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. . �It�s not the big that eat the small, it�s the fast that eat the slow� Five Revenue Management Tactics
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(Jennings & Houghton, 2005). For independent hotels that�s good news. Independent hotels and resorts may not have all of the resources available to them that their franchised counterparts do but they have the advantage of greater flexibility � independents can gear up or down in a flash! There are some challenges ahead this summer that need to be monitored for their impact in specific markets. PriceWaterhouseCoopers have predicted that 2007 summer will be a record year for the number of occupied hotel rooms; however, ��The summer occupancy in 2007 is forecast to be slightly lower than 2006, 69.6 percent, � and approximately a percentage point below the 70.2 percent occupancy in 2006.� In addition the study goes on to say that the price of gasoline is finally taking a toll American�s travel habits. �� The price of gasoline will result in approximately 8,000 fewer occupied rooms per night, or 0.2 occupancy points.� An 8,000-room decline spread nationwide does not appear to be a lot but for hotels that operate in markets that are seeing significant new supply, the impact on the market will be more profound. As the demand number becomes more delicate, it was inevitable that �there is also emerging price resistance following hotel average daily rate increases of 5.5 percent and 7.1 percent in 2005 and 2006.� There are five basic revenue management tactics that independents can
implement to be nimble and responsive in the face of changing demand and
rate patterns:
While there are many other components of a good revenue management and
distribution strategy for independent hotels, these are five daily disciplines
that can be implemented immediately to maximize the revenue opportunities
from the demand in your market.
Carol Verret And Associates Consulting and Training offers training services and consulting in the areas of sales, revenue management and customer service primarily but not exclusively to the hospitality industry. To find out more about the company click on www.carolverret.com. To contact Carol send her an email at [email protected] or she can be reached by cell phone (303) 618-4065.
Carol Verret And Associates Consulting and Training offers training services and consulting in the areas of sales, revenue management and customer service primarily but not exclusively to the hospitality industry. To find out more about the company click on www.carolverret.com. To contact Carol send her an email at [email protected] or she can be reached by cell phone (303) 618-4065. copyright © Carol Verret, 2002-2003 -2004 -2005 - 2006 - 2007 |
Carol Verret 5910 S. University #C-18, PMB 374 Greenwood Village, CO 80121 Telephone: (303) 618-4065 [email protected] Web Site: http://www.carolverret.com/ Email: [email protected] |