September 27, 2012
By: Colleen Foligno, Area Director of Revenue Management
We are always looking for a way to grow overall ADR.
Be sure not to overlook the way you price your “premium” room types. It is important to analyze if you are actually selling these premium rooms or are guests being upgraded into them at no additional charge? Review the price difference between your standard rooms and premium rooms – is there too much of a gap? What does the guest get for that additional room fee? If your analysis reveals that the premium rooms are not selling, it may be time to reevaluate that pricing strategy. (more…)
July 15, 2011
By: Teresa Stowell, Area Director of Revenue Management at Sceptre Hospitality Resources
As learned years ago in Marketing 101, value refers to the perception of benefits received. In the hospitality industry, our customers pay a price for a hotel experience- it is what they give up to stay at a specific hotel. Value changes as the price and benefits change – making perceived value and price points connected.
Thank heavens trends are showing today that travel demand has increased. Yeah! It could be exactly the time to consider driving rate. I say “could be” because if the experience a hotel is providing is poor, increasing a price may not equate to the results hoped for.
So, how do we know when the time is right? (more…)
July 6, 2011
By: Mike Otten, Director of Business Development at Sceptre Hospitality Resources
Introducing and selling reservation connectivity services to hotels is all about revenue generation to the hotel owners and managers alike. Most clearly understand that driving revenue has become more difficult and more competitive. Flagged and branded properties are able to employ their usually vast marketing resources to support properties directly and through a myriad reservation channels. Independent properties aren’t often as lucky. As we at Sceptre know, an online presence stimulates business and web bookings and is crucial to the success of a property’s overall business strategy. However, when introducing and selling connectivity services to an independent hotel, it isn’t always as clear to the owner or general manager exactly why they should move down certain paths. (more…)
April 14, 2011
By: Eric Simonich, Strategic Revenue Director at Sceptre Hospitality
Everyone receives those pesky auto generated emails from an online travel agency (OTA) stating the hotel’s rates are not in parity and a better rate is found on another website. From time to time you might receive an email or have a long phone discussion with someone stating rates have no integrity. So what is the difference and why should you care? (more…)
January 19, 2011
By: Mona Ingram, Vice President at Sceptre Hospitality
Now that the New Year is upon us, we look forward to what the 2011 economy will bring.
The latest economic indicators have analysts suggesting that things will get better.
According to a January 3, 2011 Gallup poll, people as a whole are becoming more optimistic. Twice as many Americans think the U.S. economy will be better, rather than worse, in 2011. Furthermore, tracking results showed that consumers only became increasingly optimistic about the economy as 2010 came to an end. Proof was in the Christmas shopping season, which saw a surge of spending. On the other hand, the Gallup poll also suggested that while people are optimistic about the U.S. economy, they are not as hopeful for their personal finances. The unemployment rate will remain frustratingly high, even though there is some improvement, and it will probably continue to hover around 9%. (more…)
January 3, 2011
By: Paul Wood, Senior Director of Account Services at Sceptre Hospitality
In the world of Revenue Management there is a clear and concise difference between ‘channel’ and ‘segment’. As a clear definition, a channel is where the reservation comes from; a segment is the reason why they are coming. (more…)
October 20, 2010
By: Sceptre Revenue Specialists
Today’s revenue managers face many challenges. One of most daunting challenge is in gathering and managing data that come through the myriad of systems and booking channels; extranet channels, like the online travel agencies (OTAs), Global Distribution Systems (GDS), direct call in, website bookings, or group bookings. (more…)
September 17, 2010
By: Scott Dahl, Executive Director of Sales, Marketing, and Revenue Management at Sceptre Hospitality Resources
I have been a Revenue Manager for a really long time. I did it at several hotels when the title was still Reservations Manager. I was in Omaha for the roll-out of Marriott’s very first yield system. For anyone else lucky enough to have been there, that was the meeting that featured the theme song “Got My Mind Set On Yield”, set to the tune of the similarly titled 1987 George Harrison hit. Either someone really liked it or it cost a lot to have it made, because they played it so often that I can still sing every single word. I was managing revenue when I was single, right out of UMASS, and now my oldest son is driving. I have been a Revenue Manager for a really long time. (more…)
