Demand refers to requests for a hotel's inventory and is influenced by external factors like events, economic conditions, and competitors. It is important for revenue management and can be analyzed using data on rooms occupied, cancellations, no-shows, and turned away customers from previous years. Booking pace indicates when customers make requests and varies by customer type. It relates to demand and informs key revenue management decisions like implementing restrictions if ahead of pace or offering discounts and value adds if behind pace.

1. Revenue Management … Week 4

2. 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?

3. First survey results……

11. Demand – Requests for your inventory

14. Demand – Who requests, when

15. 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

16. 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

17. Demand Patterns – Using Restrictions to change the patterns

20. Booking Pace – When is the request for inventory made… Booking window

21. Booking Pace … by customer type Group vs. business traveler

25. Booking Pace … Key RM decisions Ahead of pace …. Optimum Restrictions

27. Booking Pace … Key RM decisions Behind pace …. Alternative customer groups Discounting + Value Add

28. Next Week ….. Quiz Calculations Key Concepts

29. Online Collaboration Center www.hotelrevmax.ning.com [email_address]