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  • Revenue Management

  • When to Book? Looking at Guest Patterns

  • By Juston Parker, President & CEO, Parker Hospitality Group, Inc.

  • The basics of Revenue Management begin far before the guest comes. As Warren Buffett stated, "Forecasting rain doesn't count, building arks does?"

    When does a guest book? The answer most give is, "when they want to stay". The truth of the matter is they book when the time is right for them. Traditional marketing gets all the information in front of the guest and hopes that when the gust books they choose you! This shotgun approach leaves many properties unable to track true conversion on their efforts and wasting money on trying to get guests that never stay. By looking at true patterns, one can put the value product in front of the ideal guest at they time they are interested in booking, thereby creating an easy environment for the guest to book. In addition, since this guest is getting what they want, not only is conversion higher, but the ADR is as well.

    So, how do you know when is the right time to get before your guest? The key is micro-segmentation of the guest profiles and searching out what they value.

    Segmentation of the Guest

    Traditional thought dictates that a guest segment falls under the same line items of the P&L. Corporate, ...

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Hotel Business Review Revenue Management

Juston Parker
Christian Koestler
Klaus Kohlmayr
Klaus Kohlmayr
Klaus Kohlmayr
Juston Parker
Klaus Kohlmayr
Steven Pinchuk
Coming Up In The March Online Hotel Business Review

"Hotel Business Review offers weekly articles for hotel management and operation and discussion on emerging growth markets."
Feature Focus
Hotel Human Resources: The Biggest Challenges
The economic challenges of the past four years have led many hotel companies to re-examine the ways in which they do business and how they deploy talent. In many cases, the work did not go away and fewer people were left to carry on the tasks that had previously been shared among many. As we work our way out of the recession and look forward to a healthier economic environment, there is an understanding that despite recovering business levels, we may never see the return of former staffing levels. This "new norm" of operating with leaner teams has led Human Resources professionals and people managers to look at career development and growth opportunities in a new light. The March Hotel Business Review will take a look at some of the strategies being used by successful hotel brands, and techniques human resource directors are currently exploring.
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"How Incentives are Changing to Keep Existing Staff Motivated?"
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PLUS: Mobile Technology - Attracting & Retaining Top Talent - Education - Employee Engagement - Employment Claims & Litigation - Employment Contracts - HR Management.