For a hospitality business, it can be difficult to ensure that you are pricing your services in a fair way. You do much more than a regular restaurant, but you want to make sure your prices are competitive! You own a hospitality business, which can range from a full-blown hotel to a humble and quaint bed and breakfast. You do the laundry for your guests, you cook breakfast every day, you open your home to a variety of people and your bed and breakfast is in a great location! So are you charging enough for your services? Yes, the impulse is to try to push your prices as far down as possible to attract new guests, but you have to be fair to your quality and try to make a profit. Putting an accurate value on your hospitality can be difficult because you have to quantify and codify all of your services, but it will be worth it in the long run when you don’t’ short-change your business! If you are an owner of a hospitality business, read this article today!
Read the full article here: How to Value Your Hospitality Business Correctly