revenue management services

Transcription

1 revenue management services

2 Increase Profitability with Revenue Management services Grow market share, increase RevPAR Index and produce accurate forecasts with Sceptre Revenue Management services. Sceptre Hospitality Resources provides a revenue management service that goes beyond yielding rates and inventory. Our programs focus on establishing relevant strategies with long term goals and short term tactics that optimize property revenues. With real-time decisions made by revenue specialists that understand your market, your hotel is able to compete more effectively and achieve revenue goals with greater forecasting accuracy. Sceptre revenue specialists are able to continuously monitor market changes and fluctuations in demand, pricing and inventory to make real-time adjustments that increase occupancy, ADR and RevPAR Index. RATE STRATEGIES MARKET SHARE RevPAR Channel Strategies and Management First we determine your hotel s most profitable channels and then we maximize conversions through each of those channels. Your Revenue Specialist works with your hotel leadership to produce effective budgets and forecasts. This high level of service customization provides your hotel with accurate forecasting and more importantly market share gains. We move beyond price and inventory yielding by focusing on overall revenue optimization and RevPAR index gained. This balances channel inventory management, rate strategies, booking pace and market segmentation opportunities with your overall hotel sales and marketing effort. HOTEL INVENTORY SCEPTRE REVENUE MANAGER BAL ANCES DEMAND CHANNEL STRATEGIES Rate Strategies and Management Rate and yield strategy management is based on a combination of in-depth data analysis and timely, well-informed action, but most importantly, realizing that developing the right solutions are not based on a standardized approach. Sceptre has the bandwidth and ability to work with your individual property in order to create and recommend customized rate strategies and management solutions for the hotel. Sceptre knows what to focus on beyond RevPAR, profit management, and the hotel s sales mix. Your Revenue Specialist will conduct an internal review of the hotel s inventory, previous rate performance, and technology. Sceptre has the expertise, the resources, and the tools to remediate revenue issues. Through research and analysis of a client s marketplace and competition on local, regional, and global levels, current rate strategies and competitive rates will be evaluated, and strategic action plans (from annual to 30/60/90 day plans) will be created based on the findings. And that s only the beginning. sceptre revenue management programs catered to your hotel requirements Standard Our standard program is the staple of our business and aimed at optimizing performance. It is the foundation of our service levels and is ideal for select hotels and partners new to the Revenue Management discipline. Advanced Delivers standard and intermediate services and adds group support service and group business evaluation. Intermediate Includes our standard platform, and adds more robust annual strategic planning support, and ecommerce services. The intermediate level is ideal for city center or suburban select service hotels, or full service hotels with limited or no meeting space. Oversight Sceptre has had the privilege and experience to serve clients in many ways. In addition to our core revenue management and connectivity services, we also specialize in oversight support, and can provide consulting services based on our customers needs.

3 case study With 651 guestrooms and located less than 2 miles from the entrance to Walt Disney World Resort, this hotel has been repositioned because of a plethora of new mega resorts and overbuilding within the area. To continue to grow top-line revenues and capture the greatest possible share of the market, Sceptre implemented a new revenue management practice in which pricing and marketing strategies were maximized in all channels through effective promotions and thoughtful inventory management. Within the first three months of this program, the hotel achieved 154.6% occupancy index and not only leads in RevPAR gains with a 130.8% RevPAR index, but occupancy as well. Lakeside, Florida Your Revenue Management Team Sceptre Area Revenue Specialist Organizes data Prepares comparisons Enters trend data Researches online presence Plots rank & placement Conducts market shops Compiles data for reports and owner representatives Revenue Analyst Reviews & analyzes hotel data Weekly management calls to review accomplished items, issues, report findings, next steps Prepares owner updates & weekly roll-up reports Manages special requests

4 The on-boarding process includes: Initial transition call Property to provide: Annual Business Plan, STR Reports, brand reports, business intelligence, room segmentation, and P&L. Initial Property Visit (Within 60 days of transition) Strategic meeting between both teams to insure trust-building and information sharing. Comp Set and market demand generator tour and review. Required On-boarding Process: Standard Intermediate Advanced 1 day remote 3 days remote 3 days remote + 3 days visit

5 Sceptre REvenue Management programs Transform your business and capture more market share by making informed decisions with real-time data and proven experience. Sceptre helps hotels connect, capture and convert more bookings through its revenue management services. Choose from three programs to suit your hotel requirements. Revenue Management Services Standard Intermediate Advanced Positioning and Planning On going measurement & analysis Weekly strategy calls Rate strategy and development Review of tiered and premium rate strategies STR review, measurement & critique Review of future pace and demand trends Review of booking activity Inventory Management Real time inventory management On line distribution & GDS management and review Rate implementation and strategy review HOD screen optimization Opaque positioning and review Review of weekly shop reports Work with front office to support 'day of' selling optimization e-commerce Support Update brand website content Review of website analytics Manage OTA Market Manager relationships Sceptre Monthly Reports Review and deliver the Sceptre Revenue Scorecard Review and deliver the Sceptre epva Forecasting Support property monthly and weekly reporting process Financial system input responsibility of property Annual Planning Support property team in developing annual plan Review Consortia performance and opportunity Develop Strategy with property team Work with DOS to review and develop annual RFP positioning Marketing Support Develop GDS marketing budget and strategy with property Develop SEO, SEM, PPC budgets and strategy with DOS Review and discuss social media positioning and tactics Business Evaluation* Coordinate base business review and analysis as needed Review group business with property team Support DOS in defining group strategy Mid Year Visit: For annual plan discussion and RFP strategy development One Additional Visit/Year: Based on need with no additional expense to property Pricing and real-time availability on revenue management professionals based on services

6 Begin now by requesting a sample of the Sceptre Revenue Scorecard for your hotel. What is needed to generate the Sceptre Revenue Scorecard for you? Name, location and website url of hotel Top 5 competitors Most current STR report As a reminder, this is a sample scorecard and data will vary based on availability of reports. Revenue management has contributed millions to the bottom line, and it has educated our people to manage their business more effectively. When you focus on the bottom line, your company grows. Bill Marriott Jr.*

7 revenue management Program Features Dedicated Support Team Ongoing Progress Reports Customized Programs The Sceptre revenue management service appoints revenue professionals with proven pedigrees of improving top line revenue and growing market share within your hotel s service category. We optimize your revenues by managing the following on a real-time basis: Supply and Demand Market Position Demand Indicators Booking Pace ecommerce Visibility Online Reputation Sceptre deploys highly experienced professionals to work directly with your hotel on a remote basis. This provides you the benefit of highly skilled talent without the overhead expense. Your Sceptre RMS professional tethers into your system and works with your leadership team both on a scheduled and on-call basis. Unlike other remote revenue management services, Sceptre believes market share gains are realized when the revenue management team has the ability to focus on fewer hotels. This is why Sceptre limits the number of properties assigned to each of its Revenue Managers who are also supported by a team of data analysts, systems, training programs and senior leadership. This team works to create monthly reports that measure the success of your hotel through the following: Revenue Scorecard Sceptre provides an analysis that evaluates the hotel s rate, channels and online presence versus its competitive set. Within the Sceptre Revenue Scorecard, observations are made utilizing various online resources and recommendations are made to maximize revenues and improve overall marketing and revenue management. ecommerce Price / Value & Online Reputation Analysis (epva) Sceptre provides the epva tool that visually shows your hotel s true value placement compared to the competitive market set. The analysis is provided in separate graphical images, comparing placement in the following areas; Online Room Rate (Weekend and Weekday), Consumer Quality Index, and RevPAR Indices. Besides receiving the Revenue Scorecard and epva, your Sceptre Revenue Specialist will also provide you with an online reputation analysis and ongoing assistance with forecasting and budgeting in alignment with your hotel operations and owner expectations. Sceptre offers varioius levels of revenue management services to provide a detailed look at initiatives that your Revenue Specialist will deliver to meet your goals and expectations for revenue maximization and profitability. Owner Portal The Owner Portal provides Sceptre hotel owners with access to Properties & Principals (P&P), where they can retrieve hotel reports, updates and activities. Hotel reports include the monthly Hotel Revenue Scorecards, epvas, as well as STR reports received and any other monthly commentary. It is your direct web link to what is happening at your properties. Sceptre revenue management specialists are experienced in all brands and market segments, as well as with independent properties and multi-property operations. * quoted in Robert Cross book

8 Getting Started with Sceptre Let Sceptre support your leadership team by ensuring that your hotel maximizes every revenue channel at just the right time and at just the right price. Sceptre understands the difficulties and challenges you face and enables you to achieve your revenue goals professionally and cooperatively. As an extension of your property level or regional/corporate staff, Sceptre works seamlessly to facilitate a comprehensive program that ultimately provides you with: A greater view of your property within the comp set Improved performance on all channels Long term growth increasing your property s top-line revenues info@sceptrehospitality.com visit: call: Sceptre Hospitality Resources, Inc. All rights reserved. 6021