Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
How hotels can simplify today’s complex hotel
revenue management strategies
TLearn Webinar
October 4, 2016
At the core of revenue management, hoteliers must...
#1
Monitor your competitor
set and local market
demand - ensure you
b...
The glossary...
BAR: basic available rate
ADR: average daily rate
Revenue: assessing last day, week, or month
Occupancy: %...
Knowing your compset
gives you the edge...
noun. CompSet
A competitive set of
hotels that most are
geographically close,
b...
So, how do you know if your approach to pricing and revenue management is too manual
and too complex?
If any of these 5 st...
Do you need to simplify your revenue management strategy?
Occupied rooms: 100 vs.
Occupied rooms: 88
BAR: $79
BAR: $125
AD...
Industry reporting - what to look for?
Market Penetration Index =
Your occupancy / compset occupancy
Over 1.0 - You are ge...
Poll no. 1
Which of these 5 statements about revenue
management rings true with you?
Poll no. 2
Do you use tech to automate your hotel’s revenue
management strategy?
Q & A
Thank you!
Send your questions and comments to gene@tnooz.com
Replay and presentation will be available on www.tnooz.com
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies
Upcoming SlideShare
Loading in …5
×

1

Share

Download to read offline

Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies

Download to read offline

With so many different approaches to revenue management, today’s hotelier can find the best practice confusing.

And we know it can get very complex, very quickly.

The key to implementing a successful revenue management strategy is to keep it simple — don’t take on more than you can handle.

Simplifying your revenue management strategy is easier than you think, and there is plenty of smart and simple technology available to help your hotel along the way.

In this free TLearn webinar, SiteMinder will help your hotel cut through the clutter, focus on relevant data, and gain a better understanding of these key areas:

Read the signs: Is your revenue management approach too complex?
Revenue management rules: Five important lessons to learn
Be a data-driven hotelier: Use key metrics to increase revenue
Our presenters are:

Kevin O’Rourke, Executive VP of Global Sales, SiteMinder
Neil Corr, Senior Advisor, IDeaS
Sean O’Neill, Editor­-in-­Chief & Moderator, Tnooz
Gene Quinn, CEO & Producer, Tnooz
This free webinar took place on Tuesday, 4th of October 2016.

Related Books

Free with a 30 day trial from Scribd

See all

Tnooz-SiteMinder FREE TLearn webinar: How hotels can simplify today’s complex revenue management strategies

  1. 1. How hotels can simplify today’s complex hotel revenue management strategies TLearn Webinar October 4, 2016
  2. 2. At the core of revenue management, hoteliers must... #1 Monitor your competitor set and local market demand - ensure you build an accurate picture #2 Use your competitor set analysis to identify your best available rate - ensure you remain competitive at all times #3 Continually adjust and price your rooms dynamically - ensure you maintain a balance and don’t under or overprice
  3. 3. The glossary... BAR: basic available rate ADR: average daily rate Revenue: assessing last day, week, or month Occupancy: % of rooms occupied RevPAR: revenue per available room Don’t forget these key revenue management terms... The model… Occupied Rooms: 100 BAR: $79 ADR: $64 REV: $6,400 OCC: 100% REVPAR: $64
  4. 4. Knowing your compset gives you the edge... noun. CompSet A competitive set of hotels that most are geographically close, but more importantly resemble your BAR, market segments, and business mix. Do you need to simplify your revenue management strategy?
  5. 5. So, how do you know if your approach to pricing and revenue management is too manual and too complex? If any of these 5 statements ring true with you, then it’s time to simplify...
  6. 6. Do you need to simplify your revenue management strategy? Occupied rooms: 100 vs. Occupied rooms: 88 BAR: $79 BAR: $125 ADR: $64 ADR: $112.50 REV: $6,400 REV: $9,900 OCC: 100% OCC: 88% REVPAR: $64 REVPAR: $99 By applying simple dynamic pricing and raising your BAR rate, an extra $3,500 in revenue was generated - and in just one day!
  7. 7. Industry reporting - what to look for? Market Penetration Index = Your occupancy / compset occupancy Over 1.0 - You are getting your fair share Average Rate Index = Your ADR / compset ADR Revenue Gen Index = Your RevPAR / compset ADR Top tip! Compare year-on-year & set BAR strategically What was happening a year ago? Think positive: Local event, corporate group, wedding Think negative: Air Lift Trends, bad weather, new property
  8. 8. Poll no. 1 Which of these 5 statements about revenue management rings true with you?
  9. 9. Poll no. 2 Do you use tech to automate your hotel’s revenue management strategy?
  10. 10. Q & A
  11. 11. Thank you! Send your questions and comments to gene@tnooz.com Replay and presentation will be available on www.tnooz.com
  • praveenanupame

    Feb. 17, 2017

With so many different approaches to revenue management, today’s hotelier can find the best practice confusing. And we know it can get very complex, very quickly. The key to implementing a successful revenue management strategy is to keep it simple — don’t take on more than you can handle. Simplifying your revenue management strategy is easier than you think, and there is plenty of smart and simple technology available to help your hotel along the way. In this free TLearn webinar, SiteMinder will help your hotel cut through the clutter, focus on relevant data, and gain a better understanding of these key areas: Read the signs: Is your revenue management approach too complex? Revenue management rules: Five important lessons to learn Be a data-driven hotelier: Use key metrics to increase revenue Our presenters are: Kevin O’Rourke, Executive VP of Global Sales, SiteMinder Neil Corr, Senior Advisor, IDeaS Sean O’Neill, Editor­-in-­Chief & Moderator, Tnooz Gene Quinn, CEO & Producer, Tnooz This free webinar took place on Tuesday, 4th of October 2016.

Views

Total views

767

On Slideshare

0

From embeds

0

Number of embeds

388

Actions

Downloads

61

Shares

0

Comments

0

Likes

1

×