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. Kathleen Reidenbach Vice President Revenue Management & Distribution Kimpton Hotels & Restaurants Group, LLC
- 2. KIMPTON HOTELS & RESTAURANTS
- 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.
- 11. Kathleen Reidenbach Vice President Revenue Management & Distribution Kimpton Hotels & Restaurants Group, LLC 6 WAYS TO MAXIMIZE REVENUE IN 2008
- 12. Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media Agenda
- 13. Agenda Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
- 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
- 16. Agenda Revenue Management Pricing & Promotion Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
- 17. Pricing & Promotion Strategy -Forecast Demand -Customer Segmentation -Length of Stay Pricing -Packaging & Promotion
- 19. Guest selects desired Upgrade(s) Explanation of Upgrade Request Process eStandby Upgrade Promotion powered by Nor1
- 20. Agenda Revenue Management Pricing & Promotion Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
- 23. Agenda Revenue Management Pricing & Promotion Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
- 25. Agenda Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
- 26. Comprehensive Online Presence and Proactive eStrategy
- 27. -Content Management -Images & Virtual Tours -SEO/PPC -eMarketing Partnerships & Distribution Online Marketing
- 31. Agenda Revenue Management Pricing Strategy Infrastructure Call Center Services & Support Online Marketing Social Media
- 32. Social Media Facebook/MySpace Blogs and ‘Flogs’ Virtual Worlds Guestbook
- 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
- 38. Thank You!