Podcast: Why 2020 Should be the Year of MICE Revenue Management
The topic for this discussion is MICE Revenue Management, we hope you enjoy it, prompt some thoughts and, even better, actions!
The areas covered in this wide ranging discussion are:
- What is MICE Revenue Management
- Group Size
- Fit to Function Space
- Meeting Room Occupancy compared with Hotel Occupancy
- What are the challenges and barriers
- People – Revenue Management, Meeting & Events, Operations
- MICE seen as ancillary revenue not mainstream
- Data, KPIs and tracking
- Technology – RMS, PMS
- What is, or isn’t, measured, how is this tracked and where is the revenue attributed to
- S**t data in, S**t data out
- Importance of decling requests
- Budget of declined request
- Risk of first come first served
- Where are we currently with KPIs and benchmarking, Is Occupancy a relevant metric to consider – there would seem to be a question mark over that.
- Technology and limitations of current systems
- Yielding Daily Packages
- Demand pace
- Sell or not to sell
- Why is ‘non rooms’ revenue considered “ancillary” and not just another revenue stream leading to Toal Revenue.
- How the growing demand for online of booking of MICE space will drive the need for greater focus on MICE Revenue Management
Pontus Berner: Co-Founder & Managing Partner
Originally from Stockholm, Sweden, Pontus settled down in Germany in 2011. After graduating with a BA (Hons) in Int. Hospitality Management with Finance and Revenue Management from Glion Institute of Higher Education in Switzerland, he took on various leading roles in revenue management for big international hotel brands. Using his experience, he decided to follow his entrepreneurial mind-set and set up berner+becker with Lars. With his visionary approach he ensures to keep creativity and growth a priority for the company.
In his free time Pontus enjoys skiing on snow or water, it just depends on the weather! He doesn’t say no to a cheerful round of golf or a competitive game of tennis either. Pontus also loves travelling, seeing new cultures, enjoying good food, and spending time with family and friends.
Niki van den Broeck: Manager of Business Development
Niki has been with Get Into MoRe from the very beginning where she is responsible for all things commercial. She’s a big fan of data driven decisions in all areas of life and passionate about helping hoteliers optimise revenue from Meetings, Events and Group Business by deeply understanding their internal KPI’s and building strategies based on them. She’s happy to connect on LinkedIn (LI Profile) to talk about all things MICE.
Henrik Karlsson: Client Relationship Manager