What is the definition of Inventory in the hotel industry?
The number of rooms accessible for a hotel to sell or dispense across all channels is called an Inventory.
An Inventory makes it probable to administer what type of rooms and how many you make accessible to a meticulous market segment.
Sometimes, a hotel may want to make presented a definite number of rooms to a exacting market, for example: a group of business people who desire to use the hotel’s conferencing amenities over a two- or three-day stay. After making this group booking, the hotel can enter into their Inventory book the number of rooms full. Based on this information they can then regulate their prices for the enduring available rooms in the hotel, if they want to.
Most hotels contain an Inventory. In fact, not to have one is a poor business choice, as knowing room accessibility at all times can be useful when making fast decisions. When looking to get the most out of profits, having room accessibility data at your fingertips can give a hotel a viable benefit in the market.