lO Mo A RcPS D 26 6 83 34

lO Mo A RcPS D| 26 6 83 34 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. 1 / 3

lO Mo A RcPS D| 26 6 83 34 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 2 / 3

O Mo A RcPS D| 26 68 3 34 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.

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