Banquet Service Management
MBB has the ability to help in several banquet service management aspects, such as, examining existing banquet service programs. MBB will then provide suggestions, based on expertise, on how you would improve those existing banquet operations. MBB also has the ability to design new banquet menus and oversee entire banquet and convention services department. Our team will create standard operating procedures and all operating manuals needed to successfully manage all banquet and conventional business’s.
Is the application of disciplined analytics that predict consumer behavior at the micro-market level and optimize product availability and price to maximize revenue growth.
MBB helps to predict consumer demand to optimize inventory and price availability in order to maximize revenue growth. The purpose of Revenue Management is not selling a room today at a low price to sell it tomorrow at a higher price. Revenue Management also means selling a room at low price today if you do not expect higher demand.
Revenue Management is a concept that not only maxims in high demand periods, it helps to stimulate demand in low periods while avoiding pricing cannibalism. Revenue Management is a long term strategy that takes all revenue with their profitability into consideration so that you can sell low rates even in high demand period.
What makes hotels suitable to be able to apply Revenue Management
- fixed capacity
- perishable product
- high fixed costs and low variable costs
- product can be priced differently
- demand evolves
- product can be sold in advance
- market can be segmented