1.ARI **erage rate index
It refers to the average room rate in the market.
It is calculated as follows: Average Hotel Room Rate Market Average Room Rate.
Note: Market average room rate = total room revenue for all competing hotels.
2.CTP Contribution to Trading Profit
The calculation formula is: IHG operating profit contribution = IHG management fee + IHG incentive management fee.
IHG Management Fee = Total Hotel Revenue * Contracted Ratio.
IHG Rewards Management Fee = Hotel GOP * Contracted Ratio.
3.GOP gross operating profit
Calculation formula: the total operating gross profit of each production and business department of the hotel (including room, F&B and other) - the total cost of non-business departments (including A&G, S&M, engineering and energy).
Operating gross profit of each production and sales department = revenue - direct costs - operating expenses.
4.Revpar revenue per **ailable room
The formula is: revpar= total room revTotal room revenue.
total **ailable room.
5.RGI Revenue Generation Index
The formula is: RGI = Hotel RevPAR (Average Revenue per Available Room).
The market's RevPAR (Market's Revenue per Sale).
Market Revpar = Sum of all hotel room revenues.
The total number of available rooms for sale across all hotels.
part 1A noun for hotel basics
As a hotel marketer, you will use these industry terms both at work and in meetings:
Adjacent Rooms:The two rooms are nearly connected;
Connecting rooms: Refers to a room in which two rooms are connected by a door in between.
Preview lockdown:It refers to the pre-sale of a room by locking it on a certain day in advance so that it is displayed as occupied during that time period in order to keep it.
Pre-departure did not leave the room: A room is supposed to be available, but the guest still hasn't checked out after the estimated departure time.
Deposit:Payments made in advance to the hotel to ensure a room is available.
Deposit:The front desk requires guests to deposit a certain fee at the hotel, such as cash guarantee, credit card pre-authorization, etc., so as to restrain the guest's behavior from causing damage to their own interests, and if damage is caused, the fee can also be paid or compensated separately.
Evasion:The guest leaves the hotel without paying the bill.
Guaranteed Reservations:Guests provide cash, credit card, company, travel agency, etc. guarantee when making a reservation, and if the guest does not actually check in, the hotel has the right to charge a certain fee to the guarantor or institution.
Welcome Gift:Complimentary gifts such as fruits, flowers, drinks, etc.
Extra Bed:Additional in-room beds are generally charged.
Late check-out:Check-out after the specified check-out time is usually set by the hotel at 12 noon, and additional rent will be charged for overtime check-out, unless approved.
Waitlist:When the hotel rooms are fully booked and cannot accept more reservations, in order to protect the hotel's revenue and meet the needs of customers, new bookings will be placed on the waitlist, and when there is an opportunity, the waitlist guests will be arranged.
Write-off Expenses:If the guest is not satisfied with the service, the hotel will give an appropriate discount or even free of charge.
Hotel self-use room:Generally, it is not rented out to the public, and is mainly used as a guest room for short-term or long-term use by senior management staff of the hotel, a warehouse for a short period of time, or an office.
Package:Includes room rate, meals, or other types of expenses**.
Rack Price:The rack rate published by the hotel, i.e. the original room rate on the rate list.
Long private room:Guests stay in private rooms for a long time.
Actual average home price:The ratio of total room revenue to actual number of rooms rented is calculated as follows: actual average room rate = (total room revenue Number of rooms rented) * 100%.
Company negotiated price:There is an agreement with the hotel that promises to provide the company guests with a specific room**.
Register:Guests do not pay directly after experiencing the various facilities and services of the hotel, but settle the bill together after billing.
Commissions:If a guest makes a reservation through a travel agency or other platform, the hotel needs to pay a certain percentage of the room rate as remuneration to the platform.
Reservation No.:The reservation number refers to the identification code in the hotel front desk system, and the reservation number can accurately query the order record in the system.
Upgrades:The hotel will adjust the room type originally booked by the guest to a higher room type for a fee or free of charge.
Availability:If the room is empty, there are generally two types of rooms: the vacant room is not cleaned and the vacant room is cleaned.
Bad house:Refers to a room that cannot be ** because it needs to be renovated or renovated.
part 2Revenue management terminology
What are the three major indicators of performance in the hotel industry (ADR, OCC, and RevPAR)? Let's find out!
ADR (*ERAGE Daily Rate) – The average rate of rooms sold
Average room rate (ADR) is a widely used metric in the hospitality industry that refers to the average revenue earned from rooms sold on a given day, calculated by dividing the total room revenue for the day by the number of rooms actually sold. ADR is one of the key performance indicators (KPIs) in the hospitality industry.
OCCUPANCY (OCC) – Occupancy rate
Occupancy rate refers to the ratio of the actual number of rooms sold to the number of available rooms in a specific period, which is one of the KPIs of the hotel, and is calculated as the actual number of rooms sold The number of available rooms, for example, a hotel has 100 available rooms, and 100 rooms are actually sold on the same day, then the occupancy rate is 100.
RevPAR (Revenue per **ailable room) – Revenue per available room
RevPAR is a measure of hotel performance used by the hotel industry to provide a more comprehensive picture of a hotel's operating conditions. RevPAR is calculated by multiplying the hotel's average room rate (ADR) by occupancy.
part 3A marketing-specific noun
The connotation of marketing is rich and the system is huge, and many newcomers and even senior marketers in the industry often know a lot of professional terms.
Hotel Marketing:
A series of marketing activities such as marketing strategy formulation, pricing, promotion, and service provision carried out by the hotel to attract target customers are ultimately aimed at making the hotel profitable.
The 4P Marketing Theory
Born in the United States in the 60s of the 20th century, it is a classic marketing theory, which covers 4 basic marketing strategies: product, price, place and promotion.
Products: the characteristics of the hotel's basic products and services;
*: The hotel's strategy, including hotel rates, food and beverages.
Location: "Father of the Hotel" - Ellsworth. "The three key factors to success for any hotel are location, location, location," says Statler. The choice of hotel location has a strong correlation with passenger flow and business performance.
Publicity: including brand promotion (advertising), public relations, promotion, personnel, etc.;
The 4Cs of Marketing Theory
With the increasing competition in the market, the American scholar Robert. Lautland's 4C marketing theory gradually replaced the 4P theory. It is guided by consumer needs and combines four new marketing fundamentals: customer, cost, convenience, and communication.
Compared with the traditional 4Ps, the 4C marketing theory will not only focus on marketing and product sales, but also pay attention to the whole process of communicating with target customers, so it can provide more corporate marketing strategies based on the perspective of consumer behavior.
Market analysis: Analysis of various factors of market supply and demand changes, as well as their dynamics and trends.
Market Research:Using scientific methods, systematically collecting, collating market information and analyzing and evaluating the process of the target market, so as to provide reference for the company's product upgrading, improving user experience, and marketing policy formulation.
Market segmentation
Market segmentation is the process of dividing a target market into subcategories, where a company divides customers into several customer groups based on different characteristics, such as demographics, interests, needs, or location, and each customer group constitutes a sub-market. For example, a hotel can divide its target customers into:
Market segmentation can help enterprises gain an in-depth understanding of user needs in different market segments and formulate differentiated product and service strategies to meet the individual needs of users.
Positioning:
The marketing theory created by the famous American marketing guru Al Rees refers to the development of relevant brand strategies in order to establish a unique brand image in the minds of consumers.
* is the process of convincing potential customers to buy a product, and is generally a short-term strategy to increase sales — rarely used as a marketing strategy to build customer loyalty. For example, the hotel's seasonal**, theme** activities, etc.
Distribution:
According to the definition of the famous marketing master Philip Kotler, the distribution channel or marketing channel refers to the process of transferring a certain commodity or service from the producer to the consumer. All businesses and individuals who take ownership of such goods and services and help transfer ownership.