May 16, 2012 at 10:32 pm | Posted in Uncategorized | 2 Comments
Tags: hotel revenue management, hotel sales, hotel sales training, independent hotels, social media, social selling
Tingo and Backbid are both discount channels that work somewhat differently.
Tingo, owned by Trip Advisor, guarantees to refund the difference in rate if the hotel where you booked drops its rate on the same room for that date. Backbid, will take your reservatiosn and try to find a similar hotel with a relatively similar room type that will take yor reservation at a lower price. They then send your reservation to the lowest bidder and cancel your original reservation.
What’s wrong with this picture? In Tingo’s case, Orbitz has tried this promotion for years and still hasn’t taken the world by storm. Most hotels I know have not refunded one check to Orbitz for a customer who found you quoted a lower rate for the same date on a room type like the one they booked.
There is something snarky about Backbid that makes many of us uncomfortable no matter how competitive we are. There is something wrong with ‘stealing’ a reservation from a competitior after it is already booked.
This may be a moot point since niether of these platforms are becoming major players and barely make the list of minor players. In the current economy, hotels are more likely to raise rates as demand increases which renders the business model of these two players ineffective for the most part.
April 10, 2012 at 6:07 pm | Posted in Uncategorized | 1 Comment
Tags: boutique hotels, expedia, hotel revenue management, hotel sales, hotel sales training, independent hotels, social media, social selling
We wanted to make all of our readers aware of this Free Webinar scheduled for April 19.
Lead time for leisure is almost at precession levels and “…is a result of several factors, including growing consumer confidence and an economic recovery, said Julie Parodi, senior director of strategic planning for Pegasus and analysis editor of The Pegasus View.(Hotel News Now, 4/9/12)
This is a game changer versus the past several years. In this webinar we will explore:
• How to determine demand patterns from last year
• Comparing lead times from the past quarter and summer 2011
• Forward looking rates and reports of business OTB for the comp set
• Taking the leap – sell from the top down based on demand or from the bottom up?
If you have been holding off completing your pricing strategy for the upcoming 4 months – don’t’! The time to develop a pricing strategy is now! This FREE webinar targeted at independents and boutique hotels will explore guidelines for developing your summer pricing and how to measure the results! The webinar is 45 minutes in duration and will be on April 19 at 11am PST, 10 am MST, 11 am CST and Noon EST. Click here to register for the live program and/or the recording.
http://bit.ly/HnZT6P
March 11, 2012 at 11:59 pm | Posted in Uncategorized | Leave a comment
Tags: boutique hotels, destination management, hotel revenue management, hotel sales, hotel sales training, independent hotels, Pinterest, resorts, social media, social selling
I am totally intrigued by Pinterest! This is fridge art on steroids!
That Pinerest now generates more referrals to web sites than Twitter is astounding and it surpassed Google+ ( not suprising), YouTube and LinkedIn. (TechCrunch, 3/8/12)
Pinterest is a social network where people and companies can post images of their world and interesting images from others, on a page. It is invitation only at this time but invites aren’t hard to get when you request them.
Destinations should be salivating over this — especially for summer season leisure. Imagine showcasing the destination with pics that all have embedded links to their members’ sites — attractions, hotels, historic sites and parks. Imagine forwarding the link to the Pinterest page to clients, potential clients and interested groups.
For independent resorts and boutique hotels the allure is irresistible in creating a sense of place and experience. 95% of Pinterest’s members are women and women are the primary decision makers for the family vacation.
And it is totally free — they don’t have ads (yet). How they monetize the site is anyone’s guess but it is a tool that promises to be a great marketing platform for the hospitaltiy industry among others!
February 6, 2012 at 11:07 pm | Posted in Uncategorized | 1 Comment
Tags: hotel revenue management, hotel sales, hotel sales training, social media, social selling
Google has flexed its most formidable muscle, Search, to promote and some would say force hotels to have a Business page on Google+. Those companies and organizations that have a Google+ page will be given first preference in Search results. Not only that, there is a real revenue Issue as follows below.
An active Google+ page will be given preference in appearance on Search. The most popular travel Search is ‘hotels (X)’. If a meeeting or travel planner is trying to get an idea of the hotels in a given market, those htoels with an active presence on Google+ will be gieven first preference in the sort on Search.
In addition, the hotel’s links, web sie and interaction with it’s circle will appear. This is very compelling as it allows instant interaction with the hotel and the hotel’s web site. They will have an opportunity to gather information, and send an instant RFP if there is one on the web site — all of that right there in one location – one platform!
Here’s how it works. Next to each entry on the results section of the Search page, there are two arrows. If you don’t have a Google+ page, when you mouse over the arrow it will show the map and the hotel’s Google Places page. If you do have a Google+ page, the arrows will show the hotel’s web site.
What does this mean? The Google Places page if a customer clicks on it will show a widget that asks for dates and will show rate results in a drop down that will have all of the OTAs listed first with the web site link at the very bottom.
The advantageof the Google+ search showing the web site is that the customer can click on the site, interact with it and make a reservation right there using the hotel’s web site booking engine.
25-35% commission on all reservations made using the OTAs on the Google Places page verus 0% commission using the hote web site booking engine? No brainer!
There is a lot more to this development — keep checking back for the latest on the Google+ issue
December 19, 2011 at 4:20 pm | Posted in Uncategorized | Leave a comment
Tags: hotel revenue management, hotel sales, hotel sales training, social media, social selling
We all have things we meant to do, wanted to do but didn’t doin 2011. Here are 5 resolutions for 2012 that are easy to keep:
1. Get supremely organized (my personal resolution!)Will this be the year that you (and me) finally do this?
2. Set goals for your activty so you can achieve your revenue goals. I love Google calendar for this as I can color code every type of activity to ensure everything is done!
3. Develop and implement a social media system to ensure that you are maxmizing opportunities. There are a few on the group Linkedin Strategies – my favorite is 7 Steps to Make LinkedIn work.
4. Prospect like crazy! Set a goal to identify X number of new prospects each week and stick with it!
5. Celebrate success – both yours and that of others! Don’t let pride get in the way of asking others how they do things well in areas you want to improve on. Find a mentor!
Let us know through your comments what resolutions you would add.
December 1, 2011 at 7:17 pm | Posted in Uncategorized | 2 Comments
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: hotel revenue management, hotel blog, hotel sales.hotel revenue management, Facebook, boutique hotels, small and independent boutique hotels, small independent historic hotels, small independent and boutique resorts, real simple Remote Revenue Management
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
February 3, 2011 at 10:31 pm | Posted in Uncategorized | 5 Comments
Tags: hotel sales, hotel revenue management, hotel industry, hotel blog
I have been talikng about social media as sales tools for a long time. It now has a name — Social Selling.
In a recent survey by OgilvyOne of 1,000 sales professionals all over the world the question was asked How Important is the Use of Socail Media in success as a Sales Person? 73% of the Chinese sales professionals agreed it was important while only 27% of their US counterparts indicated it was important.
Where’s the disconnect? Do the Chinese know something we don’t or are they just ahead of the curve?
Do you use social media in your sales processes and if so, how? If you don’t, why?
Log onto http://www.socialmediarevmaxonline.com to see if you think a better presence on social media is a good idea.
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