All reports continue to show that meetings and corporate incentives are going to continue to be down so focus your sales efforts on the internet. Despite a lingering recession, the advantage of online sales is that your actions today can result in bottom line room night sales in as little as 4 weeks - and these last unexpected room sales will translate into RevPAR increase.
1 - BOOST YOUR INTERNET SALES TODAY
Only web based internet sales can compensate for what has not been sold in advance to fill your hotel. Manage your hotel's web presence to gain greater visibility and better positioning by using blogs, web 3.0 techniques, travel search engines promotions and by putting your hotel on more websites. Every hotel needs to be signed up with the top 5 Online Travel Agencies (OTA) but do not underestimate less popular OTA because they will bring incremental sales for your hotel while leveling margins. Consider signing up as many pertinent OTA as possible, aim for at least 15 to 20 instead of just a few to gain maximum exposure.
2 - MAKE SURE YOUR SALES CHANNELS ARE OPENED 24/7
During evenings, nights and weekends hotel staff cannot manage OTA allotments and price changes because they are at home resting while most travelers are also at home shopping on travel websites. Think about it, when was the last time you were shopping for your vacations during business hours? Consider international travelers with different time zones that also shop and book hotels at night when most hotels cannot react to market changes and fluctuations. As supply and demand fluctuate 24-7, automate your pricing during non business hours to increase your hotel profitability.
3 - INCREASE SALES BY CHANGING YOUR RATES MORE FREQUENTLY
Once the OTA allotments are filled do you know that your hotel is closed for business because there is no one to reopen them? As more bookings arrive hotel rates should naturally increase but most hotels leave money on the table because there is no one to change prices in real-time. In this economic environment, changing rates once or twice a day does not make sense anymore so automation is the way to go.
4 - USE TECHNOLOGY TOOLS TO SELL YOUR HOTEL
Revenue managers and reservations managers get overwhelmed by day-to-day data entry entries. The manipulation of extranets, rate buckets, rate codes, allotments, promotions has become so complicated that many leave rates stagnant in fear of changing the wrong codes or pushing the wrong buttons. Provide your team with the latest software technology so they can automate the process. By doing so they can focus their time and energy on strategic and higher value added activities.
5 - RE-DIRECT CUSTOMERS FROM YOUR ONLINE COMPETITION TO YOUR HOTEL
Not too long ago only travel agents had computers so hotels used to only have a few competitors to worry about but the internet changed everything to the benefit of travelers. Put yourself in the consumer shoes, who by the way has become very internet savvy and smart. Just use simple frequent analysis of the OTA: simply shop your destination, sort by price, and then star ratings to see what your hotel position is. Many hotels keep the same prices so changing your rates by a few dollars could really boost your page positioning high enough to grab hotel clients from your competitors. You will be surprised; it is definitely worth a try!
6 - INCREASE YOUR HOTEL REVPAR
Don't kid yourself, for internet sales don't believe in the traditional compset of the past because there are many hotels to choose from in your destination. Recognize the growing need for a hotel competitive pricing system that updates rates and allotments automatically in real time: increasing your internet visibility, managing complicated internet opaque channels, and having the perfect competitive rate all the time for your Hotel website will inevitably increase sales.
7 - OPTIMIZE YOUR REVENUES DYNAMICALLY
Replace static control by dynamic control parameters by using a Yield Dynamic Pricing Engine that integrates revenue management, inventory control and sales distribution. These innovative tools maintain optimal revenues in face of low rates competition, provide successful management of electronic sales channels to increase hotel revenues and optimize distribution costs.
About RevPar Guru
RevPar Guru provides hotels around the world with an alternative revenue management software solution, to manage revPAR intelligently and effectively, and deliver maximum profits. RevPar Guru's custom-designed Yield Dynamic Price Engine meets the rapidly changing needs hotels in a demanding business environment - dynamic rate optimization, real-time pricing, integrated internet and extranet yield channel management, and GDS sales distribution, to increase a hotel's revPAR while maintaining rate integrity and automated rate parity. It is the only revenue management solution that automatically optimizes and updates hotel rates across all major consumer travel websites, based on all market variables and in real time, and provides a strategic room inventory control. Once deployed, hotels can boost their occupancy rates and cut their distribution costs dramatically. Headquartered in Miami, Florida, additional information can be found at www.revparguru.com or by calling +1.786.478.3500.
