Explore tens of thousands of sets crafted by our community.
Revenue Management Case Studies
12
Flashcards
0/12
The Hudson Hotel Price Optimization
The Hudson Hotel implemented a dynamic pricing strategy using historical data and predictive analytics to optimize room rates. The revenue per available room (RevPAR) increased significantly while maintaining a high occupancy rate.
The Ritz-Carlton's Demand Forecasting
The Ritz-Carlton used advanced demand forecasting models to anticipate customer demand and adjust pricing accordingly. The hotel saw improved room rates and better inventory management during peak periods.
MGM Grand's Segment-Based Pricing
MGM Grand Hotel employed segment-based pricing, tailoring room rates based on customer segments and booking behaviors. The result was a significant improvement in targeted marketing efforts and revenue growth.
Oasis Resort's Overbooking Strategy
Oasis Resort implemented an overbooking strategy to compensate for no-shows. They utilized customer behavior data and statistical models to determine the optimal overbooking level, which led to reduced vacancy rates and increased revenues.
InterContinental's Length-of-Stay Requirements
InterContinental Hotels Group employed minimum length-of-stay requirements during high-demand periods to maximize revenue. This policy helped in reducing turnover costs and increased average daily rates.
Marriott's Revenue Management System
Marriott International developed a proprietary revenue management system called MARSHA that evaluates booking patterns and sets prices accordingly. It provided a granular control over pricing and inventory, leading to revenue uplift.
JetBlue's Fare Options
JetBlue Airways introduced tiered fare options providing varying levels of amenities and flexibility. This strategy maximized revenue by attracting different customer segments and optimizing ancillary sales.
Hilton's Pricing Optimization
Hilton Worldwide Holdings implemented a pricing optimization strategy that adapted to real-time market conditions and competitive pricing. The outcome was improved profitability and increased market share.
Six Flags Dynamic Ticket Pricing
Six Flags Entertainment Corporation adopted dynamic ticket pricing based on demand, day of the week, and weather forecasts. This allowed for optimal pricing and the promotion of off-peak attendance, thus evening out park utilization and growing overall revenue.
Carnival Cruise Line's Early Saver Rate
Carnival Cruise Line introduced an Early Saver Rate, offering discounts to customers who book early, combined with a price protection guarantee. This approach boosted early bookings significantly, improving cash flow and forecast accuracy.
Disney's Variable Pricing for Theme Parks
Disney implemented variable pricing for its theme parks, adjusting ticket prices based on the time of year and expected attendance. This strategy helped manage crowd sizes and maximized profits from park operations.
Wynn Las Vegas' Revenue Management Tactics
Wynn Las Vegas applied a set of revenue management tactics, including cross-property revenue analysis and personalized offers to guests. The hotel saw an increase in guest spend and loyalty, leading to overall growth in revenue.
© Hypatia.Tech. 2024 All rights reserved.