December 1, 2011 at 7:17 pm | Posted in Uncategorized | Leave a comment
Tags: boutique hotels, expedia, hotel revenue management, hotel sales, hotel sales training, independent hotels, social media, social selling
Especially in urban settings, boutique hotels struggle with mid week corporate at this time of year when leisure mid week is non existent.
The large franchises have not only their frequent guest programs but also national accounts that feed many of their hotels at reduced rates. Then there are the large consortia that won’t even issue an RFP to a smaller hotel!
These are usually large companies with a volume of business travel. Faced with trying to steal share from these which entails more effort than the results are worth, what strategies can smaller independent and boutique hotels deploy?
Look at the flip side of the typical source of corporate travel for the franchise hotels.
Unmanaged coporate travel by small and medium sized businesses that book their own travel account for 56% of all corporate travel according to a research study by Forrester and Best Western.
Think about it. These small to meduium sized companies don’t have enough volume to negotiate significant discounts like the big guys. But they like everyone else would like a place where they are appreciated and can get issues addressed.
What about a full court press blitz, eblasts, direct mail, sales calls, reception, for every small to medium sized business in the market. Let them know that ‘their small business is big business to you!’ and you will give them the name and contact info of a live human at the hotel that they can contact if they have an issue!
I worked with a hotel once that had no major demand generators within 3 miles of the hotel — only small to medium sized businesses.
We went afer them. After about six months, we were driving a higher ADR than the comp set, getting roughly the same occupancy levels mid week as the franchises and had a stunning REVPAR!
Also, sign up for Expdia’s VIP program that caters to these unmanagaged business travelers.
(I’ve got to get a grip on the length of my titles!)
November 7, 2011 at 10:12 pm | Posted in Uncategorized | 2 Comments
Tags: boutique hotels, historic hotels, hotel revenue management, hotel revenue management training, hotel sales, Hotels, hotels sales training, independent hotels, remote revenue managment
Whan I look at the source of business reports for distressed hotels, almost always I find that they are not doing effective online distribution with the OTAs and are not using other online distribution platforms.
An online strategy and execution in these areas is the fastest way to jump start short term revenue. There are stratagies in developing a presence on the online channels that can be executed quickly and effectively.
For example, have you developed a mobile only promotion on the OTA’s mobile platforms targeted to stimulate occupancy when you need it? The hotel may have a mobile site of its own but it doesn”t drive the traffic or exposure that an OTA mobile site does.
Where on the page does your hotel appear on the OTA sites? How do you move it to the top of the page? HInt: The answer isn’t rate parity.
There are other distribution channles such as the Historic Hotels of America that blasts out promotions from its members to every member of the National Preservation Society and a bunch of others including me — I dont’ belong to either association!.
These are only three of many things you can do with a distressed hotel that will almost instantly generate incremental revenue. There are many many more!
real simple Remote Revenue Management has developed a special program for distressed hotels. You can continue to open and close your inventory, we will do the Online Radical Triage. Send us a blank email with Online Radical Triage in the subject line and we will send you more information..carol@carolverret.com
October 25, 2011 at 8:29 pm | Posted in Hotel Sales Training Issues, In the News, Information, Social Media | 1 Comment
Tags: boutique hotels, Facebook, hotel blog, hotel revenue management, hotel sales.hotel revenue management, real simple Remote Revenue Management, small and independent boutique hotels, small independent and boutique resorts, small independent historic hotels
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
September 19, 2011 at 5:49 pm | Posted in Uncategorized | 2 Comments
Tags: boutique hotels, hotel industry, hotel revenue management, hotel revenue mangment, hotel sales.hotel revenue management, hotel trends, real simple Remote Revenue Management, small and independent boutique hotels, small independent and boutique resorts, small independent historic hotels
Economic uncertainty is hanging over the industry and being felt even more acutely by small independent and boutique hotels. At the very time they need a revenue manager who not only does the usual opening and closing rates and inventory but also has the ability to generate revenue.
At the very time these hotels need more of a presence on the internet through the OTAs and other distribution channels, they can’t afford to hire an expensive e-commerce company. What if they could hire a revenue manager with the skills to get them exposure that they ned to generate incremental revenue? The salary and payroll burden for someone with this experience would likely be more than their payroll can support.
If the economy continues to be uncertain or even goes backwards, these are the hotels that suffer first.
Now there is a company — real simple Revenue Management that guarantees to generate incremental revenue equal to or greater than their fees. Check it out. http://tinyurl.com/3fuysft
