The revenue management strategy is essential in increasing revenues and maximizing profitability to create a successful hotel business. It involves optimizing prices and accommodation availability according to demand, and positioning the hotel in relation to competition and market opportunities.
Our consultants plan the room sales strategy based on the competition and market growth predictions, considering a good customers’ profiling and segmentation, and certain performance indicators (KPIs) such as the occupancy rate, the average daily rate (ADR), revenue per available room (RevPAR), revenue per occupied room (RevPOR), etc.
Upon the analyzed data, Spark consultants will help you make informed decisions about:
- hotel positioning in relation to the competition and identifying growth opportunities
- developing the price strategy according to demand forecast, parity rates, customer segmentation
- identifying the most suitable distribution channels – direct bookings versus online travel agencies (OTAs)
- the opportunity to offer discounts and create personalized packages
- sales strategies – up-sell and cross-sell
- including new services and accommodation packages to improve customer satisfaction
- creating and implementing the annual budget and plan, as well as the commercial strategy.
Specific Trainings
Our services include training your team in revenue management and the use of a dedicated system, so that your staff becomes familiar with a variety of techniques, tools and reports that can help maximize revenue.
Optimization of Event Spaces / Revenue Management for Event Spaces
With the right strategy in place, conference rooms and public spaces in your hotel, such as the outlets or even the lobby, can become potential new or enhanced revenue boosters. Spark Hospitality consultants have the expertise to provide you with the right solutions to convert unproductive spaces into profitable areas, analyzing possible operational barriers to profitability, and identifying methods to improve customer satisfaction and employee engagement.
