Hotel catering revenue management

Revenue Management: Maximizing Hotel Revenue Effectively

Because the hotel has western food, Chinese food, flavor restaurant, banquet hall, large seafood city and so on. The calculation is complicated, but because the calculation of hotel rooms is relatively simple and the data is accurate, it can be multiplied by a certain coefficient on the basis of annual room rental income in actual calculation. According to the survey, the coefficient of four-star hotels in Shanghai is about 0.9- 1.0.

Annual catering income = annual rental income × coefficient

Present situation of hotel revenue management

According to the American Wall Street Journal, price and income management will be one of the most important marginal industries with the highest rate of return in 2 1 century. In the hotel industry, due to the great influence of revenue management system on the company's decision-making and profitability, the management of many famous hotel groups in the world, especially the major hotel groups in Europe and America, attach great importance to revenue management, set up special revenue management departments one after another, and equipped with computer systems that can analyze a large number of data and optimize them in real time. These systems are connected with the hotel's front desk system, pre-sale system and database, which provide multifunctional and fast decision-making assistance for hotel management, and make the hotel change from passive management to active control, thus gaining the first opportunity in market competition. Mr Willard marriott, Jr., Chairman and CEO of Marriott Group, the largest hotel group in the United States, believes that "revenue management must start from the top of the hotel, the CEO needs 100% support for this work, and all employees must understand its functions". Mr. marriott's words not only illustrate the importance of revenue management, but also put forward a very important point, that is, revenue management can only be successful with the participation and efforts of the whole company. According to the author's many years' experience in consulting and developing revenue management systems for many large hotels, since revenue management is the product of highly combining computer intelligence with human experience, a successful revenue management is a comprehensive result including system functions, staff quality, rules and regulations and other factors. In many cases, the intervention, support and establishment of a perfect management framework of hotel executives are the basis to ensure the effective work of the system. In this regard, the author will write another article.

With the deepening and understanding of users' system functions, managers and management systems can fully interact and complement each other, organically combine the objective accuracy of machines with people's flexible response to emergencies, and further expand benefits. According to the statistics of some hotels in the United States that conduct revenue management all the year round, price and revenue management has now become the biggest means of profit growth.