What you'll learn
Identify the Return of Investment
Determine departmental income
Determine departmental costs
Determine room rates based on R.O.I.
Learn to use the Hubbart-Formula
Learn return target pricing
Determine profitability of the hotel
Requirements
Basic understanding of profit and loss statement
Basic understanding of hotel operations
Description
This course 'Target return pricing for hotels' is based towards students who are interested in learning how to figure out room rates for new hotel projects and determine if the project is feasible. This could be building a new hotel, investing in a hotel project or the renovation of an exisisting property.Together we will discuss what needs to be achieved in order to achieve a pre set return on investment for the hotel owner and or other investors. You will learn how to simply decide room rates for a basic hotel property like a bed and breakfast or a hotel with limited departments.You will also learn how to assess a hotel's value based on this principle and a limited amount of key performance indicators, like Average Room Rate and RevPAR.Together we will discuss all the elements needed to set up a full and thererfor more complex Target return pricing. We will follow an example of a full scale hotel to determine what needs to be achieved to get the desired net profit after profit taxes.By the end of this course you will have a solid foundation and understanding of Target return pricing for hotels. You will learn how to calculate profit taxes on unknown revenues to get a desired outcome. You'll learn how interests, fixed franchise fees and variable franchise fees are included in this set up. We take all departements of the hotel into consideration to determine the profit of the rooms division. Based on our set up we can calculate room rates for the rooms of our hotel. We will take the occupancy rate and the double occupancy rate into the equation as well to come up with different rates. And to make it more interesting we'll have a look at how we can use square footage to calculate room rates for our hotel.If you are part of a management team responsible for opening a new hotel or if you are interested in, investing in your own hotel or lodging company, target return pricing is definitely something to have a closer look at to help you determine if the project is feasible for the market you want to operate in!
Overview
Section 1: Introduction
Lecture 1 Introduction
Lecture 2 What is target return pricing
Lecture 3 Why use target return pricing
Lecture 4 Price setting
Lecture 5 To execute target return pricing
Lecture 6 When to use target return pricing
Section 2: Calculating target return pricing
Lecture 7 Calculating target return pricing
Lecture 8 Pricing strategies
Section 3: Return on investment
Lecture 9 The return on investment
Section 4: The simple approach and valuating a hotel property
Lecture 10 The simple approach
Section 5: A full example for target return pricing
Lecture 11 The target return pricing example
Lecture 12 The R.O.I.
Lecture 13 The profit tax
Lecture 14 Fixed costs and interests
Lecture 15 Other fixed costs
Lecture 16 Operational overhead
Lecture 17 Departmental profit
Lecture 18 The rooms department
Lecture 19 Direct costs
Lecture 20 Franchise fee
Lecture 21 The average room rate
Section 6: The square footage method
Lecture 22 Square footage calculation
Section 7: The conculsion
Lecture 23 Rearranging the numbers
Lecture 24 The conclusion
Hotel managers,Investors,Hotel owners,People who want to start their own hotel,Accountants


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