This short course will explain the basic fundamentals of hotel's revenue management. Objectives, process and practices. You can subscribe the course at https://goo.gl/ufSuqN or visit our website www.ehotelmanagementschool.com
Front office revenue management & it’s application in the hotelMudit Grover
• Revenue management & it’s application in the hotel industry
• Revenue Management
• Revenue: Money that hotel collects from the sale of rooms or from the sales of product & services
• Revenue Management: The process of examining & factoring in consumer behavior to achieve the max. amount of profit from a perishable good.
• Revenue Manager: Individual responsible for decision making necessary to maximize the property’s long term RevPar.
• What is Revenue Management??
• It is an umbrella term for a set of strategies that enable capacity constrained service industries to realize optimum revenue from operations.
• Making the very best use of product is yield management.
• Therefore, yield management is the management in the terms of maximizing revenue generation and also called as Revenue Management or Revenue Enhancing Technique.
• “The hotel’s aim should be high profit business rather
than high volume business”.
• Objectives of Revenue Management
• Role of Revenue Manager
• Yield Management Team
• Benefits of Yield Management
• Measuring Yield
• Revenue Management Tools
• Revenue Management Software
• Software should be much faster and more accurate.
• System should be able to monitor & mange risk automatically.
• Identify the dates when demand is low/high & revenue is low/high.
• Software should be able to guide about the provision about the special events/festivals etc.
• At last a repot to be printed suggesting about the amendments in terms of rates, occupancy, revenue etc, for maximum benefit of organization.
• Conclusion
Revenue management is system that attempts to understand, anticipate and then react to consumer behavior in order to maximize profit. Therefore, a revenue manger should be able to decide a room should be sold on rack rate for a day or two would be more profitable for the same room sold at discounted rate for a longer time which is the main objective of revenue management.
Thus a yield management team should predict the demand of the rooms, allocate the right number of rooms to various market segments by using revenue management tools in order to maximize the occupancy so as
to maximize and optimize profit.
Front office revenue management & it’s application in the hotelMudit Grover
• Revenue management & it’s application in the hotel industry
• Revenue Management
• Revenue: Money that hotel collects from the sale of rooms or from the sales of product & services
• Revenue Management: The process of examining & factoring in consumer behavior to achieve the max. amount of profit from a perishable good.
• Revenue Manager: Individual responsible for decision making necessary to maximize the property’s long term RevPar.
• What is Revenue Management??
• It is an umbrella term for a set of strategies that enable capacity constrained service industries to realize optimum revenue from operations.
• Making the very best use of product is yield management.
• Therefore, yield management is the management in the terms of maximizing revenue generation and also called as Revenue Management or Revenue Enhancing Technique.
• “The hotel’s aim should be high profit business rather
than high volume business”.
• Objectives of Revenue Management
• Role of Revenue Manager
• Yield Management Team
• Benefits of Yield Management
• Measuring Yield
• Revenue Management Tools
• Revenue Management Software
• Software should be much faster and more accurate.
• System should be able to monitor & mange risk automatically.
• Identify the dates when demand is low/high & revenue is low/high.
• Software should be able to guide about the provision about the special events/festivals etc.
• At last a repot to be printed suggesting about the amendments in terms of rates, occupancy, revenue etc, for maximum benefit of organization.
• Conclusion
Revenue management is system that attempts to understand, anticipate and then react to consumer behavior in order to maximize profit. Therefore, a revenue manger should be able to decide a room should be sold on rack rate for a day or two would be more profitable for the same room sold at discounted rate for a longer time which is the main objective of revenue management.
Thus a yield management team should predict the demand of the rooms, allocate the right number of rooms to various market segments by using revenue management tools in order to maximize the occupancy so as
to maximize and optimize profit.
A PowerPoint presentation for the students of second semester in Hospitality Management colleges.
The presentation contains lot of images and graphics for ease of understanding; and text has been minimised so as to reduce the sleeping effect, which prolonged reading has on the current generation of learners.
Tutorial introduction to revenue management for hotels hospitality seminar w...TOMEU PONS
New version: https://es.slideshare.net/tomeupons/advanced-revenue-management-for-hotels-1-lisbon-2016-english
The main objective of this seminar is to understand the purpose of revenue management in both technological and commercial terms.
With this information, a hotel can evaluate, develop and optimize its pricing strategy with the goal of maximizing profits.
Revenue Management is a method of managing sales of hotel inventory by applying yield management techniques.
Basic elements of Revenue Management used to manage inventory:
Historical data – statistics, demand and trends
Forecasts
Price management tools
Overall strategy
Pricing policies
The main factors in setting prices are:
Production costs
Market
Competition
Demand
Product positioning
tutorial Introduction to Revenue Management for Hotels Hospitality seminar- what is revenue management in hotel industry course
Everything you need to know about Hospitality Revenue Management – and how to select the right solution and/or services for your organization.
Key takeaways from this Guide:
* KEY CONCEPTS
Need-to-know concepts, terminology and emerging trends
* MUST-ASK QUESTIONS
for solution providers and consultants that really matter
* BUYING CONSIDERATIONS & CHECKLISTS
Factors in the purchase decision, plus a framework
for assessing the options
* ROADMAP & RECOMMENDATIONS
Important tips for maximizing the value of your investment
Read the complete guide to know more.
Visit our website: https://rategain.com/
Front Office Sales & Marketing
Introduction to Marketing
Role of Front Office
Core Concepts of Marketing
Marketing Management Philosophies
Market Mix
Relationship between Front Office & Sales & Marketing
Market Segments
SMERF
Market Segment Strategies
Importance of Market Segments
Selling Techniques
Guest Satisfaction
a presentation to explain the term room tariff, the basis of charging tariff, factors that make the rate go up or down. Also, the importance of tariff in success of a hotel in financial terms. Revenue management introduction.
Whitepaper - Beginner's Guide to Hotel Revenue ManagementDuetto
Revenue management has become synonymous with managing rates, but it is really much more and the first step to a comprehensive revenue strategy.
If you don’t know who your customers are and when they’re coming, it’s hard to properly manage your property and set rates to maximize profits. By using basic approaches to segment, forecast and price, operators can run their hotels more efficiently and profitably.
In this whitepaper you can read how you can get started with revenue management today by taking a few simple steps.
A PowerPoint presentation for the students of second semester in Hospitality Management colleges.
The presentation contains lot of images and graphics for ease of understanding; and text has been minimised so as to reduce the sleeping effect, which prolonged reading has on the current generation of learners.
Tutorial introduction to revenue management for hotels hospitality seminar w...TOMEU PONS
New version: https://es.slideshare.net/tomeupons/advanced-revenue-management-for-hotels-1-lisbon-2016-english
The main objective of this seminar is to understand the purpose of revenue management in both technological and commercial terms.
With this information, a hotel can evaluate, develop and optimize its pricing strategy with the goal of maximizing profits.
Revenue Management is a method of managing sales of hotel inventory by applying yield management techniques.
Basic elements of Revenue Management used to manage inventory:
Historical data – statistics, demand and trends
Forecasts
Price management tools
Overall strategy
Pricing policies
The main factors in setting prices are:
Production costs
Market
Competition
Demand
Product positioning
tutorial Introduction to Revenue Management for Hotels Hospitality seminar- what is revenue management in hotel industry course
Everything you need to know about Hospitality Revenue Management – and how to select the right solution and/or services for your organization.
Key takeaways from this Guide:
* KEY CONCEPTS
Need-to-know concepts, terminology and emerging trends
* MUST-ASK QUESTIONS
for solution providers and consultants that really matter
* BUYING CONSIDERATIONS & CHECKLISTS
Factors in the purchase decision, plus a framework
for assessing the options
* ROADMAP & RECOMMENDATIONS
Important tips for maximizing the value of your investment
Read the complete guide to know more.
Visit our website: https://rategain.com/
Front Office Sales & Marketing
Introduction to Marketing
Role of Front Office
Core Concepts of Marketing
Marketing Management Philosophies
Market Mix
Relationship between Front Office & Sales & Marketing
Market Segments
SMERF
Market Segment Strategies
Importance of Market Segments
Selling Techniques
Guest Satisfaction
a presentation to explain the term room tariff, the basis of charging tariff, factors that make the rate go up or down. Also, the importance of tariff in success of a hotel in financial terms. Revenue management introduction.
Whitepaper - Beginner's Guide to Hotel Revenue ManagementDuetto
Revenue management has become synonymous with managing rates, but it is really much more and the first step to a comprehensive revenue strategy.
If you don’t know who your customers are and when they’re coming, it’s hard to properly manage your property and set rates to maximize profits. By using basic approaches to segment, forecast and price, operators can run their hotels more efficiently and profitably.
In this whitepaper you can read how you can get started with revenue management today by taking a few simple steps.
Use Revenue Management to Boost Profit at your Independent HotelDuetto
Revenue management is a critical component to running an efficient and profitable hotel today. It is especially important for independent hotels, who don't benefit from the resources and negotiating power that come with a big brand. This webinar will take you from basic practices to advanced pricing strategies that will allow you to better manage distribution complexity and drive more profitability.
WEBINAR AGENDA:
Learn the basics of revenue management
Understanding customer acquisition costs and the dynamic digital landscape
Common pricing mistakes to avoid
Use Open Pricing to better manage distribution
Automate functions with alerts and price rules
Webinar - The Science Behind Hotel Room PricingDuetto
In today’s challenging distribution environment with rising costs and complexities, there’s little room for error. If you’ve properly segmented your customers and are more accurately forecasting demand, you’re ready to take the next step with more advanced pricing strategies that will boost your bottom line.
This webinar will take you from basic strategies to advanced pricing concepts and arm you with the information you need to begin optimizing your revenue.
Rainmaker - Increase your revenue and maximize growth!sps:affinity
Rainmaker transforms uncertainty and complexity into opportunity. Our software handles complexity to deliver insights and recommendations – through intuitive interfaces and reports – that make your business more profitable. Do you run a hotel in the Middle East and want to increase your ARR, RevPar, TrevPar, and ROI? Contact us today!
https://www.udemy.com/hotel-management-food-beverage-and-general-cost-control/?couponCode=INTERNAL
In Hospitality management, F&B and other general Cost are second largest cost in hospitality apart from labour cost.
in this hotel management cost control course you will learn the fundamental processes by which these cost can be controlled.
we will learn various
- PAR Setting process for general inventory
- How to Calculate kitchen food orders
- Butcher Test / Yield Tests
- Bar Spot Checks
- Various other control aspects related to hotel cost controls
This Course is designed for hotel cost controllers, finance staff, department heads to be able to understand how cost for hotels are managed.
This short hotel management course will equip you with necessary skills to anlayse F&B revenue, F&B Cost and maximise restaurant profitability. Students can subscribe to the full video course at https://goo.gl/d9Ynzh.
Visit our website at www.ehotelmanagementschoool.com for more details
Hotel Management course - Profit & Loss Statement roomsManish Gupta
This online course hosted on UDEMY - https://goo.gl/B3vHfb, will bring you the necessary skills in hotel management to be able to understand and analyse rooms division profit & loss statement. You an visit our website www.ehotelmanagementschool.com for more details on courses offered on various topics
Hospitality operation & financial budgetingManish Gupta
This presentation course is about learning how to do budget & forecast the hotels business. You can access the video course at https://goo.gl/ZcNm6g hosted on UDEMY
how to read & analyse hotel income statementManish Gupta
Full Course Link - https://www.udemy.com/hotel-management-overall-financial-performance-analysis/?couponCode=2018LAST
This presentation course will give you all fundamental learning about analysing hotel income statements. We will learn standard hotel financial statements templates as well as various steps used how to analyse financial statements. You can subscribe to my course at
Hotel Management - Understand Financial Statements and Analyse to gain useful...Manish Gupta
For personalized learning, practical assignments and one to one mentorship, you may subscribe to my online course on How to Analyse hotel financial statements. As a channel subscriber you will be 80% discount on full price. Click on link below
https://www.udemy.com/hotel-management/?couponCode=YOUTUBE
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This video series is dedicated to teach fundamentals of hotel operations and management. We will be releasing regular videos on learning and practical skills for understanding hotel operations, finance and management.
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This ebook is all about data analysis, what are the steps involved in data analysis and what are the techniques. We will bring out a detailed course very soon. pls register https://excelfinanceacademy.zenler.com/ to save over 80% cost
Hello, this slide will take you through the essentials of financial report, Fundamental concepts of Balance Sheet, Profit & Loss, Cash Flow, Ratio Analysis etc. For a detailed course please visit https://excelfinanceacademy.zenler.com/
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
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Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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3. SALES & MARKETING
ORGANISATION
Execution
Direction & Strategy
Responsible for
Strategy / Positioning
Director of Sales
& Marketing
Director of Sales
Digital
Marketing &
Communication
Revenue
Management
Distribution
Management
Reservations
Events
Management
6. REVENUE MANAGEMENT
•achievement of an optimal level of the hotel’s net revenues and gross
operating profit
•by offering the right product
•to the right customers (Market Segment)
•via the right distribution channel
•at the right time (coming from Booking Pattern)
•at the right price with
•the right communication Distribution Channel.
The constellation
of tools and
actions dedicated
toward the
8. REVENUE MANAGEMENT-PREMISES
Perishable
Product
01
High Fixed Cost
and Low
Variable Cost
02
Seasonal
Demand
03
Assumptions in
Revenue
Management
•Possibility to forecast
demand
•Possibility of
segmenting revenue
•Price elasticity for
each segment
04
9. COMMON
REVENUE
MANAGEME
NT
DECISIONS
Accept Group
Business or other
bookings?
Open / Close booking
from certain
channels?
When to start
promoting to various
channels
Should impose
minimum length of
stay?
How much business
we can realistically
get to manage costs
Should we take
overbookings?
Should we accept
displacements?
What can we package
together?
What kind of
concessions we can
agree for groups or
events
10. REVENUE MANAGEMENT – TERMS
& METRICES
Room Nights
Price, Average
Realised Rate (ARR)
also called as ADR
Length of Stay
Revenue per
available room (Rev
PAR)
Total Revenue Per
Available Room
(Total Rev Par)
Total Revenue per
occupied room
(Folio Revenue)
Gross Operating
Profit (GOP)
(GOP per available
room) GOP PAR
Yield (RevPAR /
Rack Rate) – Shows
efficiency of hotel
11. REVENUE MANAGEMENT – TERMS
& METRICES
Covers Average Check
Revenue per
available seat hours
Revenue per square
meter hour (for
function rooms)
Capture Ratio from
Inhouse Guests
Average spending for
Spa / Gift Shop etc
12. STEPS IN
REVENUE
MANAGEME
NT
Pricing & Yeilding
•Pricing, Inventory, Distribution Management
Know you competition
•How are we different from competitors
Understand Demand Generators
Define right segmentation
•Understand Market Mix
Positioning & Strategy
•Formulate Strategy
13. SEGMENTIN
G - WHY
Price Differentiation
•Willingness to pay
•Value perception &
Buying Power
Service offering
differentiation
•Different Expectations
•Different Characteristics
Marketing and
distribution
Management
Information System
to track and
understand business
profitability
14. Standard Segmentations
Prescribed by USALITransient Rooms Revenue
FIT Room Revenue
Discount – Packages /Advance Purchase or
with other sort of discount based on rules.
Qualified – Special rates depending on
meeting some criteria such as government
employee
Wholesale an be offline or online
Groups Room Rev (Min 10 Rooms)
SMERF – Social, Military, education, religion,
fraternity
Contract Room Revenue / Permanent Room
Revenue - (More than 30 days in one
contract)
15. PROFILING
FOR EACH
SEGMENTATIO
NProfiling & Segmentation is
important to understand
• When to Market
• Price Points
• What services and amenities
are expected by guests
• An Example of
profiling===
16. BALANCING THE SEGMENTATION
Groups
/Business
FIT’s
/Leisure
Low Rates High Volume
Less usage of other service offerings
Ideal during low season for FITs
Unpredictable
High spenders,
however need higher
attention
Highest profitable due
to low cost of
operation
17. DEMA
NDConstrainedDemand
Limited by the number of roomsin
your hotel , Max is no of rooms
available
UnconstrainedDemand
Isnot limited by the numberof
rooms in your hotel
19. FORECASTI
NG
DEMAND
Forecasting
demand based on
•historical factors
•Seasonality
•Upcoming Events in city
•External factors such as
political or economical
Keep an eye of Pace
of bookings for
next 3-6 months
and participate in
sales strategies to
keep the pace
Find new feeder
markets based on
trends
22. SWOT
ANALYSISSWOTAnalysis
While conducting aSWOTanalysis
Analyze the internal & external
factors that affect hotel’s goalof
maximizing revenue
Develop strategies that will
improve your hotel’s
competitive position
Favorable Unfavorable
Strengths
Attributes thatare
helpful
Eg.Meeting roomhas
recently been
refurbished
Opportunities
External condition
helpful
Eg.Anew corporate is
moving office closeto
your hotel
Weakness
Attributes that arenot
helpful
Eg.Reputation scores
are low and staff lack
in skill
Threats
External conditions can
damagegoals
Eg.Compoffering
lower rate butoffering
higher perceivedvalue
InternalExternal
27. RESTRICTIONS –
YIELD TACTICSYield Tacticsare not communicated to the customers.
Thegoal is to sell rooms to customers who meetyour hotels needs
not necessarily the other way round
28. PRICING
DANGERSThere are two types ofpricing
dangers
Cannibalization
Dilution
Cannibalizationoccurs when a
new product or marketing
program literally “Eats Into”
existing products
Dilution canoccur if customers
consistently find onlydiscounted
rates available for yourhotel
Cannibalization shifts existing
customers to anew, lower
priced product
Dilution reduces pricing on
an already successful
product
Avoid Pricing dangers by effectively
using fences and yield tactics
29. DISTRIBUTI
ON &
CHANNELS
MANAGEME
NT
Online through
own website
Online Travel
Agents
Offline Travel
Agents and tour
operators
Global
Distribution
systems
Corporates
Direct Enquiries
Sales Offices &
Call centers
Brokers
Loyalty
Programs
31. REPORTS REQUIREMENTS (BY DISTRIBUTION
CHANNEL/ROOM TYPE/SEGMENT)
Number of bookings
for a particular date)
Number of bookings
at a particular date
Length-of-stay Prices Lead period
Number of
cancellations of
confirmed bookings
Number of booking
requests for a
particular date
Number of rooms
per booking
No-shows, walk-ins
and denials
Consumption of
additional services
Repeat visits by
customers
Demographic
characteristics of
guests.
Variable costs per
overnight/
roomnight
Website analytics
37. MAIN
QUESTIONS
TO BE
ANSWERED
FROM
ANALYSIS
What nationalities stays
in your hotel compared
to compset
What is your price quality
index
What days of week is
your hotel strong / week
compared to compset.
What is your Revpar
index compared to
compset (are you getting
your fair share)
What is the Booking Pace
for each segment to be
able to design
promotions
Which segment is
spending most or taking
other services in hotel
What promotions are
working
38. RM CHALLENGES
Authenticity of data
Timely
implementation
System limitations to
implement strategies
Slow tech
advancement in
hotel websites Vs
OTAs
Historical data less
and less relevant due
to every changing
market dynamics
Finding Right Talent
