The session began with an introduction of Mr. Sandeep Joshi, General
Manager, Fortune Excallbur, Gurgaon. Mr.Joshi gave a broad understanding to
students discussing in detail about the background and also discussed the
future plans of ‘Fortune Excallibur, Gurgaon’.
The students were also given a brief outline on the concept of Revenue Management
and how hotels today are focusing on BAR and dynamic pricing. They were told
about that business today is all about speculation basis the market, segment
and events. They were introduced to two tiers and three tier pricing system
which was of great value addition to INLEADers.
The session covered the lay man concept of Revenue Management. The topics
covered in the session were demand based pricing, how dynamic is revenue management,
strategic decision. The lecture gave them insights into the following facts:
your market and competition
point of guest contact is an opportunity for revenue management
managers today works with reservations, Front Office and F&B Service
Management is based on Price and Segment dynamics
dynamics are based on- service quality, location, brand, quality and amenities.
Special Potential Average Room Rate and how it is derived through a simple case
Anil Bhore, student pursuing International Hotel Management Batch:
Oct’13 MBA (L) says, “The lecture gave me an insight into Revenue Management,
which I found very knowledgeable. What it also taught me was to be passionate
about the work.”
Ravi Prakash, student of International Hotel Management Batch: Jan’14 1st
Year says. “The lecture included advanced knowledge of Revenue Management in a
basic layman language focusing on the Hotel Industry.” Keep watching this space for more
information on various expert lectures held at INLEAD.