The client is the largest hospitality company in the world and owns, manages, and franchises a portfolio of 10 brands worldwide. With over 4,000 hotels in 91 countries, the company generates a great deal of revenue. Because many of their properties are franchised to independent owners and operators, corporate revenue management training is critical to growth and development. The client came to Mindmarker and expressed the desire to reinforce knowledge and skills that their employees obtained during their one-week training course on revenue management.
The Project Outline
The task was to design a cloud-based program for all leaders responsible for revenue management and connect the reinforcement to 17 defined business goals.The client defined 4 specific reinforcement objectives:
1. Address periods of high demand
2. Determine the position in the market
3. Evaluate price setting & strategy
4. Develop future selling strategies
The 7-month training reinforcement program was based on changing the behavior of leadership. They analyzed past, current, and future trends to help set price and inventory strategies, drive performance through forecasting, price/business mix optimization, and information sharing to make better revenue decisions. Before focusing on behavior change, the program provided the customer with insight into the participants’ current knowledge level (skills, systems and procedures). This measurement increased the ability to have effective interventions by management.
The Results of the Program
In the beginning of the Mindmarker training reinforcement program, 68% of all knowledge questions were answered correctly, which helped us pinpoint 2 of the 6 categories as problem areas. A more specific analysis showed exactly which region and departments were under-performing. The client used this Actionable Intelligence to plan interventions and close the knowledge gap in each category. After the second round of measurements, 92% of knowledge questions were answered correctly. The classroom content and approach for these topics were changed as well.
of learners adjusted their approach to revenue management.
of learners adjusted strategy to make better revenue decisions.
of learners felt more confident about achieving business goals.
With Mindmarker, behavior change results are 4x greater.
Without training reinforcement, only 21% of learners apply their new knowledge and skills, but when training is reinforced with Mindmarker, more than 83% of learners achieved long-term behavior change. Mindmarker helps learners change their behaviors and apply what they learned in training back on the job. See reported findings below:
Time spent training
new hires decreased by
Customer satisfaction ratings