This Week in Consulting

Wednesday, June 26th, 2019

The Future of Revenue Management equals Total Revenue Management.

THIS WEEK’S MUST READ

“Total Revenue Management is a much-discussed concept in hospitality, but in reality, it has produced a great deal of confusion. Put simply, it is the revenue management of all revenue sources in a hotel.”

The starting point to optimizing your revenue management system is a thorough review of your revenue sources. What metrics did you put in place to track your revenues? Are you staying current on the latest industry developments?

This Week’s Must Read is an insight piece from Patrick Landman, Xotels who conduce you on a reflection on how to maximize all your revenue streams, develop a company-wide total revenue management culture and optimize guest spend.

Read on to Find out More: “The Future of Revenue Management equal Total Revenue Management


Receive "This Week in
Consulting" in your
Mailbox

Please complete this form to create an account, receive email updates and much more.
 
 
*
*Required Fields
Note: It is our responsibility to protect your privacy and we guarantee that your email address will be completely confidential.

THIS WEEK’S VIDEO:

As Sherri Kimes discusses, pricing has changed over the years—it’s become an even more an integral and analytical part of revenue management.

THOUGHT LEADERSHIP

  • Yield Management In the Airline Industry– “The concepts of yield management in the airline industry are known to have an impact on customer feelings of price fairness and it also affects customer loyalty.” If you ever wondered what yield management was and how it works, this article is made for you.  | Travel, Technology & Solutions
  • How to Calculate Willingness to Pay and use it to inform Subscription Pricing– Willingness to pay (WTP) is a concept taught in every business school. But it gets often confused with the willingness to accept (WTA), even though they are significantly different metrics. “Knowing what your customers are willing to pay for your product or service is necessary to build an effective and competitive pricing strategy. Without this information, you’re simply guessing.” This article explores how to use WTP to your advantage and gives practical examples showing how companies can use WTP. | Patrick Campbell, ProfitWell
  • Enterprise Value of Pricing® (EVP): New Metric to Explain the value created through Pricing Achievements to Financial Analysts– “Until now, even the best of equity stories have failed to include one meaningful indicator for pricing.” Simon-Kucher introduces a new approach inspired by the Gordon Growth model (that values a company’s stock value). It is an interesting reconciliation of pricing and market value.  | Kai Bandilla, Simon-Kucher & Partners
  • Price Increase Letter: How To Explain Price Increases To Costumers?– Increasing prices every year is not an easy exercise. It is not enough to define the right pricing, you should also communicate the rationale to your clients. “If your customers don’t understand (or have forgotten temporarily) the value you deliver them; then they will not take a price rise well – even if you have a well-crafted price rise letter.” The article presents how to increase your price in a mature market using a real-life example.  | Taylor Wells
  • Rethinking Pricing Strategies in Commoditized Markets:Network-based Best Alternative Pricing-Companies are now rethinking many of their core business processes including pricing, capacity, network footprint, product mix, channel priorities, capital investment and production levels. L.E.K.’s NBBA’s pricing approach can help accelerate margin recovery and position your company to realize the maximum benefits in a growing market.  | L.E.K. Consulting

CONSULTING INDUSTRY NEWS

DIRECTORY

The Consulting Quest Global Directory is the largest professionally-managed directory in the consulting industry. Searchable by consultancy , name or by region, capability or industry it lists and describes more than 6000 consultancies worldwide with links to their websites and social media channels.

 

 

Interested in submitting?

If you are interested in submitting an article, an event or an ad, contact us!

CONSULTING SOURCING TIPS

[pt_view id="02383d79ir"]

About Consulting Quest

Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.

[et_social_follow icon_style=”slide” icon_shape=”circle” icons_location=”top” col_number=”auto” total=”true” outer_color=”dark”]

CEO and Co-Founder at | Website | + posts

Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.

SHARE:
What You Need to Know About Crisis Management in 2023 | This Week in Consulting
What You Need to Know About Crisis Management in 2023 | This Week in Consulting
In this issue of This Week in Consulting, we explore various aspects of crisis management, from using simulation to preparing for crises to organizing communication. We also look at how to involve the key stakeholders, some best practices from a leadership standpoint, and how to flip the script and in some cases turn the crisis into an opportunity.
Hospitality Industry 2023: Discover What’s In Store! | This Week in Consulting
Hospitality Industry 2023: Discover What’s In Store! | This Week in Consulting
In this issue of This Week in Consulting, we explore key trends shaping the future of hospitality, which promise to be quite exciting on all these fronts.
Best Practices for Organization & Governance in 2023 | This Week in Consulting
Best Practices for Organization & Governance in 2023 | This Week in Consulting
In this issue of This Week in Consulting we explore good practices to make the matrix work, how to change behaviors, how to define and embed values, how to avoid losing momentum during aa reorganization and how organization design can make or break a deal.
Get Better Every Day. Let’s Do it With Improveo

Explore Best-in-Class Thought Leadership, Find Consultants and Solutions Providers, Network with Other Professionals 

All at once place

Come, join the tribe of improvers!