Hotel Revenue Management
Hotel Revenue Management: Why You Need It
Simply stated, Evision matches your hotel with the right revenue management strategy to help you reach your revenue goals. Our team includes some of the top talent drawn from the industry; they have worked with major hotel asset management companies, online travel agencies, and global lodging brands. By bringing you the best talent for hire in this competitive environment, we deliver:
- Deep industry/revenue management expertise
- Goal-driven strategy
- Shifting demand met in real time
- Relentless emphasis on return-on-investment
We can help hotels that are just starting out with setup and monthly management; we can also service hotels that need someone to maintain their ongoing revenue management needs. Hotels already deeply involved in revenue management can use our expertise to carry out their strategies and goals without having to worry about staffing and delivery issues. We can either offer a dedicated revenue manager for you, or provide revenue management consulting, per your needs.
Hotel Revenue Management: How To Get Started
Your dedicated revenue manager is accountable for pricing, inventory, identifying indicators, key measurements and data integrity. Your Evision RM will cover all processes associated with demand, revenue, inventory, and forecasting opportunity analysis. Help in developing sales strategy and pricing for transient & group customers ensures your hotels profitability. Ecommerce opportunities and efforts are reviewed with your rates to ensure optimal returns on online marketing investments.
Further, Evision will help you answer questions like the following, and construct a revenue program tailored to your situation, needs, resources and goals.
- What demand will I see for future dates?
- How do I optimize prices to reflect shifting demand?
- What group management strategies ensure acceptance of the most valuable business?
- How do I determine the best proportional mix of market segments within overall demand?
- What optimal lengths of stay should be available to each market segment for every upcoming arrival date?
- Should I accept group business for future dates?
- How do special events change demand for my property?
Hotel Revenue Management: Our Services
Your revenue management strategy will be completely customized, and we will never work with your direct competitors. We guarantee timely communication of results, achievements and challenges to the hotel managers and owners, to ensure total transparency and open communication at all times.
Developing/Executing Objectives and Strategies
We ensure that the hotel’s sales strategies are effectively implemented in the inventory systems to meet your budget objectives.
Rates and Inventory Management
Inventory and sell strategy is established for your hotel based on your goals and philosophy. We act as your inventory and restrictions expert, performing room authorizations, rate evaluation and yield management functions.
Reporting and Analysis
Our Revenue Managers go beyond just the reporting functions and help you make sense of the reports. P&L and other available systems reports are used to identify trends, future need periods, and obstacles to achieving goals. We help you generate weekly, monthly and quarterly revenue management reports and help you review: Smith Travel Reports, segmentation analysis, transient and group pace report, market pricing and forecast report.
OTA and Ecommerce Support
We ensure that the property information and rates are displayed correctly and effectively on your proprietary websites and the OTAs (Hotels.com, Expedia, TripAdvisor, Hotwire, Kayak, LastMinuteTravel.com, Travelocity, Orbitz, The Neat Group, Site59.com, Priceline, etc). We also help you set up trackable ROI metrics for all exposures, listings, and ads that appear on the web for your hotel.
