Differentiate this particular sector. It will allow
Differentiatefrom the competitors InAustralia, the overall hospitality sector falls under the notion of perfectlycompetitive market structure, where the options of the buyers are diversified.
In order to evaluate the proper decision making process, with the view ofincreasing RevPAR, hotels need to analyze the decision making process of itskey competitors in this particular sector. It will allow the organization toprovide better opportunity as well as better facilities to its guests, whichdevelop a proper competitive advantage for the organization. In return, it willautomatically allow the organization to focus on RevPAR. Make theemployees happyWiththe view of developing a proper business management, it is equally important tofocus on both the demands of the customers as well as the employees. If theemployees of the organization are satisfied, it will bring certain positiveimpacts in the overall managerial procedures and more importantly, it will enhancethe RevPAR of the organization (Walker and Walker, 2012).
The role of theemployees contributes as one of the most essentials parts in the process ofachievement of the common organizational goals and objectives.CustomersatisfactionThedemands and wants of the customers is one of the crucial factors, which oftenaffect the revenue management of the organization. Revenue Management mustfocus on all key attributes of the customers’ demands and wants in order toattract them from other competitors. Because the competitive advantage isincreased, it will automatically develop a proper RevPAR.
In addition, revenue managersneed to balance between meeting the customer needs and profitability of thehotel. Sometimes managers should not put profits on the top; they need to creategood relationships with customers to get good impression in customer’ minds andexpand loyalty customers.