Hotel Revenue Management 101 Example

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  • Опубликовано: 22 дек 2024

Комментарии • 89

  • @gundulagelato4500
    @gundulagelato4500 3 года назад +13

    Don't miss the opportunity to get more additional revenue in food & beverage, parking, wellness and many more services with higher occupancy.

  • @dinku48
    @dinku48 3 года назад +4

    Perfectly elaborated this revenue management strategy.

  • @emresemerci1949
    @emresemerci1949 4 года назад +4

    Thank you for the video. As a Tourism management student, these kind of videos helping me a lot.

  • @patriciaposton1
    @patriciaposton1 4 года назад +2

    Very good presentation. Now I know why many motels and hotels be half empty. They are making more money like that. Good to know
    Great information. Cleared up many misconceptions about the profitability of the hospitality industry.

  • @Hotelcourse
    @Hotelcourse Год назад +4

    Great explanation 👍

  • @adapthospitality3154
    @adapthospitality3154 4 года назад +4

    Insightfull
    This is generally how it works. However, in some certain situations as an operator, you are obliged to go with the first scenario, at the end of the day it is much better to work a lot & get less profit, at least you have with what to cover your expenses, rather to experience losses.
    Some bad decisions let the hotel breath till passing the moments of crisis
    Revenue management is evolving; the same parameters doesn’t apply all the time in all situations

  • @jashankhokhar1
    @jashankhokhar1 3 года назад +1

    It helped me in doing my college assignment.Thanks allot.

  • @ccuny1
    @ccuny1 5 лет назад +2

    Perfect intro to the subject for me. Thank you so much. Liked and subbed.

  • @musiqnote939
    @musiqnote939 2 года назад +1

    Excellent illustration!

    • @ChrisHunterVideos
      @ChrisHunterVideos 2 года назад

      Thank you for your kind words and encouragement!

  • @Kate-vs9jp
    @Kate-vs9jp 3 года назад +3

    What a great content! Very easy to understand. 👍🏼

  • @mikewilliams4947
    @mikewilliams4947 6 лет назад +2

    Excellent, easy to understand and watch. Great job thank you!

    • @mdarsika8
      @mdarsika8 5 лет назад

      However the fact is sometime when we put higher rate (10% mark up probably) the pick up is almost shut down. (Bali Hotel)

  • @MyNaturalism
    @MyNaturalism 6 лет назад +1

    Thank you from across the globe!

  • @jbb3604
    @jbb3604 5 лет назад +7

    This was extremely helpful. Low occupancy makes you feel like your doing something wrong. I'm so worried to increase my rates and in turn decrease my occupancy.

    • @hotelrevenueman5708
      @hotelrevenueman5708  5 лет назад

      Reach out to me and I'll give you an hour of my time for free to see if there are some opportunities at your property that you might be passing up. Chris@HotelRevenueMan.com (this is my youtube channel).

  • @bobt.saunders6253
    @bobt.saunders6253 6 лет назад +2

    Just what I have been looking for.

  • @ganiebanu
    @ganiebanu 7 месяцев назад +1

    What about the extra income from inhouse guests from FnB and other sources?

    • @hotelrevenueman5708
      @hotelrevenueman5708  7 месяцев назад

      That could be factored in to an example. For this video it's just focusing on the manipulation of room rates. Thanks for commenting!

  • @aziza03
    @aziza03 2 года назад +2

    very helpful video. but I have a question, if we make all the weeks as same as friday schedule is it going to be same. i mean what if we do $110 for all the weekdays and weekends. Does our business going to be the same every day?

    • @hotelrevenueman5708
      @hotelrevenueman5708  2 года назад +1

      Generally your weekdays would be basically empty, then you would get some bookings on the weekend. This is because generally weekdays have less demand, so you have to lower rates to get bookings. Here's a video I made that shows what happened at a real hotel who had all days priced the same. ruclips.net/video/eqSjP_Uv5qs/видео.html

    • @aziza03
      @aziza03 2 года назад +1

      @@hotelrevenueman5708 thank you so much!!!

  • @tifftaff6672
    @tifftaff6672 5 лет назад +5

    Thank you so much! Really helped me out and cleared my mind!!

  • @keith8859
    @keith8859 3 года назад +1

    this is clear to see, busy hotel doesnt mean to be profitable one, more guests staying in more rooms would make more depreciation in facilities and amenities, even though i think there actually is benefit, that is for marketing, many guests come there will be more worth of mouth which is good for hotel reputation and reviews

  • @Jiggz9
    @Jiggz9 5 лет назад +3

    this is great! However, this only helps if you have played around with price per room to see what people are willing to pay.

    • @hotelrevenueman5708
      @hotelrevenueman5708  5 лет назад +1

      Jigar, you are correct. Many hoteliers are not changing their rates to see what guests are willing to pay, and that's a BIG mistake. When a hotel sells out the market is saying "Those rooms are a great deal. I'll take them all!" This means people would have been willing to pay more. How much more? The only way to know is to run continual experiments and to have a system of recording those experiments so that you can use that information to make future decisions. This is what I teach hoteliers how to do. Thanks for the comment!

  • @MrRminaya
    @MrRminaya 3 года назад

    How would I determine if revenue growth is attributed to rate increase or occupancy increase? - Thank you

  • @elisayadarola7998
    @elisayadarola7998 3 года назад +1

    Hi!! Any plans of speaking of USALI? xoxo

  • @RiddhiKapkoti
    @RiddhiKapkoti Год назад

    Nice. But its depand on meal plan and typ3 of property also. If a beach hotel where they don't have many restaurants nearby and guest booked on B&B, the working will change.

  • @germannegron3868
    @germannegron3868 2 месяца назад

    Question...so this means that as long as you raised the rate it don't matter the OCC? In terms of profit?

    • @hotelrevenueman5708
      @hotelrevenueman5708  2 месяца назад +1

      The more you raise the rate, the more profit you'll have for each room sold, but you'll sell fewer rooms. You could also lower the room rate, making less profit per room, but sell more rooms. When you sell more rooms though, your costs go up because you have more rooms to clean and more people to feed. Revenue management is trying to figure out what the best rate is to sell the right number of rooms that will make you the most money (profit).

    • @germannegron3868
      @germannegron3868 2 месяца назад

      ​@@hotelrevenueman5708Thanks. Actually this method of revenue that your teaching helps basically how to sell more rooms and maybe match the budget or just to balance the profit?

  • @monicashanelucero3305
    @monicashanelucero3305 2 года назад

    how to get the room revenue first to get the ADR?

    • @hotelrevenueman5708
      @hotelrevenueman5708  2 года назад

      This will be in the hotel's computer system (PMS - Property Management System). Look for the revenue, then look for the number of room nights sold for the same time period. Divide the revenue by the number of room night to get the ADR.

  • @user-lb1ig2yb3j
    @user-lb1ig2yb3j 6 лет назад +1

    Beautiful explanation

  • @zummliller
    @zummliller 5 лет назад +1

    Excellent sir, thank you.

  • @stevensunderland8345
    @stevensunderland8345 4 года назад

    How do I make the jump from front desk to revenue management.

    • @hotelrevenueman5708
      @hotelrevenueman5708  4 года назад

      Check with your manager and ask if you can start helping with some tasks related to OTAs. This might be reconciling weekly Expedia bills, to double checking that inventory and rates are right on Booking.com. Take the initiative to take some less desirable tasks off someone else's plate, then when someone is needed to do some substantial revenue management tasks, you'll be the go-to employee. Good luck! You can also feel free to tell them about this youtube channel. Let them know that there might be some free information that could be a benefit to the hotel.

    • @Potencyfunction
      @Potencyfunction 6 месяцев назад

      You first need to learn about the holistic education. There not a "jump" term in business academic educated person, there is not a doubt that you are an idiot, to be in the front desk you need to have a costumer service and communication skills while you are showing that you put questions that are not related with this field. So make the jump at motherfuking hell and comment there with illiterates at your level . Okay Steve Retard?

  • @theguyinthehelmet1875
    @theguyinthehelmet1875 6 лет назад +2

    Great videos, Chris! Tried emailing you but the Chris-email came back not found. I resend though to the Ask-email.

    • @hotelrevenueman5708
      @hotelrevenueman5708  5 лет назад

      Thanks for reaching out. If your email hasn't gotten through yet, try Chris@HotelRevenueMan.com

    • @Potencyfunction
      @Potencyfunction 6 месяцев назад

      Yes but how to write at 8 level ?

  • @noel89nuyda
    @noel89nuyda 4 года назад +1

    This is awesome!

  • @stgeo5721
    @stgeo5721 2 года назад

    Awesome tips!

  • @soyedgar1831
    @soyedgar1831 2 года назад

    Do someone knows a good book to learn this?

    • @Potencyfunction
      @Potencyfunction 6 месяцев назад

      You need Hospitality Academy for this specific subject. You do not learn that in 8 grade anyways.

  • @cooperronnie1908
    @cooperronnie1908 4 года назад

    Wt is market cap ?

    • @Potencyfunction
      @Potencyfunction 6 месяцев назад

      Go and make research for your self instead to intoxicate us with stupid questions.

  • @cookidhughlol
    @cookidhughlol 4 года назад +1

    im sales assitant in jinling this helps me alot for writing a shittin report

  • @harinagendran
    @harinagendran 5 лет назад +1

    Thank you its been very helpful

  • @deantan4080
    @deantan4080 5 лет назад +1

    So what is the insight? I charge 110 dollars everyday?

    • @hotelrevenueman5708
      @hotelrevenueman5708  5 лет назад

      Dean, I'll show you a few simple principles that will increase your revenue significantly. Email me at Chris@HotelRevenueMan.com and we'll schedule a free 1 hour call. I'll show you how to lower your rates on days of low demand to increase bookings, and how to raise your rates during times of high demand to increase profit. Thanks for the comment!

  • @Jiggz9
    @Jiggz9 7 лет назад +1

    Wouldn't operating cost increase as occupancy also increases? Because now you are using more wages to clean rooms, guests might eat more breakfast, and more utilities are being used.....

    • @Jiggz9
      @Jiggz9 7 лет назад +3

      Fixed costs wouldn't change but variable costs would certainly increase as occupancy increases

    • @hotelrevenueman5708
      @hotelrevenueman5708  7 лет назад +1

      You're exactly correct.

    • @anitashrestha701
      @anitashrestha701 5 лет назад

      Great

  • @david-barna
    @david-barna 4 года назад +1

    But what about our cows?

  • @nicolasmartin7661
    @nicolasmartin7661 7 лет назад +2

    I need you in my team...now

    • @hotelrevenueman5708
      @hotelrevenueman5708  6 лет назад

      Send me an email and I'll be happy to correspond with you. You can find contact info at www.HotelRevenueMan.com. Thanks for the comment!

  • @mwm6991
    @mwm6991 2 года назад

    😍😍😍

  • @samerbeirut4375
    @samerbeirut4375 6 лет назад +1

    That is good for beginners. But in real life you should consider RevPar and not heads in beds

    • @ninokharebava9821
      @ninokharebava9821 5 лет назад +1

      What is RevPar?

    • @hotelrevenueman5708
      @hotelrevenueman5708  5 лет назад

      @@ninokharebava9821 Nino, check my videos. I made a video explaining what RevPAR is and how to calculate and use it.

  • @Drummakann
    @Drummakann 6 лет назад +3

    You are not getting in the cost of your empty room

    • @goforce4057
      @goforce4057 6 лет назад +2

      George Losekann right as the profit was calculated on the occupied rooms basic. But empty rooms get theire cost too. This makes confusion

    • @hotelrevenueman5708
      @hotelrevenueman5708  6 лет назад

      @@goforce4057 You and George are right. My most popular video deals with how much it costs to put someone in a room and at the 2:20 mark I reference the fact that the most expensive cost to hotels is rooms that set empty. But, there is a point where you are getting so little for a room that it's better to have a room sit empty. You can see the video here: ruclips.net/video/EjyLcwUyNtE/видео.html. Let me know what you think. Thanks for your comments!

  • @alanhall8154
    @alanhall8154 Год назад

    This video you show $20 expense per rented room. Shouldn’t have been $20 per room (100 rooms). Because of fixed cost like electricity, water, tv cable etc.

  • @pmtBro
    @pmtBro 5 лет назад

    PlazaYou should come to Ecuador at Wyndham Sail Hotel in Manta. These guys don't know anything about hotel revenue managment they are in the RED everyday. Pretty much broke because nobody here knows anything about the hotel business.

    • @hotelrevenueman5708
      @hotelrevenueman5708  5 лет назад

      I have multiple international clients. Have them email me at Chris@HotelRevenueMan.com and I'll correspond with them. Thanks for the comment!

  • @noemequiampao7361
    @noemequiampao7361 7 месяцев назад +1

    Hello sir, helpful videis! Im struggling on forecasting😊, May I email you sir please