DAY 1:

08.45 Introduction: The BIG Picture

• Introductions & Background
• Discussion of programme objectives
• Opening perspectives on Hotel Revenue Management and Distribution

09.30 Session 1: Performance Measurement

We use many indicators to give us performance feedback, however the interpretations of these indicators vary widely within each hotel.

• A clear and common understanding of several key ratios and indicators providing reliable performance measurement
• How should we account for Out-of-Order and Out-of-Service Rooms?
• What is the impact of complimentary rooms?
• How does your performance compare with that of the competition?

10.30 Coffee break

10.45 Performance Measurement continued

• Structured group discussion and exercises

11.30 Session 2: Business Intelligence & Data Collection

We gather lots of data - we have data on our guests, our performance, our booking pace, our promotions and packages and so on. This session attempts to assess whether you are collecting too much data and then feel compelled to analyse it simply because the information exists.

• Deciding what data to collect, how to collect it and where to collect it from
• The merits and de-merits of an overloaded database
• Pitfalls to avoid in over-analysing the data and investing on the wrong data
• Determining the accuracy of the data gathered
• Maximising the good use of key findings from data gathering platforms
• Structured group discussions and feedback

12.30 Lunch

13.30 Session 3: Rate Structures and Pricing

Similar to forecasting, pricing is not given the stature or significance that it requires. Even when we think we have developed the perfect pricing model for our hotel, it is rendered inadequate as soon as the competition changes theirs. Pricing is too often seen as irrational, and overwhelming.

• Industry best practices on pricing
• Strengthening the role of PRICE as a key determinant for all purchasing decisions
• Efficient rate structures that can improve pricing effectiveness
• Examples of rate structures that can cope with complex pricing models
• How pricing heavily influences guest attitudes and behaviours
• Breaking the barriers of scant attention on a critical element as pricing

15.00 Coffee Break

15.30 Pricing continued

• Structured group discussions and exercises

16.30 Wrap up of day one

• Q & A and conclusions

17.00 End of day one - Drinks Reception

DAY 2:

08.30 Recap of day one

09.00 Session 4: Forecasting

At the heart of any revenue management activity lies a reliable and informative forecast. No matter how much technology we have access to, or how well organised we are, forecasting remains a fundamental exercise. Forecasting is very important, but it is also a precarious and often dull area in Revenue Management.

Subsequently, it is not given the status it requires.

• Ensuring that your forecasting accuracy and frequency is better than that of the competition
• Identifying and taking advantage of the alternative methods of forecasting
• Forecasting techniques and its applications
• Structured group exercises and feedback

10.30 Coffee Break

10.45 Session 5: Yield Management Techniques

The world of Revenue Management is complex and guests are becoming more sophisticated. Routines and habits are hard to change. As such strategic and practical Yield Management techniques should be established, maintained and further developed aligning to the objectives of an overall hotel profit scheme.

• Creating a Yield Management action plan that caters to the habits and routine of an increasingly demanding market
• The common mistakes in adapting one particular RM technique based on a various market needs
• Coveted and proven techniques used in yield management to take advantage of hard to change guest habits and routines
• Structured group discussions and feedback

12.30 Lunch

13.30 Session 6: Channel management & distribution

Revenue Management is becoming ever more complex - we face constant evolution in technology, globalisation of the traveller and greater abundance of customer data.

• Insights into the rapid evolution of hotel distribution management
• Optimising new opportunities in distribution changes that impact the bottom line
• Reaching and penetrating new emerging markets in a cost-effective way
• Keeping abreast of the dynamic changes in RM perspectives
• Structured group discussions and feedback

15.00 Coffee Break

15.15 Communication: Managing the Revenue Mix with Sales & Marketing Objectives

Despite sharing common objectives, Revenue Management (RM) and Sales & Marketing (S&M) are often locked into a relationship that is tense or strained.

For many organisations, this relationship has been tolerated. Going forward we must determine how we will manage the situation as more and more change and complexity makes this arena ever more challenging.

• Analysing whether prevailing organisational structures and reporting lines have created a "relation-shift" between RM and S&M
• Turning potential conflict into healthy antagonism pushing performance to higher levels
• Ensuring that RM and S&M cooperate with mutual respect, complimentary skill sets and synergistic activities

16.30 Wrap up

• Bridging the gap between workshop classroom and hotel operations
• Integrating RM and distribution management into daily routines
• Understanding and managing the barriers to effective RM activities

17.00 End of workshop