JUNE EDITION 2010
• INSIDE THIS ISSUE: REVUP PRODUCT ROADMAP P1 REVUP BEST PRACTICES P2 COSMIC GUIDE TO REVUP P3 REVUP EVENT P4
“RevUp is a very valuable tool for managing my diverse portfolio. I have responsibility for over 30 branded and independent hotels across North America. RevUp gives me immediate insight into how a hotel is performing and where we can leverage future demand.” Kurien Jacob, Senior VP Revenue & Distribution, Highgate Hotels
REVUP PRODUCT ROADMAP ABOUT US
June REVUP NATION,
In talking with a variety of hoteliers in several markets it seems that the demand tide has turned positive in the past few months, especially corporate transient. STR has recently revised their 2010 forecast upward. This demand trend presents a great opportunity for RevUP Nation to improve market share through rate penetration by taking upside rate risks. This month we will launch new functionality that will support this strategy. Many of you are familiar with the Rubicon Market Demand reports that provide market data for future group and transient demand and pricing. This data is incredibly valuable when cross referenced to your inhotel demand. In June we will be incorporating the demand data into the Dashboard graph to reveal compression opportunities that previously were unknown. Taking an upside aggressive price posture during the dates that have market compression driven by in-house groups will give you a meaningful competitive advantage The market demand functionality will continue to be enhanced over time. We will quickly incorporate Market Demand data into Pace, Pickup, Segment, and Sensitivity reports to allow you to be more granular in your analysis. We intend to make this an intuitive tool that gives you a significant advantage over your competition. The power of knowing the level of compression in your market ahead of the curve will prove to be one of RevUP’s most powerful features. Your feedback is much appreciated and we are very excited with the opportunity to help you improve hotel performance. Optimize well my friends,
Rubicon Market Feed Pilot (6/07) Forecast: 90-day report, UI Improvements, _administrative functionality (6/25) ROB Data load Automation _(pilot completed, adding more properties) STR Upload Automation ongoing
Help Sections for all key functionality Market Data: PACE, Segments Property Comparison Module Forecast: Sensitivity Report Integration
STR: Sensitivity Report Integration Revamp of Special Event tracking Cosmetic Improvements to UI
Support for Sub-Segments & _Segmentation across Reports User Customization (reports, shortcuts) Cluster-level reporting Forecast: advanced PACE/Demand logic
REVUP BEST PRACTICES BY YUKI YOKOYAMA
Once I review my pace comparisons, where I identify dates that I would like to delve into, I go to the daily sensitivity analysis. Here, I can compare my booking curve and rates with another date that I expect to behave similarly. With the economy changing the past 18 months, I find it useful to check against similar dates in the past 2-3 weeks, against corresponding dates in 2007 or 2008, holidays against holidays, and citywide dates against citywide dates.
DIRECTOR OF REVENUE RADISSON LEXINGTON HOTEL NYC
Yuki has had the pleasure of working with the hospitality industry for the past 13 years, starting from reservation agent. She worked with various PMS/CRS systems in both branded and independent environment. Brand systems she used include Marriott’s MARSHA & One Yield, IHG’s Holidex & HIRO, and Carlson’s HDM/CHW Express. Independent hotel systems include RezTrip, Pegasus, iHotelier, and SynXis
She also had a chance to manage hotels in other markets other than NY, such as Toronto, Vegas, and Laughlin.
The addition of competitive set rates is definitely a great plus to this report, as I can now see how the competitive set rates have been moving over time.
STAR 2010 SUMMER FORECAST
HNN Newswire The U.S. hotel industry should expect to see mixed results in the three key performance metrics this summer, according to STR’s 2010 summer forecast. The summer travel season comprises June, July and August. STR predicts summer occupancy will increase 2.2 percent from summer CONGATULATIONS!!! 2009 to 63.1 percent, average daily rate will decrease 1.9 percent to US$95.16, and revenue per available room will end the summer virtually flat with a 0.2-percent increase to US$60.03 http://www.hotelnewsnow.com/Articles.aspx?ArticleId=3316&ArticleType=0
COSMIC GUIDE TO REVUP
PICKUP ANALYSIS REPORT
Pickup analysis report helps you study & understand your property bookings. By analyzing your data you are capable of indentifying new trends to better forecast your future bookings. Daily check of your property pick up statistics will let you address all your weak spots & improve your revenue strategy. Pickup study can be done for any number of days 1, 7, 14 or 31, etc.
Looking at this report you should be able to indentify days that may need your TLC & ask yourself questions such as what caused the increase or decrease in my bookings? Is the decrease normal? Was I expecting any last minute cancelations? Why am I picking up rooms at low ADR? Is it a last minute group booking? What’s the reason for low pick up? Am I priced correctly? “I’m picking up large amount of rooms” – should I raise my rates? Where are my bookings coming from – transient, group or contract?
Remember – your property success depends on your choices & decisions you make. Revup Pickup Analysis will help you make good ones.
Travel Tripper and Revup hosted the panel in NYC on June 9 followed by product presentations. After the panel concluded, Gautam Lulla introduced the powerful new RezTrip 2.0 booking engine which includes a unique new dynamic pricing engine. Mark Allen launched the newest features of Hotel RevUp including ground breaking Market Demand functionality. Panelists included: Professor Donna Quadri-Felitti, Clinical Associate Professor New York University Gabby Etrog Cohen, Senior Account Supervisor, Nancy J. Friedman Public Relations Alex Zesch, Director of Interactive Marketing, Denihan Hospitality Group The panel offered many insights into social media in hospitality and engaged in a lively discussion with interested industry professionals in attendance. Key best practices encouraged from the panel include: >Listen to what customers are saying and respond quickly. >Make Social Media “SM” a 360 degree practice; it is simultaneously, marketing, distribution, word of mouth, and guest communications. >Match your message to the channel and the audience. >Recognize that Public Relations channels are getting most of their stories from Twitter so make it part of your marketing communications not just a way to communicate to consumers directly. >Test it and track results, SM is a channel that is fast changing and evolving, you need to engage. Key social media statistics from recent Forrester Research: >86% of U.S. travelers are online >72% of U.S. travelers use social media, up 24% since 2008 >Followers (Fans) seek product promotions and new product information via social media >Facebook is the most visited site among U.S. travelers surveyed
HOTEL REVUP & TRAVEL TRIPPER Host Social Media Best Practices Panel
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