Hospitality Marketing, in general
What does USP stand for in hospitality marketing?
Unique Selling Proposition
What percent of your gross revenues go toward your marketing budget?
5% to 12%
What does ADR stand for?
Average Daily Rate
Define market position.
Differentiating your resort from the competition and how consumers will perceive your resort.
Name one of the countries Dave is going to on his cruise.
Greece, Croatia, Montenegro, Slovenia, Italy
What does “patience” mean in the 10 P’s of hospitality marketing?
Business does not happen overnight and takes time to develop.
What is break-even pricing?
When sales and variable costs cancel out and profit is made.
What does RevPAR stand for?
Revenue per Available Room
Define relationship marketing.
Low or no-cost form of marketing via communicating with current guests, industry peers, and potential guests (email, word of mouth, etc.)
What kind of resort did Dave try and talk that guy out of creating?
A tennis resort.
Define market segmentation.
Divides your resort market into subsets of guests, that will respond differently to your promotional mix. examples: geographic location, business meetings, recreation
A resort’s gross revenue is $2,750,000. What is the most amount of money they should dedicate to marketing?
$330,000
How do you calculate RevPAR?
Total room revenue divided by the number of available rooms OR ADR multiplied by the occupancy rate
Define revenue management.
Allocating the right room to the right customer at the right price at the right time to maximize revenue
Where did Dave go to college?
Ithaca College
What are the 10 P’s of hospitality marketing?
People, planet, place, product, package, price, promotion, performance, patience, profit
A resort dedicates $86,250, or 5%, of its gross revenues to marketing. What is the resort’s gross revenue?
$1,725,000
How do you calculate ADR?
Total room revenue divided by the number of occupied rooms
“Treat every customer problem as if ________.”
The ceiling just collapsed.
How many years did Dave serve in the Vermont General Assembly?
Nine years
Draw the 4-step marketing cycle.
Measurement - research - planning - execution - repeat
What are the four steps in the “planning” phase of marketing?
Performance objectives/forecasting, marketing strategies, action plan, budgeting
Find the RevPar for a 114-room resort with a room revenue of $250,000.
$250,000 / 114 = $2,192.98
What are the three levels of product?
Augmented product, formal product, core product
What PRT classes did Dave create?
Resort Management and Marketing, Entrepreneurship in Recreation and Tourism, and Ski Area Management