Technology is making deep inroads into the hospitality industry, and hotels across the world are looking to use technology to make operation smooth and efficient. The quest for performance and efficiency in the hospitality industry has given rise to the development of a host of hotel management systems. In order to keep our Hotel Management students in with the changing technological trends in the industry, INLEAD recently organized an Industry Expert Workshop with Mr. Tarun Dua - Associate Director HRD & Training, Country Development & Management Services Pvt. Ltd.
Mr. Dua talked about the various issues that are connected with the MIS for hotel services, the intricacies involved and the precision required in maintaining the same. The main agenda was to make the students aware about the importance of quality and maintenance of MIS in hotel and help them assess the amount of time and energy spent towards data management and the precision involved.
Mr. Dua led the students through the basics of MIS and also shared some very insightful and real time reports from his hotel and explained about the concept of MIS in detail. He mentioned about the 5 elements of MIS -- Timeliness, Accuracy, Consistency, Completeness and Relevance, and with the absence of even one the report generated will not hold any value. He further stated that for any hotel, room is a highly perishable product and Room Sales is of utmost importance on a daily basis. Rooms generates 70 – 80% profit margin on sales and is also the most expensive commodity for a Hotel.
He also explained how with the growing competition in the industry, it’s important for a hotel to understand the needs of their guest, for example, things like what gets sold most, what guests demand for most, what food material get used least and results in loss and how a good hotel management software, allows hotels to do just that.
He concluded the session with a very valuable thought; he said “always remain focused in life if you want to achieve your goal.”