7 Facts About Hotel Management Firms That Will Blow Your Mind
The hotel industry is a multi-billion dollar market with a lot of moving parts. When you're considering the hotel management firms, there are a few things you should know about their day-to-day operations. They are responsible for the financial, physical, and logistical operations of the property. Running a hotel is an incredibly complicated process that requires an extensive amount of knowledge. That's where the hotel management firms come in. With their expertise, they are able to keep your business running while you focus on other aspects of it. Here, are 7 facts about hotel management firms that show how important they are for your business. The average revenue generated per room is $59,600 The top 10% of hotels account for over 65% of hotel bookings made annually Hotel management firms can make up to $200 million in annual revenue 72% of all lodging transactions occur via the internet 72% of travelers prefer to work with a local property rather than a chain once they’ve a...