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. . The Jigsaw Puzzle � The Fit of the Revenue Management and Internet Group Sales Pieces . |
April 2, 2007 - A recent study by
HSMAI and PhocusWright suggests that the meetings market will be very strong
in 2007. However, they also indicate that �Groups and meeting inventory
and rates must be centralized and well integrated into other core systems,
including hotel property management, revenue (yield) management, central
reservations, customer relationship management, e-commerce and dynamic
packaging.�
The study goes on to say that meeting planners are using more internet platforms to locate the venues and pricing. In another study by the same company, it was indicated, ��this year for the first time online transactions will account for over half of all U.S. travel bookings.� Typically, the management of online distribution sites was the territory of the Revenue Manager and group bookings was the domain of the sales department. It would appear that the two have converged � it is even more important than ever for the two pieces of the puzzle to have a seamless interface. The sales department has typically focused their efforts with clients and potential clients on personal relationship building. This is the first time that there is statistical documentation of customer behavior to indicate the relationship with the hotel is likely to begin without any contact from the sales department. Group rates were a negotiated piece between the sales manager and the planner � not necessarily kept secret but hardly transparent either. The new study would seem to suggest that group rates would have to become more transparent to the consumer if they are to be loaded into e-commerce platforms, central reservations and Internet meeting sites. This requires the seamless integration of sales and revenue management strategies and tactics. That sounds good but how do you actually execute this at the property level?
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. Watch for second I Hate Cold Calls Web Cast April 20!
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] |