Hotel Revenue & Management Blog

The unofficial definition of Revenue Management used by insiders is ‘the art of turning away business’. This certainly does not apply during the current Covid-19 (coronavirus) global healthcare crisis, and the economic downturn the hotel industry is facing in its aftermath. All the standard strategies and playbooks are out of the window right now. So what to do?

It is a question I often hear when explaining what we do at XOTELS-Hotel Revenue Management Consulting. People seem surprised hotels are willing to hand over a vital part of their strategies to a 3rd party. Such a sensitive and key part to the success of your business as revenue management should not be left to an ‘outside’ company many hoteliers respond.

In over ten years of helping hotels to open and remodel successfully as a Hotel Revenue Management Consulting and Hotel Management Company, we have seen time and again at XOTELS how indispensable a hotel feasibility study is.

We have also seen how many would-be hoteliers simply assume that their vision will succeed, without conducting any notable research on building a hotel business that will be consistently profitable and competitive.

In this article we look at the steps involved in carrying out an effective hotel feasibility study and provide practical examples on how to obtain one effectively.