An accurate, relevant rate shop is one of the most important tools that a revenue manager can have in their arsenal. In this blog we’ll share the best ways to set up your rate-shop competitive set! Here are some of the factors you should weigh when assembling a compset Proximity – How close are your competitors? As a
RevPAR is the Hallmark index of hotel revenue management because it is all encompassing; RevPAR incorporates both occupancy and ADR into one, easily digestible number. The RevPAR, or Revenue Per Available Room equation is as follows: Room Revenue / Rooms Available for Sale = RevPAR or Occupancy % * ADR = RevPAR RevPAR is so useful because it
Inventory Restrictions There are several different ways to restrict what kind of reservations you receive at your hotel. The most broad and indiscriminate is a property wide restriction or ‘House’ restriction. The most common are Minimum length of stay restrictions, Maximum Length of Stay, and ‘Close-to-Arrival’ restrictions, although there are other, more rarely used restrictions such as Closed to departure.