Jamaica Gleaner
Published: Tuesday | February 3, 2009
Home : Business
Keeping a tight budget during a financial crisis

The Negril Escape Hotel, one of several small-scale resorts in Westmoreland. - Photo by Claudia Gardner

Maintaining a tight budget while keeping clientele numbers sufficiently high during a financial crisis is an important balancing act for hotel operators. But how are individuals who own a small hotel or villa able to keep a tight budget, and still keep their clientele numbers sufficiently high?

Camille Needham, executive director of the Jamaica Hotel and Tourist Association (JHTA), said, "First of all, you have to keep cost under control and within your budget, and if you don't satisfy your clientele, you will lose them, so you have to maintain a balance."

She also urges hotel and villa operators to conduct market research to accurately gauge consumer desire.

According to Anna-Lisa Lemonious, reservationist at the Jamaica Association of Villas and Apartments, entrepreneurs should build up cash reserves to help cushion the impact of fallout in an unfolding recession.

Business advice

Advertise the business.

Offer discount rates.

Offer complimentary services that will boost sales.

Reduce staff numbers.

Offer packages to guests.

Increase the use of Internet marketing.

Conduct research on technologies in hotel industry.

Increase efficiency and reduce cost.

Engage in energy-saving methods.

Be aware of image, reputation of surrounding community.

Have effective hiring, training policy. Right aptitude + right attitude = right workers.

sonia.mitchell@gleanerjm.com

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