Hotel Sales Blog

How Does the Revenue Managment Plan Fit with the S&M Plan for 2012?

The revenue management plan for 2012 should be an integral part of the Sales & Marketing plan for 2012 and it isn’t about just about opening and closing rates and inventory!  A well thought out RM plan should contain an over view by segment.  Which are performing well — which need support and the the projected increases year over year! 

The next section would be all about the distribution channels that are used, the relationship with each and which promotions are in the tool box for next year.  Don’t forget Front Desk and reservations conversions — this  is also counts as a distribution channel.  What are their conversion ratios and what is the goal for next year?  How are you going to support them to reach the goal?

The next section is a breakdown month by month — what events are in the market, what group blocks are on the books both internal and CVB generated.    How are they going to impact the plan and the distribution strategy? 

This is only the skeleton — th actual plan also needs to include web site analytics such as referring sites to the booking engine.  What is the social media strategy and how is that going to impact the distribution mix if you have a Facebook widget for example?   How are you going to use the new Google Travel to stimulate business from Hotel Finder for example? 

The fun part is that the plan is constantly changing and the distribution landscape next year won’t be quite the same as this year — new players, new dynamics!  Lots to think about but critical to RM success in 2012!

Need help with that!  Developing a Revenue Management plan is part of what we do at real simple Remote Revenue Management.   Check us out at real simple Remote Revenue Management http://tinyurl.com/3fuysft