Cost and Performance Excellence
Realization improvement for a major player in the hospitality sector
28 May 2020
Context
- Client Description: A leading Indian hotel chain
- Opportunity: The client wanted to accelerate its revenue growth and realizations (realized revenue / booked revenue)
Further, the client also wanted to understand the following:
- Drivers of cancellation across different cities, offerings, channels etc.
- How to develop a framework to drive down cancellations on an ongoing basis
Our Approach
- Conducted in-depth interviews with 1,000+ customers to analyze their behavior patterns across different cities and understand the reasons for cancellation
- Performed comprehensive data analysis to identify patterns and uplift potential to generate actionable insights
- Implemented specific quick wins along with client teams
- Conducted POCs to demonstrate the impact of key recommendations
- Institutionalized a comprehensive framework to build deep capabilities in the client organization to monitor and improve the key metrics on an ongoing basis
Key Insights / Outcomes
Client understood the various drivers of cancellation and the action items required to tackle them
An overall governing framework was established along with necessary systems and processes to improve this metric
Praxis Value Delivered
- Action plan for improving realization and reducing cancellation
with 4-5 key driving factors
- Methodology for estimating demand and supply using technology
solutions such as geo-mapping of supply and data analytics to identify catchment
areas for upcoming demand
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