lundi 25 février 2013

Reputation drives revenue

1) What is the relationship between QGI and revenue gains?
QGI = Quality Generation Index. If you improve your reputation online, your revenue will grow proportionally. 

The performance of a company will be measured according to its reputation online and its impact on the customers' decision to purchase or not. There is a great impact of online reputation upon performance (in terms of demand (occupancy), pricing power (ADR) and performance (RevPar) and so on). 
It was proved thanks to several studies (like with Travelocity for instance).

2) What person/position, in the hotel, is responsible for analysis of pricing changes based on quality index changes?

Rerservation Manager in Generation 1
Generation 2 Revenue Managers were more sophisticated (more tools, more education, more possibilities with new technologies)
Revenue manager in Generation 3 creates strategic pricing programs in order to optimize prices' offers for hotel customers. It combines all the elements of Generation 2, and then it adds online marketing and sales.

3) What new measurement will be used to measure quality scores to revenue performance?
Quality Penetration Index (QPI): 
Global Revenue Index - My hotel / Average Global Review Index - Competitive Set
It is a very important tool to control an hotel competitive set.
Unlike QPI, other traditional tools are available, like RGI (Revenue Generation Index) for RevPar index and MPI (Market Penetration Index) for Occupancy Index.
The new measurement tool takes the competition into consideration in its calculations.

4) Is ORM the Revenue Maximization of the future?
Yes, from my point of view the online optimization of Revenue Management represents Revenue Maximization of the future because tomorrow everything will be put online, especially in the hotel industry. We have to offer the best price at the best moment to the best segment of customer. Thanks to ORM Revenue Managers and hotel General Managers will be able to increase the company's turnover and improving the company's online reputation will help them to control competition.

This Webseminar is well-structured and well-organized. The participants are experts and have deep knowledge in terms of revenue management optimization and reputation management.

Aucun commentaire:

Enregistrer un commentaire