These are all (7) lectures of Stenden Revenue Management from 2022, and I have taught major and sub-headings for easy navigation. I have indicated in a few places what will be on the exam, but that goes without saying. Above all, you need to know the calculation formulas for the exam and know all t...
Revenue management for the hospitality industry Latest Update 2024
Revenue management for the hospitality industry Latest 2024
Samenvatting Revenue management for the hospitality industry 2024
All for this textbook (8)
Written for
NHL Stenden Hogeschool (NHL)
Hoger Hotelmanagement
Revenue management hoorcolleges samenvatting
All documents for this subject (1)
Seller
Follow
Scriptiebibliotheek
Reviews received
Content preview
,Inhoud
Hoorcollege 1: Revenue management 1: the basis................................................................................3
1.1 Revenue Management.................................................................................................................3
1.2 Customer worth calculation.........................................................................................................4
Hoorcollege 2: Revenue management...................................................................................................5
2.1 Inventory management per channel & capacity management.....................................................5
2.2 New business models...................................................................................................................5
Hoorcollege 3: Revenuemanagement; forecasting and budgetting........................................................7
3.1 Types of forecasting......................................................................................................................7
3.2 What is unconstrained/constrained demand?.............................................................................7
3.3 Performance and how to improve business.................................................................................8
Hoorcollege 4: Revenuemanagement 2.................................................................................................9
4.1 Sheet.............................................................................................................................................9
4.2 Revenue management 3: forecasting and performance results.................................................11
4.3 Customer worth calculation........................................................................................................11
Hoorcollege 5: Chapters: 3, 4, 5, 8 (tentamen!!!).................................................................................12
5.1 Conditions for effective revenue management..........................................................................12
5.2 Cost based pricing VS. Value based pricing.................................................................................14
Hoorcollege 6: Distribution Management............................................................................................16
6.1 Distribution management...........................................................................................................16
6.2 G.D.S. = global distribution system.............................................................................................16
6.3 I.D.S. = internet distribution system...........................................................................................16
6.4 Revenue management in practice..............................................................................................17
6.5 Trends (tentamen!!)...................................................................................................................18
Hoorcollege 7 - Budgeting....................................................................................................................19
7.1 Strategic process revenue management....................................................................................19
7.2 Yield calendar.............................................................................................................................19
7.3 Forecasting.................................................................................................................................20
7.4 Demand forecast........................................................................................................................20
7.5 How to improve business results?..............................................................................................21
Oefenvragen tentamen (zonder antwoorden).....................................................................................21
, Hoorcollege 1: Revenue management 1: the basis
Conditions for revenue management:
- perishable products/service
- high fixed costs
- low variable costs
- limited and fixed inventory
- time criterial
- highly segmented
Selling….
At the right price:
-price elasticity: how much does price influence the demand?
-cost and value based pricing
-set various prices for various segments
-customer centric approach: place customers in the middle. Focus on their needs&wants
The right product:
-segmenting should lead to differentiating
-implementing price conditions: price fencing
-price fencing is neccessary to prevent customers from buying the cheaper product
At the right time:
-displacement analysis:
- which customer will you except when one room left? Could you have made more
revenue by accepting different guests? What is the optimal business mix?
-forecasting
-supply and demand: when do we offer what price & product?
To the right customer:
-segmenting -optimal
business mix
In the right place:
-Inventory management, PUP
1.1 Revenue Management
Questions from sheet:
1. What elements should an organisation look at to determine a price? What tools exist to
deterime a ‘right’ price?
Elements: cost/value based pricing, competition, forecasting
Tools: bench marking, swot analysis
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scriptiebibliotheek. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.48. You're not tied to anything after your purchase.
