first REVPAR targets for June have been achieved already ... nice work team !
10
Nov
Demand Calendar - Hotel Revenue Management Tool
It is the first Step before budgeting. It is a yearly Map to know your past and future demand: think of showing on a same document historical and future events.
Recognize all events that impact your demand. Positive or negative demand generators must be recognized. Once updated, a demand calendar should not sleep. It should be updated every time you identify an event impacting your demand… that means one update a week at least!
The demand calendar will help to evaluate how much revenue each event brings.
Take a look at an example here: demand calendar
We also have to take into consideration demand exceptions. An exception applies to the behavior of one segment which is not normal i.e. much more corporate bookings than usual on two days, or much less tour operator bookings than usual. Can you identify in advance exceptions today? Find ways to identify them and record them on your demand calendar (ideally with the reason). That is the first step to build your future day by day budget. Will the exception or event repeat or not?
For more information on hotel yield and revenue management click here: hotel revenue management.
The demand calendar will help to evaluate how much revenue each event brings.
Take a look at an example here: demand calendar
We also have to take into consideration demand exceptions. An exception applies to the behavior of one segment which is not normal i.e. much more corporate bookings than usual on two days, or much less tour operator bookings than usual. Can you identify in advance exceptions today? Find ways to identify them and record them on your demand calendar (ideally with the reason). That is the first step to build your future day by day budget. Will the exception or event repeat or not?
For more information on hotel yield and revenue management click here: hotel revenue management.
Cheers,
Patrick - Xotels
