Tag: Revenue Management

15
Feb

Building a competitive set for your rate shop

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

8
Jan

Pricing Models 101 – Revenue Management Guide

Pricing Models   There are multiple pricing models currently in use in the world of revenue management.  Each model has its benefits and drawbacks and while there is no ‘best’ pricing model, each one is fascinating to learn about and helps develop your analytical thinking and problem solving skills as a revenue manager.          Traditional Model (“rate

3
Sep

Revenue Manager Cheat Sheet – Government Rates

Have you ever needed a guide that you can share with your front desk teams to help them improve coding and be more confident when offering the various government rates? If so, then share this guide on your next revenue call to help clear things up!   Click here to download a pdf of our Government Cheat-Sheet   In case

27
Mar

Revenue Managing in a Catastrophe

With the wrath of COVID-19 halting travel globally, it is imperative that revenue managers think strategically. The tools, strategies, and technology we once used may no longer apply and work the same way. With the future unclear, the data we relied upon to make informed decision is now irrelevant. As demand changes drastically, so should our discussions about a hotel’s

1
Mar

Case Study: Event Management

In this case study, check out how we vastly improved year-over-year performance for graduation night in a busycollege town!   By better yielding out lower rated segments earlier, utilizing all brand tools at our disposal, and working with our teams to ensure that we stay firm on enforcing restrictions and policies, we have seen a $110 jump in ADR vs.

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

16
Feb

Man vs. Machine

If you don’t know what hurdle points are, please see my video A quality that I tend to notice in good revenue managers is a willingness to question the status quo, and actively experiment with the various tools at their exposure to try to exact extraordinary outcomes. Back in the fall 2014 I attended a revenue management course hosted by one

26
Nov

What is ADR Breakage?

Do you want to break the code on ADR Breakage? To an outsider, the revenue manager’s lexicon may often seem like a confusing amalgamation of newspeak, decipherable only with a Ouija glass or enigma machine.  Examples that spring to mind are “perfect sell”, “fenced”, “OTB”, “BAR”, and “OTA”  just to name a few. A term that fits firmly in that