Opportunities in Hotel Revenue Management - The Uncertain Summer of 2009
Depending on which survey you access, leisure travel is rebounding this summer. According to a Trip Advisor survey that of "U.S. Travelers - Nearly 90% Taking Summer Vacation, 27% Taking More Time than Last Year." (Hotel Resource, 5/26/09). YPartnership estimates that two thirds of Americans will take a leisure trip this summer. (South Florida Business Journal 4/07/09). In addition, surveys show that consumer confidence is on the rise. This is good news after STR reported that Q1 was the worst drop in REVPAR since Q4 2001.
What can revenue managers do to ensure their share of this business and maximize market share and REVPAR opportunities? "There is a lot that revenue managers can do to put strategies in place that they can manipulate depending upon demand levels and short lead bookings. As well Social Media is becoming an important promotion strategy that we will explore in this program," Says Carol Verret.
$109 for Single Connection
$99 for two or more connections from a hotel or management company
In this web cast we will focus on strategies to put in place now before it's too late to be effective:
- The Value Driven consumer - positioning the rate and offering to appeal to ‘niches' of value driven leisure travelers.
- Social networks - Using social networks to market leisure packages and promotions.
- The Online Travel Agencies - Optimizing the mix of transparent and opaque channels.
- Measuring the success of online strategies -- ROI by channel and/or the Return on Engagement from Social Media.
- RFPs - We include this as consortia are moving into negotiation season and preliminary indicators are that it will be brutal in terms of rates - why quoting rates too far into the future is risky strategy.
Who should attend -- Revenue Managers, Directors of Sales and General Managers. Why? Revenue management is a team sport and this summer will be challenging for the RM team.
The web cast will take place on June 26, 2009 at 10:00am PDT, 11:00am MDST, 12Noon CDT and 1:00pm EDT. The fee is $109 per connection, $ 99 for two or more connections from the same hotel or Management Company!
Check out the new Online Learning Lounge for links to recordings of previous web casts, the online training module and Free Stuff! Click Here.