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CorporateRevenueManagementCorporateRevenueManagerAgendaIntroductionofRevenueManagementPricingPhilosophyforShangri-LaHotelsandResorts
RevenueManagementis…TheART
ofturningbusinessawayRevenueManagementisalso…TheSCIENCE
ofstimulatingoccupancywithoutsacrificingrateOccupancyorRate?Thatisthequestion…OccupancyA 76%B 84%C 96%ATR$200.00$180.95$158.33Revenue$34,200$34,200$34,200RoomsSold171189216
Thishotelhas225rooms.DefinitionofRevPARRev=Revenue&
PAR=PerAvailableRoomFormulasRevenue/availableroomsATR*OccupancyATR$200.00$158.33Occupancy
A76%Revenue$34,200$34,200RoomsSold171216RevPARStrategyOccupancyneededtobeincreasedby45rooms(26.32%)ATRreduced$41.67(20.84%)96%
CWhathappenedtoourprofit?RevenueManagementhistory
PricesoftheUSairlineindustrygotde-regulatedin1978
Airlinesstartedtosegmenttheircustomerbaseandtoapplydifferentpricesfordifferentsegments
Severepricewarsslashedprofitmargins
RevenueManagementwasbornWhydoesRevenueManagementwork?SegmentedMarketsPredictable,VariableDemandFixedCapacityPerishableInventoryRelativelyLowVariableCostAdefinitionofRevenueManagement
forShangri-LaHotelsandResortsRevenueManagementis:
theapplicationofrightpricingstrategies
toallocatetherightcapacity
totherightcustomer
fortherightproduct
attherighttime
throughtherightchanneltoachievemaximumrevenueForecastDemandRetainDemandManageDemandManageDemandYieldandBusinessMixStrategyDelightingourGuestsRetainDemandRepeatBusinessCreateDemandForecastDemandDemandAnalysisTheRevenueCycleOptimizeDemandDemandAnalysisCriticalprocessinordertodevelopaneffectivesales&revenuemanagementplanExternalanalysis:Understandthemarketplace–demandversussupplyBusinessindicatorsInternalanalysis:HistoricalperformanceBusinesspatternsDemandAnalysisPacepattern(Howlonginadvancearethebookingscomingin?)Sourcepattern(Arebookingscomingfromyourdomestic,intra-regionalorlong-haulmarkets?)Channelpattern(ArebookingscomingthroughtheInternet,GDS,WRCordirect?)Staypattern(Whatistheaveragelength-of-stayofthisreservationandwhenisthearrivalday?)Spendpattern(Whatistheincrementalspendfromthisreservation?)ForecastingEstimatingthecompany’sshareofmarketdemandbasedondefinedmarketsegmentsandanassumedmarketingenvironmentWhydoweforecast?StaffingSchedulingPurchasingComparisontoBudgetTooptimizeourbusinessmixToimplementaneffectiveYieldStrategy
Accurateforecastingwilleventuallyhelp:BusinessMixOptimizationNotethatsometimesyoucangeneratemorerevenuebychangingyourmixthanbyincreasingyourrate!Whatistheoptimumbusinessmixforyourproperty?BusinessMixOptimization
Source:Cathycartoonstrip.Allrightsreserved
YieldManagementTheideaistouserestrictions(MinimumLengthofStayforexample)ifdemandexceedssupplytomaximizetotalweeklyroomsrevenue.
BusinessHotelArrivalPattern
NorestrictionsRevenueGenerated:US$44,800fora100roomshotelATR:US$100OCC:64%
20grouproomsOnWedSameBusinessHotel,but
MinimumLengthofStay2nightsonWednesdayRevenueGenerated:US$46,200fora100roomshotelATR:US$100OCC:66%
20grouproomsOnWedSameBusinessHotel,but
DifferentMinimumLengthofStayrestrictionsfordifferentrateprogramsonMon,TueandWedRevenueGenerated:US$52,360fora100roomshotelADR:US$110OCC:68%
20grouproomsOnWedPricingCrucialcomponentintheRevenueManagementCycle95%flowstothebottomline
(Source:DefiningRevenueManagement–TopLinetoBottomLine)AdynamicprocessClearandsimplePricingintegrityPricingPhilosophyforShangri-LaHotelsandResorts
IntroducedinmidAugust2008forallproperties3differentpricingconcepts:SeasonalPricingTierPricingD-BAR
(DynamicBestAvailableRate)
SeasonalPricing
Introducedinresortswithdistinctiveseasonaldemandpatterns;andselectivecityhotelswhichmarketiscomparativelylessvolatileAsingleratecanbesetupperseasonwhichneedstobepre-defined(low,shoulder,high)AdditionalratetobecreatedforhighdemandSpecialEventsperiod4setsofrates(forSelect&ValueRate)areallowed TierPricing
Introducedinselectivecityhotelswhichmarketisdynamic,butnotreadytoactivateIDeaSBARModule3tiersofratescanbesetupperseasonwhichneedstobepre-defined(low,shoulder,high)AdditionalratetiertobecreatedforhighdemandSpecialEventsperiodApplicationoftheactualratetier(forSelect&ValueRate)isbasedontheforecastedoccupancyforthearrivalday TierPricing–Situation1Tier1 0-70.9%Tier2 71-89.9%Tier3 90-100%Whatif?Mon75%Tue65%Wed95%WhichtierdoyouapplyforMon3-nightrequest?TierPricing–Situation2Tier1 0-70.9%Tier2 71-89.9%Tier3 90-100%Whatif?Mon91%Tue92%Wed95%
WhichtierdoyouapplyforMon3-nightrequestifyouhave50%ofyourinventorysoldtogroupsandthemarketissoft?D-BAR
Willroll-outin10topdestinationhotelsinbatches,whichmarketishighlyvolatileUsingIDeaSV5iYieldManagementsystem,withBARModuletobeactivatedAmaximumof15ratetierscanbesetuptocoverallseasons,weekday/weekendpatterns&SpecialEventsperiodIDeaSV5iwillrecommendtheBestAvailableSelectRatebylength-of-stayperarrivalday,takenintoaccountcompetitors’rateoffer D-BAR
2optionsaregivenonmanagingValueRates:MaintainthesamenumberofValueRatetiersandSelectRatetiers e.g.SR1toSR15vsRACK1toRACK15Applynon-dynamicflexing(reducethenumberofValueRatetiers) e.g.groupSR1toSR3->VRtier1(RACK3) groupSR4toSR6->VRtier2(RACK6) groupSR7toSR9->VRtier3(RACK9)
Ultimately,15SRtiersvs5VRtiersD-BAR-Situation
IfIDeaSV5igivesthebelowBARrecommendation:Mon SR2Tue SR3Wed SR4Whatif,thehotelismanagingValueRateasfollows:SR1–SR3:RACK3SR4–SR6:RACK6SR7–SR9:RACK9SR10–SR12:RACK12SR13–SR15:RACK15WhichValueRatetierdoyouapplyonMon,Tue&Wedrespectively?HomeTakersEnsurethatbusinesspracticeisstrictlyadheredtoParticipateintheweeklyRevenueStrategyMeetingQ&AThankYou!9、春去春又回，新桃换旧符。在那桃花盛开的地方，在这醉人芬芳的季节，愿你生活像春天一样阳光，心情像桃花一样美丽，日子像桃子一样甜蜜。1月-251月-25Sunday,January26,202510、人的志向通常和他们的能力成正比例。19:19:5019:19:5019:191/26/
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