MAN703 Revenue Management
Managing your hotel - Strategy
What should you set as an objective?
What do you know about your hotel?
What do you know about your competitor hotels?
What do you know about the general market – is there a lot of demand?
What decisions could you make that would make more guests come to your hotel and restaurants, and how can you retain them?
What do you want to achieve at the end of the contract?
Managing your Hotel – the results
1. What was supposed to happen?
2. What actually happened?
3. Why was there a difference?
4. What can you learn?
5. What will you do about it?
Respond to one of the below RFP’s. An RFP is a “Request for Proposal” where a business comes to you wanting to host an event/ book accomodation.
You need to respond to one (1) only for your hotel.
In this proposal I need to know
- What rate you are offering
- Why you are offering that rate
- What extras you may offer (these MUST be rev sim relevant)
- Any FOC rooms?
- What type of rooms will they be?
- How much it costs you to sell each room at your hotel
- How will your forecast be adjusted for this business. I.e if you get 1800 rooms from this business what will it displace.
Please present it in a formal letter format (Please send these via the communication tab in REVSIM). The hotels that will win the business will do so because of a combination of a good rate and well organised / formatted RFP with the above information in it.