OPERATIONAL YIELD MANAGEMENT
Hospitality Skills provides the sales techniques, such as setting the room rate, the use of the best booking channel, rostering staff to provide the best balance between product and service , with so doing ,improving returns.
Implementation + service + guest satisfaction = Sales
Let us explain:
The hotel employee besides selling the hotel stay also promotes the restaurant, the bar and any other optionals available. By doing so, the employee provides more service to the guest, more so than what would be expected, with only when the guest has left the hotel ‘more than satisfied’ and their ‘sales’ task is done.
Hospitality Skills uses a fine tuned method, to handle revenue management by coupling the guest experience with pricing. This includes not only short, but also long term improvement in the guest experience and maximising the turnover of your company.
- Analyses the current guest experience
- Measures the balance between price/quality
- Calculates the average extras taken per hotel guest based on how they booked
- Investigates your weekly forecast
- Developed and manages your new pricing strategy
- Projects the weekly forecast taking into consideration the results from previous year, future events, general economic developments and reputation management
- The setting up of a development plan for sustainable guest experience and price management.
Yield Management is a method to find the right balance between filling all available capacity while charging the highest rate:
‘Selling the right room, to the right guest, for the right price, for the right length of stay, for the right period, through the right distribution channel, at the right time’
Hospitality Skills adds the following ’credo’ to the whole ‘yeild’ description:
‘Through the right service, by the right people, with the right attitude’
revpar lift in past 2 years