Revenue Management eLearning Module One - Introduction of Revenue Management
Selling the right location to the right customer at the right price at the right time through the right channel
Selling the right room to the right customer at the right price at the right time through the right channel
Selling the right room to the right customer at the right price at the right season through the right channel
Selling the right room to the right family at the right price at the right time
Perishable inventory
Advance reservations
High variable cost, low fixed cost
Fixed capacity
Customers
Duration
Demand
Product
Create demand
Maximize revenue
Excel service experience
All of the above
Duration and Price
Location and Price
Duration and Customers
Time and Customers
Reduce arrival uncertainty
Reduce length-of-stay uncertainty
Reduce time between customers
Reduce variable cost
No-show
Credit card
Customers
Time
Maximize profit
Focusing the cost
Function space
Impact on customer satisfaction
Quadrant 1
Quadrant 2
Quadrant 3
Quadrant 4
Spa
Function Space
Golf Course
Restaurants
All of the above