Kathleen Reidenbach Vice President Revenue Management & Distribution Kimpton Hotels & Restaurants Group, LLC
KIMPTON HOTELS & RESTAURANTS
 
KIMPTON HOTELS OUTSCORE INDUSTRY GIANTS <ul><li>Kimpton Hotels Ranked #1 in  CUSTOMER SATISFACTION  posting higher scores ...
Mission:  Red Ribbon non-profit organizations provide support to people living with HIV and education to prevent the sprea...
 
 
 
 
 
Kathleen Reidenbach Vice President Revenue Management & Distribution Kimpton Hotels & Restaurants Group, LLC 6 WAYS TO MAX...
Revenue Management Pricing Strategy  Infrastructure Call Center Services & Support Online Marketing Social Media Agenda
Agenda Revenue Management Pricing Strategy  Infrastructure Call Center Services & Support Online Marketing Social Media
What is Revenue Management? <ul><li>Revenue Management is the culmination of the following practices and disciplines desig...
Key Performance Measures Occupancy %: Number of occupied rooms as a percentage of available rooms Average Daily Rate (ADR)...
Agenda Revenue Management Pricing & Promotion Strategy  Infrastructure Call Center Services & Support Online Marketing Soc...
Pricing & Promotion Strategy -Forecast Demand -Customer Segmentation -Length of Stay Pricing -Packaging & Promotion
 
Guest selects desired Upgrade(s) Explanation of Upgrade Request Process  eStandby Upgrade Promotion powered by Nor1
Agenda Revenue Management Pricing & Promotion Strategy   Infrastructure Call Center Services & Support Online Marketing So...
Human Resources and Management Team <ul><li>Consolidated, Multi-Property City and Regional Teams </li></ul><ul><li>Dynamic...
Integrated, Automated Technology <ul><li>Integrated, Web-Based Reservations System </li></ul><ul><li>Automated, Low Cost C...
Agenda Revenue Management Pricing & Promotion Strategy   Infrastructure Call Center Services & Support Online Marketing So...
Call Center Services & Online Response Team <ul><li>Following up on a lead within 24 hours increases your chances of closi...
Agenda Revenue Management Pricing Strategy   Infrastructure Call Center Services & Support Online Marketing Social Media
Comprehensive Online Presence and Proactive eStrategy
-Content Management -Images & Virtual Tours -SEO/PPC -eMarketing Partnerships & Distribution Online Marketing
 
 
 
Agenda Revenue Management Pricing Strategy   Infrastructure Call Center Services & Support Online Marketing Social Media
Social Media Facebook/MySpace Blogs and ‘Flogs’ Virtual Worlds Guestbook
 
<ul><li>HotelChatter.com </li></ul><ul><li>Travel 2.0 / User-Driven Content </li></ul><ul><li>Can offer very positive comm...
ApartmentReviews.net
ApartmentRatings.com
Dynamic, fast paced world of Revenue Management & Distribution Consumer trends and expectations are high - Answer the phon...
Thank You!
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Revenue Management and Marketing - Lessons from the Hotel Industry

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Kathleen Reidenbach, Kimpton Hotels presentation on revenue management and marketing in the lodging business.

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  • Revenue Management and Marketing - Lessons from the Hotel Industry

    1. 1. Kathleen Reidenbach Vice President Revenue Management & Distribution Kimpton Hotels & Restaurants Group, LLC
    2. 2. KIMPTON HOTELS & RESTAURANTS
    3. 4. KIMPTON HOTELS OUTSCORE INDUSTRY GIANTS <ul><li>Kimpton Hotels Ranked #1 in CUSTOMER SATISFACTION posting higher scores than ALL OTHER HOTELS IN THE INDUSTRY !!! </li></ul><ul><li>35,000 people from all over America are surveyed each quarter to determine the results. </li></ul><ul><li>Kimpton not only scored the highest customer satisfaction in our category (upper upscale) but ours were the highest scores in all categories including the luxury segment which includes Four Seasons, Ritz-Carlton, Rosewood and Mandarin! </li></ul>
    4. 5. Mission: Red Ribbon non-profit organizations provide support to people living with HIV and education to prevent the spread of the disease. Mission: Dress for Success (DFS) is an international non-profit organization that provides business attire and career development to support low-income women transitioning into the workforce. Kimpton is the exclusive hospitality sponsor of DFS Mission: The Trust for Public Land (TPL) is a national, nonprofit, land conservation organization that conserves land for people to enjoy as parks, community gardens, historic sites, rural lands, and other natural places, ensuring livable communities for generations to come.
    5. 11. Kathleen Reidenbach Vice President Revenue Management & Distribution Kimpton Hotels & Restaurants Group, LLC 6 WAYS TO MAXIMIZE REVENUE IN 2008
    6. 12. Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media Agenda
    7. 13. Agenda Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
    8. 14. What is Revenue Management? <ul><li>Revenue Management is the culmination of the following practices and disciplines designed to optimize revenue materialization for an asset, group, or organization: </li></ul><ul><ul><li>Demand Forecasting </li></ul></ul><ul><ul><li>Market/Competitive Intelligence </li></ul></ul><ul><ul><li>Economic Conditions </li></ul></ul><ul><ul><li>Consumer Behavior </li></ul></ul><ul><ul><li>Pricing Strategies </li></ul></ul><ul><ul><li>Distribution Channel Management </li></ul></ul><ul><ul><li>Content Management </li></ul></ul>
    9. 15. Key Performance Measures Occupancy %: Number of occupied rooms as a percentage of available rooms Average Daily Rate (ADR): Total room revenue divided by number of occupied rooms Revenue per Available Room (RevPAR): Total room revenue divided by total available rooms OR occupancy % x ADR
    10. 16. Agenda Revenue Management Pricing & Promotion Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
    11. 17. Pricing & Promotion Strategy -Forecast Demand -Customer Segmentation -Length of Stay Pricing -Packaging & Promotion
    12. 19. Guest selects desired Upgrade(s) Explanation of Upgrade Request Process eStandby Upgrade Promotion powered by Nor1
    13. 20. Agenda Revenue Management Pricing & Promotion Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
    14. 21. Human Resources and Management Team <ul><li>Consolidated, Multi-Property City and Regional Teams </li></ul><ul><li>Dynamic, cutting edge team structure of discipline experts </li></ul><ul><li>Kimpton University and Employee Development </li></ul><ul><li>Be recognized by our employees as a “Best Place to Work” </li></ul>
    15. 22. Integrated, Automated Technology <ul><li>Integrated, Web-Based Reservations System </li></ul><ul><li>Automated, Low Cost Connectivity to Distribution Partners </li></ul><ul><li>Hotel Website Online Reservations Booking Engine </li></ul><ul><li>Automated, Dynamic Revenue Management System through IDeaS </li></ul><ul><ul><li>Evaluates historical and recent trend information </li></ul></ul><ul><ul><li>Integrates competitor pricing strategy </li></ul></ul><ul><ul><li>Forecasts demand by room type and segment </li></ul></ul><ul><ul><li>Provides a multi-property group/meeting evaluation and pricing tool </li></ul></ul><ul><ul><li>Delivers automated pricing decisions 3x per day </li></ul></ul>
    16. 23. Agenda Revenue Management Pricing & Promotion Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
    17. 24. Call Center Services & Online Response Team <ul><li>Following up on a lead within 24 hours increases your chances of closing the sale by 80% </li></ul><ul><li>24 x 7 Dedicated Call Center Support </li></ul><ul><li>Dedicated Service Desk/Email Response Team </li></ul>
    18. 25. Agenda Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
    19. 26. Comprehensive Online Presence and Proactive eStrategy
    20. 27. -Content Management -Images & Virtual Tours -SEO/PPC -eMarketing Partnerships & Distribution Online Marketing
    21. 31. Agenda Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
    22. 32. Social Media Facebook/MySpace Blogs and ‘Flogs’ Virtual Worlds Guestbook
    23. 34. <ul><li>HotelChatter.com </li></ul><ul><li>Travel 2.0 / User-Driven Content </li></ul><ul><li>Can offer very positive comments </li></ul><ul><li>Can also hurt a property if content is negative – the hotel cannot control the content </li></ul>
    24. 35. ApartmentReviews.net
    25. 36. ApartmentRatings.com
    26. 37. Dynamic, fast paced world of Revenue Management & Distribution Consumer trends and expectations are high - Answer the phone…Call me back NOW - Photos and Image Galleries make a BIG difference - Unofficial Content WINS every time Leverage resources to impact opportunities within major market segments with the biggest ROI Keep it simple Summary
    27. 38. Thank You!

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