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Diane BOUISSOU MBA 2 B
• Research from Cornell's Center for Hospitality

• Research that highlights the correlation between
  aggregate guest ratings, as defined by ReviewPro's
  Global Review Index™, and hotel rates and revPAR.
Daniel Edward Craig :

• brings in the experts to discuss highlights of the research
• its implications
• how hotels can use this data to optimize rates,
  distribution channels and revenue
: Associate Professor, Cornell School of
Hotel Administration
• He will discuss the results of the Cornell study, conducted in partnership
  with ReviewPro and STR Global, which examines the correlation
  between aggregate review scores and a hotel's demand, pricing power
  and revPAR.

                         Co-founder, Buckhiester Management
• She will show how to turn this knowledge into power by integrating
  review metrics into revenue management strategies and tactics.


Global Director of Revenue Management, Meliá Hotels International
• He will show how Meliá is pioneering the integration of reputation
  metrics and revenue management to drive higher ADR, demand and
  guest satisfaction.
The 1st analysis from Cornell University, the first hospitality
management program and now leader in this field:

Social media user generated impact on performance:
• An important part of the research process
• Impact of reviews on purchase decision
• Impact of online reputation upon performance (
  Occupancy, ADR, revPar)
• Impact translated into pricing power demand and overall
  performance
• Positive correlation between the analysis of good
  reviews and revenue gains

• Increase in reviews score by 1 point(3.8 to 4.8) increases
  the odd of being booked by 13.5% and can increase the
  price by 8% and maintain probability of purchase, market
  share

• 1% increase in review score will result in an increase of
  1% in average RevPar
The second analysis from Victoria Edwards:

• New synergy, new approach of the revenue
  management, combines 3 points:
• the demand creation
• demand capture
• demand management = optimal RM
• 3generations of RM:
• Old view/Generation 1: revenue manager= reservation
  manager
• Generation 2: more sophisticated, more tools, more
  education
• Generation 3: combines all of the elements, technical
  tools, online marketing and sales functions. The best
  one= analytical function
•   Compare variance month over month
•   Compare GRI to your pricing strategy during the same period
•   Compare your STR index balance to GRI
•   Look at your GRI versus comp set GRI
•   Compare your forecast accurancy with your GRI variance
•   Drill down to see how your rooms score
•   Look at all of these metrics in terms of forward looking
    indicators such as the rate shopping tools and the predictive
    forecast sites

• In the 3rd analysis, it is a case study which demonstrates how
  we have to manage the revenue management department and
  reputation metrics to drive higher ADR, demand and guest
  satisfaction.
• Quality penetration index or Competitive quality index by
  review Pro

• Allowing to measure the guest reviews performance
  relative to competitors

• Track the direct competitors
• It takes into account the impact of the guests satisfaction in
  pricing and revenue

• Nowadays, reviews are very important for people, they rely on
  it , and there is a high increase of the User Generated
  Content, thus we don’t have to neglect their impact

• As consequence, the role of revenue manager must become
  even more strategic and analytical

• Review metrics must be used and integrated as a key
  component of revenue management strategy

• To maximize revenue and to stay ahead of the competition,
  compare your review index with rate, occupancy, and RevPar
  indexes to find optimal rates and positionning in the market
  place

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Reputation management

  • 2. • Research from Cornell's Center for Hospitality • Research that highlights the correlation between aggregate guest ratings, as defined by ReviewPro's Global Review Index™, and hotel rates and revPAR.
  • 3. Daniel Edward Craig : • brings in the experts to discuss highlights of the research • its implications • how hotels can use this data to optimize rates, distribution channels and revenue
  • 4. : Associate Professor, Cornell School of Hotel Administration • He will discuss the results of the Cornell study, conducted in partnership with ReviewPro and STR Global, which examines the correlation between aggregate review scores and a hotel's demand, pricing power and revPAR. Co-founder, Buckhiester Management • She will show how to turn this knowledge into power by integrating review metrics into revenue management strategies and tactics. Global Director of Revenue Management, Meliá Hotels International • He will show how Meliá is pioneering the integration of reputation metrics and revenue management to drive higher ADR, demand and guest satisfaction.
  • 5. The 1st analysis from Cornell University, the first hospitality management program and now leader in this field: Social media user generated impact on performance: • An important part of the research process • Impact of reviews on purchase decision • Impact of online reputation upon performance ( Occupancy, ADR, revPar) • Impact translated into pricing power demand and overall performance
  • 6. • Positive correlation between the analysis of good reviews and revenue gains • Increase in reviews score by 1 point(3.8 to 4.8) increases the odd of being booked by 13.5% and can increase the price by 8% and maintain probability of purchase, market share • 1% increase in review score will result in an increase of 1% in average RevPar
  • 7. The second analysis from Victoria Edwards: • New synergy, new approach of the revenue management, combines 3 points: • the demand creation • demand capture • demand management = optimal RM
  • 8. • 3generations of RM: • Old view/Generation 1: revenue manager= reservation manager • Generation 2: more sophisticated, more tools, more education • Generation 3: combines all of the elements, technical tools, online marketing and sales functions. The best one= analytical function
  • 9. Compare variance month over month • Compare GRI to your pricing strategy during the same period • Compare your STR index balance to GRI • Look at your GRI versus comp set GRI • Compare your forecast accurancy with your GRI variance • Drill down to see how your rooms score • Look at all of these metrics in terms of forward looking indicators such as the rate shopping tools and the predictive forecast sites • In the 3rd analysis, it is a case study which demonstrates how we have to manage the revenue management department and reputation metrics to drive higher ADR, demand and guest satisfaction.
  • 10. • Quality penetration index or Competitive quality index by review Pro • Allowing to measure the guest reviews performance relative to competitors • Track the direct competitors
  • 11. • It takes into account the impact of the guests satisfaction in pricing and revenue • Nowadays, reviews are very important for people, they rely on it , and there is a high increase of the User Generated Content, thus we don’t have to neglect their impact • As consequence, the role of revenue manager must become even more strategic and analytical • Review metrics must be used and integrated as a key component of revenue management strategy • To maximize revenue and to stay ahead of the competition, compare your review index with rate, occupancy, and RevPar indexes to find optimal rates and positionning in the market place