Posts Tagged global economic slowdown
Hotel Booking Solutions – Relevant Tool For Hard Times Ahead
Internet hotel marketing has a very effective means for hosting providers to sell directly to consumers. Given that hotels are among the most intelligent of all direct selling industry, you can expect that they will be ahead of the pack when it comes to the forefront of marketing trends web. But unfortunately, many hoteliers are not even close to understanding the Internet’s inherent ability to drive business growth.
Many hotels – especially smaller ones – have not even considered the integration of hotel reservation software on their websites. Worse, some hoteliers are being duped by the online intermediary bodies do not even have a clue about the hospitality industry. These are largely caused by the absence of online marketing solutions.
But instead of refusing to take online marketing strategies and the use of hotel booking solutions, hosting providers must find ways to effectively integrate online strategies into their business. This can be especially useful now that the industry of hospitality and tourism feels the heat of the global economic slowdown.
Today, it is not surprising to hear falling rates of hotels and booking cancellations. Even corporate travel accounts are renegotiating with suppliers of accommodation available, and that could mean a significant decrease in the family and leisure travel as well. So what can you do? Consolidating your Internet marketing strategies and the use of hotel booking solutions that can enhance customer experience on your website can help you in more ways than one.
As to its booking engine, you do not have to worry about spending too much. You can find several software vendors booking hotels or you can visit the website developer, if any. But if you decide to integrate a reservation system on their website, you need to know certain aspects of software that can negatively affect the behavior of web visitors and, in turn, influence their hotel booking decisions. Here they are:
Tags: booking decisions, global economic slowdown, hotel reservation software, internet marketing strategies, online marketing strategies
The Real Estate Finance for The Hotel Industry – New Perspectives
Until 2007, most hoteliers, investors and developers when it comes to buoyant growth prospects in the hospitality industry. I had reasons to be optimistic as all the factors that influence the industry, directly or indirectly, was on a growth trajectory.
The GDP was growing as never before and everyone had their eyes on the Indian growth story. Expansion plans filled the newspapers and press releases, and investors were more willing than ever to get a fair share of the pie.
The recession, however, had plans of most of their own and devoured the cake. The global economic slowdown and its impact on India’s economy has put out the fire of enthusiasm of even the most optimistic developers and investors.
The result has been an extreme crisis for investment in the hospitality industry, along with the decrease in demand for rooms. This double blow put to rest most of the ambitious expansion plans across the country.
All players have been reviewing their development plans, due to the increasingly difficult macro economic situation at this time. The total number of rooms added is estimated that today almost half than previously announced. One quarter of the plans announced so far have not materialized, while the rest are hanging on the edge of viability.
DLF, Parsvnath and other developers of similar tables have been reduced or delayed their expansion plans. Parsvnath had plans to add at least 10,000 rooms has stopped acquiring land for the new plans than twenty hotels for those who have done the same.
There have been reports that DLF has been in talks with several hotel companies to sell eight to nine of their land zoned for hotel projects to raise funds. Unitech has sold its Gurgaon hotel project to reduce its massive debt.
The developers are more focused on completing projects in hand in planning for the future. The assignment of the strong investment plans of the hotel seems to be the best way out of the box tied players, heavily indebted to survive the current economic climate.
Financial Projections goes wrong
Seeds were sown, the cultures were fed through the tough times, but inflation when it is harvest time came, flooding the recession dragged the anticipated reward. Cost and revenue assumptions made during the good times have been so for the draw.
When it comes to disbursement of loans, real estate is now the black sheep of the family. Private banks are lending freely available earlier have dried up. Public sector banks continue to provide, albeit cautiously, now require a greater guarantee to pay the same amount.
Tags: buoyant growth, global economic slowdown, growth prospects, growth trajectory, parsvnath