Hoteliers are finding themselves caught in a squeeze between balancing financial performance and meeting evolving guest standards. After two years of meaningful RevPAR growth for most of the properties we support, we expect that to slow significantly to match more closely with industry trends, which project a 3% growth in 2024.
Today's travelers, heavily influenced by online reviews, prioritize personalized experiences, seamless technology, enhanced service levels, and impeccable cleanliness. Those properties that can deliver will benefit from positive online reviews and attract a larger share of business.
Success in this environment will require focus on a number of important areas and Revenue Matters is doing our part to help.
We have partnered with best-in-class companies to help solve some of these challenges. Hotel Compete’s competitive rate shopping data is fully integrated into MAXTM, leading to more accurate and responsive pricing decisions. Pure Wellness is designed to attract incremental room rate from existing demand, Ascent360 helps to drive more direct repeat business, Travel Outlook is known for its world-class after-hours reservation support, Kennedy Training Network improves conversion with its certified reservation sales training, rOTA helps by recovering additional commissions due from 3rd party channels, and TekEfficient does complimentary audits to identify ways you can save on IT, telecom and utility expenses.
We have also added review monitoring to our social media service offerings and are pleased to welcome Alexandre Sinclair to our team. Alexandre is a talented resource with a deep understanding of commercial strategy analytics.
Ask your Director of Revenue Strategies for more details on how these services can benefit your property.
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Hospitality HeadlinesCBRE Releases 2024 Global Hotels Outlook
Four Essential Digital Ordering and Guest Experience Trends Shaping Luxury Hotels in 2024
Should Revenue Management Be Involved in Reputation Management?
How to make hotel guest reviews work for your property
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Tips & Tricks
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Find out what our directors say about what you should look for in the upcoming year. Comp Set Review Review comp sets at least every other year for accuracy and value positioning. Along with supply changes or renovations, take note of additional services or products at your property and in the comp set that may impact your value position and subsequent pricing strategies. Ensure consistency in comp set property selections, including on STR and rate intelligence tools for accuracy in performance metric analyses. |
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Marketing Corner |
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What are your guests saying about you, and why is responding so important?
Responding to guest reviews is as important, if not more important, than the review itself. Whether or not the experience was pleasurable, as a hotelier, you need to make your guests feel heard, and answering their reviews promptly and appropriately is the best way to do that. If you are struggling with finding the time to do this, that’s where we come in. Ask about our reputation management services and get on top of your guests’ reactions. To find out more about our reputation management services, CLICK HERE.
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Vendor Spotlight
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Ensure you use the right tools to stay on top of the game. Hotel Compete We have developed a direct connection between MAX and Hotel Compete’s competitive rate shopping data. This data, combined with pricing triggers and other capabilities built into MAX, is a powerful way to understand market demand shifts and detect changes in your competitor's pricing strategies. This enhanced transparency leads to more responsive decision-making and improved revenue performance. Contact your Director of Revenue Strategies to find out more. |
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Charity Spotlight |
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Pet Partners We love to reach out and be there not only for our clients but also for the many causes that make this world a better place. This year, we are supporting Pet Partners, an organization that aims to improve human health and well-being through the human-animal bond. Through their ever-evolving interactive therapy programs, seniors, patients, veterans, children, and all those in need of love and support can find happiness and strength in this special bond. Click HERE to donate and help us with our goal! |
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Fitness Challenge Spotlight |
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Fitness Challenge 2024 Our Fitness Challenge is underway, as our three teams of walkers compete to see who can accumulate the most miles and, in turn, give the most support to our charity, Pet Partners. At Revenue Matters, we pride ourselves on finding a healthy balance between work and life, and our annual challenge is always a reminder of how vital it is to maintain that lifestyle. We’ll keep you updated as we virtually walk to all of our clients! |
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Ask, and You Shall ReceiveYour Questions Matter!
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Rave ReviewsWe Shared, You Liked |
Your Favorite Social Media Posts of Q1 2024 |
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303-690-9116 • info@revenuematters.com • RevenueMatters.com