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RevUp Newsletter July 2010

RevUp Newsletter July 2010

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Published by Scott Brodows

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Published by: Scott Brodows on Jan 26, 2011
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01/26/2011

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REVUP
 
insider
JULY EDITION 2010
 
INSIDE THIS ISSUE:
REVUP PRODUCT ROADMAP
P1
REVUP BEST PRACTICES
P2
 COSMIC GUIDETO REVUP
P3
 INDUSTRY
 
NEWS
P4
 
REVUP PRODUCT ROADMAP
REVUP NATION,
 
I recently attended Hitec in Orlando andthought an update from the show wouldbe of interest to you.
The event was much livelier than last yearboth in terms of exhibitors and attendees.In general the mood was very positive witheveryone expressing that the worst of "08-09" is behind us with most markets seeingan increase in demand.We have a very exciting product launchscheduled for July. Gary's column willprovide more details on the MarketDemand functionality we areimplementing. There was good buzz aboutthis at Hitec and we are in line to be first tomarket with integrated revenuemanagement functionality. We are testingthis product now and will make anannouncement for launch details by theend of the month.Social media "SM" continues to be the topicof most interest to hoteliers. All of thequestions and advice that we included in ourlast newsletter were consistently expressedat Hitec. There are services and consultantspopping up all over to help hotels get ahandle on what to do with SM. It is clear thathotels must take a proactive view of theopportunities and approach it from twoangles. First, from an operations standpoint,hotels need to think of SM as electronic guestcomment cards on steroids. Whateverprocesses and communications you have inplace for guest comments needs to bereplicated at hyper-speed for SM. Second isthe need to use SM as you would PR forpromotions. Using SM as a vital PR channelwill pay immediate dividends.Another big trend is the shift to cloudcomputing and Software as a Service "SaaS"models for most hotel technology needs.
 
Every PMS vendor we met with is shifting theirfocus to the cloud with many new entrantsbuilding for the cloud from the start. Inrevenue management this is also the trendwith all major players offering both clientserver and cloud based models. RevUp offerstremendous benefits to our customers in cost,efficiency, and functionality based on ourhead start in the cloud.My final observation is how quickly the AppleiPad has gained traction. With noexaggeration, about 50% of the showexhibitors were giving away an iPad toattendees who registered at their booth. Ihave never seen one single product sodominate exhibitor promos. Apple has a goodbusiness model just for this use alone.Optimize well my friends,
Mark 
July
Rubicon Market Data: PACE, Segments
Forecast: 90-day report, UI Improvements,
ROB Data load Automation _(pilot completed, adding more properties)
STR Upload Automation ongoing
August
Help Sections for all key functionality
Market Data: PACE, Segments
Property Comparison Module
September
 
STR: Sensitivity Report Integration
Revamp of Special Event tracking
Cosmetic Improvements to UI
Q3
 
Support for Segmentation across Reports
User Customization (reports, shortcuts)
 
Cluster-level reporting
 
Forecast: advanced PACE/Demand logic
 
 
MANISH BALIGA
DIRECTOR OF REVENUEPARK CENTRAL HOTEL NYC
Manish has had the pleasure of working withthe hospitality industry for over 15 years, 5 of which have been dedicated to Revenue andDistribution primarily in New York City.He began his career as a managementtrainee with the Taj group of hotels in Indiaspecializing in Food & Beverage. After 4years he was presented with the option of  joining revenue management which he did.Since then he has successfully managed keymidtown Manhattan East Side Hotelsexperiencing the Taj brand, the Carlson brandand independent hotels.Manish holds a degree in Hospitalitymanagement from the Indian Institute of HotelManagement formed by the Taj group of hotels. After coming to the United States, hecompleted his undergrad in Hospitality. After that he moved into theater attending the twoyear conservatory at the Stella Adler studio of acting in Manhattan. Having completed hisacting he performed in the local theater groups of New York and also is credited withacting alongside Jeff Bridges in the HBOmovie called A Dog year!
REVUP BEST PRACTICES
BY MANISH BALIGA
 
The property dashboard provides you anexcellent snap shot of your currentpositioning for the month and 90 daysout compared to your budget andforecast. The next step is to review thepickup analysis which tells you yourdaily pick up based on the number of days one has selected. It is a keyindicator that helps you understand howeach day is performing based on theprice points you have set. It also helpsindicate any low or high rated businessthat you may be securing. This helps youidentify strong/weak days.
RevUp has been built through a system of feedback from key industry leaders inthe revenue field. One of the most exciting things about this new software isthat it continues to evolve with the emerging trends and insights which havebeen provided through its users which make it customizable to different needs indiverse hotels.
The daily sensitivity analysis next helpsme understand how each day of theweek is progressing which I thencompare to the pick reports. There aretwo new features which are helpful. Onthe property dashboard RevUp nowpulls Rubicon shop report which helpsyou see your comp set pricing as awhole or selectively in terms of pricing.The pace and pick reports also segregatetransient and group which help youunderstand your segmentationcontributions and if they are having anyeffect on your pricing.There is some more that I would love to add, but in short the tool is exciting and themore you use it, the more you learn. It helps you think more and this leads tosuggestions which we send to the RevUp team that starts working on itsdevelopment. Obviously your idea needs to be good!
 
 
COSMIC GUIDE TO REVUP
 
URSULA NEHR
 
DASHBOARD
 –
PART I
Revup dashboard allows users to takeimmediate snapshot of revenue statisticseither for one property or portfolio of selectedhotels. With each module such as Occ & ADRcalendar, budget vs. OTB, pick up data orcurrent rooms & revenue user has access tomost important information that he or shewould need to be able to sustain key businessdecisions.
Let’s take a closer look at Snapshot chart 
.
This graph helps quickly analyze 14, 21, 30 or45 days worth of future revenue data. Witheasy & simple customization of eachparameter either Occ vs. sell rate, rooms soldvs. ADR or rooms sold vs. RevPAR (just to namea few) it gives powerful visual analytics thathelp expose future revenue strengths orweaknesses.
What’s even more powerful is that users are able to compare their sell rates with compset rates within
one application. Combining all that information with OTB statistics gives a great advantage of being ableto quickly react to any changes that need immediate attention.Another great function available is an ability to foresee future demand/trends based on forecast module
which is integrated with user’s historical & current revenue data.
This simple tool helps gain betterunderstanding of how decisions made today impact future bookings.
Coming soonRevup users will have an option to include future market demand data so stay tune! 

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