6/13/2023 0 Comments Hotel accounting in excel guide![]() Rooms are the main source of revenue, and a rented room enables you to generate revenue from other inventory items and services you have available. Your rooms are the primary hotel inventory. Inventory in the hotel industry can be divided into two categories – primary and secondary hotel inventory. The fact that you need to know what is available at the moment and that you also need to dynamically price your rooms and services makes hotel inventory management even more challenging. With more items and services on the plate, it becomes increasingly harder to optimize and manage hotel inventory profit-wise. In fact, the hotel inventory is growing year after year at a staggering 60% across the world. That means everything ranging from rooms and items used by housekeeping such as linen and laundry to restaurant items, various equipment, services, and ancillaries. It includes every resource used in a hotel on a day to day basis. Today, this term encompasses so much more than available rooms. At the start, hotel inventory only referred to the number of rooms available for a sale or distribution. The hospitality industry has evolved over the years so did the aspects of the business models and management. ![]() Always Use Data to Support Your Decisions.Use Data to Optimize Hotel Inventory Management.Assess the Purchasing Behavior of Your Guests.Cross-reference Your Inventory With Occupancy Rates.Collect Data on Your Current Hotel Inventory.Are you looking to sell more pre-arrival room upgrades?.
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