TREVOR'S TIPS

The concept of Integrated Revenue Strategy ^sm takes the best that marketing, revenue management and distribution have to offer and combines these into a unified force for driving profitable revenue for our clients. The foundation of this powerful trifecta is “MAX” our business intelligence platform that is specifically designed to support best-in-class business processes that Revenue Matters has fine-tuned over the years. MAX makes decision-making easy – even in these complex times. It provides full transparency and immediate insight into emerging trends while facilitating ongoing and thoughtful collaboration between our team and yours.

If you haven’t had the chance to see it in action, please let me know and I would be happy to provide you with a demo.

IN THE NEWS

The articles below will help to equip you and your hotel with the knowledge you need to take that step in the right direction to recovery.

Survey: Frequent Travelers Cite Priorities for Hotel Stays
American Hotel & Lodging Association

The pandemic has decimated the hotel industry as travel has slowed significantly throughout the last few months. The fall looks to be equally as challenging, with only one-third of frequent travelers expecting their next hotel stay to be within the next three months, 18 percent within three to six months, and 25 percent in 6-12 months.

How COVID-19 Is Transforming Traveler Behavior, Loyalty and Values
Ketchum

Ketchum looked at where travelers are above or below average on two metrics: their openness to reengage and redefinition of values. View this insightful infographic for a look at consumer attitudes and actions related to travel to uncover the trends, shifts and insights driven by this phase of nonstop disruption.

EMPLOYEE SPOTLIGHT

Introducing Will Perry, Director of Revenue Strategies

Will, who just celebrated his one-year anniversary at Revenue Matters, is a seasoned hotel professional whose career spans more than two decades both domestically and internationally with major hotel brands including: Ritz-Carlton, Marriott, Hilton, The St. Regis, Hampton, Conrad, and numerous independent properties. His experience consists of hotel operations, sales, hotel development, asset management and most importantly revenue management and strategy.

Fun Fact: Will spent over 6 years living and working in Johannesburg, South Africa, where he was head of hotel asset management for a private family office. In his role he led weekly meetings with senior operations’ managers (including revenue management teams), was responsible for capital raises, and worked with leading brands like Marriott and Hilton. While living in Africa, Will could usually be found on weekend safaris during his leisure time observing one of his favorite animals – the elephant.

STR Hotel Data Conference

Recently, Will “virtually” attended the annual STR Hotel Data Conference held on Thursday, August 13, in Nashville, TN. Here are the key takeaways:

• According to STR, the lodging industry ran 66.1% in 2019 and is forecasted to run 52.0% in 2021, meaning next year the industry will be behind 2019 by -14.1%
• Rate will also be down in 2021. STR estimates ADR was $131.13 in 2019, and is forecasting an ADR of $109.56, which is down -16.5%
• RevPAR was $86.64 in 2019, and is forecasted at $56.95 for 2021, down -34.2%
• Many of the attendees noted there is simply no group demand, as companies do not know when they will resume conferences or small meetings. Small meetings may pick up in the second quarter of 2021.
• Leisure business has been driving demand over the summer, but there is concern for the 4th quarter of 2020, and 1st quarter of 2021, as a major part of transient demand is driven by Individual Business Travelers.
• Limited and Select Service hotels are recovering faster than full service and luxury properties.

Hotels are going to struggle with 4th quarter occupancy and rate, and many are looking to OTAs for easy answers to fill occupancy.

PARTNER SPOTLIGHT

Hotel Sales Solution provides virtual Directors of Sales and virtual sales professionals as an outsourced revenue generating resource. As a virtual partner, they are able to deploy resources in any market and provide services for a fraction of the cost.

HotelSalesSolution.com