My Takeaways

I found this course to be very intriguing and I have definitely learned a lot this semester. This blog post will deal with the top three takeaways from this class that I have. 

1.)    Revenue Management. Coming into this course, I had no idea that revenue management was more than simply writing and analyzing an Income Statement or Balance Sheet. However, revenue management effectively focuses on every aspect of the business. One of the points in the slides is that “Revenue management is about selling the right product, at the right time, at the right price, through the right channel”. This has such an impact on hotels because they constantly need to be charging different room rates to different customers for various reasons.

2.)    The second takeaway that I have from this course is from the Ritz-Carlton case. It really showed me the importance of not only treating your guests in the best possible manner, but to also treat your employees the best way you can. The Ritz slogan “We are Ladies and Gentleman serving Ladies and Gentleman” embodies this. Many of the Ritz-Carlton employees are very dedicated to not only the industry, but the company specifically because of this idea.

3.)    Lastly, my third takeaway from this class is from my informational interview. I interviewed Nery Lopez, the Operations Manager at the Courtyard Marriott and I found this interview to only push forward my desire to work in the hotel industry. He showed to me that hard work is appreciated in this industry and that there is so much room in growth in hotel management, from food and beverage, rooms, housekeeping, events, etc.

Visualization of Revenue Management

-Jordan F.