Revenue Management

 

Optimizing revenue opportunities within the dynamic hotel business falls under the domain of the revenue management team. This unique art form, played out rather scientifically on a hotel balance sheet, requires a skillful and dedicated team of professionals with an in-depth understanding of the market and consumer nuances that drive demand - and therefore profit.

 

As a management entity, Mihran Kalaydjian Hospitality Consulting Firm engages this challenge head-on through a dedicated revenue management division within SMART (Sales, Marketing & Revenue Team), utilizing home office, brand and third-party sources to effectively revenue manage hotels on property or remotely. The application of first-class technology solutions enables the revenue management team to proficiently analyze, choose and execute a mix of customer product and channel segments which help achieve your chosen financial objective.

 

Mihran Kalaydjian Hospitality Consulting Firm is a force of change in hotel revenue management, and can help you outperform your competition. We will turn your hotel into a leader in your local market.

 

When these segments are engaged and managed correctly, they become opportunities that can positively and directly impact your RevPAR, ROI, and profitability. Revenue management services include:
  • Customized full-service revenue management counsel including recommendations
  • Industry expertise enhanced by system design for seamless implementation
  • Channel and revenue management for optimization
  • Sceptre Rate Quality Assurance Testing for accuracy
  • Interactive Marketing services and guidance
  • Identification and remediation of issues and channel vulnerabilities
  • Rooms merchandising to maximize your hotel physical inventory
  • Assessments and recommendations to fully utilize your technologies

 

Mihran Kalaydjian Hospitality Consulting Firm believes that hotel rate management is based on a combination of detailed data analysis and timely action. We know that developing the right solutions requires a custom approach. Mihran Kalaydian Hospitality Consulting Firm has the bandwidth and ability to work on individual properties to recommend unique hotel rate strategies and solutions in revenue management. We know what to focus on beyond RevPAR as we look at GoPAR, profit management, and your sales mix.

 

Services in Revenue Management for Hotels:

  • Internal review of your hotel's inventory, previous rate performance, and technology
  • Research and analysis of marketplace and competition on local, regional, and global levels
  • Evaluation of current rate strategies and competitive rate set
  • Strategic action recommendations
  • Pricing validation process with automated rate shopping tool and consumer perception metric tool
  • Guides, toolkits, resources, and programs are adapted to each hotel we serve