Search for Profit Potential from Meetings and Events of Tehtaan Hotelli

Abstract

This thesis explores the competitive landscape of the Meetings and Events (M&E) management sector within the hospitality industry, with a particular focus on Tehtaan Hotelli. It aims to assess the hotel's current standing in M&E management, identify its strengths and areas for improvement, and benchmark these against industry standards and insights from competitors. This investigation is driven by the objective of formulating strategic recommendations that can enhance Tehtaan Hotelli’s revenue management strategies and unlock its profit potential in the M&E sector. Employing a structured methodology, the study integrates current market dynamics and trends, employing both qualitative and quantitative research methods. The benchmarking phase, aligned with the planning stage of this research, encompasses a comprehensive analysis of competitive offerings, pricing strategies, customer service practices, and innovative M&E solutions adopted by leading hotels and rural hospitality establishments. This approach allowed for a nuanced understanding of Tehtaan Hotelli's competitive position and the broader industry landscape. The findings reveal that dynamic pricing strategies, personalized service offerings, and the adoption of sustainable practices significantly contribute to enhancing a hotel's competitiveness and profitability in the M&E sector. Furthermore, the study highlights the growing importance of digitalization in the hospitality industry, which revolutionizes service delivery and guest experiences. Based on these insights, strategic recommendations are made for Tehtaan Hotelli to capitalize on its unique strengths, address its challenges, and leverage emerging industry trends for sustainable growth.