Money is the best! Check-in and ask for my “cash-concept”! Every entrepreneur wants and has to make money! Profit is the result of all efforts. Money is the blood in the veins of a business. But how do I increase my profits by 50% or more?
If I could, I would place an imaginary cash dispensary into every entrepreneurs office, which they could use at any given moment without debiting their account.
Increasing the turnover by 30% or more will lead to an increase in profits by 50% or more. The largest part of costs when running a hotel are the fixed costs, e.g. personnel costs, facility costs etc. These need to be paid regardless of how much turnover was made. A further factor is at which point the hoteliers receive their owed money. I have known hoteliers who have chased long earned money for up to a year. Important is a consequent change in cash management, for example, an attractive non-refundable rate. And again, I've seen hotels change their payment policies to a 100% payment in advance, even concerning bus groups, and were still able to increase their profits. Know-how!
An improved cost management through online check-in, central purchasing etc. leads to higher profits.
Check-in and ask for for my cash concept!
- Increasing turnover whilst keeping costs low
- Receiving owed money on your bank account as early as possible
- Minimising costs, for example, by central purchasing
- Better and more affordable operational procedures, for example, through an online check-in option
- No check-in without having paid in advance
- Shift in target audience
- New constructions and modernisations
- All other economic factors