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The Diamondback Plaza Hotel

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I. Title The Diamondback Plaza Hotel II. Executive Summary The Diamondback Plaza, owned by Dwight Robinson, is an enormous hotel found in a popular vacation area. The hotel has a reputation among local hoteliers of having casual elegance and always sticks to the “rack rate”. But his dignified advertising isn’t helping him to reach the 78 % average nightly occupancy.

So, Robinson hired a consultant that will help him. The consultant, after studying the situation, came up with a suggestion: Mr. Robinson, your rooms are not yielding the income that they might because you establish one price for your rooms and then sit back hoping people will stay with you.

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In today’s market that strategy won’t work; you have to manage your situation to improve your yield per room.

You need to use all available means to lure travellers into your hotel when you see at a certain time in the evening that your hotel is not going to be full, you have to cut prices until your occupancy rate is over 95%.

Follow this principle: don’t go to sleep yourself until your get people to sleep in all your rooms. Your debt relative to your property value is low: you don’t have high interest charges to cover. So you can offer lower room prices than your competitors and still make a profit.

Cite this The Diamondback Plaza Hotel

The Diamondback Plaza Hotel. (2016, Oct 17). Retrieved from https://graduateway.com/the-diamondback-plaza-hotel/

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