Concept:

Achievement focused, competency based learning. Individuals or teams operate as Director of Food and Beverage for their hotel which is competing with other hotels in the competitive set for high yield events, banquets and meeting space, along with the productivity of F&B outlets. Hotels compete with each other in real time and within the realistic market dynamics of a competitive set of hotels. As in a real market, the competitive strategies and decisions of each hotel affect both its results and the results of all of the other hotels in the competitive set.  A hotel’s market share, revenue share, and financial results depend on its ability to construct, promote, and deliver a competitive price/value proposition to the market.

Process:

1. Gather information about your hotel, the competition, and the market.
2. Form a competitive and operating strategy.
3. Make decision consistent with the strategy.
4. Review results, then refine and redo steps 1-3 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.
  •  Evaluating multiple meeting and event RFP’s analytically.
  •  The financial impact of pricing decisions on monthly and annual business results.
  •  Total F&B departmental overview and revenue co-ordination.

Skills

  • Forecasting F&B Outlet and Catering revenue
  • Optimizing F&B Revenue including RFP Analytics
  • Price/value balancing
  • Displacement Analysis
  • Targeting Revenue  Priorities
  • Competitive Response
  • Cost Control
  • Variance Analysis
  • Financial Analysis
  • Reputation Management

Knowledge

  • Comprehensive view of in-house event management
  • Relationship between event management and F&B overall performance
  • Capital Investment decisions
  • Multiple RFP analysis

Analytics

  • Import STR Market Data
  • Trip Advisor Type Guest Comments
  • RFP Analysis
  • Operations financial results

Simulations is 100% customizable and can be scaled to your course goals and student levels. Choose to keep or hide any of the decisions, reports of trend lines. Add any market scenario and upload any STR data. You decide and we do the customization for you.

Decisions:

  • Events, Meeting, and outlet forecasting
  • Request for Proposal management
  • Displacement Analysis
  • F&B Costs
  • Refurbishment
  • Capital Improvements
  • Staffing
  • Salaries
  • Training
  • Sales Incentives
  • Marketing
  • Advertising
  • Promotion
  • Reports:

  • STR Operating Metrics
  • Revenue Performance
  • Perceptual Mapping
  • Business Summary
  • Balanced Scorecard
  • Revenue Variance
  • Competition
  • Reputation Management
  • Staffing
  • Staff Competence and Turnover
  • Social Media and Guest Comments
  • Trend Graphs
  •  

    Financials:  
    Departmental Income Statement

    Scalable:
    Full range of hotels configurations in facilities size and type.
    Scale to your course goals and student levels.

    Customize:
    Decisions, Reports, and financials can be selected and de-selected.
    Market demand and market contention factors are configured to suit.
    Upload actual STR market data.
    Insert targeted RFP documents for competitive bidding.

    Languages:    Available in English, German, French, Spanish, Chinese, Arabic, Russian, Ukrainian, 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 REDGlobal

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