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 a process of continuous improvement and forward thinking. Owners realise that although a renovation is an investment in time and money, it also contributes to a property’s long-term success.
