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
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Revenue management hoorcolleges samenvatting
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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
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