Profit and average room rate at the UK’ s chain hotels continued to increase in November, according to the latest HotStats survey from TRI Hospitality Consulting. Across the total UK sample of 462 hotels, income before fixed charges (IBFC) – also known as gross operating profit – rose by 5.6 per cent to £ 52.81 per available room. Average room rate increased by 7.4 per cent to £ 95.03 in November, a similar rate of growth to the 7.2 per cent achieved during the year so far. In London, profit grew by 7.9 per cent to £ 82.19 per available room.
London’ s hoteliers continued to achieve rate growth at near annual levels with an 8.9 per cent increase taking average room rate to a new high of £ 125.85. The suppliers have undergone a drastic change over the years and with it, their bargaining power also has increased. In 2000, there were a number of players in the field, subsequently, it got narrowed down and consolidation is seen in this market. This increases the bargaining power of the suppliers. Here the customer is the hospitality enterprises.
Evaluation is an important function of organization management. Evaluation is a command, over check, power, and authority to manage a responsibility given by the higher management. So the Evaluation process consists of the three basic steps. They are as follows: Establishing standards, Measuring and comparing the performance against the standards, Taking corrective actions. Through these steps, the organizations provide a standardized format to regularize the concern’ s goal o be an effective one. Establishing standards: each and every organization should have an initial goal to achieve within the estimated time. So they need to plan the steps to achieve these in a short time period.
So they format a standard to measure the performance of the organization for its future use. Consider the example, an institution follow the NAAC standards to get their recognition. So NAAC has given certain rules or formats to be satisfied by the institution for its approval. The organization performs its own key result areas and categorizes them.
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