BITS AND PIECES: RATES, REV. MGT., MARKETING IDEAS,TRENDS

--Hotel.com’s 2009 Price Index showed that U.S. hotel prices fell 14% during the last half of 2009 (vs. the same period in 2008). Hotel rooms in some cases were cheaper in 2009 than in 2004.

--According to Marriott, luxury (lavish) hotels/high end resorts may face a tougher recovery than the rest of the industry.

--According to a survey by “Meeting News”, most planners expect meeting expenditures to increase or remain flat in the next six months.

--Traditional revenue management has focused purely on maximizing sleeping room revenue. What’s needed is a “holistic” approach. First: Trace all revenue associated with hotel guests. Second: Apply room principals to every revenue source. Then if you provide sales with the right target tools, you will help them steer customers into the right patterns, dates, space, etc.

--Independent hotels can more easily institute changes and react quickly to the market place. Small/independent hotels need to (also) focus on gaining a better understanding of all group activities and revenues. Certain market segments are price insensitive – you may be able to marginally increase rates once you know your sources. Encourage staff to focus on up selling to arriving guests on check in. During high demand periods, separate out your VIP’s so they don’t get bumped. The key: once you’ve done your homework, you can “play to your strengths”.

--TripAdvisor surveyed travelers with children. 92% plan to take at least one family vacation this year (up from 88% last year).

--New trend? “Pay Before You Stay and Save” – An increasing number of hotels are offering discounts if you prepay in full and forego a refund if you don’t show up. Hmmmm…

--Oyster Hotel Reviews group recommends 5 ways for hotels to attract new repeat guests: 1) Don’t try to attract everyone (Find best-fit clientele).2) Offer free stuff (simple freebies, upgrades). 3) Invest in a website that works (Is it up to date?). 4) Let photos make the sale (Are they colorful?) 5) Embrace independent reviews.

"Bits and Pieces" are extracts taken from various emails, websites, updates, etc.
Best, Julie Wernick, HSMAInsider