Here are the Hospitality Rising Star of the Year finalists at the 3rd Indian Hospitality Excellence Awards.

Please help your favorite hotelier win.
https://www.hozpitality.com/personal-voting-INDIA

#hozpitalityexcellenceawards #hotelsinindia #kushalranjan #pridehotel #mohdravish #crowneplazaokhla #nelsonsumitgomes #ihghotel #ozagerkhan #hyattregencyahmedabad #pramitaguha #doubletreepune #satishdurankar #theparkindore #sonugupta #hospitalitytipoftheday #vikaskumarchona #sheratongrandchennai

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Here are the Hidden Gem of the Year of the Year finalists at the 3rd Indian Hospitality Excellence Awards.

Please help your favorite hotelier win.
https://www.hozpitality.com/personal-voting-INDIA

#hozpitalityexcellenceawards #hotelsinindia #hiddengem #arseeparween #pridehotel #ashoksivashankar #sheratonchennai #laxmitodiwan #indianwomeninhospitality #manoharsingh #crowneplazaokhla #nidhigoyal #saurabhthakur #radissonjodhpur #sonugupta #hospitalitytipoftheday

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Here are the Hospitality Educator of the Year finalists at the 3rd Indian Hospitality Excellence Awards.

Please help your favorite hotelier win.
https://www.hozpitality.com/personal-voting-INDIA

#hozpitalityexcellenceawards #hotelsinindia #educator #mentor #divoychhabra #ctinstitute #sallakumar #ihmahmedabad #sandiptapkir #ihmsolapur #sanjeevsaxena #assamuniversity #rkbhandari #banarsidaschandiwalainstitute #sonugupta #hospitalitytipoftheday

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Hospitality Tip Of The Day (54)
#hospitalitytipoftheday (Daily Hospitality tip for hoteliers)
Fair Market Share
What is the meaning/definition of Fair Market Share in the hospitality industry?
Fair Market Share is an indication that a hotel’s overall performance stacks up against its immediate competitors.
A hotel within a competitive set can work out if it’s getting its Fair Market Share through a simple calculation:
Fair Market Share = Total number of rooms at the hotel / Total number of rooms in the comp set
However large or small the comp set, a hotel trying to make itself more competitive can use a Fair Market Share tool to compare its individual percentage to their comp set.
During peak times, a hotel can gather important info about the performance of the other hotels in their comp set. Then, using a Fair Market Share tool, it can discover how it compared to other hotels during those busy times. This can help when planning ahead.

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Hospitality Tip Of The Day (53).
#hospitalitytipoftheday ( Daily Hospitality tip for hotelier)
Calculating The Room Rate Spread:-

Rate Spread is another important matrix used by revenue management team in large hotels or by the front office manager in smaller hotel operations.

The value for rate spread is derived from various room types in the hotel in order to make essential yield decisions by the hotel management. Rate Spread is calculated by taking the difference between Potential Average Double Rate and Potential Average Single Rate.

The Formula for Calculating Rate Spread

Rate Spread = Potential Average Double Rate - Potential Average Single Rate

Rate Spread of Hotel:

Example

Potential Average Single Rate = 150.00
Potential Average Double Rate = 225.00
Rate Spread of the hotel = 225.00 - 150.00
= 75.00

Example 3 (Monthly Rate Spread):

Potential Average Double Rate For the Month = 158.88

Potential Average Single Rate For the Month = 129.69

Rate Spread of the hotel = 158.88 - 129.69

= 29.19

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