A Need For A New Approach To Hotel Management
The proliferation of Revenue Management systems and practice are forcing hoteliers to go from cost-plus to market-based pricing method to grow, or even to sustain, their market penetration.
To deliver healthy profitable results for owners, continuous operational planning and management of resource utilization in-line with daily fluctuating demand has become an essential part of the next generation hotelier craftsmanship.
The traditional period based budgeting and cost control often influenced by silo-thinking practice is losing its relevance. That is why world-class hoteliers are looking to adopt solutions that facilitate seamless collaboration and streamline enterprise wide budgeting and forecasting, so they can dynamically respond to changes in demand – keeping employees productive and preventing waste.
Performance Management Intelligence (PMI), a HSMAI Europe awarded performance enhancing software, is designed to enable hoteliers to do this.
To help the Hospitality Management Schools implement complementary ways to impart knowledge and prepare students for the real-world business, d2o are delivering the GM Competition with the objective to give students the opportunity to be exposed to next generation management solutions and best practices through practical learning and experience.
By running their own hotel operations they will collaborate with and compete against peers in a fun, innovative and engaging way.
How the GM Competition Game Is Delivered
d2o offers PMI, software as a service, with realistic market and property data. Each student has his/her own hotel and is responsible setting price and managing controllable costs to maximize profitability under changing conditions. As the competition progresses, they have to conduct market researches, assess competition and learn to handle key functions like:
- Daily occupancy, F&B cost drivers and departmental revenue live forecasting
- Food purchasing and stock level control
- Productivity management, staffing and scheduling in all departments
Using gamification techniques like PMI index scores and structured coaching, students will:
- Get real-time feedback on their individual performance
- Be encouraged to creatively solve issues and make decisions
- Review and reflect on the cause-and-effect of their individual decisions