Concept:

Achievement focused and competency based learning. Individuals or teams operate as member of the hotels revenue management office with a leading focus on revenue optimization through pricing strategies. 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 pricing in a dynamic market place based on price/value positioning.
  •  Constructing a cost effective and competitive product which supports incremental pricing and improved REVPar
  •  The financial impact of pricing decisions on monthly and annual business results.

Skills

  • Forecasting Rooms
  • Optimizing REVPar
  • Targeting Revenue  Priorities
  • Managing Revenue Priorities
  • Competition Analysis
  • Competitive Pricing Response

Knowledge

  • Profit and Loss Statement
  • Industry revenue metrics and  STR indexes
  • Capital Investment impact
  • Incremental revenue

STR Market Data

  • Custom documents: WORD, EXCEL, photos, graphics, video
  • Guest responses

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

Decisions:

Pricing Strategy
Channel Management
Room Pricing
Capital Improvements
Segment Marketing & Advertising

Reports:

Market share Performance
Segment Performance
Market Intelligence
Trend Graphs

 

Financials:  
Summary Income Statement

Scalable:
Adjustable hotel size and facilities.

Customize:
Use your own course or company parameters.
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 REDGlobal

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