Revenue Management
Revenue Management – by 1834 Hotels
“Selling the right room, to the right person, at the right time, for the right price, through the right distribution channel, at the right cost”.
As one of the most important operations of the hotel, revenue management is crucial to the business. When managed effectively there is no money left on the table. We will extract maximum profitably out of your hotel.
1834 Hotels partners with Key Revenue Management software providers and provides management support to provide your hotel and Manager with the tools, data and systems to effectively revenue manage their hotel with educated decisions.
Short term
- Setup of revenue management strategy for your hotel
- Setup of revenue management system to your PMS (where possible)
- Analysis of yield position – Rates and occupancy monitored for optimal REVPAR
- Correct yield direction and positioning for all segments
- Rooms and revenue pickup tracked and reported
- Yield management software and tools to provide rate recommendations
- Distribution support to maximise online connections/mapping
- Local market data informing rate strategies
- OTA rate shopping tool enables accurate competitor reviews
- Support with campaign selection and group blocks
Long term
- Analysis of occupancy and business market mix
- Rate position and setting support
- Understanding and reviewing your customer acquisition cost
- Management strategies for low yielding unpublished package promotions
- Calendar of Events can be used to forecast and plan for peak periods 12 to 18 months in advance.
- Peak periods capitalised
- Average rate performance to budget comparison
- Competitor analysis
Reporting
1834 Hotels invests heavily in custom reporting. Accurate and current information is used to react and make revenue shaping decisions.
- Monthly statistical reporting
- Monthly sales analysis reporting
- Accounting reports showing actual results v budgets
- Annual budget creation including all income and expenditure
- Daily operating reports – with YOY and versus Budget comparisons
- Weekly forecast reports
- All the above reports are included in an owner’s monthly report
Summary
- Hotel revenue management will ensure we extract maximum profitably out of your hotel.
- 1834 Hotels will support your hotel with a revenue management system
- 1834 Hotels offer distribution and mapping support
- 1834 Hotels provide detailed reporting to make informed decisions.
- We will provide owners with a detailed monthly report.
Let us help you.
