Hotel Front Office Management, 3rd Edition

COMPONENTS OF YIELD MANAGEMENT 173Table 6-4. Turnaway Business ReportDateYield%No. RoomsTurned AwayDollars Lost[@ $95 Rack Rate]May 1 98 35 3,325May 2 96 20 1,900May 3 93 60 5,700May 4 50 90 8,550May 5 50 88 8,360HOSPITALITY PROFILE?Gehret is the director of the hotel by supporting the activities of the sales andDougrooms at the WaldorfAstoriain New York City. Prior to in delivering quality communications and serviceconvention team. The efforts of his front desk staffhis graduation from Penn State promote repeat business with groups. Housekeepingin hotel, restaurant, and institutional management in depends on the front office in preparing accuratethe early 1990s, he did an internship with Walt DisneyWorld. His first job after graduation was with as well as accurate forecasting of room sales for prep-room blocks and changes to those blocks of roomsthe Hilton Short Hills in Short Hills, New Jersey, as aration of employee scheduling.a management trainee in the front office.Mr. Gehret is responsible for delivering VIP serviceto various guests. The WaldorfAstoria has cre-Mr. Gehret relates that he uses yield management“every hour of every day” with a revenue managementdepartment at the WaldorfAstoria. This in-and Diamond Travelers. This service consists of reateda “Diamond Reception” service for VIP gueststeraction focuses on its room pricing versus the competition’sroom pricing and the number of confirmed seated registration and a personal staff who assistception service that is similar to boutique hotels—and number of regrets that are based on price and guests in acclimating themselves to the new environment.availability. Reviewing this data allows the WaldorfAstoriato maximize business. He also says Mr. Gehret urges students of hospitality managementto think of the “big picture” as you developthat the key to understanding the rooms operation isto understand the components of yield management. your career by taking jobs and positions that willIn today’s hotel business, you have to increase toplinerevenues such as room sales because there is mintionsof responsibility and authority. He advocatesbroaden your experience and prepare you for posiimalopportunity to reduce expenses in order to grow commitment and gaining every possible bit of knowledgeso you can learn about the business and your-profit levels.Mr. Gehret interacts with other departments in self.TLFeBOOK