Week4 Rm Cmh 3rd Year
29
Revenue Management … Week 4
-
Upload
oneglobe -
Category
Economy & Finance
-
view
1.148 -
download
1
Transcript of 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
