Lodging Revenue Strategy Consult
The easiest way to succeed is to have a strategy.
Your marketing and day to day decisions will be easier once you understand Revenue Management
Innkeepers and Hosts have so many responsibilities. It is so important to make sure that the reservation and money side of the business gets the attention it deserves. Understanding where the reservations are coming from and how much money it takes to get those reservations is a key component to so many other components of the business. An Innkeeper and host have to know how much that room needs to generate to justify selling it in the first place. Don’t put your revenue and expenses on autopilot, you could be leaving money on the table.
SuiteRev can help you understand revenue funnels and give you a clear picture where you should market. The first step is to review and determine your revenue and occupancy goals. Unlike other industries, the lodging business can be very seasonal. Special attention needs to be focused on those months that are strong. Once the strong months are optimized, the slower months can be evaluated and a plan can be made to bring the slower months revenue up. Determining channels and distribution are essential. A written strategy will ensure that each month every distribution option is considered.
A SuiteRev Revenue Strategy can include:
- A discussion about your desired revenue and occupancy
- Review of your property and rooms/ price points
- For Airbnb Hosts discussions about Airbnb Select and what room types you can utilize for most revenue
- Review of current online marketing/OTA’s
- Review of Direct Marketing
- Review of Website and listings
- Competitive Analysis of 5 competitors on different channels – Airbnb properties can be compared also on channels
- Determine audience and market
- Determine niche and brand
- Determine where you should be marketing
- Review Social Media and Client engagement tactics
- Uncover ways to sell more rooms for optimum pricing
- Packaging and POS Items
A Lodging Marketing Strategy Consult involves 2 (1) hour. The first meeting is to discuss where you are and the second to discuss where you should go.
Call or email for pricing