Event Planner Spain, organisation d'événements en Espagne et Maroc Idées et ressources pour événements et réunions en Espagne et Maroc
Over 1,500,000 page views in September
Newsletter (15,000+ abonnés) Event Planner Spain mobile version RSS Event Planner Spain
 Recherche d'Hôtels
 et lieux de réunion
 Recherche d’Agences
 Évènementielles
 Prestataires
 Événementiels
   Services
Event Planner Spain, organisation d'événements en Espagne
Toutes les catégories
La Roca Village. Expérience Shopping: La Roca Village Barcelona, shopping outlet de luxe idéal pour événements corporatifs, Espagne
EIBTM 2014

The Global Meetings & Events Expo, Barcelona 18-20 November
The Global Meetings & Events Expo, Barcelona 18-20 November

Articles intéressants
Ten Transformative Meetings Technology Trends for 2015 Ten Transformative Meetings Technology Trends for 2015 ...
Ticket to Ride Ticket to Ride ...
The Top Ten Questions to Ask Your Online Media Agency The Top Ten Questions to Ask Your Online ...
Make Your Meeting Go Viral Make Your Meeting Go Viral ...

Hotels Are Poised To Reboot & Refresh Their Rate Structures - Getting Back In The Game

Envoyer cette nouvelle a un ami
Share to Facebook Share to Twitter Share to Digg Share to Delicious More...
Hotels Are Poised To Reboot & Refresh Their Rate Structures - Getting Back In The GameI’ve read several articles lately which discuss rate building post recession. At least one of those articles provided suggestions which are completely opposite of acceptable revenue management principles. So, before you blindly follow some of those suggestions, consider committing to revenue management. My sense is that there is still considerable confusion, among independent hotels and some sales advisors, about the actual implementation of RM.

For hoteliers who reduced their rates during the recession, revenue management should play a significant role in their rate recovery. These hotels are in for a real struggle in their effort to recapture profitable rates. This effort will be greatly enhanced if they adopt basic rate development principles and use revenue management.

Revenue management is based upon the general doctrine of supply and demand. Applied to our industry; available rates should increase, as room demand increases. I believe that this concept is misunderstood by some people; it refers only to rates which are made available for sale and should not be confused with actually "raising" rates. Setting rates should be a matter of setting a range of rates, high to low. As demand increases, lower rates are closed for sale.

Setting Rates Is an Art… Not Science
With revenue management, we are using past history, reservations on-hand, local area demand generators, and anticipated new reservation pick-up to calculate room demand for specific dates in the future. It is this analysis process which helps us to determine the proper range of rates to be set.

But rates should never be set in a vacuum; they should only be set after considering the market factors above and after you determine your hotel’s ranking in the marketplace. Please note that the quality of your hotel’s facilities and services should only be considered in relationship to your competition set. You’ll be quickly disappointed if your rates are much too high or too low for your hotel’s position in the marketplace.

Don’t be left behind in this process. People who don’t know your hotel will judge its value by your rates; rates that are too low or too high, as compared to your competition, will have a negative impact on sales. If travelers selected hotels by rate alone, the hotel with the lowest rates would be full all the time and we know that’s not happening.

Your hotel’s recovery will depend upon your ability to re-brand your hotel in the marketplace. A great tool, to begin this process, is a detailed SWOT competition analysis. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This tool will help you to define your hotel’s ranking as compared to your competition set.

This SWOT analysis is not simply a "brick and mortar" comparison. Some factors to consider are management and sales ability, services offered, location, TripAdvisor comments, etc.

Determine Your Competition Set
Determining your hotel’s competition can be a tricky proposition. It is best to do this by market segment. Some hotels may be very competitive for transient business, but are not competitive for leisure business and so on.

One market segment which is often neglected is online travel. This requires some time and dedication. Analyze what your competition is offering as far as location, facilities, services, and amenities and, just as important, how they present them online. Does your website compete with your selected online competition?

I can’t think of a better tool to help analyze your competition set than the STR Report by Smith Travel Research. If you are fortunate enough to have a report for your area, it’s a great tool since the numbers are "real". There is no better way to determine progress than to compare it against your competition and not simply your budget.

Be Thorough
I’m sure you got the idea that setting and managing rates and inventory is a big job, but, done properly, you can do nothing better to prepare your hotel for post recession business.

Contact:
Neil Salerno, CHME, CHA
Hotel Marketing Coach
Email: [email protected]
Comment on this news item
Name     Email

See more Neil Salerno news
See more internet marketing in the hospitality industry news

Tags, event suppliers: Facilities  Hotels  Marketing  Stands 

Tags, news section: Budget  Business  Competition  Hotel  Hoteliers  IT  Leisure  Management  Marketing  Quality  Ranking  Recession  Research  Reservations  Sales  Stands  TripAdvisor 

Glossary, news section: CHME  Location  Online  Post  Revenue management  SET 

Number of views of this article: 5,736

Rechercher tout
Loading
Newsletter
Prestataires
Accès Membres
nom d'utilisateur
mot de passe
INDIGO DMC GROUP S.L.. Agence réceptive, organisation de congrès, voyages incentives et événements en Espagne, Portugal, Maroc, Amérique du Sud
AR Diamante Beach Spa Hotel & Convention Centre. Hôtel spa pour réunions d’affaires à Calpe, Alicante, Espagne
Experience Box Spain. Événements d’entreprise, activités pour mariages, câdeaux orginaux en Andalousie
TPV Express. Location de terminaux de point de vente pour événements et foires-expositions dans toute l'Espagne
Autocares Ruíz Muñoz. Location d’autocars Madrid Espagne

 
À propos de nous | Annoncez-vous | Contacter | Légal | Glossaire | Plan du site
Si vous planifiez un événement en Espagne ou au Maroc, prenez contact avec nous ou directement avec les
500 prestataires de qualité sur notre portail pour des devis gratuits, sans obligations et sans commissions.

Avec plus de 1,500,000 de pages vues et 1,000 demandes de devis par mois, Event Planner Spain est actuellement le portail le
plus visité pour l'organisation événementielle en Espagne, disponible en huit langues et avec des visites de plus de 160 pays.
Si vous offrez des services pour événements en Espagne ou au Maroc, inscrivez-vous et profitez de nos promotions actuelles.
Si vous souhaitez annoncer sur notre portail, contactez-nous pour une proposition intéressante.

Event Planner Spain, S.L.
Paseo de la Sierra, 38-20, 29018 Málaga, Espagne
© Copyright Event Planner Spain 2006-2014
Tel. +34 952 294 327

La Finca Golf Resort. Hôtel 5 étoiles de luxe sur la Costa Blanca, Alicante, Espagne, avec salles de réunion et son propre parcours de golf

Dernière prestataire

La Finca Golf Resort. Hôtel 5 étoiles de ...
Barcelona Kick-Off Event 2015 with RTA

Dernière promotion

Barcelona Kick-Off Event 2015 with RTA ...
Dancem at Royal Tapestry Factory

Dernière actualité

Dancem at Royal Tapestry Factory ...
AV Services Barcelona. Location de matériel audiovisuel (projection, son, vidéo, traduction et lumière) à Barcelone et Espagne

Prestataire aléatoire

AV Services Barcelona. Location de matériel audiovisuel (projection, ...
Weekend Wine Break in Penedes

Promotion aléatoire

Weekend Wine Break in Penedes ...
ICCA Experiences Record Membership Applications in August 2011

Actualité aléatoire

ICCA Experiences Record Membership Applications in August 2011 ...

Málaga Convention Bureau Member MPI Member, Meeting Professionals International CO2 Neutral Website Exhibiting at EIBTM, global event for meetings and incentives IMEX 2015 – Frankfurt 19-21 May. The essential worldwide exhibition for incentive travel, meetings and events ICCA Iberian Chapter