Every organization running a business needs to have a budget which helps in planning the business operations. Hospitality Industry is no exception. In fact, well-defined Budget which takes into consideration all parameters helps in conduct of operations smoothly. Definition of Budget – A Budget is an approved document prepared annually to forecast the expected revenue, …
Preamble – Hotels enter contracts for a variety of services and procurement. A well structured and defined Contract is therefore essential to ensure smooth operations. Vendor Management on the other hand is so critical that one cannot exist without the other. Need for Contract and Vendor Management – A hotel cannot hope to carry out …
Contract & Vendor Management In Hospitality Industry – Consultants View Read More »
Need for Due Diligence – Anyone interested in acquiring a business enterprise needs to conduct a thorough investigation related to the business proposed to be acquired covering all aspects. The crux of due diligence remains same as shown in the above chart though aspects to be covered vary depending on the type of industry. In …
Science Of Due Diligence – Consultant’s Perspective Part-1 Read More »
What does a hotel consultant do and why would so many hospitality establishments even hire them? Well, a hotel consultant plays the most significant role in designing plans and giving practical advice to owners. He or she is in charge of implementing those plans into reality. However, the key to making such big investments into …
The challenges in the hospitality industry consist of a shortage of skilled labour, inability to adapt, insufficient marketing, difficulty to innovate, and insufficient funds. These challenges are increasing competition in the sector; increasing the need for skilled labour; and decreasing profitability. As of now, there is still insufficient capital in this industry. There are many …
Challenges And Managing Technology Systems Used in the Hospitality Industry Read More »
Hospitality consultants are now playing an important role in the hospitality industry of India. This has become very significant due to many reasons: These people have a lot of experience in their respective fields. They are also working in different hotels, and they know exactly how everything works in those hotels. Most of them are …
The Role Hospitality Consultants And Their Emerging Role In India Read More »