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What is the Optimal Setup for Maximizing Revenue?
Ken YoungVice President Revenue Account ManagementPreferred Hotel Group
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Who is Preferred Hotel Group?
• We are a global collection of independent hotels, destination resorts, luxury residences and unique hotel groups.
• Family owned by the Ueberroths
• 200+ associates in 30 offices globally
• 800+ hotels across five worldwide brands
• Providing Sales, Marketing and Revenue Management support
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What do Preferred Hotel Group do?
• Our eCommerce dept. has same reporting line as Vice President & Director of Revenue Management. Helps communication overall.
• Start early – analyse historic data, particularly booking windows. Don’t load a Valentines package with a week to go! Load a relevant promo. If your average lead time is 12 days, don’t load a 10 day advance purchase rate – it’ll just dilute the business & reduce your ADR.
• Use an event intelligence tool (eg; Professional Event Calendar) to plan and analyse special events.
• What are your competitors up to? Use a good rate shopping tool to find out via rate descriptors. Check competitors website for web only specials. Sign up for competitor hotels offers.
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• Sign up for membership of hotel loyalty programs to receive emails for ideas.
• Target specific groups – LGBT, teachers & educators, accessible needs travellers.
• Talk with your guests, relatives and friends via social media and face to face. What works, what doesn’t? Remember we are in the HOSPITALITY industry!
What do Preferred Hotel Group do?
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What do Preferred Hotel Group do?
• Revenue Managers should be the back end ‘system specialists’ but then need to be creative with system setup!
• Use both free (Google Analytics) and paid for analytics (Site Catalyst by Omniture, or IBE provided analytics tool) for a complete picture of page hits, exits, bookings, cancellations etc.
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What do Preferred Hotel Group do?
• Keeping the promotion realistic. Don’t load one that can only be booked via the call centre dealing with the hotel direct because it’s too complex to load in the CRS.
• Use the CRS reporting tools to track & analyse business.
• Take advantages of CRS capabilities – free night, slash through pricing, promo codes, images dynamic packages to add extra description & book specifics of promotion. (some of this may or may not be supported by the GDSs).
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What do Preferred Hotel Group do?
• Ecommerce, Marketing & RAM team need regular meetings/calls on pre and post promotion analytics.
• Access to the same data – share data for example if one has CRS data and the other not. Don’t analyse data in isolation.
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Revenue Account Manager Certification Process
Technical Areas:
CRSGDSIBE – full and mobileDirect Connects with OTAs, MetaSearch engines & wholesalersVoice channelVFM Images
CRS Application Areas:
Pricing StructuresBusiness ReviewsAll hotel reports produced by PHGTotal Branded Connectivity Report (TBC)PHG Marketing Program – pricing strategies
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Revenue Account Manager Certification Process
Products & Services Areas:Salesmanship, Consultation and Implementation and Direct
Connect and Guest Connect
Explanation of concept of the tool and the benefits for use
Ability to assess a hotel’s needs and make a sound recommendation
Work with Region Director on the pricing for a hotel
Application of a specific tool
Academic Revenue Management:HSMAI – Hospitality Sales & Marketing Association International – Certified Revenue Management Executive Certification “CRME”
Renewal required every 3 years
Additional requirements over the course of a year webinars, industry events, etc.
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Accessallrooms.com
• Only website for all accessible travel needs• Accessible rooms can be booked online• Connection via Pegasus• Online RFP• Grading scheme for room access• Contact via website or email James A K Price
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Questions?
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Thank You!
