ABSTRACT
This chapter examines and concentrates on the role of product modification
in the hospitality industry as a tool for business development. Nowadays
many hospitality operations are facing the challenge of supply that is in
excess of demand in some market areas. Consequently, many hospitality
organisations are not adequately meeting their financial obligations because
of the supply/demand imbalance. As a result, the industry has to focus on
maximising returns from existing products rather than on developing new
facilities. Sullivan (1994) notes that hotel renovation is an ongoing process of
continuous improvement and forward thinking. Owners realise that, while
a renovation is an investment in time andmoney, it drives business to a hotel
and contributes to a property’s long-term success.
