HRTM 2401 Study Guide - Final Guide: Central Reservation (Album), Jargon, Proactivity

• School: University of Denver
• Department: Hotel, Restaurant, Tourism Mgt
• Course: HRTM 2401
• Professor: Cheri Young

Document Summary

Revenue management selling the right room, at the right price, at the right time to the right customer through the right channel. Objective being able to adapt the price of a service or product based on demand, competition, time, market, and other factors in order to maximize revenue and profits. Goals of revenue management revenue management programs focus on maximizing revenue per available room right, revpar. Key performance indicators select measurements that indicate lasting success. Occupancy demonstrates the efficiency and operational performance of the hotel. The percent of rooms sold during a specific time period. Average daily room rate (adr) a measure of financial performance and profitability. The measure of the average rate paid for rooms during a specific time period. Revenue per available room (revpar) a measure of the revenue generated by a property in terms of each room available. Differs from adr because revpar is affected by the number of unoccupied rooms.