Concept:

Achievement focused and competency based learning. Individuals or teams operate as member of the hotels executive committee with a leading focus on revenue optimization. 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.
  • 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
  • Industry revenue metrics and  STR indexes
  • Financial ratios
  • Capital Investment
  • Cash Flow

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 REDGlobal

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