A full Hotel is a Happy Hotel

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Increase your bookings and start seeing smiles everywhere

Revenue Management can help hotels to:

  • Assess future consumer behaviour under dynamically changing market conditions.
  • Determine the most effective way to price and allocate inventories to reach each and every future consumer.
  • Communicate this data instantaneously to hotel distribution outlets.
  • Serve as a decision-support system for operational functions, such as pricing, reservations and marketing.
  • While information technology is a key part of revenue management, it is more important to first establish sound Revenue Management principles and cohesive managerial structures and to abide by them, and then evaluate and invest in decision support tools and systems that will fit into those processes.

In General:

  • Ensuring rates are bookable for a rolling 12 months
  • Ensure you have retail rate choices that are competitive for both the business and leisure customers - use fencing or rules to keep business customers paying appropriate price point and leisure at a competitive price point
  • Create packages that make sense for your market and analyse production to ensure the packages are meeting the needs of the customer segment - if they are not buying - is it marketing related or not the right package elements?
  • Negotiated rates should be loaded for 15 months to avoid rates going "dark" during RFP and/or acceptance process - and proposed rates pre-loaded during RFP process
  • Room cost analysis to determine profitability of different sources of bookings
  • Is your guarantee/cancel policy competitive? Shop your competitors to ensure you are not too lax or too restrictive with your general policies
  • Ensure the guarantee and cancel policies are consistent across channels and websites
  • Ensure front desk agents are trained to overcome the question of "is there a lower rate available?" at check in to avoid rate trade down

For Assistance and Strategic advice on: Rate planning and availability; Rate structure both corporate and leisure; Positioning in the market place; Developing travel agent relationships; Maximising returns; Corporate rate loading and RFP’s; Consortia development; please contact us at support@navarinoservices.com.

Contact us to find out what we can do for your hotel

Latest News

Tuesday, April 18, 2017

Small Hotels Boost Business with Loyalty & Reward Programs

Loyalty and reward programs can help make up the difference between having average occupancy rates or a fully booked calendar. In fact, according to Phocuswright April 2015 report, (Dis)Loyalty and the U.S. Leisure Traveler, “62% of frequent travelers used hotel loyalty programs.” So, if the majority of travelers are taking advantage of these, shouldn’t your hotel be on board to offer one as well?

According to Cornell University’s School of Hotel Administration study, Assessing the Benefits of Reward Programs: A Recommended Approach and Case Study from the Lodging Industry, we also know that “the number of annual room-nights for each guest increased by nearly 50 percent,” and that “such frequent traffic resulted in noteworthy revenue gains per year—up 57 percent.”

Yet, small hoteliers often dismiss loyalty programs as tools of leverage for the already mass-marketed hotel chains. I’m here to dispel that rumor because there are many ways that independent properties can benefit; they just need to know where to start.

Here are four great ways small hotels can (and do) boost business with customizable hotel loyalty programs. Read More »

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Hotel Blog

Thursday, May 18, 2017

The Upside Of Independents

A handful of hotel owner and operators with varying portions of their portfolios represented by independent properties convened for a panel during the recent ILES (Independent Lodging Executive Summit) in Las Vegas and assessed the current market for non-branded assets.

Held at the Hard Rock Las Vegas, the event was co-produced by Hotel Interactive® and blended BITAC®’s one-on-one meetings format with the more traditional ILES trade show experience. In a panel entitled “Managing To Increase Asset Value,” the executives weighed in on everything from financing to best practices among independents.  Read More »

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Booking Tips

Check the Failed Availability Report for reasons why people who have looked at your hotel have not made reservations. (This can be according to availability, minimum stay restrictions or room inventory for example.)

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