Revenue Management For The Hospitality Industry 1st Edition David K Hayes, Allisha Miller - Solutions

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What is involved in the act step for influencing demand?
What is involved in the check step for influencing demand?
What does the do step for influencing demand include?
What does the plan step for influencing demand include?
What are the advantages of a plan, do, check, act methodology of influencing demand?
Why must demand be influenced in such a way as to achieve a company’s objectives?
What is the definition of influencing demand?
What are the advantages of using dashboards to present demand information?
How can the proper level of detail to communicate be determined?
Why is ongoing, continuous communication of demand information needed?
What types of decisions are based on demand information?
Who should receive feedback on the agreed upon demand plan and why?
What are the key linkages of the communication process?
What are the key elements of communicating demand?
How would you encourage the demand organization to communicate demand information as honestly as possible?
What is the role of the demand manager in the demand planning process?
Why is an 18-month or longer planning horizon advantageous?
What are the risks of arbitrarily matching the demand plan to the business plan objective of sales revenue?
How should the business plan and strategy input be utilized in the demand planning process?
Why should the demand plan not be constrained by supply limitations?
Why is it advantageous to consider the demand plan a request for product?
Why is the documentation, review, and monitoring of assumptions important?What do you lose when you do not document and review the assumptions?
What are the disadvantages of forward-looking input from the demand organization?
What are the advantages of forward-looking input from the demand organization?
What are the disadvantages of a statistical forecast?
What are the advantages of a statistical forecast?
What is the difference between a demand forecast and a demand plan?
If you were to design a demand planning process, what would be the most important elements to include in the process?
What improvements in customer service and financial performance should you expect from a demand management process?
What are the financial and customer service advantages of an effective demand management process?
What does measurement of the GMROI reveal?
Why is participation by the sales and marketing organizations imperative to the success of the demand management process?
What are the pitfalls of the sales organization expediting orders?
What is the impact on financial performance when customers do not order as much product as forecasted?
What is the impact on financial and customer service performance when customers order more product than has been forecasted?
What does collaboration involve?
Why should the supply and financial plans be based on the demand plan rather than vice versa?
In what terminology do the following functions view demand? Sales and marketing Product development Supply organization Customer service Financial organization
What is the difference between a forecast of demand and a demand plan reached by consensus?
Why should a demand forecast or plan be based on customer-required delivery dates rather than shipment dates?
What is the definition of a demand forecast?
What are the advantages of a broad view of demand management, rather than the narrow view?
What are the four elements of the broad-view model of demand management?
What does the demand management process involve, according to Philip Kotler?
The demand management process is most effective when it is the responsibility of which function(s) in the organization?
To determine whether there is a need to evolve along the continuum shown in Figure 1, ask yourself and others within your company:a. Does the production planner or master scheduler develop the forecast because the organizations responsible for sales and marketing do not generate forecasts?b. How
Review Figure 1. Where would you place your company’s demand management process in this figure?
JCT 2011 suite of contracts.
NEC Partnering Option X12 contract;
Public Sector Partnering Contract (PSPC) endorsed by the Federation of Property Societies;
Project Partnering Contract 2000 (PPC2000) developed by the ACA;
History record cards. The information on the job card is transferred for each individual machine to its history card, normally a computer file, together with the hours operated, fuel used and emissions-related maintenance information. The monthly records are then abstracted to prepare costs for
Job cards filled out by the fitter, commonly recorded on an ongoing basis with an electronic hand-held palm pad each time maintenance work is performed, and which should include the date, description of the work done, materials used, including identification of emissions-related parts and
A maintenance schedule indicating the type of maintenance and servicing required on each plant item together with the time intervals between each plant maintenance operation, including rebuilds of engine and other parts to maintain emissions’ performance requirements.
An asset register comprising an inventory of each plant item in the fleet, with information on the date of purchase, registration or code number, purchase price, current value, location, hours operated, etc.
Profitability, i.e. profit before tax and interest as a percentage of sales.
Productivity expressed as company added value (i.e.turnover minus subcontracts) per employee.
Safety, i.e. reportable accidents per 100 000 employees as defined by H&S Commission. Defects on a scale 0–10, 10=defect-free.
Predictability construction time (ditto).
Predictability design time (ditto).
Predictability construction cost (construction), i.e.out-turn cost-cost estimate/cost estimate.
Predictability construction cost (design), i.e. out-turn cost-cost estimate/cost estimate.
Construction time and cost, i.e. comparison of project this year with similar project in previous year.
Client satisfaction – service rated on a scale 0–10.
Client satisfaction – product rated on a scale 0–10.
Business results look at the company’s performance and improvement in its key business areas: customer satisfaction, financial and market-place performance, human resources, supplier and partner performance, and operational performance. This category also examines how the company performs
Process management addresses aspects of how key production, delivery and support processes are designed, managed, and improved.
Human-resource focus deals with how the company enables its workforce to develop their full potential and how the workforce is aligned with the company’s objectives.
Information and analysis delve into the management, effective use, and analysis of data and information to support key company processes and the company’s performance-management system.
The customer and market focus explores how the company determines requirements and expectations of customers and markets.
The strategic planning criterion focuses on how the company sets strategic directions and how it determines key action plans.
The leadership criterion involves how senior executives guide the company and how the company addresses its responsibilities to the public and corporate social responsibility.
Because they are so new, compensation programs for revenue managers continue to evolve. If you were Sofia, what specifi c factors would you consider when designing Damario’s compensation package?How would you measure his effectiveness on each of those factors?
Damario indicated that the improved cohesiveness of his committee will be a “secret weapon” driving next year’s results. Why is a unifi ed organizational commitment to effective revenue optimization efforts so important? What specifi c actions can a revenue manager take to help build
In this case study, Sofi a indicates that the customer-centric revenue optimization approach utilized by Damario has improved the resort’s guest satisfaction scores. What do you think is the relationship between effective revenue management strategies and improved customer satisfaction? Why?
Based on what you have learned in this and previous chapters in the book, do you think it is data collection and analysis or staff awareness and commitment that will most improve a hospitality organization’s revenue optimization efforts?
Due to increased numbers of guests served, there will be no reduction in total food and beverage revenue.
There will be no change in labor cost or other operating expense.
Beverage cost percent will increase from 20 percent to 22 percent of beverage sales.
Food cost percent will increase from 28 percent to 30 percent of food sales.
Danny is the owner of the Repas French restaurant. The restaurant does good volume but due to very weak local economy, Danny is considering promotions and price reductions next year that would, on average, reduce both his food and beverage prices by 5 percent. He is hoping that such price
Adrian is the DOSM and also serves as the property RM at the Clarion Conference Center. Adrian is considering two alternative bid opportunities his hotel received from the local CVB. On a date in the future, two medical groups seek 150 rooms from his hotel, but he can accommodate only one of
Teshia is the RM at the 250-room Springwood Suites hotel. The Springwood is a select service property whose F&B services consist only of complimentary breakfast. For a future date, Teshia has 100 rooms on the books and she forecasts that a total of 200 rooms can be sold that day at an ADR of
Jody Guilder is the Assistant GM for sales at the Caustic Bay Hotel. In response to a request from the hotel’s GM, Jody supplied Poco Niller, the hotel’s new RM, with STAR reports for the past 12 months.Jody claims business in the local area is down signifi cantly because the Caustic Bay’s
Karla Armbruster is the RM at a 200-room select service hotel near a major highway.Last year, her ADR was $149.99 and her property ran at 80 percent occupancy. Karla is considering the impact on her property of implementing programs that would increase her ADR by 5 percent and 10 percent. If she
Is this a revenue management challenge that is best addressed with a revenue displacement analysis? Explain your answer.
Assume you were the executive director of the Pecan Growers association. What do you think your reaction would be if you were told you needed to move your conference due to the NCAA tournament?
Assume you were the decision-making RM at the Courtyard Plaza. Would you agree to block the rooms for transient sales as Warren suggests, or would you follow Andrea’s advice?
If the proposed ad campaign is implemented and it is effective, what nonrooms-related revenue centers in the resort would likely be affected? How could Pam measure the campaign’s affect on these areas?
Assume you were Damario; what occupancy percentage-related tools might you suggest Pam use to help measure the effectiveness of the proposed campaign?
Assume you were Damario; what specifi c ADR-related tools might you suggest Pam use to help measure the effectiveness of the proposed campaign?
In this scenario, the resort’s DOSM and RM work closely together to meet their respective goals. In many cases, the explicit goals of these two functional areas are identical.Identify two specifi c instances in which the interests of these two areas could be in confl ict. How important do you
Tom Gaylon is the executive director of the Greater Pikesville CVB. Pikesville is a popular tourist destination noted for its vibrant downtown and area attractions. The 25 hotels in the Pikesville area average a 65 percent annual occupancy; with occupancies in the 80s and 90s during the summer, but
National Hotels Company is the franchisor for the relatively new Home Too hotel brand.Currently, 30 franchisees operate approximately 70 hotels nationally. The National Hotels president is Ralph Hitz. Ralph is convinced that if he created an online revenue management training program, and if his
Wiredup.com is one of the hotel industries most popular discount booking sites. Dana Bash is the corporate RM for a hotel company franchising the upscale Lexor hotel brand. Dana works directly with her company’s 50 franchisees, most of whom operate their properties in downtown metropolitan areas.
Mandy Davies is the newly appointed corporate RM for Saga Hotels. Saga owns and operates ten hotels consisting of three Holiday Inn Express properties, two Comfort Inns, one Hampton, one Residence Inn, one Motel 6, and two Country Inn and Suites. The hotels are located within 300 miles of each
Kevin Sharp owns a fi ve-bed tanning salon in Plant City, Florida. He is considering implementing an aggressive revenue optimization program. Help Kevin determine if such an approach might be right for his business by completing the following organizational assessment tool. If you are unfamiliar
Assume you were the Corporate RM at Angela’s company. How important do you think your personal relationship with each brand’s corporate-level RMs would be in obtaining from them the information Angela will likely need to get from you as she seeks to make this important decision?
Assume you were the corporate RM responsible for building occupancy percentage at Waterford Inns. What types of information do you think your own sales representative would want from you as he or she tries to sell Angela your company’s brand for her new property?
Assume you were the corporate RM responsible for leading ADR building efforts at Sleep Well hotels. What types of information do you think Chuck would need from you as he tries to sell Angela your company’s brand for her new property?

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