week4 rm cmh 3rd year

Revenue Management … Week 4

Today…. Demand

What is it? Why does it matter?

Where do you find the data?

Booking Pace What is it?

How does it relate to demand? Where do you find the data?

What RM decisions are made?

First survey results……

Demand – Requests for your inventory

Demand – Who requests, when

Demand – Sources Previous year history – on that DAY -Rooms occupied -Cancel -No Show -Turned Away -Bought Alternative Dates -Bought Alternative Inventory – 3rd Party

Groups Above…plus -non-confirms – competitive alternatives

Demand – External Factors

Area events – repeat + 1 time Economic Factors Out of area events Traffic changes – transport volume Destination Promotion Area Attraction – changes

Competitive Strategy

Demand Patterns – Using Restrictions to change the patterns

Booking Pace – When is the request for inventory made…

Booking window

Booking Pace … by customer type

Group vs. business traveler

Booking Pace … Key RM decisions

Ahead of pace …. Optimum Restrictions

Booking Pace … Key RM decisions

Behind pace …. Alternative customer groups Discounting + Value Add

Next Week ….. Quiz Calculations Key Concepts

Online Collaboration Center

www.hotelrevmax.ning.com

cemhi@yahoo.fr