Revenue Management in Hospitality Assignment Example | Topics and Well Written Essays - 4250 words

Revenue Management in Hospitality - Assignment Example YM majorly focuses on revenue generation and management by emphasizing the concept of ‘4 C’s’, comprising Calendar, Clock, Capacity and Cost associated with forecasting of demand. From the provided case study, it has been identified that Aldermar Resorts & Spas is a premium and luxurious family run company that specializes in the hotel industry and is located in Greece. The business is recognised to be facing a number of problems associated with fluctuations in demand patterns. Hence, the operation management consultant is to concentrate on the development of an YM strategy that would replace the existing strategy used by the company in order to ensure effectiveness and success of the YM performance in the business operations. The report would outline the importance and applicability of YM in enhancement of performance and would assess the impact of CRM integration in YM. Furthermore, the report would concentrate on discussion of the various job roles that must be adhered by the staff members concerned with the implementation of YM. Moreover, the report would examine the strategies that can be used by Aldermar Resorts & Spas to enhance performance and mitigat e the problems. Finally, the report would disclose a number of YM metrics that the firm needs to consider for performance assessment and generation of higher revenues. YM is considered as one of the prominent tools to determine the risks associated with decisions taken by the firm to ensure generation of higher performance and revenues in the present as well as future markets. Aldermar Resorts & Spas comprises eight properties that have a distinct client mix including conference guests, individual clients and tour operators. Each of the eight properties is concerned with application of a unique product mix, which assures successful application of the YM strategy with due consideration to the available resources. The problem of high fluctuations