Adding value to the hospitality experience - Roles and functions

16 important questions on Adding value to the hospitality experience - Roles and functions

What are the stages that add value in satisfying the customers' needs?

Actual staging costs, the required financial returns, and the competitive market in which the organisation operates.

What is an organisational chart?

An organisational chart is a diagram that displays a reporting or relationship hierarchy and structure.

What is macro-economic data?

Macro-economic data is most often used to determine how to set your price.
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What is micro-economic data?

Micro-economic data refers to the company economy factors. This includes things like a specific industry or niche, price changes competitors make, and the general supply and demand.

Who are the executive team?

General manager, heads of the financial department, the sales&marketing departments. They typically establish the price levels.

What does the revenue manager contribute?

The revenue manager contributes crucial data to support the decision-making process as he/she can make reasonable predictions about upcoming trends and developments for the demand in the next period, based on the booking behaviour of potential groups of customers in the past.

What does the revenue manager do?

Once the executive team has agreed on the price levels, and head office has approved them, the revenue manager can start to apply detailed forecasts to decide which prices, and against which conditions, will be made available for particular days (operational pricing). The revenue manager knows what is selling, and what is not.

How can you stimulate the demand? Give example

Selectively making rooms available only to guests who will generate the highest revenue.

What does the revenue manager monitor?

The revenue manager closely monitors the actual booking patterns and number of reservations against the forecast.

What does business on the books mean?

The number of reservations made for a particular day in the future.

What kind of actions can you do to cover the unusual days (booking patterns)? Give examples

1. Easing booking restrictions when demand is slow.
2. Closing down the lower price levels in the case of excessive demand.
(the revenue manager considers any upcoming events that might stimulate demand or have a possible negative effect)

What is the sales&marketing manager responsible for?

The sales&marketing manager is responsible for developing the hotel's share of (potential) corporate clients.

What does a sales&marketing manager?

They network daily with major clients, so the sales & marketing team should be able to provide an accurate estimate of the value of clients, and generate new business leads.

Who are the decision-making team?

General manager, revenue manager, sales&marketing manager, finance manager and the operations manager.

What does an operations manager contribute?

1. Operational staff have direct regular contact with guests and can discover valuable information about future business that might contribute to better decisions.
2. They play a crucial role in staging customer experience through their behaviour towards the guests and thus directly influence reviews and online reputation of the hotel, which is one of the factors that determine the hotel's ranking on review and booking sites.

What is an external party that is involved in the pricing decisions?

Online travel agents (OTAs). They play an important and costly role in the distribution of the hospitality product.

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