Fill Need Periods with Highest Revenue Generating Guests
You don’t want to just fill your hotel with guests. You want to fill it with the best guests – the ones who find value in your product and service. In other words, you want to get the optimal rate for each hotel stay. Often hotels have unique guest trends on weekdays vs weekends, requiring them to adjust the product and the rate.
Make sure you are not just lowering rate to fill your need period. Look at your competitive hotels and how they change during the week to help guide your rate strategy for maximum ADR and revenue performance.
HOW TO: How can I optimize my room revenue and ADR?
- At the beginning of each day, check your rate report for changes in strategy from your competition.
- Look for trends in your PMS to identify where demand is likely and how you are performing on the books right now for those arrival dates.