Start > What is the meaning / definition of Inventory in hotel industry?

What is the meaning / definition of Inventory in hotel industry?

25 september 2018

The number of rooms available for a hotel to sell or distribute across all channels is called an Inventory.

Hotel room inventory management makes it possible to control what type of rooms and how many you make available to a particular market segment.

Inventory management in hotel industry
Sometimes, a hotel want to make accessible a certain number of rooms to a particular market, for example: a group of business people who wish to use the hotel’s conferencing facilities over a two- or three-day stay. After making this group booking, the hotel can enter into their hospitality inventory book the number of rooms filled. Based on this information they can then adjust their prices for the remaining available rooms in the hotel, if they need to.

Most hotels have a hospitality inventory management system. In fact, not to have one is a poor business decision, as knowing room availability at all times can be useful when making rapid decisions. When looking to maximise profits, having room availability data at your fingertips can give a hotel a competitive advantage in the marketplace.

 

Zoektermen: inventory management in hotel industry, hospitality inventory management systems, inventory in hotel industry, hospitality inventory, hotel room inventory management XOBLO0918-1/2

Tags: