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.
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
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
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
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
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
Most Revenue Managers including those that consider themselves “seasoned” will tell you that they have a firm grasp on what demand drivers influence occupancy at their hotels. Expect a laundry list of the usual suspects: “Corporate high rises within 2 mile radius of the property”, “Large concert venue”, “Transient summer travelers passing through to a larger market”. What if
“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