Many hotel companies are revising their budgets and plans for 2009 in light of the deepening economic downturn of the last quarter.    We have updated this web cast to take those developments into consideration.

• Rates and REVPAR.  While owners are pressing for increases due to increased costs, we will explore how to evaluate rate setting using market intelligence from various sources.
• Channel Management.  Where is the rate and revenue going to come from?  Which channels have the strength to generate new demand and revenue?
• Sales and Marketing.  Responding to shifts in the market, what segments have the potential to produce new business?  How to read, evaluate and solidify relationships with current accounts in order to maintain and/or increase revenue from them. This will be key to thriving in the current economy and for positioning when the economy begins to recover.
• Allocation of resources, both monetary and human.  There is a lot of pressure to cut sales and marketing budgets.  How to reallocate marketing dollars effectively will be critical.  The organization of the sales office may need to be retooled to maximize sales effectiveness given changes in the group markets.

Revenue Managers are challenged as never before with demand slipping at double digits.   This web cast will explore tactical processes for revenue managers to predict and stimulate demand at the property(ies).

• Rate versus occupancy - managing the competitive environment to avoid a downward rate spiral in rate in the market 
• Forecasting - as windows grow shorter, what reports and resources can be accessed to get  realistic  trending on demand in the market
• Evaluating all channels and developing a strategy to maximize revenue and minimize cost
• The online Travel Agencies - How can you use Expedia , Travelocity, et al, most effectively to sell unused inventory short term
• RFPs - how well are the consortia performing, as we move into negotiation season, what are their forecasts for 2009

The usual habits still apply but the current economic situation dictates that those habits need to be supplemented for the current economy going forward.   The most pressing of these is in the areas of predicting demand and projecting the ideal mix of business to maximize revenue. 

• Market intelligence.   We will explore which industry and specific market intelligence Revenue Managers need to build into their routines in order to get a clearer picture of demand trends and the impact for their markets.
• Changes in Consumer Behavior.   The impact of changes in consumer behavior has a profound impact on the ability to predict demand.   Understanding these changes assists in being able to project the optimal mix of business and the cost of sales.
• Rate and Revenue Increases.  As the latest STR reports seem to indicate a downward pressure on rate increases but this is not affecting all market segments.  How long will this last and where can you find opportunities to realize significant rate increases?
• Demand patterns.  There are changes in demand patterns across all market segments.  What are the factors driving them and how to account for them in forecasting. 

Many people request to know when these programs will be repeated so we try to make the most popular available at the end of the year - although we have never experienced as challenging a year as 2008 and likely the same in 2009. 

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.  Visit www.hotelsalesblog.com.