Summary revenue management stenden hoge hotelschool 2025

Summary revenue management stenden hoge hotelschool 2025 1 / 3

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Summary revenue management stenden hoge hotelschool 2025 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

Part 1. 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.American generational sub segments •Silver haired senior aka The silent generation -born to 1946 -survived 1 st /2 nd world war -don’t broadcast purchase intentions -expect value for their money •Baby boomers -born between 1946 – 1964

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