The Guest Value Journey
Your margin on every room night keeps shrinking. Your best guests spend two to three times their room rate on F&B, spa and meetings. The Guest Value Journey gives Marketing, Sales, Revenue and Operations one objective: attract the right guests and grow profit per guest over time. Five stages, two master KPIs, and one forecast every team plans against.
An Introduction to Profit-Oriented
Revenue Management
Not all revenue is worth the same. Profit-Oriented Revenue Management looks at the whole hotel, including customer acquisition cost and cost of goods sold. Your team then focuses its efforts on the segments that generate the most profit. The paper lists the 10 actions with the biggest impact on hotel profitability, based on years of industry experience.
The Benefits of Total Revenue Management
Rooms are only part of what your guests buy. Total Revenue Management examines every revenue stream in the hotel and shows you which earn the most. Use what you learn about guest behavior to adjust your offers. You grow revenue and improve the guest experience at the same time.
Market Segmentation:
The Key to Success in Hospitality
From a marketing perspective, a hotel would like to reach only those who have a reason to travel to the destination. This minimizes the acquisition cost and increases the bottom line. Analyzing a poorly structured and irrelevant segmentation will make the wrong marketing, sales, and revenue decisions, which might heavily impact market share and the bottom line.
