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The “Hole” in Whole Hotel Revenue Management

 
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FT LAUDERDALE – June 17, 2009: Competitors’ rate information is a critical component in designing a successful revenue strategy. Finding out the competition pricing for transient rooms is a simple task and there are many services that can provide access to those rates.
 
However, competitors’ group rates are another story. These rates do not exist in any publicly accessible electronic format and are usually subject to considerable negotiation. This information is the most difficult piece of competitive intelligence to obtain and can only be uncovered by “shopping the competition.” Without good market intelligence on all rate categories it is impossible to develop a whole hotel revenue strategy.

In a survey conducted in early 2010, almost 70% of properties questioned attempted to “shop the competition” on their own at least once per month. The challenge is that most property Sales Departments will not provide quotations unless they believe the inquiry is from a bona-fide customer. It is not possible to get competitor’s rates using quickly made up fake company names and Gmail or Hotmail email accounts.

Quality Track International now offers GroupMetrix, the most comprehensive and cost-effective competitive set group rate shopping service.  GroupMetrix can provide authenticated and verified group and meeting rates for future arrival dates for any hotel in the world.

Don  Bundock, President of Quality Track International, says “The GroupMetrix group rate shopping service creates elaborate corporate identities to facilitate realistic shop calls to obtain competitor’s rates.”  GroupMetrix shoppers employ complete shopping identities and profiles which include:
  • A realistic company name, supported by:
    • A professional looking, fully functional website for the company making the inquiry
    • Call-back telephone numbers that match the website contact information
    • CallerID display that matches the call-back number being provided
    • Legitimate email addresses that correspond to the web domain of the shopping company website (not Gmail or Hotmail accounts)
    • Live call-backs and personalized voice-mail for messages
Customer Price Resistance:  Real customers do not accept the first rate offered. Real customers “push back” on pricing and so do GroupMetrix shoppers.  Armed with highly believable shopping identities, GroupMetrix shoppers are able to effectively offer price-resistance and discover the true rates that competitors are offering.

The rates offered in response to the price-resistance, and the amount by which the rates are decreased, provide valuable insight into competitor’s rates and pricing strategy.

GroupMetrix CompSet Group Rate Reports
include all the rate components that factor into a group or meeting quotation:
  • Room rates and inclusions
  • In-room internet
  • Catering (breakfast, breaks, luncheon and dinners)
  • Meeting room rates, (per person rates if applicable)
  • AV rates (LCD, Screen, audio equipment)
  • Meeting room internet rates
  • Minimum F&B guarantees
  • Complimentary rooms, upgrades and master bill discounts
The rate reports include the initial set of rates offered plus any rate reductions resulting from the rate-resistance.

The GroupMetrix service includes 2 rate shops per month on each of 4 competitors, for a total of 8 rate shops. Each rate shop is price challenged, creating an additional set of 8 rates.

The total cost is $129 per month, which is only $8 for each set of rates.

Click here to view a sample GroupMetrix rate report -  Sample Report

Click here to view a short online presentation - Online Presentation

For additional information click here – GroupMetrix FAQ

About Quality Track International, Inc.:  Quality Track International, established in 1998, is a leading worldwide provider of a full range of mystery shopping services and PCI compliant call center monitoring to the hospitality industry.

GroupMetrix is a service provided by Quality Track International.

For more information
contact:  Mr. Donald Bundock, CEO, Quality Track International, Inc.,
Telephone: (416) 693-5426 or by email at Don.Bundock@QualityTrack.com

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Contact:

 Quality Track International

Head Office:
36 Toronto Street, Suite 850
Toronto, Ontario, Canada
M5C 2C5
Telephone: (416) 693-5426
Email: Sales@QualityTrack.com

US Office
3389 Sheridan Street #10
Hollywood, Florida 33021
Telephone: (954) 432-2998

http://www.QualityTrack.com

 
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Also See: Free Forward-Looking Compset Group Rate Reports; Complimentary one-month trial GroupMetrix subscription for the first 50 responders / June 2010

Analysis of Group Proposals Indicate Market Improving; Review of 1,200 group proposals show future rates and occupancy up, discounting down / June 2010

Free Forward-Looking Compset Group Rate Reports; Register by May 21st for a complimentary one-month trial GroupMetrix subscription / May 2010

Free Group-Pricing Webinar; In less than 15 minutes see how GroupMetrix can transform your group pricing strategy, help you close more group sales and increase profits / February 2010

New Service Provides Forward Looking Competitive Group Rate Reporting and Analysis / December 2009

Going Rogue on Group Pricing; How to Compete with Irrational Discounting / November 2009

Electronic Proposals - Easy for Sales Managers, Frustrating for Customers; Pretty pictures are no substitute for substance / November 2009

What is really going on with group rates? How to obtain critical competitive intelligence / November 2009

28% of Group Sales Inquiries are Lost, Ignored or Abandoned / May 2009

Quality Track’s 2,000,000th Mystery Call Received by Mandarin Oriental, New York / April 2009

Quality Track to Celebrate 2 Million Mystery Shop Calls / April 2009

Green Up Your Training. Improving Performance and Saving the World / December 2008

The Upside of a Downturn; The need to cut costs creates push to consider alternatives / November 2008

Downturn Dilemma; How to save money on training without sacrificing performance / November 2008
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