Happy New Year! With a new beginning comes much anticipation and preparation. In the words of Soren Kierkegaard, "Life can only be understood backwards; but it must be lived forwards." Words to live by when preparing for the future success of your company. The best way to prepare is with a vast knowledge of the past and keen insight into where the hospitality industry is heading. The goal is simple - improved profitability. It is reaching that goal that poses the biggest challenge.
Here are a few articles to help further your knowledge of how profitability can be achieved in the upcoming year.
Of Canaries and Coal Mines – Should we be Concerned about ADR?
By Trevor Stuart-Hill, Hotel Executive
Projections for 2017 and beyond by STR, CBRE and PKF all call for anemic occupancy growth at best, notwithstanding record occupancy levels for the U.S. hospitality industry. With Revenue Per Available Room (RevPAR) growth projections at inflationary levels (2.5 – 3.5 percent, or so), it is clear that expectations call for Average Daily Rate (ADR) growth to continue, but will it?
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Are You Pricing for Profits?
By S. Lakshmi Narasimhan, Founder, Ignite Insight LLC
A consistent misconception among hoteliers is that pricing for profits means operating at the highest price level within your competitive set. This is as far from the truth as anything. Pricing for profits is an approach which takes into account how well your pricing strategy deals with one of the most common phenomenon in hotel or any form of business - price resistance. Price resistance is a price point where customers feel the need to look elsewhere. A superior indication of price leadership and pricing for profits is to see where you stand in terms of REVPAR against the Market Average. This is principally because if you are well above the market average REVPAR, you are exhibiting price leadership more than merely an average daily rate in the higher levels.
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Peak profitability: Finding balance of occupancy, rate
By Sean McCracken, Hotel News Now
It’s easy to assume that a sellout night is the best possible outcome for a hotel, but revenue management experts say that finding the right level of occupancy and rate to maximize profitability is more of a delicate balance.
Read More...
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Introducing Chris Guanzon,
Sr. Director of Revenue Strategies
Chris brings with him experience in both sales and revenue management across several properties within the California region before joining Revenue Matters in mid-2014. In his role with Revenue Matters, he is accountable for proactively driving revenues for clients and has supported multiple properties to experience around a 10 percent increase in overall yearly revenue and RevPar, including Lodges at Gettysburg, Resort at Pedregal, The Sebastian Vail and Inn at South Padre Island.
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He is equally comfortable working within the 5-star luxury segment as he is with resorts, city properties and independent boutique properties—his most recent achievement, assisting in the launch of The Resort at Pedregal, that is now in the Top 3 resorts in Mexico in Conde Nast Traveler's 2016 Choice Awards.
His quiet demeanor and keen intellect allow him to quickly read and understand what needs to be done, while his professional, yet easy-going communication style allows him to communicate complex ideas in a very understandable way. Chris is certainly enjoying the beautiful places he has the opportunity to travel to, and has made some great friends along the way.
What you may not know, but would love to find out:
- If the TV is on, Chris is glued to any NBA or NFL game.
- A night out always includes TACOS!
- Chris' favorite worldly destination is Peru, or anywhere in South America.
- Chris' ultimate pad would include a big, fluffy dog!
- If you are on the lookout for Chris, you can always find him at the beach or your local taco shop.
- Chris' favorite article of clothing is his San Diego Chargers hat.
- Chris has a heart of gold and a strong dedication to the people around him, making him a wonderful coworker, mentor and friend.
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Regional Training Workshops
Revenue Matters offers 2-day regional workshops throughout the year that give participants a foundational understanding of revenue management—an ideal opportunity for those new to their role in revenue management and the more seasoned individuals, responsible for the revenue management function within their organizations.
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"Wow – such a pleasure to work with you guys. Have heard nothing but great things from the hotels and Revenue Management teams as well. Thank you so much for all your help and look forward to a great relationship in the future."
Vickie Callahan -
VP Revenue Management at Atrium Hospitality
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Charity Work
A big part of who we are as a company is how we can impact and make a difference in our communities. One way we do this is by supporting a charity each year and dedicating both time and funds to assist in the success of that charity.
National Down Syndrome Society
The National Down Syndrome Society is dedicated to being the national advocate for the value, acceptance and inclusion of people with Down Syndrome. NDSS has more than 375 local affiliates that provide an array of benefits to help better serve the Down Syndrome community in their local area, from large operations to small neighborhood groups. Services and programs include: new parent support and education, family meetings, sibling and grandparent support, recreational activities, lending libraries, helplines, regional conferences, medical partnerships and training, advocacy and Buddy Walks.
To find out more, go to: www.ndss.org/
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