Conference and Events
For many hospitality organisations the most overlooked opportunity is the deployment of a revenue management culture within the conference and events team. In recent years the development of total revenue management has encouraged the growth of Revenue Management within this key area of the business. In conference and events this can be applied through a variety of techniques including but not limited to:
| Understanding Demand | Market Segmentation, Group Mix, Forecasting, Product Packaging |
| Creating Demand | The Sales Cycle, Lead Times, Group Pricing Strategies, Effective Upselling and Enquiry Handling |
| Managing Demand | Diary Management, Demand Calendars, Delegate Density, Competitive Positioning, Impact of Transient business, Displacement Analysis |
| Technology Capabilities | Maximising Functionality and maintaining System Integrity |
| Distribution Opportunities | Effective use of Intermediaries and Travel Management Companies |
| Monitoring Performance | Market Intelligence, Business Intelligence (RM Metrics for C&E) |
"The greatest challenge to any thinker is stating the problem in a way that will allow a solution."
"Focus 90% of your time on solutions and only 10% of your time on problems."
"Within the problem lies the solution."
"Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it."
"To solve any problem, here are three questions to ask yourself: First, what could I do? Second, what could I read? And third, who could I ask?"
"An undefined problem has an infinite number of solutions."
"Believe it can be done. When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to solution."
"You won't find a solution by saying there is no problem."
"It is a commonplace of modern technology that problems have solutions before there is knowledge of how they are to be solved."