Samenvatting HST 4-11 Introduction to Revenue Management for the Hospitality Industry Tranter

Dit is een samenvatting van de hoofdstukken 4 -11 belangrijk voor het tentamen van Stenden Hospitality Industry. Geschreven in december 2020. Hoofdstukken 1-3 zijn voor inleiding en zijn minder belangrijk. Deze samenvatting is geschreven tijdens de colleges en hetgeen de docent heeft aangegeven dat belangrijk was. In het Engels.

Preview samenvatting (3 van de 19 pagina's)

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Samenvatting
Introduction to Revenue Management for the
Hospitality Industry
Hoofdstukken 4-11 (belangrijk voor tentamen)
 Kimberly Tranter / 9781292027159 / november 2013
 Taal: Engels /
 Pag: 19
 Woorden: 3938
 Leestijd: 40 min.
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Inhoud
Chapter 4. Market segmentation and selection ...................................................................... 3
Chapter 5. Internal assessment and competitive analysis ...................................................... 5
Chapter 6. Economic principles and demand forecasting ...................................................... 7
Chapter 7. Reservations & channels of distribution.............................................................. 10
Chapter 8. Dynamic Value-bases pricing ............................................................................. 14
Chapter 9. Channel & Inventory management ..................................................................... 17
Chapter 10 The Revenue Management Team ..................................................................... 18
Chapter 11. Strategic management & following RevMAP .................................................... 18
OMoARcPSD| 2668334
Introduction to Revenue Management for the Hospitality Industry
Important calculations

 Actual revenue: rooms sold x actual room price
 Maximum revenue: rooms available x highest published price
 Occupancy: rooms sold / rooms available x 100
 RevPar: actual revenue / rooms available
 RevPor: actual revenue / rooms sold
 Yield: actual revenue / maximum revenue x 100
 Fair share: max. revenue own hotel / max revenue market x 100
 Actual share: actual revenue own hotel / actual revenue market share x 100
Chapter 4. Market segmentation and selection
• Market segmentation: dividing a market into smaller specific segments, sharing the same
characteristics.
• Demography: study of characteristics of a population. (Age, gender, education, income,
religion, nationality etc).
• Frequent traveller programme: to reward loyal patronage and encourage repeat business.
Transient: temporary individual hospitality customer
- alone and purchasing a product for a short time
Group business: more than 2 individuals coming together for a common reason (football
team flying together etc).
• Sub segments:
Leisure
- Vacation
- VFR (visit friends & relatives)
- special events (weddings)
Business
- Job responsibility
- Attending trainings
- Conferences with co workers
(corporate, government, associates) See
page 44 for more information
• Wholesaler: a person who purchases individual travel components at a discount, based on
volume and repackages the components and sells them to a consumer on retail basis, either
directly through the wholesaler organization or via a travel agent/ tour operator.
• Free sell: rooms considered to be sold, based upon space
• Wash factor: predetermined percentage of usage based upon historical data and experience.
• Environmental scanning: constantly monitoring and assessing the environment to spot
changes and emerging trends.