Are you relying on spreadsheets to make critical forecasting and pricing decisions? Are you spending hours upon hours each week pulling reports and aggregating data? Technology innovations are paving the way for more educated decisions that will affect both operational efficiency and profitability at your hotel. It may seem daunting, but ditching Excel for a more comprehensive and user-friendly revenue management system will allow you to quickly pull reports and adjust prices on the fly.
2. Next Webinar – September 30th – 9:00am PDT
2
Founded by
Industry Leaders
Committed to
Customer Success
Leverage Integrated Hotel
Systems to Boost Revenue
per Guest
Julie Beas
VP of Deployment
Duetto
Chris Donahue
Dir. Product Management
Springer-Miller Systems
Danny Lopez
Client Experience Mgr.
SHR
5. Agenda
▍ The early days: Challenges of using Excel
▍ How a revenue management system will impact your daily job
▍ Integrate technology into your weekly meetings
▍ Track crucial data and create the best reports
▍ Exploring the ROI of a revenue management system
5
7. RM life with no system
1 Hour
Morning
Produce Morning Report, e.g.
Pick Up Analysis per segment.
Analyze morning reports, to find out
key information.
Update RM recommendations on
excel.
Manually upload rates and/or
Restriction on all channels
1-3 Hours 1-2 Hours
1-2 Hours ? Hours
8. RM life with no system
Total Time (Daily)
9-14 Hours
Evening
Manual forecast
Quick Review Group Quotation
Strategy, i.e. Excel documents for
Group desk
1 Hour 2 Hours
Quick Review Group Quotation
Strategy, i.e. Excel documents for
Group desk
Update pricing, review strategy
short and long terms, emails.
1-2 Hours 1-3 Hours
9. RM life with no system
2-3 Hours per Week 1-2 Hours per Week 1-2 Hours per Week
Produce weekly reports for
reviews with GMs & CEO.
Business review with GM,CMO &
CEO looking at pick-up report and
pricing reco for next 2-3 months
Complete review group quotation strategy,
i.e. Excel documents for Group Desk
10. RM life with no system
Total Time Weekly 8-11 Hours
2 Hours per Week 1 Hour per Week ? Hour per Week
Weekly strategic destinations review with
every Wednesday using data extracted on
Tuesday of previous week!
Check and update Event Calendar
manually (from reservations feedback)
Hotel Report & Cluster – Usage and
implementation still to be defined further
11. Using Excel? What you’re missing …
| No real-time data
| Excel prone to error
| Not everyone is proficient in using Excel
| Input -> Output
14. Review and Monitor Alerts
Reviewing Revenue Opportunities
Quicker decisions
OTB, PickUP, Forecast, Price
Recommendations (LIVE from
PMS)
Integrated data such as STR,
Competitor data, Online
Reputation, etc can all be seen
on the same platform.
Price recommendations
according to setup business
rules & forecast are directly sent
back to PMS
!
An RMS gives you back time, so your team can be more strategic
and less operational
4 hours on the same platform – no more Excel
RM Daily Tasks
15. How an RM system will impact your daily job
One platform for all! No more updating several excel spreadsheets No Speed Constraints!
.No more Excel and logging in to various
platforms
Saving time and removing the risk of human
error
Your team can be more
Strategic and less operational
16. Business Rules Support & Training Alerts
!
Enabling quicker decisionsEnabling to protect peaks in the demand and
optimize low demand periods
How an RM system will impact your daily job
17. How an RM system will impact your daily job
▍ No manual report running and updating spreadsheets
▍ Near real-time data
▍ Accurate data
▍ Easy user interface
▍ Flexible reporting
19. Using an RMS as a collaboration tool
A Unified View
▍ Stakeholders always on the
same platform
▍ Stakeholders can receive
alerts in real time
20. Using an RMS as a collaboration tool
One-Stop Shop
▍ Application houses additional
third-party data used in making
revenue decisions
21. Using an RMS as a collaboration tool
Yield Meeting Report
▍ Review all the key revenue
metrics that you would during
your meeting
22. Integrate technology into weekly meetings
| Meeting Strategy
| Who should attend your meetings?
| What are the common reports to discuss at these meetings?
26. Exploring the ROI of a revenue management system
Hard ROI
▍ RMS increases in RevPAR
through OCC and ADR
27. Exploring the ROI of a revenue management system
Soft ROI: Save 5-15 hours per week
▍ Time saved during analysis and
implementation stage
▍ Spend more time being strategic
28. Exploring the ROI of a revenue management system
The effect on business
▍ Open Pricing
▍ Lost Business (Regrets & Denials)
▍ Event Management
▍ Air Travel & Weather
▍ Group Displacement
▍ Smart Alerts
30. Evaluating tech partners
▍ Create a partnership
▍ Benefits of a Customer Success
team
▍ How important are integrations?
31. Next Webinar – September 30th – 9:00am PDT
31
Founded by
Industry Leaders
Committed to
Customer Success
Leverage Integrated Hotel
Systems to Boost Revenue
per Guest
Julie Beas
VP of Deployment
Duetto
Chris Donahue
Dir. Product Management
Springer-Miller Systems
Danny Lopez
Client Experience Mgr.
SHR
Jason will hand it over to Tim … Tim can give a few minute background, mention sales and property-level experience
Creative – Can we get an image of someone sorting through a stack of spreadsheets?
T – this is an “in summary” page, highlighting the key points from the last four slides
T - ONE PLATFORM
Hotels are inundated with Data, there are too many data sets and tools that take time to review and are important for our decision making process, so by the time our team finish reviewing all of them, a lot of the data is no longer fresh or accurate.
T – this is an “in summary” page, highlighting the key points from the last four slides
C- Could we get an image of a bunch of people around a meeting table?
T - (mention alerts to changes in demand, competitive pricing and other changes the system identifies)
Creative – Can we get a screenshot of a page on the app where third-party data would be factored?
Creative – Can we get a screenshot of what’s discussed here?
T - AND immediately implement rate changes from that same page in the application
Creative - possibly the same stock shot from before showing a bunch of people sitting around a meeting table
C – this image could work here
T – Let’s spend a good amount of time on this slide and touch on each of these--STR, Web Activity, Weather, Air Traffic, Reputation Management—expand on each of them a bit. If you need hypothetical examples of how each could affect demand at a hotel, I should have that.
Creative – Need some type of image to explain ROI – Perhaps a bill or a briefcase full of money ;)
Creative – can we get an image of a generic chart showing increases?
Creative – can we get an image of a business person calm and under control, maybe looking at his watch?
T- this is an important point, we should spend some time explaining it, perhaps with an example or two.
T – Touch on each of these and explain what they are if you havent already, but most importantly note that a system allows you to do these things easily whereas with Excel it is almost impossible
Creative – Do we have a slide showing how RMS fits into the grand scheme of hotel technology?
Tim, to beef up this presentation a bit, let’s spend 3-5 minutes at the end discussing once you’ve made the decision to implement some RMS technology, how do you go about researching and choosing the right one?