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Agenda
9.00am Day One - Tuesday 2nd December
9.00Chairman's Introduction -
VP Profit optimization Systems, SAS Institute
9.10 - 10.30amKeynote - Presentations and Panel
Maximise Revenue, Protect Profit and Set the Right Prices in the Face of Economic Slowdown
- Hear best practices for managing revenue in a down market and avoid rate erosion over the long term
- With tighter margins and less disposable income, compiled with the strength of the euro, what else is the revenue manager to do to stimulate demand, if not to cut prices?
- What are the dangers of chasing demand by lowering your prices?
- What different revenue and pricing policies are other travel companies adopting if any during this tricky period?
- Understand how the price elasticity of your consumer might have changed and adjust your offer accordingly
- How does opaque pricing allow you to tap into the price sensitive market and generate true incremental demand? How does opaque pricing act as a segmentation vehicle?
10.30 - 11.00 Networking Coffee Break
11.00 - 11.30
The Future of Revenue Management
- Since its appearance 3 decades ago, revenue management has transformed the transportation and hospitality industries. How has revenue management (RM) evolved and what´s next for RM in the travel industry?
- Assess key future trends affecting RM in travel
- Understand how technology systems and strategic organisational change has influenced revenue management in the past and learn what the future holds
- James Bain, Head of Revenue Management, Cross Country Trains (Arriva)
11.30 - 12.30 Presentations and Panel
Develop The Revenue Management Function of the Future
- How is the function of revenue management within the organization evolving?
- What tasks will current revenue managers be doing in 5-10 years time?
- How can you steer your organization towards having a more strategic revenue management function? What are the advantages in doing so?
- What are the advantages of a localized RM team vs. a centralized one?
- To what extent should revenue managers be involved in decision making?
- Will we ever see a fully integrated RM function overseeing the marketing, sales, pricing and distribution functions of the organization? Or a Chief Revenue Management Officer?
- How can revenue managers be made more accountable for their actions? Should accountability form a key part of the strategic function of RM?
- Understand the need to measure the performance of your RM team to maximize the long-term impact of RM
- Analyse what skill set should you look for when recruiting a revenue manager of the future
- Siv Forlie, Director of Revenue Management, EMEA, Hyatt International
- Tomas Holan, Director of Revenue Management, Czech Airlines
- Chris Silcock, VP Revenue Development, Hilton International (Panel Only)
12.30 - 14.00 Networking Lunch Break
14.00 - 15.00 Presentations and Panel
Integrate Profit Optimization and RM to maximize revenue across all profit centres
Take a holistic approach to your revenue maximisation strategy and increase profits by up to 30%!
- How far away are travel companies from having a comprehensive total revenue management system?
- Understand the benefits of a total revenue management approach including revenue from ancillary products
- Take Total Revenue Management one step further and develop a profit optimization strategy
- How can you overcome the challenges to unleash the power of a coherent profit optimization strategy?
- How do you apply a centrally coordinated profit optimization strategy to numerous areas? How much will it increase profits? Should you invest in a profit optimization system?
- The cost of every sale, the same booking in different channels has different profitability. What channels deliver the best profit?
- Should you stop accepting GDS reservations because they are less profitable? Or close down 3rd party channels?
- How can you use XML across all your systems to optimize profit?
- Kate Varini,
Senior Lecturer, Tourism Technology, Revenue & Profit Management, Oxford Brookes University
- Aaron Sugarman, Head of Pricing Development, TUI UK
15.00 - 15.30 Networking Coffee Break
15.30 - 17.15 Presentations and Panel
Align Your Distribution Channels With Revenue Management
- What impact do shifts in distribution have on revenue management? Where should you focus your time and resources?
- Should your revenue management rules vary depending on your distribution channel?
- See how to measure your performance across various channels and streamline your processes to effectively implement revenue management
- How do you manage all your channels and control where they get their data from?
- Identify the marketing opportunities for each channel, like GDS ad placements and 3rd Party Enhancements, to increase your hotel´s sort order and market promotions
- Supply management - Understand how intermediaries manage supply in relation to demand
- Get a better understanding of how much each reservation costs your company, for example, GDS fees, commissions and brand reservation fees
- Favour your cheapest distribution channel - encourage direct bookings through manipulating PPC and reduce your dependency on your most costly channels
- Ingrid Johnson, Director of Revenue Management, Steigenberger Hotels & Resorts
- James Poole, Director of Global Strategy, Octopus Travel
- Wolfgang Pagl, Director of Market Management Eastern Europe, Expedia
- Serge Chamelian,
Business Development Manager, Revenue Management Unit, Amadeus
17.15 - 19.30 Networking Drinks Reception
9.30 Day Two - Wednesday 3rd December
9.30 Chairman's Introduction - VP Profit Optimization Systems, SAS Institute
9.40 - 11.15 Presentations and Panel
Actively Pursue a Consumer-Centric Revenue Management Strategy To Boost Revenue
Move beyond simply tying in CRM and RM. Build a fully consumer-centric approach to boost revenues.
- Identify distinct consumer groups and find out how to track their traits to predict future behaviour.
- Analyse the accuracy of such predictions and how to use this data to price more accurately
- Set prices according to your customers´ willingness to pay
- Examine the lifetime value of the customer and take a humanistic approach to revenue management
- Unearth the psychology of how and when different groups buy and hold out for a more profitable reservation
- Package products to create a perception of unique pricing to make customers feel valued.
- Discover how to use the latest Web 2.0 techniques to gain a greater understanding of different consumer segments
- Analyse the limitations of a consumer-centric approach to revenue management. To what extent can revenue management realistically take relationship management into account?
- What technological system developments are occurring to resolve the issue of data system integration?
- Henriette Thilert, Head of Revenue & Pricing, Aer Lingus
- Ben Vinod, SVP & Chief Scientist, Sabre
- Glenn Commerford, Head of Pricing, Airmiles
- Dan Martin, Head of Customer Insight, Airmiles
- Jason Houle, Vice President, TravelSolutions, Lixto Software
11.15 - 11.45 Networking Coffee Break
11.45 - 12.15 Case study
Spotlight on System Management
- Hear top tips for seamless RM system integration from an unbiased perspective
- What are the key considerations when choosing the right system for your company?
- Ensure the delivery and control methods that complement RM systems and processes are updated and monitored
- Frederic Pisvin, Senior Manager, Revenue Management, Spanair
12.15 - 14.00 Networking Lunch Break
Interactive 45 minute workshop led by Lixto Software starting at 13.15
Understand how to analyze data using custom enterprise-class business intelligence solutions that can be re-configured by the user to ensure that you always have the information you need for your specific operational situation. Turn insight into action using real-time price comparison, workflow and process management
- Frank Lenkmann, Sales Director Travel Central Europe, Lixto Software
14.00 - 15.00 Re-Evaluate the Role of Forecasting in Your Organisation
Accurate forecasts are crucial to a revenue management system yet forecasting for travel industry revenue management systems is inherently difficult. Competitive actions, seasonal factors, the economic environment are a few of the hurdles that must be overcome.
- In turbulent times it has never been so important to forecast accurately. However, to what extent can forecasting be relied on?
- How do you evaluate the performance of your forecasts? What is the required accuracy?
- At the risk of over-analysing and striving for perfection, how much time and resources should be allocated to forecasting?
- Have we become over-dependent on statistical models? What is the trade-off between using automated statistical tools vs. individual humanistic judgment?
- While a small data set may prevent from exploiting the seasonality phenomenon, too many periods makes the forecast unresponsive and not dynamic enough. How do you get the balance right?
- What is the impact of forecasting on other functions? Product planning, marketing and sales as well as RM?
- Economic forecasting vs. RM forecasting - how can you balance the two?
- Joerg Esser, Head of Yield Management & Business Development, Thomas Cook Nederland BV
15.00 - 16.00 Coffee Break and RM and Pricing Talkback facilitated by Steve Pinchuk
Get all your revenue management and pricing questions answered in this interactive discussion session. Go home buzzing with ideas to implement upon your return to the office!
16.00 - End of Conference
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