If this crisis has taught us in hotels anything, it is to think the unthinkable. Only a few short weeks a drop in RevPar might have been our biggest concern
The procedure is analogous to that of the simplified Displacement, that is, the value of the group must be added to what we have already On The Book (OTB) and we will obtain a first sales scenario
Each time we do a group quote we must evaluate the impact this has on the date of stay in the booking time, but also the selling of remaining capacity to the exclusion of other profitable segments
If sales and revenue management can understand what they each value in their decisions, together they can better support one another and achieve the overarching goals of the hotel.
As a hotelier, ask yourself: Is group business the missing piece to your revenue management strategy? If so, what tools do you have in place to change that?