Holistic Approach To Customer Centric Revenue Management

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A presentation I made for the Pricing Strategies and Revenue Optimization Summit Middle East in Dubai (June 2011)

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Holistic Approach To Customer Centric Revenue Management

  1. 1. Holistic Approach to Customer Centric Revenue Management Xavier HALBI Head of Revenue & Strategy Hyatt Regency Dubai Hotel & Galleria
  2. 2. Product Focused ! <ul><li>What is our industry? </li></ul><ul><li>Definition of “Hospitality Industry”: </li></ul><ul><ul><li>Hospitality Industry: Hotel, motels, inns, or such businesses that provides transitional or short-term lodging, with or without food – Wikipedia </li></ul></ul><ul><li>Hospitality words disappeared from Hoteliers’ vocabulary </li></ul><ul><li>Most Hotel Chains are now publicly listed companies </li></ul><ul><li>Customer- focus has been lost </li></ul>
  3. 3. Why do customers come/back? <ul><li>Price </li></ul><ul><li>Location </li></ul><ul><li>Choice of products </li></ul><ul><li>Service </li></ul><ul><li>Recognition (loyalty Program) </li></ul><ul><li>Recognition (employees) </li></ul><ul><li>… </li></ul>
  4. 4. Focus on the Product ? <ul><li>What is our core business? </li></ul><ul><li>Definition of “Hospitality”: www.Dictionary.reference.com </li></ul><ul><ul><li>1. The friendly reception and treatment of guests or strangers </li></ul></ul><ul><ul><li>2. The quality or disposition of receiving and treating guests and strangers in a warm, friendly, generous way </li></ul></ul><ul><li>Hospitality Synonyms: www.thesaurus.com </li></ul><ul><ul><li>Amiability, cordiality, friendliness, generosity, warmth, … </li></ul></ul>
  5. 10. A pretty New … Old Definition: <ul><li>The art of receiving guests in a warm, cordial manner to make their stay as comfortable as possible </li></ul><ul><li>So… what are we selling now? </li></ul>
  6. 11. An EXPERIENCE ! ! !
  7. 12. Focus on … <ul><li>“ The End justifies the Means” </li></ul><ul><li>“ The Means justifies the End” </li></ul>Money Customers Service Staff the Process !
  8. 13. Customers <ul><li>Who are our Customers? </li></ul><ul><ul><li>Consumers </li></ul></ul><ul><ul><li>Employees </li></ul></ul><ul><ul><li>Colleagues </li></ul></ul><ul><ul><li>Owners </li></ul></ul><ul><li>Know your Customers’ Profile </li></ul>
  9. 14. Know your Customers’ Profile <ul><li>Consumers </li></ul><ul><ul><li>Booking patterns </li></ul></ul><ul><ul><li>Price sensitivity </li></ul></ul><ul><ul><li>Purpose of Visit </li></ul></ul><ul><ul><li>Consuming & Spending habits </li></ul></ul><ul><ul><li>Needs </li></ul></ul><ul><ul><li>Geography of Origin </li></ul></ul><ul><ul><li>Cultural Habits </li></ul></ul><ul><ul><li>Additional Revenue Potential Generators </li></ul></ul><ul><ul><li>… </li></ul></ul>
  10. 15. Know your Customers’ Profile <ul><li>Employees </li></ul><ul><ul><li>Cultural Habits </li></ul></ul><ul><ul><li>Individual Needs </li></ul></ul><ul><ul><li>Motivational Factors </li></ul></ul><ul><ul><li>… </li></ul></ul>
  11. 16. Know your Customers’ Profile <ul><li>Colleagues </li></ul><ul><ul><li>Character </li></ul></ul><ul><ul><li>Motivation to work </li></ul></ul><ul><ul><li>Individual Needs </li></ul></ul><ul><ul><li>Cultural habits </li></ul></ul><ul><ul><li>… </li></ul></ul>
  12. 17. Know your Customers’ Profile <ul><li>Owners </li></ul><ul><ul><li>Character </li></ul></ul><ul><ul><li>Attention Span </li></ul></ul><ul><ul><li>Focus </li></ul></ul><ul><ul><li>Cultural Habits </li></ul></ul><ul><ul><li>... </li></ul></ul>
  13. 18. … Other Customers <ul><li>Your Boss </li></ul><ul><li>Third Party Clients </li></ul><ul><li>OTA </li></ul>
  14. 19. What is Needed … <ul><li>New Culture in our business </li></ul><ul><li>… from Bottom, up to the Top </li></ul><ul><li>CRM implementation </li></ul><ul><li>Employee Satisfaction Surveys </li></ul><ul><li>360 Feedbacks </li></ul><ul><li>Reply to Guest Comments </li></ul><ul><li>Include Guest Scores into the Scorecard </li></ul>
  15. 20. In Summary <ul><li>You can replicate the Product </li></ul><ul><li>You can not replicate the Service </li></ul><ul><li>Blue Ocean Strategies are based on Process </li></ul><ul><li>The Product will take care of itself… </li></ul><ul><li>focus on the Process </li></ul>
  16. 21. Thank you Xavier HALBI Head of Revenue & Strategy Hyatt Regency Dubai Hotel & Galleria

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