Join Bill, Raj, & Daniel as they discuss revenue management tips for 5-10 hotels!
Bill: I think that when you’re at 5-10 hotels, you’re still too small to bring it in-house. It doesn’t make sense, and I’ll ask Raj to back me up there, but you are at a point where you need to start consolidating because there’s a lot of inefficiencies if you’re still siloing across those 5-10 hotels, right. You could potentially have 5-10 revenue managers. You might, in most cases, most owners have multiple brands and a lot of times they’re in similar markets, or even hotels sitting next to each other. So, the beauty of consolidating is that you can play these strategies off of each other, a huge advantage. Like, if there’s events in your area, you only need to explain it 5, 10 times. And, you really can’t build solid relationships if it’s siloed. So it doesn’t really matter necessarily who you’re using, but I would find some sort of third party out-source partner, who can take your 5-10 hotels, give you one point of contact, stack your calls for time-efficiency, and also start streamlining while you’re reporting so you don’t have to change your mindset.