Our top priority and objective for our hotel revenue management clients... maximize inventory and demand at maximum profitability
We do this in many ways through:
Comprehensive revenue management audits
Development of strategic revenue management plans and annual budgets/goals.
Strategic and tactical consultative services for revenue outlets, training and service audits with ongoing quality control audits.
Customized revenue management reporting, tailored to the individual hotel, support tools and coaching sessions for all sales directed staff members or outlets.
Revenue Management as a Business Process
First and foremost, we consider hotel revenue management to be a distinct and highly structured business process.
Our unique methodology is designed to enable hotels to stay ahead of the fast-paced, evolving nature of hotel revenue management. Comprised of 6 key components, the process is specifically designed to follow a logical business cycle that, when repeated, facilitates a comprehensive application of hotel yield management concepts and principles in every aspect of revenue generation.
In today’s world of revenue management there is chronic disconnect between demand creation, demand capture and demand management, largely because of the manner in which consumer buying behavior is evolving and the extraordinary impact of the Internet. Without a fundamentally holistic approach to revenue management, hotels are unable to optimize demand. This is why at RevLogic Hospitality Consulting we pay equal attention to all segments of business and deploy a truly collaborative, synergistic approach to the relationship between marketing, sales and revenue management. This includes a carefully blended emphasis on the customer, the competition, the market, and the electronic playing field (including digital marketing and social media). Converging these disciplines is key. And it takes the skill sets of both a consultant and a trainer to do it well.
An understanding of the three primary pillars (or building blocks) of organizational change: culture, team, skills
Building the culture of revenue management within an organization
Developing an integrated decision making forum to overcome traditional departmental barriers to revenue and profit optimization
Developing both strategic & tactical skills in a “Total Revenue Management” environment
An appreciation for the different perspectives of owners, management companies and brands.
The ability to comprehensively assess any revenue management effort, no matter the environment, against industry best practices.
A comprehensive and dynamic business process approach to adapting Revenue Management to your organization. This proven methodology combines a highly structured process to evaluate your organizational needs.
Ability to follow-through on recommendations with by offering workshops, decision support tools and coaching sessions to enable your hotel to develop Revenue Management as a sustainable core competency. The ability to keep pace with the rapidly evolving discipline of hospitality revenue management.
Tools, training and process together to enable those making the day-to-day decisions to deal effectively and efficiently with complex revenue and yield management issues such as positioning, pricing, forecasting and electronic distribution.
The ability to deliver and communicate our content using adult education techniques to ensure that participants experience optimal gain from the investment in revenue management training and development. According to a study from the University of Washington “private employers spend $210 billion a year on training…. but it is estimated that less than 50% of corporate programs are effective in terms of long term retention and application.”
A focus on measuring results including market index results overall, market index balance, total revenue.
Patience from years of experience to help clients master low and mid-tech skills before implementing high-tech solutions.
Willingness to take time to demystify and simplify revenue management concepts.
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