I just have to get this of my chest, and share my latest experiences with you. I love it how many hoteliers complain about the fact that OTA are penetrating their hotel too far and are almost controlling their business. And not to forget the rants we hear about the ARR being too low. But sometimes we have to look at ourselves instead of blaming others. Some hotels just have to get their revenue management strategy in order, more than anything else.
In our last article with tips on pre-opening a hotel we focused on PR, the website and SEO. We will now expand our pre-opening checklist with key points concerning revenue management, distribution, reservations, sales and the systems needed to make your success story complete.
The pre-opening phase of a new hotel is both a big challenge and a great opportunity at the same time. We are currently going through and preparing for the opening of new hotels in various destinations throughout Europe, and are working hard to avoid common mistakes made in this process. We have listed some of our hotel pre-opening tips below.
Does this type of revenue management conversation sound familiar?
GM : 'Thank you for showing us the numbers, but I really believe we have to hold the rates.'
RM : 'But the trend show we are behind in our business on the books.'
GM : 'Trust me, I have experience. I know this city, these rates will sell, we will do fine.'
RM : 'But ...'
GM : 'That is my final decision. Let’s move on.'
The independent hotel portfolio of Xotels reports strong REVPAR results for the first quarter of 2012. Both January and March showd growth across the board, where February more or less flat vs. 2011. The forecast for Q2 2012 is very promising and looks to bring us record revenues.
The most effective way to be really successful in business is by challenging the status quo. Especially in a highly saturated industry like hotels, to compete and outperform the market you need a disruptive business model which delivers on a level competition cannot reach. There are many options to disrupt your local hotel market ...