Hotel Revenue Management
EVOTEL is a leader in hotel revenue management, and with our remote revenue management consulting services we help independent hotels increase their financial performance.
Our hotel yield and revenue outsourcing specialists implement EVOTELs’ innovative and proven methodology to grow the RevPar and GopPar results of your hotel.
EVOTELs’ RM and yield experts will be incorporated in your hotel management structure and operate as a part of your team taking on the responsibilities and duties of revenue management and business development. Working besides your executive management, we will be implementing best practices, proven techniques and the latest travel distribution developments.
Our Revenue Management Mission
- Adopt a healthy market segmentation for the hotel
- Assist with budgeting and develop a forecasting model adapted to the market segments
- Increase revenue by stimulating demand and use existing demand for the destination
- Push forward the hotel on potential distribution channels to enlarge the demand
- Optimize direct sales and distribution via website and phone
- Structure the pricing management
- Set strategic pricing in terms of public and negotiated rates
- Handle all revenue management tasks on a daily, weekly and monthly basis
Competitor Evaluation
We will study the main competitors of the hotel to assess their price positioning in relation to their product offerings. EVOTEL will build a comprehensive report comparing the strengths and weaknesses of the main competitors alongside the hotel. This report will focus on establishing the Price-Value relationship that the hotel can provide in comparison to its key competitors.
Distribution Bench-marking
We will evaluate competitor distribution channels, including GDS, IDSs, and offline methods through mystery calls. Our study will assess promotion management, length of stay pricing, inventory availability, and rate management across varying demand periods. This benchmark analysis will identify competitive strengths and weaknesses, providing an action plan to secure optimal distribution channels.
Price Bench-marking
We will benchmark and compare the pricing strategies of the main competitors and the hotel. The study will look at the public prices but will also try to pinpoint negotiated rates such as corporate rates. The study will look at a year period: day by day pricing by length of stay. The bench-marking will show how the hotel is priced competitively and create or revise the pricing grid.
Pricing Grid
Upon the benchmarking studies, EVOTEL will review the existing pricing grid or build a new one and recommend pricing strategies to stimulate the demand. Both public prices and negotiated rates with multiple length of stay will be assessed and recommended.
Demand Calendar
We will analyze or create a comprehensive demand calendar to assess daily demand strength for each period, factoring in events. This enables us to develop effective day-by-day rate strategies tailored to maximize revenue, occupancy, and overall performance.
Forecasting Model
We will build market segmentation for the hotel and create a forecasting model to ensure that existing demand for each individual segment will be targeted most effectively in terms of marketing, sales and pricing strategies.
Rate Strategy Sheet
We will develop monthly rate strategy sheets with the following objectives:
- Day by day pricing strategy for one year will be shown (price value per length of stays day by day will be recommended)
- Pricing strategy per channels of distribution
- Yield strategies with L.O.S. restrictions on peak periods
Online Distribution Strategy
And don’t think for a moment this cannot be applied in your hotel property. With our revenue manager for hire team we manage a diverse portfolio of top performing hotel companies, ranging from independent boutique hotels, luxury design hotels, beach resorts, innovative hotel concepts, regional hotel firms, and even country side / rural hotels, modern budget hotels, camping sites and holiday parks.
Rate Loading
We will also review or build the rate loading and the rate management through all electronic distribution channels to ensure that all prices including corporate rates are correctly shown and bookable.
- Meeting at the start of the project with first phase of assessment and meeting with the team
- Final presentation meeting with the pricing strategies and tools
EVOTEL is an innovative hospitality management group, for a new breed of hoteliers.
Want to improve the top line revenue and bottom line profit of your hotel?
Bring in the experts!
