Hotel revenue management has gone far beyond pricing guest rooms using yield management programs. Resort managers in particular have learned that they can use revenue management principles and techniques to get the most profits from food and beverage, spas, pool and golf courses.
David Sangree, president of Hotel & Leisure Advisors LLC, said for example resorts with indoor and outdoor water parks are offering day passes to non-guests to drive revenue opportunities.
“They price their day passes on a daily basis depending upon hotel occupancy and potential demand from the local community,” he said.
For instance, day-pass pricing at a Kalahari Resort or a Great Wolf Lodge may range from $40 to over $100 depending upon the day of week and time of year. During spring break, when these hotels are typically full, a limited number of day passes will be offered at a much higher price. Midweek, while school is in session, day-pass prices are much lower. Many spas also offer special packaging options midweek, combining services at a discount, Sangree said.
“Hoteliers need to think like a guest,” Samir Bhatnagar, corporate regional director of revenue optimization at Prism Hotels & Resorts, said. “By doing this, they can not only anticipate guest needs, but they can also brainstorm on how and what guests buy and where they are willing to spend. Once they identify the opportunities, they can work with their teams on how to best communicate the offerings and execute the delivery.”
For instance, Prism’s resort properties have turned poolside cabanas into a revenue opportunity, understanding that day-of-week pricing and even time-of-day pricing for rentals can generate additional income.
“We look at how we distribute the cabanas as well. Resorts even look at options that allow them to sell to non-hotel guests and give a resort experience to either locals or neighboring non-resort property guests without ever displacing direct-booking customers,” Bhatnagar said.