directing management
How to wean yourself off ‘hotel cocaine’
Hotel rooms are marketed and distributed to the proper channels starts with accurately forecasting future demand. A key component to a successful pricing strategy is practicing rate parity.
How hotels market and distribute rooms on the internet varies greatly just as hotels come in all shapes and sizes. Online travel agencies are a viable distribution channel that isn’t going away and hoteliers must continuously evolve their strategies to best take advantage. Firstly, experts suggest spending as much of the budget as possible on driving bookings to the band or individual hotel website. And, OTAs should be considered a supplemental revenue drive and smart hoteliers can manipulate the availability and price of rooms.
Ted Rusch said ‘’In terms of revenue management, you don’t have to be a rocket scientist to see you can’t be doing the same thing you did five years ago, I live by the theory that if I don’t change, I’ll get run over by the future.’’
Also, He said that It is a key for hotels to remain agile and monitor and make changes to rates and availability as or even before demand in the respective market shifts. When occupancy is dipping to unsustainable levels, get creative by selling on opaque sites or allowing OTAs to package rooms with air travel so guests can’t see the discounted rate and won’t expect that rate again in the future, he said.
‘’When you apply a rule there’s always an exception. Everyone wants a real simple formula to apply a strategy and it just doesn’t work out that way,’’ Rusch said.
Marketed and distributed to the proper channels starts with accurately forecasting future demands are for ensuring hotel rooms.
Alan Gonzalez said the normal frequency for revenue meeting is approximately twice a week, depending on the size of the hotel and how active the market is. Also he said The more frequently you meet the better, and you should discuss day to day as far as three months out.
A key component
Hotel rooms are marketed and distributed to the proper channels starts with accurately forecasting future demand. A key component to a successful pricing strategy is practicing rate parity.
How hotels market and distribute rooms on the internet varies greatly just as hotels come in all shapes and sizes. Online travel agencies are a viable distribution channel that isn’t going away and hoteliers must continuously evolve their strategies to best take advantage. Firstly, experts suggest spending as much of the budget as possible on driving bookings to the band or individual hotel website. And, OTAs should be considered a supplemental revenue drive and smart hoteliers can manipulate the availability and price of rooms.
Ted Rusch said ‘’In terms of revenue management, you don’t have to be a rocket scientist to see you can’t be doing the same thing you did five years ago, I live by the theory that if I don’t change, I’ll get run over by the future.’’
Also, He said that It is a key for hotels to remain agile and monitor and make changes to rates and availability as or even before demand in the respective market shifts. When occupancy is dipping to unsustainable levels, get creative by selling on opaque sites or allowing OTAs to package rooms with air travel so guests can’t see the discounted rate and won’t expect that rate again in the future, he said.
‘’When you apply a rule there’s always an exception. Everyone wants a real simple formula to apply a strategy and it just doesn’t work out that way,’’ Rusch said.
Marketed and distributed to the proper channels starts with accurately forecasting future demands are for ensuring hotel rooms.
Alan Gonzalez said the normal frequency for revenue meeting is approximately twice a week, depending on the size of the hotel and how active the market is. Also he said The more frequently you meet the better, and you should discuss day to day as far as three months out.
A key component