How to Raise the Bar on Your Hotel's Revenue Management Practices
October 11, 2016 11:22am
Here are five proven strategies to achieving a high market share index for RevPAR and ADR
By Justin Jabara
The responsibility of optimizing a hotel's revenue performance sits squarely on the shoulders of its revenue managers. It's a high-pressure job involving tracking, forecasting, pricing, analyzing availability, and optimizing channel distribution, and the results of this effort can keep managers and owners awake at night if not properly executed. Thankfully for Meyer Jabara Hotels, our revenue managers are sleeping soundly with most of the multi-branded and independent properties in the portfolio achieving 100% market share in revenue per available room.
Because Meyer Jabara Hotels is leading the industry in ADR and RevPAR, we’d like to share with you our secret to success. It stems from employing a highly skilled team of revenue managers who have become an integral part of our operation from the corporate level on down. Yes, our business practices involve optimizing the revenue performance of each asset through all market conditions, but our revenue managers are having a significant impact on bottom line results for our hotels.
Here are five MJH strategies to achieving a high market share index for RevPAR and ADR:
If as an owner you are losing sleep over your hotel’s revenue performance, it’s time for a change. You can try to put these strategic practices in to place yourself, or bring in a team of experts who can quickly turn your declining revenues around. Meyer Jabara Hotels is here to help.
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Justin Jabara is a third-generation hotelier and VP of Development and Acquisition for Meyer Jabara Hotels. With headquarters in Danbury, Conn., Meyer Jabara Hotels is an award-winning hotel management company owning, operating or leasing hotels and restaurants in 10 states throughout the eastern portion of the United States. The company was formed in 1977 as Motel Hotel Associates through the partnership of William Meyer, a specialist in real property law, and Richard Jabara, a second-generation hotelier. Their portfolio of hotels includes Marriott, Hilton, Sheraton, Crowne Plaza, Holiday Inn and Hyatt Place brands, as well as several independent hotels. The company culture, referred to as "The Journey," is considered by Meyer Jabara Hotels to be their strongest competitive advantage because it challenges and encourages each team to create special relationships, or heart connections, with the key stakeholders: business partners, associates and customers. For more information on Meyer Jabara Hotels, visit www.meyerjabarahotels.com.
Contact: Barbara Worcester
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