SUBSCRIBER CONTENT PREVIEW
FOR FULL SITE ACCESS SUBSCRIBE NOW or PURCHASE PDF ARTICLE
  • Meetings & Conventions

  • Maximizing Group Revenues and Profits

  • By Greg Pesik, President and CEO, Passkey International

  • We know why hoteliers look to bring groups to their venue. That answer is simple: Revenue. As I have said in past articles, group events represent a $30 billion+ market opportunity for hotels, and over 30% of a hotel's total revenue on average. Many hotels rely on group events for over 50% of their revenues. In order to tap into this opportunity hotels are scrambling to line up their calendar of events for the year ahead.

    One question I get from many customers, colleagues and friends in the business is the following: "Once we have booked a healthy amount of group events, are there any additional ways to identify and generate more revenue from each event so we can take our group revenue up to the next level?"

    These folks are always glad when I answer that question with a firm "Yes." What I tell each of them is that today hotels are focused on attracting events and then making sure they are all a success. This is essential. What they need to do now is identify potential new sources for creating additional revenue from each individual event. The question is how, and some of the answers are below.

    Increase Pick Up

    When a ...

  • TO CONTINUE READING SUBSCRIBE NOW or PURCHASE PDF ARTICLE

Already a Subscriber?

Login
Email:
Password: Forgot password?
Remember me on this computer

Who Subscribes?

"The Hotel Business Review articles are a terrific source for current hotel industry information and trends".


Donald Trump Jr., Executive VP of Development
Trump Hotel Collection

Hotel Business Review Meetings & Conventions

Lynn McCullough
Marilyn Healey
Klaus Kohlmayr
Andy Dolce
Bruce Fears
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.
INSIGHTS FOR INDUSTRY LEADERS BY INDUSTRY LEADERS
"The Four Habits of Highly Effective Human Resources"
By James Bermingham, Vice President, Montage Hotels
"Embassy Suites 'The Circle of Leadership"
By Darci Riesenhuber, Director of Brand Culture, Embassy Suites Hotels
"Applying Consumer Marketing Best Practices to Employee Loyalty"
By Fred Bendana, Executive Director Client Services, Maritz Loyalty & Motivation
"How Incentives are Changing to Keep Existing Staff Motivated?"
By Jim Houran, Partner, HVS Executive Search
PLUS: Mobile Technology - Attracting & Retaining Top Talent - Education - Employee Engagement - Employment Claims & Litigation - Employment Contracts - HR Management.