NAVIS Launches Competitive Edge Calculator to Help Hotels and Vacation Rental Management Companies Uncover How Much Revenue They are Leaving on the Table
May 17, 2016 2:55am
Improving your team’s ability to convert existing demand may be the holy grail for lodging providers to increase profits; interactive new tool offers insights into cost of missed opportunity
BEND, OR (May 17, 2016) – The cost of lost opportunity can have a significant impact on any organization, but this is especially true for the hospitality market. Today, NAVIS, the leader in innovative technology solutions for hotels, resorts, and vacation rental companies, announced the launch of their new Competitive Edge Calculator, a tool that makes it easy for lodging providers to analyze the revenue they are likely missing out on within their existing demand. The calculator is designed with customized preferences for both hotels and vacation rentals, and powered by a data-driven algorithm built on more than ten years of industry performance data.
“Uncovering how much revenue a hotel or vacation rental may be missing based on existing demand can be game-changing,” explains Michelle Marquis, Vice President, Sales and Marketing at NAVIS. “This is often where we see an ‘aha moment’ for lodging operators of all types. If a property is only converting twenty percent of their inquiries, what are they doing about the other eighty percent? Capturing reservation inquiry data and then leveraging the power of personalized remarketing can radically transform your ROI. The most successful operators realize that it’s less about generating additional demand and more about working to enhance their team’s performance.”
The NAVIS Competitive Edge Calculator illuminates that lost revenue based on property statistics and performance. This first of its kind interactive tool offers options aligned with different property types to fine-tune the results. Based on the selections, the built-in backend formulas are adjusted to influencers such as direct vs. distribution channels, associated commissions, and other key contributing factors.
“Too often, the sole focus is on driving more leads by pushing out more promotions or packages, rather than capitalizing on the investments made for existing demand,” adds Michelle. “With decades of research and mountains of data, we discovered that to maximize profits and guest lifetime value, lodging providers need to do a better job of capturing every direct inquiry and remarket to those who didn’t book as well as engage their past guests.”
Of course, using the Competitive Edge Calculator is only the first step. NAVIS has a skilled team of consultants to provide an in-depth business evaluation, taking into consideration all the unique elements of a property. This process takes into account the distribution mix, commission structures, databases, CRM, PMS systems, and marketing budget.
Are you a hotelier or vacation rental manager curious about how much your existing demand is worth to your company’s bottom line? Try the calculator for yourself and play around with the numbers to see all the money you may be leaving on the table. To set up a time with a NAVIS industry expert to get a more personalized calculation - fill out the form that appears below your calculation results, or call us at 1.866.712.3439.
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NAVIS is an award-winning hospitality technology company trusted by leading independent resorts, hotels, and vacation rental brands to create and convert more demand across all channels, resulting in dramatic growth in revenue and profit. NAVIS clients make better sales and marketing decisions based on accurate, real-time data and uncover previously hidden profit sources. With a full suite of integrated solutions that capture guest and prospect data, track key revenue and performance metrics, and provide 24/7 reservation call center services, NAVIS helps operators increase occupancy and maximize rates while lowering costs. The company has recently been named Top Workplaces in Oregon for the fourth consecutive year. To learn more visit www.TheNavisWay.com.
Contact: Kelsie Skinner, Sr. Marketing Manager
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May 18, 2016 8:51am
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