For this case study, we had the pleasure of working with a property that had a great mix of companies, but were coding them in a confusing and inefficient way.
Before RevGEN, this Hilton property would build out an entirely new SRP (special rate plan) for every single new corporate agreement they made, rather than building out 10-20 versatile SRP’s with different price points and NLRA/LRA status, and then associating different client id’s with these SRPs. The issue with this is that the hotel quickly ran out of options for new SRP’s and found themselves having to re-use SRP’s that were already named for other companies. This led to confusing scenarios where multiple companies production would appear to be for one singular company which made re-negotiation and account evaluation a major headache.
Using our Hilton expertise we were able to completely overhaul the way that the property managed their LNR SRP’s. Now the property uses a much more organized naming system, where different SRP’s are named and identified by their price point and LRA/NLRA status, and then different companies are shelved under these properly named SRP’s using their corporate ID’s which makes tracking much easier. This has also improved the hotel’s forecasting and yielding in GRO.
At Kriya RevGEN we see this all the time at properties all over the country! Not only Hiltons, but IHG, Marriott, Wyndham, Choice, Best Western, and Independent properties as well. If you suspect that miscoding is holding you back from your forecast and reporting accuracy, reach out for an audit today!
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