Tag: Hotel Forecasting

28
Feb

Case Study – An Eye for Detail

Another case study involves a property whose previous revenue management team lacked an eye for detail. Upon taking over the property we quickly ran a negotiated account audit as 2020 was nearing, and we wanted to catch any agreements that were going to lapse with the coming of the new year. After performing an audit we discovered that there were

28
Feb

Case Study : Improved Rate Coding

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

26
Feb

Case Study: Negotiating Rate Agreements

At this property, we used Spider’s Rate Plan and Company Analysis module to renegotiate 3 different accounts. By utilizing the “% of Room Nights on >= 95% occ” column, we identified that company A, company b, and company c contributed more than 50% of their room nights on nights when the hotel was already at or above 95% occupancy. This

15
Mar

Forecast Accuracy? Who CARES?!

“How accurate is my forecast? Well…it’s very accurate – usually falls within the industry standard 5% variance for a monthly forecast, and we automate at the market segment level.” This is the response I typically provide when asked about the RevGEN forecasts, but sometimes what I really want to say is, “it doesn’t matter how accurate it is; what matters