Dynamic Revenue Management

Revenue Management

Pricing strategy and Yield Management: Whether it is retail, group, special corporate, packages, etc., our highly skilled team evaluates our placement in the market, and the cost per channel to ensure the property is properly placed. We identify seasonality, day of the week, customer trends, and many other market factors to ensure the property has the correct pricing strategy in place. Working with the property is key, to ensuring that no opportunity is missed.

STR Analyzation and Competitive Set review: Our team analyzes market changes through STAR data, using the STAR At-a-Glance and STAR segmentation report daily to ensure that we are receiving our fair market share compared to our competitors. We actively review our competition to ensure that we are measuring ourselves against like competition. This is based on distance from the asset, room count, and market class.

Segmentation Review: Understanding who your customers are and where they are coming from is a crucial part of a hotel’s success. Looking under the hood helps better understand and guide the property sales and revenue management strategy.

Identifying Customer Patterns and Opportunities: Finding a needle in a haystack! Very often there is a customer buying pattern that goes far beyond the day of the week at each hotel. Identifying these patterns allows us to find areas of opportunity.

Group Management: We actively work with the sales team to ensure that strong groups are taken. These are groups that have strong stay patterns, high banquet spending, and pay a premium rate. This group must align with the overall property top-line revenue strategy.

RFP and Special Corporate Review: Special corporate business is often one of the cores of transient business, especially during the week. These accounts are crucial to a hotel’s success. Our team works closely with the property sales team to identify opportunities and target specific corporate accounts.