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Revenue Management in the hosting industry predicts that it would market the right room to the right customer at the right time and at the right price (Tranter, 2013). However, this concept includes the sale of the right rooms using the right sales channel with the required productivity of the commission. In addition, I have learned that sales management helps to forecast customer demand in order to optimize price and inventory supply with a view to optimizing revenue growth. Revenue managers are interested in collecting statistics on the hosting industry/market all day, so that they can respond appropriately. They use the information gathered to segment the market and adjust the product via distribution to the right customers at the right price and time.
Anyone who wants to pursue revenue management as a career has to start working as a receptionist, particularly in reservations in order to understand operational processes which will help them to become more competent in the long term as revenue managers. On top, they should work as reservation`s manager or assistant manager under the close supervision of a knowledgeable and experienced revenue manager. This will serve as a good basis for the managers to rise up in the ranks. Likewise, one can apply for the entry-level position in the revenue or yield management department of a large hotel or a hotel group.
I will care about the revenue management while working in the lodging operations since revenue management is an integral part of a hotel`s operations that propel many actions and decisions in the adjoining departments.
Robotics in the hotel industry was actually among the hottest topics during the plenary session, where most discussion centered on technology as well as the concept of hotel in the future. Hospitality industry basically is all about serving people. However, this industry will not remain as it is in the future following the invention of robotics. Hotel and Motel robots which perform tasks such as cleaning rooms and delivering amenities to the customers or guests will be the norm of the hospitality industry in the next 10 years. Despite the robotic technology not fulfilling now, there is an anticipated surge in hotel and motel robots will be largely attributed to the falling cost of technology as well as guests or customers becoming more familiarized to this robotics concept. According to the early hotel robotics adopters, robotic devices like Maidbot and Relay robot of Savioke are gaining acceptability due to their efficiency in delivering items like bottled water and toiletries to guests as well as in cleaning rooms (Partridge, 2010). In addition, the robotic technology in the hospitality industry can not only help in directing and parking of the guest cars in the hotels but also in driving guests to their destinations. Actually, in the next 10 to 15 years, people will not be driving their cars; instead, robots will be driving them. Besides, robots are becoming a novelty among the family travelers. With amenities like free WiFi having been made the norm and essential together with services like keyless entry, true mobile device anticipated accelerating in the industry in the future; service robotics and virtual reality hotel property tours were discussed in the trending tech talk plenary session as the next hospitality technology wave over the next 10 years. As much as the elevators in the hotels have improved technology, the inclusion of the robots will see them work for 4 hours and on routine. Accordingly, the hotel management will not be worried about sudden battery run outs.
When I toured the HX tradeshow floor, I was interested in one of the products which they use in warming and cooling meals for their customers depending on the customer needs. The microwave oven is an automated machine that customers can operate on without the assistance of the hotel attendants. The customers can adjust the temperatures as per their preferences using the button on the right-hand side of the microwave oven. The microwave can be used to warm or cool multiple meals placed in its compartments at a time. The photos below show the microwave.
During the field trip, the most interesting person I met was David Difalco who is the Renaissance New York Midtown hotel`s general manager. Difalco influenced me on how to explore jobs and careers and how to use networks to find jobs after college. Also, he emphasized on how good leadership and culture in the hotel are essential its success. Particularly, he mentioned how their good leadership has seen it record only 7 percent employee turnover which is a less percentage compared to most hotels whose employee turnover percentage is between 20- 30 percent.
Partridge, K. (2010). Robotics. New York: H.W. Wilson Co.
Tranter, K. (2013). Introduction to Revenue Management for the Hospitality Industry: Pearson New International Edition. Pearson.
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