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Hostel Revenue Management
 

Hostel Revenue Management

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    Hostel Revenue Management Hostel Revenue Management Presentation Transcript

    • Hostel Revenue Management
      By
      HostelStats
      HostelStats@gmail.com
    • The Potential
      "Revenue management has contributed millions to the bottom
      line, and it has educated our people to manage their business
      more effectively. When you focus on the bottom line, your
      company grows."
      Bill Marriott Jr.
      Chairman & CEO
      Marriott International
    • Our Track Record
      Over an 18 month period a three star city centre hotel increased occupancy
      by 14%, the ARR increased by 11% and RevPAR by 25%. This resulted in an
      increase in room revenue of £336,000 in a shrinking market.
      Over in Northern Ireland, we helped a group of hotels of different brands and
      star grading to achieve the following over 11 months:
      4 star – Occupancy up 2%, ARR up £7, RevPAR up £7.89 on previous year. Resulting in room revenue up by £147,000;
      3 star – occupancy up 1%, ARR up £4, RevPAR up £5 on previous year. Resulting in room revenue up by £87,000;
      3 star – occupancy up 5%, ARR up £2, RevPAR up £7 on previous year. Resulting in room revenue up by £242,000.
       
      Also, In the Republic of Ireland, in a period of 6 months increased room
      revenue by €50,000 through improved use of distribution channels.
    • What is Hostel Revenue Management?
      It is selling the right dorm/room or bedto the right customer, at
      the right time, for the right price by using the correct distribution
      channel.
    • Our goal:
      We want our clients to maximise revenue across all sources and
      grow their business. How do we help our clients to achieve this
      goal?
      Comprehensive revenue management audit;
      Development of strategic revenue management plan;
      Customised revenue management programme.
    • Revenue Management AuditWe provide a thorough assessment of your current Revenue Management processes. This includes understanding:
      Your hostel identity and brand values
      Product positioning
      Review of all possible revenue sources
      Sales and marketing strategies
      Current Market conditions
      Competitive environment
      Market segmentation
      Business mix options
      Current pricing structure
      Strategic pricing initiatives
      Competitor Benchmarking
      Reservation source management
      Electronic distribution sources
      Forecasting methodologies
      Consumer generated content (social media)
      Your reservations and guest management processes
      Technology assessment
    • Our audit will provide detailed recommendations to help you take advantage of all revenue opportunities
      Analysis of your current revenue position through existing data analysis and staff interviews;
      An evaluation of the Revenue Management practices currently in place;
      Business process evaluation to determine the processes which need to be introduced to achieve future growth;
      Culminating in a detailed report on the current situation with recommendations on how Revenue Management could improve revenue from all possible sources.
    • Implementation of strategic hotel revenue management plans
      Once the research has been done and a detailed report of findings is compiled including specific recommendations for improvement, I can help you to execute the plan.
      If you are interested in a customised quotation please contact me on email HostelStats@gmail.com