A better standard: Setting revenue management SOPs in Indonesian hotels

To create effective market analysis SOPs, hoteliers need to research or update their competitor information—including a review of their competitor set. A market analysis should also include a report on the local market conditions (supply and demand, GDP growth, inflations, key industry news) to assist with ongoing budgeting processes. Hoteliers should also develop a SWOT analysis for their property and local competitors to help define their market positioning.



A better standard: Setting revenue management SOPs in Indonesian hotels

Written by - Rachel Grier, Area Vice President, Asia Pacific for IDeaS


Many Indonesian hotels practice check-in standard operating procedures (SOPs) to support positive guest experiences and review scores. However, while SOPs are often used in front-of-house environments, they are still not commonly deployed in an area critical to a property’s financial performance: the revenue management department.

There is a distinct need for independent hoteliers across the region to establish and deploy SOPs for their revenue management departments to enhance overall staff and property performance. Revenue management SOPs can help key personnel maximise revenue opportunities for a hotel and assist new staff to better understand the hotel’s positioning, market segmentation, pricing structure, inventory and forecasts. But what SOPs are critical to a revenue manager today?

Market Analysis:
Market analysis SOPs are vital in helping hotels assess their own performance within their local operating environment. Collecting market intelligence to understand the market positioning of a property is one of the first steps in the practice of revenue management. The data gathered from market analysis SOPs help define a hotel’s benchmark rate within its wider pricing environment and inform its marketing strategies.

To create effective market analysis SOPs, hoteliers need to research or update their competitor information—including a review of their competitor set. A market analysis should also include a report on the local market conditions (supply and demand, GDP growth, inflations, key industry news) to assist with ongoing budgeting processes. Hoteliers should also develop a SWOT analysis for their property and local competitors to help define their market positioning.

Forecasting:
Accurate forecasts can be instrumental for planning inventory and staffing levels. If an Indonesian hotel can anticipate demand, it can have the right levels of staff working at the right times, even down to forecasting peak check-in and check-out times.

For hoteliers without a sophisticated revenue management system (RMS) in place, forecasting SOPs are critical to ongoing operations. To establish forecasting SOPs, a hotel should collect and compare the current and previous years’ market segment data, room-type preference data and booking pace.

Other logistical considerations include the level of forecast detail (is it by day, by market segments, or by room type?), how far into the future to forecast and how often to review the forecast. For hotels that have deployed an advanced RMS, forecasting is a straightforward matter and SOPs mainly need to focus on how to validate the forecast generated by the system to ensure that optimal best available rate (BAR) is selected.

Pricing:
Pricing SOPs are critical to any hotel’s ability to operate successfully. These commonly include guidelines and rationales around how to develop pricing structures by market segments, which ensures all revenue opportunities are maximised. Pricing SOPs can influence BAR, packages, corporate rates, wholesale rates, group rates and daily BAR rate review and changes. For hoteliers using an RMS, BAR recommendations will be provided daily for the next 365 days, and the rates are automatically uploaded to various distribution channels. This means the revenue manager’s role and corresponding SOPs are focused on reviewing and validating BAR recommendations made by the system.

Revenue Management Meetings:
Revenue management is the combination of people, processes and technology, and today’s revenue managers are key collaborators that link marketing, sales, reservations and e-commerce divisions within a property. Although many hoteliers understand the importance of having a formalised revenue management process and culture in place within their organisations, many others in different departments do not. To drive profitability across the entire organisation, revenue managers must work closely with all executives to build and instil a strong culture of revenue management.

Regularly staged revenue meetings are a good platform to align the objectives and strategies among key department heads in the hotel. Revenue meeting SOPs should outline the extended revenue management team, attendees of revenue meetings, decision makers and team leader (normally a revenue manager or sales leader), along with topics to be reviewed and reports to be used to benchmark results.

SOPs Support Revenue Generating Activities
SOPs for common revenue management tasks such as market segmentation, forecasting, pricing and market analysis are critically important to Indonesian hoteliers today. SOPs support the ongoing function of revenue managers, enabling them to concentrate on targeting the right guest at the right time for the right price—and maximising revenue opportunities for their hotel.


For more information on this topic, or how hoteliers can maximise revenue opportunities through adopting an RMS, please visit: www.ideas.com


#hotelier #hotelierindo #indonesia #hospitalityjobs #hotelierindonesia #hotjobs #hotel #job #loker #lowongan #HotelCareer #Jobs #JobsNews #CareerInHotels #lowongankerja #Bali #Jakarta #othercities #middleeast #asia #hiring #work #tourism #sector #industry #staff #hospitalityindustry #chef #manager #team #jobopening #management #hospitalitysector #instajobs #instahiring #instajob #instawork #instabusiness


Name

2016,3,2017,102,2018,124,2019,56,AAE,1,ACCESS,35,AccorHotels,2,Address1-10 Futagoyama,1,ADR,1,Advertorial,7,Agostinis,1,Agro foods,1,Alaya,1,Alibaba Group,1,alila,2,Alila Jabal Akhdar,2,ALOS,1,America European,1,Ammenities,2,Ancol Timur,1,Appointment,25,Apps,1,April,5,AQUA Reflections,1,architects,7,Area Austria,1,Area New Zealand,1,Area Russian Federation,1,Area Serbia,1,Armstrong Ceilings,1,Art and Culture,1,Arthur Waller,1,Asia,4,Asia Pacific,4,Asian Attractions Expo 2017,1,Asian Region,2,August,3,Australia,2,Aviary Bintaro,1,Award,22,Back Of House,4,Bahasa,3,Bakery amp; Pastry,3,Bali,16,Bali Resort,1,Bar,2,Bar amp; Restaurant,5,Base Ethernet,1,Batam,1,Beach Resort,1,Bed,1,Bedok North Street,1,Beepee Group,1,BELGIUM,1,Best Content,1,Beyond Expectation,1,BID,1,Bintan,1,BLLA,4,BMW,1,Booking,8,Bormioli Rocco,1,Boutique Hotel,2,Boxing City,1,Brand Story,1,Bricscad Pro V13,1,Brunei,2,Bulgari,1,Bulgaria,1,Business,96,Bypass Ngurah Rai,1,Cafe and bars,1,Cala Trading Estate,1,cambodia,2,Cambro Contact,1,Cambro Manufacturing,1,Canberra,1,Channel Management,1,charity,1,Chef,1,CHEF ALEX ENSOR,1,Chicken Mushroom Potess,1,Chief Operating Officer,1,Child Proof,1,China,3,China's Wine List of the Year Awards 2017,1,CHOCOLATE,1,Client,11,Club Management,2,COATINGS,1,Commercial Refrigeration Equipment,1,Company Fact Sheet,1,Component Hardware Europe,1,Component Hardware Headquarters,1,Conde House,1,Conference,1,Consumer Goods,1,Contact Info,1,Contact Us,2,CONTACTS,1,Cost,1,Courtyard,1,Craig Francis,1,CRS,2,CSR,2,Current Day,1,Czech Republic,1,Daniel Domènech,1,Data,1,DECORATIONS,1,Decorative arts,1,Design Bathroom Equipment,1,design hotel,4,DESKLINE,1,Doma,1,Double Tree,1,Dubai,2,Electric Ave,1,Email Serv,1,Email Us,1,Equipment,11,Estella Hale,1,Ethics,1,Europe,3,Events,69,Executives Chef,2,Exhibitions,2,Expo,1,Feature Supplier,37,February,13,FEI,1,Festive,2,FILLINGS,1,Finance,1,Fine Food Asia (SFFA),1,FITUR,1,Flexibility Able,1,Foaming Injection Machines,1,Fonterra Indonesia,1,FOOD,18,Food Beverage,6,Food Services,1,Foodservice Equipment International,1,Four Seasons Jimbaran Bay,1,France,2,Fullerton Road,1,Furniture,1,Gandum Mas Kencana,1,Ganpatrao Kadam Marg,1,Garuda Indonesia,1,General Inquiries Email,1,Genesio Bravo,1,GEPOSB,1,Germany,2,Ghana,1,Giuseppe Bravo,1,Glass Design- Italy,1,Global,3,GMP,1,Golf,1,Golf Management,1,Golf Software,1,Golf Technologies,1,Green Solutions,1,Greg Berman,1,Gregory Bluvstein,1,Guangdong Province,1,Guangzhou City Zip,1,Guest Room Items,1,Guest Score,1,Gunung Agung,1,HAACP,1,HAFI,1,Hainfeld Traisnerstra,1,Halal,1,Head Office,1,Hecun Industry Zone,1,Hengel Industrie,1,Hengel Japan Co,1,HICAP,1,Hilton,3,Hong Kong,1,Horwarthhtl,6,Hospitality,8,Hot Design,1,Hot Education,2,Hot Flag Carrier,2,Hot Interview,6,Hot News,267,Hot Team,5,HotEdu,1,Hotel,10,Hotel Activities,1,Hotel Deals,3,Hotel Equipment,2,hotel indigo,1,Hotel Job,11,Hotel Management,1,Hotel Restaurant Cafe,1,Hotel Software,31,Hotel Solution,14,Hotelier Indonesia,3,hotels,3,Hotels with great design,1,Housekeeping,1,Huntington Beach,1,IDEaS,6,IHG,1,IME,1,India,2,Indonesia,3,Indonesia Hotel Supplier,5,Intercontinental Bali,1,Interior Design,1,ISO,2,Italy,4,Jakarta Utara,1,Jakim Halal,1,Japan,2,Japanese Occupation,1,Jobs,12,July,2,June,5,KARMA,3,Keil Refrigeration,1,KFC,1,Korea,2,Kuala Lumpur,1,Largest Inventory,1,Laser Cutting Machine,1,Laundry,1,Laurie Mowchan,1,Life Style Exhibition,1,LINAK,1,Linen,1,LIVE,1,Lombok,1,London,1,LTD,1,Luxury resort,2,luxury villas,1,Macau,1,Main Office,1,Maldives,1,Malibu,1,Management,2,Mandarin Oriental,1,Marcel Bluvstein,1,March,7,Market Leader,1,Marriot International,4,Marriott,1,MARRIOTT SIEM REAP RESORT,1,May,5,Mayonnaise Salad Dressing,1,Mediterenean Beef Shortribs,1,MEICHU,1,MICE,1,Michelin star dining,1,Middle East,1,Minoan. Crete,1,Mobile Phone,1,Montecchio Maggiore Vicenza,1,Moroccan Beef,1,Moroccan Chicken,1,Moroccan Lamb Shank,1,Moroccan Short Ribs,1,movenpick,1,MSN,1,Mulia Boga Raya,1,music,2,Name Haoyuan Outdoor,1,New,1,New Hotel,1,New resort,1,New Year,1,New York,1,Nikko,1,Nikko Bali,1,Nogarole Vicentino,1,North America,1,November,3,Nowadays Gandummas,1,NSW,1,NYC,2,NYE,1,NZ,1,October,1,OEM,1,One Fullerton,1,Online Store,1,Opening,26,Operations,1,Outsource,1,PACKAGING,1,Pangeran Jayakarta,1,Panyu District,1,Park Hotel Group,1,Park Hotel Nusa Dua,1,PCL,1,Penang,1,Pharma Glass,1,PHARMACEUTICAL,1,Pharmaceutical Glass Plastic,1,Pharmaceutical Plastic,1,PHBV,1,PLA,1,Plataran Indonesia,1,Prambanan Kencana,1,Prego,1,Pricing Power,1,PROCHIZ,1,Promo,53,PT,5,Pub,1,Pub & Bar Asia (RPB Asia),1,Pure Origin,1,Quasar Group,1,Radford Road,1,Regd Office,1,Report,20,resorts,3,Restaurant,3,Resto,1,Revenue,19,REVPAR,2,Rising Star,1,Room,1,Sambonet Company,1,Sanchaya,1,Seminyak,1,seminyak beach,1,September,12,Sesame Oil Products,1,Shah Alam,1,Shenzen,1,Sheraton,1,Shipping Times,1,SHR,5,Simpang Siur,1,Sinar Himalaya,1,Singapore,7,Singapore Basins,1,Skylab Road,1,Soft Ice Cream,1,Solo,1,sommeliers,1,Sound,1,South America,1,South Korea,1,Spa,1,spa resort,1,Specialty Coffee amp; Tea,1,St Regist Bali,1,St. Regis Langkawi,1,Stefano Bravo,1,STR,1,STR Global,6,Subscribe,1,Summer Holidays,1,Supplier,12,Surabaya,2,Swarthmore Avenue,1,Swiss-Bellhotel,1,Sydney Head Office,1,Tabloid,2,Tagore Drive,1,Tambourine,1,Tamper Evident,1,Technology,45,Terrace amp; Outdoor,2,Thailand,1,The Shilla Jeju,1,The Westin Resort Nusa Dua,6,Today La Tavola,1,Tokyo,1,Tourism,3,Tours,1,Travel,6,Travel Fair,2,turkey,1,Twisted Pair,1,UAE,1,UCLA,1,UK,1,United States,1,Universal Coolers Inc,1,US,1,USA,1,VAT,1,VELADA TAPAS BAR & KITCHEN,1,Venezia,1,VHS,1,Via Lago,1,Via Pietro Micca,1,VIDEO,20,villa,1,VistaJet,1,Webinar,3,wellness,4,Westfood Caf,1,Westin Bali,2,Windsurfer,1,Wine,1,Wooloomooloo,1,World Refrigeration,1,XML,1,Yan Toh Heen,1,Yogyakarta,2,Zig Bee,1,
ltr
item
Hotelier Indonesia News: A better standard: Setting revenue management SOPs in Indonesian hotels
A better standard: Setting revenue management SOPs in Indonesian hotels
To create effective market analysis SOPs, hoteliers need to research or update their competitor information—including a review of their competitor set. A market analysis should also include a report on the local market conditions (supply and demand, GDP growth, inflations, key industry news) to assist with ongoing budgeting processes. Hoteliers should also develop a SWOT analysis for their property and local competitors to help define their market positioning.
https://1.bp.blogspot.com/-dng6x5Hx3vQ/XduCp7p9nwI/AAAAAAAAWAc/xpSmEfJ3eiQTkphWe5hLJc1ig4dafai1ACLcBGAsYHQ/s1600/hotel.webp
https://1.bp.blogspot.com/-dng6x5Hx3vQ/XduCp7p9nwI/AAAAAAAAWAc/xpSmEfJ3eiQTkphWe5hLJc1ig4dafai1ACLcBGAsYHQ/s72-c/hotel.webp
Hotelier Indonesia News
https://news.hotelier-indonesia.com/2019/11/a-better-standard-setting-revenue.html
https://news.hotelier-indonesia.com/
https://news.hotelier-indonesia.com/
https://news.hotelier-indonesia.com/2019/11/a-better-standard-setting-revenue.html
true
7879233987239775271
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy