Property Should Support $ 1 In Average Daily Rate (Adr) It Is Most Effective Tool Use During The Sale And Purchase Of Hotel Property Easy To Calculate.
To illustrate suppose a 190-room hotel has costed $ 9,500,000 of Construction and Furnishing Costs. Therfeore, the cost per room is $ 50000 which would mean that the price per room shall be $ 50.
This Approach, However, Fails To Take İnto Consideration The İnflation Term The Contribution Of Other Facilities Services Towards The Hotel’s Desired Profitablity Assumes A Ceratin Level Of Occupancy Rate.
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