We can develop your Revenue Management & Distribution strategies to maximise revenue and yield management.
What’s the fastest way you can increase occupancy and revenue at the same time?
Having someone monitor, understand rates, pricing and distribution and make a huge impact on your bottom line. There isn’t a degree where you can learn how to become a Revenue Manager. It is learned hands-on, working for multiple hotels and property management systems and knowing the market, your competition set, being able to adapt quickly and implement the right pricing strategy for your hotel’s business structure and target audience.
You may have someone managing your rates within the hotel – either a front office person, the property manager in between running the hotel operationally, your sales person or maybe you, as the business owner. Are they really doing the things that will maximise the best revenue outcome for your property?
We work with hotels from 25 rooms to 300 + rooms in coastal, regional and city destinations. We have hands-on experience managing national hotels, resorts and serviced apartments in corporate, government and leisure markets and across multiple platforms.
Our support can be tailored in a few phases:
- Audit your current strategy and make recommendations on how to grow your ADR & occupancy; OR
- we can implement the recommendations;
- We can run training workshops for your teams to implement, then we can run checks each week to make sure they are implementing the agreed strategies;
- Create a monthly solution where we run daily and weekly checks to advise them on what to re-map, reload, update, block out, change rates or participate in certain Online Travel Agency promotions to drive revenue.
We can also break it down to specific areas:
- Development of property rate plans – including all market segments (BAR, Gov, Consortia, Corporate, Leisure etc);
- Development of Dynamic rate pricing for OTAs and your direct website to ensure parity and maximum yielding strategies are getting your property ahead of your market segment;
- Set up of STR comp set and monthly revenue tracking and reporting;
- Standardisation of room types and information over all distribution channels;
- Develop a task plan to your team to follow on a Daily / Weekly / Monthly basis;
- Research into new market segments for your property such as Closed User Groups, Sporting, Wholesale, Inbound, Corporate, Government;
- Develop GDS & Consortia strategies to grow your corporate base from TMC’s;
- Develop standard procedures on data capture;
- And much more….