The first step would have been to increase the value of capital for the visitors. This would have been done by taking preventive measures in the luxurious property in terms of security against the SARS epidemic (Tsui, 2014). The government enrolled several healthcare programs that offered knowledge regarding SARS and how preventive measures could be taken. The same information with credible citations would have been used on the website for luxurious property in order to inform people of the preventive steps this property supports. The demand and supply were weak in a limited period and during this period; the loss of revenue was high. However, within several months, the demand and supply were operating as needed and rose to a much higher range (Nira and Alizia, 2012). In such circumstances, government support would have been needed in terms of reduced taxes of accommodation and the appropriate value of every hotel maintained. This would allow the tourists with a benefit of cheap prices in difficult situations. Measures would have also been needed in the domain of delivering higher value for the prices. This would have motivated the customers further. Another essential requirement would have been to involve all the major stakeholders in the process of change. The change would require restructuring the hotel as per the need in the external environment (Alexandros, 2015). The hotels senior management would have been further motivated to engage the staff in this process of change. Technology leveraging would have offered much better advantages. Only through active staff involvement will the newly undertaken technology, foster. This would help in overcoming everyday challenges. The luxurious property will be innovated to raise production. This will take into consideration not only the needs of today but also that of future. Using mobile and digitalized wallets for payment services are one such example of emerging technology (Alessandro and Lorenzo, 2014).
A separate committee would further have been set up in order to support the hotel in its difficult journey by researching and developing and uncertainties and risks ahead of the property. Innovation is the key to success in such difficult times.
As a general manager of 5-star hotel in Sydney, it is essential to recognize whether online travel agencies are a substitute or complement to the hotel.
Various studies have been conducted on the influence of the web on several travel industry players. By the end of the 1990s and the start of 21st century, it was evident that the web environment would undertake to reform various industries and travel would be the first to be impacted through this. This is due to the electronic environment suitability for essential processes within this industry. However, the hotel industry is not away from this influence (Alexandros, 2015). Across the globe, including Australia, the travel agents have added to the hotel value and its customer attraction. Australians and New Zealanders have embraced the use of the web to book their hotels and their holiday destination booking. Australians also were among the early adopters of the web for travel and holiday purposes. For hotel businesses such as ours, there are various advantages and disadvantages to using OTAs (online travel agents) for selling the facilities on rent. The disadvantages involved are (Tsui, 2014):
OTAs often charge price on each sale which ranges between gross Costs by 10-20 percent.
There are various terms and conditions restrictedly imposed through these online agents such as cancellation by guest and policies to resell room automatically when cancelled.
It is required to look for a way to manage availability of room across a wide range of Online Travel Agents, individual websites, telephonic sales as the front desk. This causes a lot of time to be consumed and also leads towards labour intensiveness. There are options to use software to help in managing such issues (Schneider, 1988).
Use of OTAs does not reduce the requirement to have individual website with an engine to search and book
It is still needed to invest in a marketing strategy that has properly balanced multiple channels
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