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Extra info for CTH Understanding the Global Hospitality Industry
Environmental: architectural, accessibility, ecological – paths, hills, transport, rules & regulations, safety. Interactive: communication, attitudes of industry workers, information availability/accuracy. org Stage Characteristics Tourism/Hospitality behaviour Early Entirely dependent on parent Seaside or inland resort, with entertainment for childhood or guardian. Classic sun, sea children. and sand (3 Ss) holiday. Early More influence on decision- Resort-based holidays with nightlife. Group-based teenager making, but still dependent holidays.
It is composed of a set of demand-forecasting techniques used to determine whether room rates should be raised or lowered and whether a reservation should be accepted or rejected in order to maximise revenue. As shown in the following diagram Revenue/Yield management is based on supply and demand. Prices tend to rise when demand exceeds supply; conversely, prices tend to fall when supply exceeds demand. 4: Revenue/yield Hotels adopt yield management strategies and tactics that include: Restrictions Low demand tactics Pricing tactics High demand tactics High and low demand tactics are how the hotel should respond during high and low demand days.
Family stage – late – families with teenagers, therefore entertainment activities for teenagers, and a safe and secure environment. Empty nest – children have left home, therefore this is mainly more mature couples. This group will want social areas, such as bars and restaurants, but also a location that is not too noisy. Retired – this group may be persons as couples or singles. Older people, they will probably require some form of less active (passive) activities, and in a quiet location.
CTH Understanding the Global Hospitality Industry by BPP Learning Media