Chapter 7, Section 2. Revenue Management Increase Revenue by: Managing the number of rooms filed Managing the number of discounts offered Booking guests.

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Presentation transcript:

Chapter 7, Section 2

Revenue Management Increase Revenue by: Managing the number of rooms filed Managing the number of discounts offered Booking guests who plan to stay longer than others.

Three Common Stay Controls Minimum stay: A minimum length of stay strategy that requires a reservation be for at least a specified number of nights to be accepted.

Three Common Stay Controls Close-to-arrival: A close-to-arrival strategy that allows reservationists to take reservations for a certain date only if the guest arrives before that date.

Three Common Stay Controls Sell-through: Like minimum stay, but the required stay can begin before the restricted date.

What are some pieces of information that might be listed on a forecast report? Today’s arrivals, today’s stayovers, and tomorrow’s arrivals The number of arrivals, departures, and occupied rooms, the percentage of occupies rooms; and the guest count every day for the next four days Confirmed reservations for the 10 days covered by the forecast Projected rates based on these reservations VIP arrivals for the next 10 days Number of complimentary rooms for the next 10 days Any other information requested.

Guest History Systems Track Guest Preferences for: Room type Location Rate Special requests

Section 7.2 Quiz 1. True/False: Central reservation systems have created standardized reservation computer systems that are used by all lodging properties. 2. True/False: Revenue management is the process of figuring out how to balance occupancy and prices to maximize revenue.

Section 7.2 Quiz 3.Room _____ helps reservationists sell the highest rates the occupancy levels will allow. 4.When a hotel has forecasted an excess demand for rooms, it might use _____ _____ to help determine which guests will bring in the most money for the hotel. 5.When used with the reservations system, a _____ _____ system can help reservationists give a personal touch for repeat guests.