Comment: hotels should also track their event venues weekly
In an opinion piece published on Hospitality Net, the author proposes extending the weekly revenue tracking that hotels apply to rooms to meeting and event spaces as well.
The author of an opinion piece published on Hospitality Net proposes that hotels apply weekly revenue tracking for room sales to event and meeting spaces as well. In his view, while hotels regularly track room revenue, revenue from renting functional spaces is tracked separately and in a less structured manner.
The author suggests combining event revenue with room revenue in a single view to improve decisions on group and event bookings. This approach would allow the hotel to see both the venue and the guests' rooms in the same picture.
For hotels in Azerbaijan with conference and wedding-banquet venues, this requires moving away from the habit of assessing the impact of event bookings on room occupancy separately. The article does not present a specific market or figures, only a management approach.