Bài thuyết trình: Hotel revenue management (Quản trị khách sạn) hướng đến trình bày các vấn đề cơ bản về peak period revenue opportunities; communication; market segmentation; opaque pricing; performance measurement. Hy vọng tài liệu là nguồn thông tin hữu ích cho quá trình học tập và nghiên cứu của các bạn.
TỔ CHỨC KHAI THÁC HÀNG KHÔNG GVHD: Nguyễn Nam Thanh Thực hiện: Nhóm HOTEL REVENUE MANAGEMENT 1/ Introduction 2/ Peak period revenue opportunities 3/ Communication 4/ Market segmentation 5/ Opaque pricing 6/ Performance measurement INTRODUCTION Veritec Lodge A hotel with 300 rooms An annual occupancy percentage of 65% Table 13.1 Impacts of increasing occupancy percentage Increase Increase Incrementa occupancy in room l revenue percentage from nights gain (%) 65% to: 65.1% 109 0.15 65.5% 548 0.75 66% 1095 1.5 Table 13.2 : Impacts of increasin occupancy percentage Annual occupancy (%) Annual revenue ($ million) Increment Annual net Increment al revenue revenue al gain in gain (%) ($000) profits (%) 65 8.90 n.a 445 n.a 65.1 8.91 0.15 456 2.5 65.5 8.97 0.77 500 12.3 66 9.03 1.5 554 24.6 How can a hotel achieve these gains? opportunity areas Improved pricing and demand management during peak demand periods Communications: among hotel staff and with prospective customers Market segmentation Opaque pricing The product can be offered to Business traverler package Frequent traveler package • Note that the potential for revenue dilution is very small. • The frequent traveler package is estimated to be dilutionary only if it atracts less than one incremental guest per night. It is also possible that the program will be financially beneficial if it induces some gue sts to “buy up.” Aimed at attracting less pri ce sensitive guests EZStay has incentivized travelers to try one of their properties rather than stay at a competitor property, but has done so in a way that minimizes the risk of revenue dilution -OPAQUE PRICING IS A WAY THAT COMPANIES SELL THEIR MERCHANDISE AT HIDDEN, LOWER PRICES - One type of price discrimination -The target product is one who will purchase a product or service primarily based on price and not based on the company’s amenities, reputation, etc… The website will reveal the name of the hotel but doesn’t allow for refunds, changes or cancellations Use these rates for dates that you not feel you will sell out, and using the opaque system, you will receive revenue for rooms that you would normally not sell Quiet periods Guests are demanding too much for what they pay, or whether resorts are raising people’s hopes Guests hopes by offering lower rates and then not delivering the desired experience Loyalty club members May not have good feedbacks Capacity control and pricing decisions are highly intertwined Consider a somewhat simplified situation where you have only one room left to sell in a hotel for an upcoming Tuesday night You receive a request for a one-night stay from someone who is willing to pay $120 for that night If you turn down the request, you believe there is a 50 percent chance that you will receive a request for a four-night stay from someone else who is willing to pay $120 per night But, if you turn down the request you believe there is a 50 percent chance that the room will go empty on Tuesday night What should you do? Does the hotel’s reservation system support what you want to do? How you demonstrate that you made the right decision? The scenario in which you refuse the one-night stay reservation request in anticipation of receiving a four-night stay request, but that demand does not materialize and you end up with an empty room In short, you may have taken the action that in the long term would maximize the hotel’s profits, but not necessarily have done so in this particular instance absolutely essential Performance measurement tools become Having suitable performance measures, quantifying the impacts of your pricing decisions and providing feedback to staff on the impacts of their pricing decisions are critical for estimating the level of success of a hotel’s pricing program and justifying investments to further enhance it As the saying goes, “you get what you measure.” Choose the wrong performance measures and your hotel is likely to be led down paths that are not as financially productive Performance measures such as occupancy and average daily rate are only part of what’s important Revenue per available room, or REVPAR, provides a way of combining both of those measures into a single performance measurement While that’s better, it’s still not enough as REVPAR also reflects the impact of factors external to price It is important to define measures that estimate the impacts of pricing decisions In some cases you can use narrowly defined performance measures, such as those that focus on spoilage levels In other cases, more elaborate methods such as the method of comparable challenges may be needed This method enables making quantitative estimates of the impacts of pricing decisions by normalizing for market conditions existing at the time of the decision By doing so, this method provides greater insight and accuracy than more standard approaches such as yearover-year comparisons or comparisons to competitive sets Conclusion As discussed in this chapter, pursuing profit maximization through enhanced pricing capabilities requires a combination of advanced pricing analytics and adopting appropriate internal business processes Although the financial benefits of improved pricing may be as great, if not greater, than those resulting from changes in operations or purchasing supplies (Marn et al., 2004), the benefits are not nearly as obvious; implementing performance metrics and establishing feedback mechanisms designed to measure, illuminate and communicate these benefits are essential to establishing an effective pricing program Otherwise, a hotel’s scarce resources of staff time, as well as money for investing in business improvements, are likely to be prioritized for other areas ... impact of the incremental revenue on the hotel? ??s profitability is much larger If the hotel? ??s profits were percent of gross revenue and if 80 percent of the incremental room revenue from selling these... their most preferred location If the hotel does have empty rooms on the soldout night, then not only did the hotel give up revenue it could have received, but the hotel also ends up falling short.. .HOTEL REVENUE MANAGEMENT 1/ Introduction 2/ Peak period revenue opportunities 3/ Communication 4/ Market segmentation 5/ Opaque