Concept:

Achievement focused and competency based learning. Individuals or teams operate as Asset Managers of a full service hotel property owned by a publicly-traded real estate investment trust. As Asset Managers, they are responsible for directing the investment, operational price/value/costs, legal, and third-party management contract aspects, in ways that produce sustainable returns on investment and increased property value. They must carry out their responsibilities within real-to-life market conditions and competition. Every strategy and decision they undertake not only affects their property but impacts all of the competing hotels in the competitive set.

Process:

  1. Gather information about your hotel, the competition, and the market.
  2. Understand the legal, real estate, and contract parameters of the property.
  3. Form competitive, operating, and investment strategies.
  4. Make decisions consistent with the strategies.
  5. Review results, then refine and redo for the next month of competition.

Learning:

Mindset

  • Strategic thinking, planning, and competitive sense in a dynamic market place with high financial  potential  and  yet  perishable products.
  • Constructing a cost effective and competitive product which offers both market value and sound levels of financial returns.
  • The financial impact of daily decisions on monthly and annual business results.
  • Total hotel overview and how departments interrelate to produce business results.
  • Distribution strategy and Channel Management
  • Strategic and Tactical Optimization

Skills

  • Forecasting Rooms Gross and Net Rate
  • Channel Management
  • Budgeting
  • Optimizing Revenue
  • Targeting Revenue  Priorities
  • Managing Revenue Priorities
  • Competitive Response
  • Variance analysis
  • Financial Analysis
  • Displacement Analysis
  • Request for Proposals
  • Internal Measurement Metrics
  • External Measurement Metrics
  • Analytic pricing
  • Reputation Management

Knowledge

  • Financial Statements
  • Ratios and Metrics
  • Capital Investment
  • Cash Flow
  • Real Estate
  • Third Party Contracts
  • Financial Analysis
  • Benchmarking
  • STR metrics and indexes
  • Social Media impact

ANALYTICS

  • Import STR Market Data
  • Trip Advisor Type Guest Comments

 

All hotel and market information can be easily customized to your learning and choice of market place.

Decisions:

Rooms Forecasting
Channel Management
Room Pricing – Gross & Net
F&B Outlet Pricing
F&B Costs
Refurbishment
Capital Improvements
Staffing
Salaries
Training
Marketing
Advertising
Promotion
Request for Proposal
Displacement Analysis

Reports:

Revenue Performance
Segment Contribution
Channel Contribution
Perceptual Mapping: Rooms, F&B,  Facilities
Business Summary
Balanced Scorecard
Revenue Variance
Financial Ratios
Rooms Market Segment Share
Food & Beverage
Other Departments
Rentals & Other Income
Competition
Reputation Management
Staffing
Staff Competence and Turnover
Guest Comments
Trend Graphs

 

Financials:  
Summary Income Statement
Departmental Income Statement
Balance Sheet
Cash Flow Statement
Replacement Reserve

Scalable:
Full range of hotel configurations from Luxury to select service.
Gear configuration challenge for any level from student to experienced professional.

Customize:
Use your own course or company parameters.
Decisions, Reports, and financials can be selected and de-selected.
Market demand and market contention factors are configured to suit.

Languages:    Available in English, German, French, Spanish, Chinese, Arabic, Russian, Ukrainian, Arabic, and Portuguese. Other languages available upon request.

Browser Based:  No need for software installation or IT assistance
                


Compatible:       Works with all major browsers and operating systems.

Competitive:     Individuals or teams compete against each other for real results without any artificial intelligence.

Intuitive:           Clear and easy to navigate screens.

Embedded Guides:   On page pop-up help screens.

Service:             Full instructor training and award winning support included.

Contact us for a live online test drive and immediate cost quote.

Contact REDGlobal

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