Excel – your main talent or a bit awks?

People around a table creating a hotel distribution strategy and sharing data and graphs

One of our most popular workshops is our Excel day, which looks at the key uses of Excel for reporting in revenue management. When it comes to the weekly revenue management meeting you can almost guarantee that the GM asks the question that you don’t quite have the answer to. You almost do, but it won’t quite hit the mark when it comes to getting the exact answer. ….Awks… They always seem to want the one bit of data that you can get, but one half of the data is in one system, and the other is stored somewhere else, and you’ll still have to cross reference it once you get to it. And then make it look pretty. And then turn it into something that everyone can understand. And then no-one can remember why they asked for it…Sound familiar?

People around a table creating a hotel distribution strategy and sharing data and graphs
Excel – a fundamental tools in the revenue manager’s toolkit

Having a fundamental grasp of analytics and great economics insight is a key requirement of a revenue manger – communicating those insights means being a master at using a spreadsheet. Even if you’re lucky enough to have any of the great automation tools in existence today, there are still times when reverting to manual is the only option. Excel remains the revenue manager’s No.1 best friend, and one of the cornerstones of the revenue manager’s toolkit: to cross check a forecasting recommendation, track a sub segment of a primary market, investigate booking pace by demand type, or provide an interactive graph showing RevPAR and GOPPAR per distribution channel.

Revenue managers are finding increasingly more creative ways to use Excel to communicate key strategies. The foundations of this creativity still lie in producing meaningful pivot tables, an interactive conditional formatting tool to trigger alerts and actions, VLookup and HLookup references to support forecasting, and price sensitivity formulas to guide decisions on what pricing the market will stand.

Is Excel one of your best mates or is driving a spreadsheet a bit awks? Could you do with a brush up on your skills? Do you want greater visibility on your business? More in-depth data analysis? Just want to check out what other revenue managers are up to? If so, join us for the day to learn how to fine tune your spreadsheet skills, with the help of our team to guide you through the practical steps to building new tools and practical suggestions on how and when to use them in your property.

Dog dressed as super hero
Excel – make it your NBF

A one–day workshop for Revenue Managers with real GM questions to answer…. not awks questions.

June 30th 2015, London

October 8th, 2015 Edinburgh

Be there.

 

To book visit the web site, You will need to bring a laptop with MS Excel version 2007 or above.

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