Tutorial introduction to revenue management for hotels hospitality seminar what is revenue management in hotel industry course

Introduction to
Hotel Revenue
Management

Earn More
by Selling the Same

Presented by Tomeu Pons
7 May 2013 | Miami Beach, FL

Introduction to Revenue Management
Presentation

The main objective of this seminar is to understand the purpose
of revenue management in both technological and commercial
terms.

With this information, a hotel can evaluate, develop and optimize
its pricing strategy with the goal of maximizing profits.

Hotel Revenue Management Seminar – Miami Beach, FL - 7 May 2013 Presented by: Tomeu Pons tomeupons@gmail.com @tomeu_pons 2

Presentation

Professor: Tomeu Pons tomeupons@gmail.com

Collaborating Professor – Turisme Sant Ignasi TSI, Fundación ESADE
Fundació
Tourism Education Manager – Cibernarium, Barcelona Activa
Collaborating Professor – University of Barcelona

E-
Educated in Hospitality, Marketing, E-commerce and IT Systems in
Hotelerí
Escola Hotelería UIB, ESADE, La Salle URL and UPC

Chief Operating Office – Flamingo Hotelier

Previously, Consultant ,Director of Marketing and CEO in companies
companies
such as The Perfect Hotels, Sercotel, Hotusa and SAP


Agenda

• Definition
• Price
• Effects on a hotel
• Distribution: direct and indirect
• When it is used
• Factors
• Tactics
• Calculating prices
• Reporting, statistics and tools
• Exercises
• Glossary
• Exam
• Notes


Definition

Revenue Management is a commercial management technique
that helps us to sell the right product at the right moment at the
right price to the right client.

Wikipedia: http://en.wikipedia.org/wiki/Revenue_management


Why use RM?

Revenue Management is a strategy we can use in response to:

• Increased competition
• Increase in channels of distribution
• Transparency in prices
• Increase in special promotions and discounts
• Decrease in expected response time to clients
• 80% of sales are influenced by online channels


Definition

Revenue Management is a method of managing sales of hotel
inventory by applying yield management techniques

Revenue Management:
Commercial management technique that helps us sell the right
product at the right moment at the right price to the right client

Yield:
The techniques, formulas and strategies hotels use to manage
inventory, price and sales policies to maximize revenue
generated from the sale of this inventory


Basic Elements of Revenue Management

Basic elements of Revenue Management used to manage inventory:

• Historical data – statistics, demand and trends
• Forecasts
• Price management tools
• Overall strategy
• Pricing policies

With the above, we can address:

• Fixed and perishable inventory
• Anticipated sales
• Customer segmentation


Improve RevPAR and GopPAR

RevPAR
RevPAR
GopPAR
GopPAR

Increase
Increase
Increase
Increase your
your
occupancy
occupancy Rooms
Rooms
ADR
ADR

Maximize
Maximize
Revenue
Revenue
and profit
and profit


Desired equilibrium in response to a changing market

Sell at Sell at
high prices low prices


The Customer

The customer is the most important factor in determining price.

Each client is different and has their own motivation:

• Different motives
• Different expectations
• Willing to pay different prices
• Interested in different products

To understand this environment we must ‘segment’ the market,
and for each of these segments we must adapt:

• Interested in different products
• Pricing
• Reservation terms
• Marketing along the path-to-purchase


The Product

The product is another of the key factors.

What is it about our product that drives sales?
• Hotel
• Destination
• Experience
• Rooms
• Services

Once we determine this, we can effectively develop our product:

Create additional room types?
Create a range of price points?


The Price

Although the price seems to be a lever we control, this is
completely false:

- Price is determined by demand
- Prices rise and prices fall
- High seasons and low seasons
- Years with low/no demand
- Channels with low/no demand
- Competition, local and international affects demand

However, there are techniques and factors that enable us to
increase prices.


The Moment of the Reservation

The moment of reservation is a key element in the management
of prices and quite often it isn’t take seriously enough

It’s an important moment for the customer just as much as it is
an important moment for the hotel. Both must work together in
the same way.

Many techniques exist for both players.
Forecasts based on historical data help us a great deal.



How it was born …


Where it was born, how and what need it met…


Where it was born, how and what need to it meet

These sales techniques were developed during the middle of the
20th century by American companies.

Once their information systems were computerized, they were
able to apply these methods effectively.

Companies could sell airplane tickets at different prices. They
realized that different clients, at different times, with different
motivations, were willing to pay different prices.

To be able to ‘predict’ how much clients were willing to pay for a
ticket, they developed ‘Yield’ techniques that allowed them to
fixed these prices. It was important for them to computerize and
collect information about supply and demand.


An example


Variability of industry pricing


Evolution of Tourism Pricing Management

History of Pricing

The total acceptance and integration of the Internet as a major
sales channel changed the way hotels price their inventory:

2003 – Some Majors changed to dynamic pricing
2004 – Fixed Consortia pricing disappeared
2005 – Decrease number of Categories and continued change to
dynamic pricing
2006 – Some corporate accounts are already dynamic
2007 – BAR is implemented completely


Definition

Pricing

Techniques to determine prices are developed in the heart of
each company. Setting prices can vary depending on the strategy
of the company.

The main factors in setting prices are:

• Production costs
• Market
• Competition
• Demand
• Product positioning


Pricing

Where do prices come from?
What are customers willing to pay?

$

$

$

$


Pricing

Techniques to set the prices of a good or a service…

Setting of prices can focus on anything from cost of production to
consumer demand.

From the point-of-view of marketing, an ‘efficient price’ is a price
that is close to the maximum price a consumer is willing to pay.

In economic terms, it is a price that transfers the most value
obtained by the consumer to the producer.


Pricing – Where do prices come from?

In the mind of the consumer, they are comparing different
options (substitute products), taking into consideration their
budget and the benefits of the purchase (e.g. pleasure).

This determines, in their minds, the right price they’d pay.

For a company to increase profitability from sales, they must
know in each moment what is the approximate maximum price a
customer is willing to pay for the product or service.

To increase the consumers’ perceived value of our products and
services, we must take in to account factors such as product,
price, distribution and promotions.


Pricing – An Efficient Price

The efficient price is the maximum consumers are willing to
pay. Prices are influenced by multiple factors…

But they are only perceived as ‘the right price for me or not’



Now that we understand that prices are factors affected by
Now that we understand that prices are factors affected by
multiple variables and are only perceived as
multiple variables and are only perceived as
‘the right price for me or not’
‘the right price for me or not’

We know we need to work with prices, adjust them and take
We know we need to work with prices, adjust them and take
advantage of them so they are perceived as ‘the right price for me’
advantage of them so they are perceived as ‘the right price for me’


How prices were set and how prices are currently set

Without Yield – Prices based upon cost

Cost of Desired
Cost of Production
Distribution Profit

$$ $$$ $$$$$ $$$$$

With Yield – Prices based upon demand

Cost of Desired YIELD
Cost of Production
Distribution Profit Pr

$$ $$$ $$$$$ $$$$$$ $$$$$$$$$$$$$$$$$$$$


Real impact on hotels

A hotel has 200 rooms…

If they apply RM for each of their rooms and each room
achieves an increase of €2, the impact on final results is
significant.

200 rooms x 2$ = 400$/day x 365 days = 146.000$
200 rooms x 3$ = 600$/day x 365 days = 219.000$
200 rooms x 5$ = 1000$/day x 365 days = 365.000$



1 Hotel x 100 rooms x 365 days =
36,500 rooms x 1/3 = 12,166 rooms

12,166 x 3 $ = 36,498 $
12,166 x 6 $ = 72,996 $
12,166 x 9 $ = 109,494 $

TOTAL ANNUAL INCREASE = 218,988 $



Pricing Mix

Price
Nº of Rooms



How clients agree to prices…


Consumer Behavior

Hotel Revenue Management Seminar – Miami Beach, FL 7 May 2013 Presented by: Tomeu Pons tomeupons@gmail.com 32

Fixed Pricing (static)


Booking Engine


Dynamic Pricing – Actions


Distribution – Direct or Indirect


Maintaining Indirect Distribution


Billboard Effect

Hotel Revenue Management Seminar – Miami Beach, FL 7 May 2013 Presented by: Tomeu Pons tomeupons@gmail.com 38


Implementation


Definitions

Revenue Manager:

Revenue Management:

Yield Management:


Corporate Policy


When is it appropriate to apply ‘Yield’

To implement RM we need:

• Fixed production of stock/products
• Perishable product
• Clear policy on dynamic pricing
• Ability to update prices quickly
• Reservations/sales occur within a time period
• Ability to segment the market or groups of customers

To manage RM actions, the involvment of Management, Sales and Reservations
is required. Their must be a unified vision and mission, and agreed objectives.

It’s necessary to collect information about demand: price paid, reservation dates,
dates of consumption, quantity of demand, events in the destination or origen
location, competitors’ prices, distributors…


Main techniques

The main RM tools:

• Availability management
• Categories
• Groups
• Auto-Allotment
• CTA, Close-to-Arrival
• MinLOS & MaxLOS
• Upselling
• Overbooking


How we set prices

The key point is to have the ‘right price’.

To determine the right price we take in to account:

• Value of our product
• Customers’ perceived value
• Positioning
• Competition


Management of Availability

The correct management of availability is one of the most
important points of good RM

Factors that affect availability include:

• Rates
• Reservations not guaranteed
• Pre-payments
• Categories
• Groups
• Overbooking
• Waiting lists
• Peaks and valleys in planning


Types of Rates

All hotels offer a variety of rate types. The trend is to simplify
them into ‘rate periods’ and apply to BAR ‘discount periods’.

With the current system we lose competitivity and have to work
more hours to organize our work.

Rate types:

• Published rates on hotel website, Booking…
• Negotiated ECI, companies, groups…
• Packaged, Expedia…
• Opaque Atrapalo, Lastminute
• Restricted cancellations, advanced payment, promotions


Price Matrix

RACK
RACK PREF
PREF BAR1
BAR1 BAR2
BAR2 BAR3
BAR3 BAR4
BAR4 BAR5
BAR5 BAR6
BAR6 WKD1
WKD1 WKD2
WKD2

Standard
Standard 200
200 160
160 140
140 120
120 110
110 100
100 90
90 80
80 70
70 60
60

Superior
Superior 215
215 175
175 155
155 135
135 125
125 115
115 105
105 95
95 85
85 75
75

Suite
Suite 230
230 190
190 170
170 150
150 140
140 130
130 120
120 110
110 100
100 90
90

Creation of numerous published rates that pass from one to the
other in function of the level of occupation and expected demand,
and we make if from the level of rates that we consider most
opportune.

¿What is the BAR Best Available Rate?


Price Matrix x Occupation

Demand Profile Nov - Mar Apr - Jun Jul - Oct

BAR BAR BAR
Occupation Rate Occupation Rate Occupation Rate
Rate Base Base Rate Base Rate

215 230 250
High Demand >75% 205 >85% 215 >95% 235
180 195 215

190 215 235
Moderate Demand 65% 175 75% 205 75% 225
165 180 200

190 190 210
Low Demand 55% 170 65% 175 65% 195
150 165 185

140 150 170
Very Low Demand <50% 110 >55% 130 >55% 150
75 115 135


Total Demand, Unconstrained Demand

The total demand of a room for a specified day. This figure is
independent of the physical capacity of the hotel.

For the total registered demand for a product, it’s useful to have
a system that permits ‘on-request’, including when all rooms are
already sold.

This demand will allow us to calculate the “Last Room Value”, or
how much somebody is willing to pay for the last room in our
inventory.


Segmentation of the Market/Consumers

Market segmentation is the study of consumers and what their
different motives may be for choosing our hotel.

This allows us to to create different segments or groups of
consumers according to their motives for the visit.

To know these motives we must be able to analyze ways to
increase the demand in each of these segments.

We also must know the segments of our competitors and the
destination in general to make comparisons.



In order to investigate the segmentation of the market and
consumers, we must collect data:

• Duration of stay
• Motive for the stay – source and recipient
• Motive to choose hotel
• How long in advance did they book hotel
• Revenue per room
• Revenue per client
• Distribution channel where booking was made


Price Elasticity

Price elasticity measures the effect changes in price have on
demand. Sometimes an increase in price causes a significant
decrease in the demand and in other instances only a slight
decrease.

Elastic Demand Inelastic Demand

• High competition • Low competition
• Standard services • Differentiated services



Example:


Demand Forecasting

Investigation based on a calendar that allows us to know the
demand that our product will have in the future.

The objective is to forecast the periods of low demand and
stimulate sales, as well as to know the periods of high demand in
which we can increase rates.

Use Google Calendar to collect all of the events that can
influence consumption. This tool is easy to use and available to
all of the team.


Demand Forecasting

Forecasting consists of the estimation and analysis of future
demand for a specific product or service using inputs such as
historic sales, marketing estimates and promotional information.

Price Waterhouse Coopers


Demand Forecasting

To be able to forecast, it’s necessary to know historic consumption
data, referring to:

• Consumption weekdays
• Consumption during events: conferences, festivals…
• Consumption during vacations
• Clients – Business or Leisure
• Changes in demand

It can be easy to make a forecast. If you can, also make a
forecast about your competitors and about the destination.

This document will allow you to know the number of arrivals and
departures, occupation by room and possibly revenue from other
non-room sources.
It’s a great tool to define internal objectives.


Objective of Forecasting

Why do we make forecasts?

• Measure demand
• Forsee falls in demand
• React to low demand
• Define commercial strategy
• Apply rates
• Restrict sales
• Control costs
• Control commissions
• Financial planning
• Human Resources planning


Forecasting: Behavior Patterns of Reservations

Booking Pace
The booking pace must be monitized for the current day and
future days to ensure alignment with the forecast and to be able
to react to any deviations from the forecast that occur.

DailyPick-up
The daily pick-up, and the ability to follow the rhythym of
reservations must distinguish individuals and groups.


Pick-Up

The pick-up is the figure that tells us today how many confirmed
reservations we have for a specific day.
This figure shows us in a detailed way, by day or room type, the
% already sold.

This figure allows us to guide our decisions to increase or
maintain rates for a specific day and what we must already apply
today.

The ideal is to be able to analyze and act daily, in all distribution
channels, with this information.


Pick-Up

Difference in the number of reservations between one date and another.
Example: Reservations made yesterday for the month of June.


Forecasting Elements

To record:

• Objectives reached vs. objectives set
• Reservations on the books
• Pick-up realized vs. expected pick-up
• Expected segments
• Average rate
• Total revenue

We should forecast:

• Once per week for the next 4 weeks
• Once per month for the next 3 months
• Once per month every 3 months for the whole year
• Once per year for the next year


Demand Curve vs. Advanced Reservation

Individuals

Companies

FIT

Groups

-60 -30 -15 -5 Days before arrival


Demand Curve


Groups

We should take note of all Group requests in our statistics, so we
can evaluate profitability and apply RM to group pricing.

• Provider
• Type of contract
• Revenue per room
• Revenue per guest
• Revenue per group
• Group sub-segments
• Purpose of the visit
• number of and motive for cancellations


Demand Curve


Tour Operators

Tour operator contracts are the most difficult to apply RM to
since the system of prices and sales is already fairly static.
Technically, it is a segment ‘not yieldable’.

Hotels should insist the tour operators agree to dynamic
prices, but these companies and their ‘packages’ business
model make it very difficult commercially to use dynamic
pricing methods.

From the analysis of these contracts we can reason that there
are months hotels benefit from them and months where sales
opportunities are lost due to them.


Shoulder Days

What is the impact of closing sales for a specific day?
The impact of closing sales of a room type for specified dates
could be larger than what we believe.

The “Shoulder days” are the days of ‘closed stays’ that imply
a reservation. In other words, the 2 or 3 days the client would
have stayed in the hotel.

This statistic helps us to calculate the impact on revenue
when a room type isn’t available.
Some segments like groups and tour operators can produce a
large number of ‘shoulder days’.



What actions should we take?


Tactics – How to act during high demand

High Demand

• Close or restrict discounts
• Apply a minimum of nights, but with caution
• Reduce groups and ‘shoulder days’
• Reduce ‘late check out’, and in moderation, if possible, ‘late check in’
• Increase guarantees and cancellation charges
• Increase rates in accordance with those the competition
• Increase the cost of packages and hotel services
• Apply the full cost of suits and executive rooms
• Select dates that are ‘closed to arrivals’
• Evaluate the total profit of the hotel and try to increase it
• Invoice for all of the nights in case the client shortens their stay


Tactics – How to act during low demand

Low demand:

• Sell added value and special benefits
• Offer packages including internal and external products
• Don’t close sales of the cheapest category of rooms
• Incentivize upgrades
• Offer better prices at adjusted budgets
• Don’t use ‘stay restrictions’
• Motivate hotel staff to be especially attentive
• Monitor competitors’ actions
• Lower prices


Consistency

Consistency in applying prices…

It’s very important to be consistent with our product, services
and the value we offer.

We must align our value, price and quality, in order to not
disappoint our customers.


Tactics – Four Revenue Management

Principal points to remember:

•
•
•
•
•
•
•
•
•
•
•
•


Questions

When should we reject a sale?

Is it useful to know how much customers spend?

When should we offer a discount?

When should we use overbooking?


How do we measure our Factor Yield / RM

Room Revenue
o
Average Rate x Occupation
Revenue per Available Room
RevPAR
Number of Rooms Available


How do we measure our Factor Yield / RM

Total Revenue
TRevPAr Total Revenue per Available Room
Rooms Available

Gross Operating Profit – GOP
GOPPar
Gross Operational Profit per Available Room
Rooms Available


Elements of Analysis

We have three levels of analysis: daily, monthly and yearly

Daily:
• Average occupation
• Average rate
• Rev PAR
• Pick-Up

Monthly:
• Geographic origin, GOB
• Length-of-stay, LOS
• Lead Time
• Channel
• Commissions

Always:
• Profitability of each type of guest


Benchmarking

Benchmarketing is the study of the competition to discover how
they sell, at what price and what their occupancy is. The objective
is to discover how we can improve and act upon this with
distributors, guests…To be able to improve our commercialization.

At a minimum, benchmarking should give us information on:

• Prices
• Room type
• Products
• Packages
• Channels of distribution
• Occupation
• Services offered


Benchmarking

My Hotel vs. My Competitors
Who manages their hotel better, Manager A or Manager B?


Daily Prices

To manage our prices taking into account the prices our
competition is selling at, is one of the best tools to help us sell
smarter. From them we can make a number of conclusions.
There are a number of ways to obtain this information.

The questions we seek to answer include:

• What is their strategy?
• Do they use ‘yield’?
• What occupation do they have?
• Can it affect our sales?
• What would be their future prices?
• Do they require minimum stay (L.O.S.)?


Place your hotel: market vs. your value

All of the commercial policies and prices of your establishment
must be consistent with your product and values.

Aligning price, services and product will ensure you have an
excellent perceived value for money and that demand is more
loyal and sustained.

Monitor your competitors in terms of their products and
associated ‘perceived value’. After, compare your hotel to theirs
and adjust your offering to be more competitive and more
productive.


Place your hotel: market vs. your value

Evaluate your hotel and your competitors:

• Product – room type
• Product – hotel services
• Price
• Channels of distribution
• Location
• Strengths and weaknesses
• Client segments of the hotel
• Their presence in other markets
• What hotels have similar prices

You can also study the market for your destination, as well as
source markets.


Place your hotel: market vs. your value - SWOT

Strengths Weaknesses

My Hotel

My Environment

Threats Opportunities


Market Share Report

This study helps us to understand our results compared to our
competitors, especially in regards to the average price and
occupation.

The parameters are:

MPI. Market Penetration Index
market penetration rate vs. the average occupation of our
competitors

ARI. Average Rate Index
average price index, our average price vs. our competitors

RGI. Revenue Generator Index
revenue generator index, our share of revenue vs. our
competitors


Distributors

Our presence with distributors is key. We can consult them at
any time for competitive data and we can observe the positions
they occupy in search engine results.

We can observe how they sell… use of photography, text,
reference to locations, positioning of product.

Very good presence with distributors can help our product
compete with superior hotels (in this case we’d be competitive
on price) and with similar hotels (in this case we’d be the
better option).


How to be present. Distributors and the exponential effect.

Is it really the same hotel? Where will customers book it?
The hotel’s website is not the best option to book it in this case.


Many published rates and many products

An establishment should have however many rates they believe
to be opportune. All rates should be competitive depending upon
the moment they are applied.

Attention to the offers and closed prices and/or flat-rates offered
to companies and agencies.

If the latter act with a discount code, we must always reference
these exceptions and offers.

All products should always be offered and done so with the
largest number of distributors possible.


Pricing Matrix

RACK
RACK PREF
PREF BAR1
BAR1 BAR2
BAR2 BAR3
BAR3 BAR4
BAR4 BAR5
BAR5 BAR6
BAR6 WKD1
WKD1 WKD2
WKD2

Standard
Standard 200
200 160
160 140
140 120
120 110
110 100
100 90
90 80
80 70
70 60
60

Superior
Superior 215
215 175
175 155
155 135
135 125
125 115
115 105
105 95
95 85
85 75
75

Suite
Suite 230
230 190
190 170
170 150
150 140
140 130
130 120
120 110
110 100
100 90
90


Optimize your supplementary products

Clients for the most part consume on impulse. A direct call to
make a reservation sometimes lasts only a few minutes, as can
the online process, so we must always present ourselves in the
most ‘desirable’ fashion.

Different room types meet different needs of different segments.
Why don’t we offer them all?

In the descriptions suggested ‘use/benefits’ are given. Create
clear differences between the room categories. Stimulate the
thought… ‘a little more per night you can enjoy…’


Upselling

Upselling is another tool that helps us to achieve good results
from RM.

Two moments when it can be applied:
• Moment reservation is made
• Arrival at hotel

Offer what the client ‘needs’ in a direct way for a little more
money.
We must:
• Understand the client
• Observe their needs
• Propose options
• Communicate the benefits


Price Parity

Although price parity is a model criticized by some, others
defend it.

In spite of not being logically sound financially, it’s use has
spread and has been accepted by all OTA’s.

Internally, the differences between the reprecussion of the
commissions that are considered as costs of promotion or
sales; are compensated some OTA’s with others.

In the case of not having parity, clients will buy in mass, the
cheapest OTA’s. Although this would be more effective,
having one OTA’s dominating almost all sales would be
dangerous.


Commercial Parity

Commercial parity is based on the commercial parameters that
can influence the client’s purchase

It’s important to have commercial parity with our distributors
because they otherwise could have advantages over our own
channel.

• Payment conditions
• Reservation conditions
• Cancellation charges
• Advance notice of cancellation required
• Cleaning charges
• Hidden offers
• …


Control Price Parity

Controlling price parity is very important and affects our
relationship with our clients and distributors.

Technological tools exist to compare prices for our own hotel:

• know who we work with
• know who are our distributors
• know the mark-up on our product
• understand the distributor’s model: retail, merchant, opaque...


Parity Disruptors

Some companies willingly perform actions to cause “Parity
Disruption”.

Break the parity of your hotel to get benefits from it, decreasing
your margin so clients choose your property.

In other instances, data is aggregated from different channels to
show which has the lower prices.
Normally, these companies don’t have direct contracts with the
hotel and use price comparison to attract clients.

If it’s necessary, make reservations in each channel to get the
voucher and know which agency is selling your property in this
way.


Overbooking

Overbooking isn’t an effect or a consequence.
In RM, it is a tool that allows us to get the most ‘play’ out of our
hotel’s availability.

On many occasions, the no-shows, last minute cancellations and
shortened stays, affect our profitability.
It’s recommended to have an action plan for these occasions.

We need to think about how these deviations will impact:
costs of stay, costs of transportation, compensation for services
or monetary, and possibly sanctions.


Overbooking

Calculate your level of Overbooking and evaluate risk vs. Profit

Not Guaranteed
Reservations Received > Cancellations > Arrivals
No Shows

Rates we charge
Transfer Expenses


Parameters to measure efficacy

REVPAR: Room Revenue per Available Room

TREVPAR: Total Revenue per Available Room

TREVPEC: Total Revenue per Client

GOPPAR: Gross Operating Profit per Available Rooms

Conference/
REVPAM: Conference/Banqueting Revenue per Available M2

REVPASH: F&B Revenue per Available seats and hour


When we obtain more by applying RM


Where to obtain more by applying RM


How much you’ve obtained by applying RM



Practice: How to determine our prices


Pricing Matrix

Pricing Matrix – General

RACK
RACK PREF
PREF BAR1
BAR1 BAR2
BAR2 BAR3
BAR3 BAR4
BAR4 BAR5
BAR5 BAR6
BAR6 WKD1
WKD1 WKD2
WKD2

Standard
Standard 200
200 160
160 140
140 120
120 110
110 100
100 90
90 80
80 70
70 60
60

Superior
Superior 215
215 175
175 155
155 135
135 125
125 115
115 105
105 95
95 85
85 75
75

Suite
Suite 230
230 190
190 170
170 150
150 140
140 130
130 120
120 110
110 100
100 90
90


Pricing Matrix

Pricing Matrix – Very Low Season
100% 75% 50% 25% 99% 66% 33%

RACK
RACK PREF
PREF BAR1
BAR1 BAR2
BAR2 BAR3
BAR3 BAR4
BAR4 BAR5
BAR5 BAR6
BAR6 WKD1
WKD1 WKD2
WKD2

Standard
Standard 200
200 160
160 140
140 120
120 110
110 100
100 90
90 80
80 70
70 60
60

Superior
Superior 215
215 175
175 155
155 135
135 125
125 115
115 105
105 95
95 85
85 75
75

Suite
Suite 230
230 190
190 170
170 150
150 140
140 130
130 120
120 110
110 100
100 90
90


Pricing Matrix

Pricing Matrix – Low Season
100% 75% 50% 25%

RACK
RACK PREF
PREF BAR1
BAR1 BAR2
BAR2 BAR3
BAR3 BAR4
BAR4 BAR5
BAR5 BAR6
BAR6 WKD1
WKD1 WKD2
WKD2

Standard
Standard 200
200 160
160 140
140 120
120 110
110 100
100 90
90 80
80 70
70 60
60

Superior
Superior 215
215 175
175 155
155 135
135 125
125 115
115 105
105 95
95 85
85 75
75

Suite
Suite 230
230 190
190 170
170 150
150 140
140 130
130 120
120 110
110 100
100 90
90


Pricing Matrix

Pricing Matrix – Mid-Season
99% 66% 33%

RACK
RACK PREF
PREF BAR1
BAR1 BAR2
BAR2 BAR3
BAR3 BAR4
BAR4 BAR5
BAR5 BAR6
BAR6 WKD1
WKD1 WKD2
WKD2

Standard
Standard 200
200 160
160 140
140 120
120 110
110 100
100 90
90 80
80 70
70 60
60

Superior
Superior 215
215 175
175 155
155 135
135 125
125 115
115 105
105 95
95 85
85 75
75

Suite
Suite 230
230 190
190 170
170 150
150 140
140 130
130 120
120 110
110 100
100 90
90


Pricing Matrix

Pricing Matrix – Mid-to-High Season
100% 75% 50% 25%

RACK
RACK PREF
PREF BAR1
BAR1 BAR2
BAR2 BAR3
BAR3 BAR4
BAR4 BAR5
BAR5 BAR6
BAR6 WKD1
WKD1 WKD2
WKD2

Standard
Standard 200
200 160
160 140
140 120
120 110
110 100
100 90
90 80
80 70
70 60
60

Superior
Superior 215
215 175
175 155
155 135
135 125
125 115
115 105
105 95
95 85
85 75
75

Suite
Suite 230
230 190
190 170
170 150
150 140
140 130
130 120
120 110
110 100
100 90
90


Tutorial introduction to revenue management for hotels hospitality seminar what is revenue management in hotel industry course

Tutorial introduction to revenue management for hotels hospitality seminar what is revenue management in hotel industry course

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