Procedure of Foreign Currency Exchange–
- The guest contacts to the Front desk cashier for Foreigne exchange.
- The Cashier requests the guest to procedure his Passport.
- The Cashier checks the exchange rate from RBI.
- The Cashier prepares the Currency exchange Certificate. The Cashier fills the details.
The above mentioned procedure is followed by Hotels with Licence for purchasing Foreigne Currency. In case the Hotel also has the Lisence to sell Foreigne Currency. The Cashier returns the balance amount in the Foreigne Currency.
What is Yield Management?
The Concept of Yield Management was introduced by the Airline industry. Yield is the revenue generated per statisfical unit. The Airlines operators realized that their product was highly perishable as a seat left unoccupied in a flight results in a loss of revenue of that seat forever. But when the supply exceeded demund, the Airlines offered various types of discounts and package plans. This way of maximizing revenue generation is termed as Yield Management.
Thus, Yield Management or Revenue Management is the process of understanding , anticipating and influencing consumer behaviour in order to maximize revenue. This process can result in price discrimination. Airlines charge different airfares from travellers who are travelling in the same class of the same flight. And it’s depending upon the number of days in advance the tickets purchased much easier then the date of travel are less expensive then bookings made a little in advance.
WHAT IS VISA ?
Foreigne nationals visiting India are required to possess a valid Passport and a valid Indian visa. Visa is an endorsement on the Passport, allowing the holder to enter the territory of the issuing country. It is a document or more frequently, a stamp in a Passport, authorizing the bearer to visit a Country for specific purposes and for the nature of visit, the following types of VISA may be issued :-
- PERMANENT VISA :- It authorised the holder of the Visa to settle permanently in the Country, issuing the VISA. This types of VISA is rarely issued by Countries and there are some Countries.
- TEMPORARY VISA :- This type of VISA is issued for a specific duration only. The person holding such a VISA will have to return back to the home country after the expiry of the term of the VISA.
Temporary VISA is the following types :-
- TOURIST VISA :- Issued for a limited period for leisure travel only, no business activities allowed.
- STUDENT VISA :- Issued to Students who have go addmission in universities located in the issuing Country.
- BUSINESS VISA :- Issued to Students who have got addmission in universities located in the issuing Country. BUSINESS VISA :- Issued for business related activities, but precludes permanent employment.
- WORK VISA :- Issued for aproved employment in the Hotel Country.
- TRANSIT VISA :- Issued for passing through the countries that fall en route the final destination, valid for 15 days or less.