Demand management: Breaking down today’s commercial silos
The biggest challenge facing the hospitality industry over the next 5 years is the lack of integration between the key commercial disciplines of sales, revenue, distribution and finance and the negative impact this will continue to have on delivering asset value and maximum profitability.
This course, spread over 4 key modules:
aims to break down these commercial silos and reveal the journey from long-term asset development through to short-term profit tactics and how commercial teams can align themselves throughout the organisation.
Created by SnapShot, this course is hosted by a group of experienced Industry guest lecturers in their fields of expertise and includes an ideal mix of accessible theory and practical exercises and simulations.
SnapShot is a Hotel Demand Management company that specializes in helping hotels aggregate and use their data. We provide useful tools as well as innovative education and coaching services to empower hotels to take informed decisions in managing their demand to increase profits.
-After a short introduction and definition of asset management, this module will explore the relationship between what we call the "Asset management triangle" actors. We will then walk through the different milestones of a hotel project, from start to finish, from initial plan to exit.
-In this module, you will understand what demand generation means, and explore the key factors that ensure that you can achieve your goals in terms of the hotel's positioning in the market place, the profitability of the operation and its long term valuation.
-Marketing is about making something known, desired and bought by the right public. While this hasn't changed, the means to achieve it has changed exponentially over the last two decades. As the customer searches for and finds your hotel, you will have to deal with the costs of distribution and how to sell through the most profitable channels to keep a healthy bottom line, while ensuring adequate visibility and top line.
-In this module, we will look at what problems Revenue Management was invented to help hotels and other similar business overcome. Then we will go through each of the critical six steps of the Revenue Management Cycle answering such questions along the way as: Where do I get the data I need from? What do I do with the data once I have it? How can I predict what is going to happen in the future? What kind of forecasting method can I use? What decisions do I need to make to get the most revenue and profit?