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Love
Posted: 10/23/2020

"Friendship often ends in love, and love in friendship never ends. "

We’re hardly out of the woods with COVID-19, and that means many properties will have to make do with a customer base mostly derived from local leisure, staycations and workcations from drive-to markets. With fewer overall guests, outside of cost savings efforts we must simultaneously look at maximizing the revenue per available guest (RevPAG), and there’s no better way to go about this than by sharpening your use of the PMS.

This is the last issue of Siegel Sez before this year’s CYBER HITEC event. HITEC is an event I have not missed in 30 years, and historically it has always been a great place to find innovation.

Toxicity Kills
Posted: 10/07/2020

It doesn’t matter if it is toxins in your physical environment or toxins in your mental environment. This stuff kills! 

It’s said that when someone’s mindset shifts, everything around them can change at the same time, and in our current setting, the importance of being in the right headspace, both personally and as an organization, can’t be discussed enough.



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The Importance of Revenue Management at the Property Level

02/09/2015
by Sarah Jones

The revenue management culture in a hotel is best built on exceptional interdepartmental communication. The revenue department’s drive and ownership of the message is key for the property’s revenue influencers to be well informed and make good decisions. 
 
The revenue strategy and subsequent results must be reiterated to all departments regularly – in numerical, graphical, verbal and demonstrative fashions – in whatever medium the audience will best receive and retain it. As market conditions change or the returns are not optimal, it becomes even more important to circle back and highlight a shift in strategy.  
 
Sales teams especially need to be cognizant of key need (or non-need) dates and ‘easy wins’ when evaluating opportunities to maximize their efforts. A low rate may not be so great when it comes over peak periods that would fill anyway – however the same low rate on a shoulder date can create a real 'win' for the hotel and client alike. The selling teams must have tools available to quickly qualify their leads and make good revenue decisions with confidence. 

In addition to layering in the bedroom sales, revenue opportunities continue at all points of guest interaction once they arrive at the hotel.  The front line staff should be armed with verbiage and items to upsell. These incremental sales are more than revenue but also the ability to enhance the guest experience – which they will hopefully share with friends and social media. 

Sophisticated revenue management systems, displacement tools and simple demand charts can each be used to demonstrate the impact of specific revenue opportunities or decisions. Broken down into familiar scenarios, each hotel department can clearly see the part they play in the property’s financial success – either closing a $25 room upgrade or a million dollar airline contract.  

As more revenue departments are now offsite covering multiple hotels, these discussions of ideas and strategies are more important than ever. The ‘hallway chats’ are now replaced with conference calls, instant messenger, text, email and a combination of many other methods. Whichever medium used, the aligning (and realigning) of successful strategies is the objective.  Effective revenue management deployment in the hotel always comes back to communication – with guests, clients, and most importantly, amongst colleagues. 

About The Author
Sarah Jones
Director of Revenue Management Services & Special Projects
Sceptre Hospitality Resources


Sarah Jones is the director of revenue management services and special projects for Sceptre Hospitality Resources (SHR).

 
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