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Revenue Management

Revenue Management. How Hotels Determine Rates What Can You Do to Help Find Per Diem Rates Factors that Effect Room Rates. Forecast Meeting. Critique Meeting STaR Report Review Past Critique ROM Report Setting Rates Restrictions for the next 90 days Forecast Competition Pricing.

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Revenue Management

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  1. Revenue Management How Hotels Determine Rates What Can You Do to Help Find Per Diem Rates Factors that Effect Room Rates

  2. Forecast Meeting Critique Meeting • STaR Report Review • Past Critique • ROM Report Setting Rates • Restrictions for the next 90 days • Forecast • Competition Pricing

  3. What’s a STaR Report? • Smith Travel Research – Independent research organization • Compile market data on selected hotel comp set, on occupancy, room rate and market share in a confidential manner • Evaluate performance relative to defined competitive set • View property and market trends by day of week and seasonality

  4. STaR Reports • Market Share Reports compare property occupancy, ADR and RevPAR performance by day of week, over time and to previous year, • Occupancy Index (Penetration Index) - measures hotel’s fair share of the market • ADR Index (Rate Index) – Represents rate premium vs. their market competitive set • RevPAR Index (Yield or Effective Index) - Measures hotels premium (over/under) of revenue share of their Market.

  5. Restrictions – maximizing opportunity • MSx = you must stay x nights if you arrive on this date and want this rate • MXn = you much check out after n nights if you want this date/rate (think weekend) • NMQ = no rooms allowed at this rate • CTA – closed to arrival – if you arrive earlier you can get this rate but if you arrive today you get a different answer • 3/1 = if you arrive this date, you can get the rate but only if you are not asking for a LOS in the middle (i.e. 2 nights)

  6. How it Looks –

  7. What’s a Per Diem Player to do? • Book as a group with LOI • Day of Week/Pattern • In DC, book between conventions or on top of them for catering only groups • http://www.dcconvention.com/UpcomingEvents.aspx • Book around the Congressional Calendar http://majorityleader.gov/calendar/113thCongressFirstSession.pdf

  8. Are you Ready? ???????? WHO ARE YOU GOING TO TAKE ????????

  9. THANK YOU! Mike GadellArea Assistant Director of Sales & Marketing B.F. Saul Tysons Corner Hotels Courtyard by Marriott Tysons Corner Crowne Plaza Tysons Corner Tel: 703-584-2143 Cell: 703-966-8111Fax: 703-893-2062mike.gadell@bfsaul.com

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