Hotel Revenue Management
Vinnca is emerging as one of the best handlers of hotel revenue management, and with our remote revenue management services we help independent hotels increase their financial performance. Our hotel yield and revenue outsourcing specialists implement Vinnca’s innovative and proven methodology to grow the RevPar and GopPar results of your hotel or resort.
Our revenue management expertise have an extensive experience in both the hospitality travel & tourism industry, and leave no stone unturned to achieve the hidden revenue potential of your hotel, to increase your bottom line. We are hands on with the overall process and aim to challenge the status quo and established order.
Vinnca’s Revenue Manager and yield experts will be incorporated in your hotel management structure and shall operate as a part of your team taking on the responsibilities and duties of revenue management.. We will help you outperform your competition and become a leader in your local market.
We would be covering the areas and actions highlighted below when taking over a hotel, either as a turn around project or new opening;
- Adopt a healthy market segmentation for the hotel
Increase revenue by stimulating demand and use existing demand for the destination
Push forward the hotel on potential distribution channels to enlarge the demand
Optimize direct sales and distribution via website and phone
Structure the pricing management
Set strategic pricing in terms of public and negotiated rates
Handle all Revenue management tasks on a daily, weekly and monthly basis
- Vinnca will study the main competitors of the hotel within the locality to assess their price positioning in relation to their products offering. Vinnca will build a report comparing the strengths and weaknesses of the main competitors and the hotel. The report will aim at building the Price – Value relationship that the hotel can provide in front of its main competitors
- Vinnca will benchmark and compare the pricing strategies of the main competitors and the hotel. The study will look at the public prices but will also try to pinpoint negotiated rates such as corporate rates. The study will look at a year period: day by day pricing by length of stay. The benchmarking will show how the hotel is priced competitively and create or revise the pricing grid.
Vinnca shall evaluate the distribution of the main competitors: GDS, IDSs and off line through mystery calls. The study will look at promotion management, length of stay pricing per channels. The study will also look at the distribution management of the hotel, inventory availability management, rates availability management in periods of low to high demand. The benchmark study will look at the competitive strengths and weaknesses of the hotel and create an action plan for self, with a primary focus to contract the right new distribution channels
Upon the benchmarking studies, Vinnca will review the existing pricing grid or build a new one and discuss the pricing strategies with Vinnca’s Core Team for stimulating the demand. Both public prices and negotiated rates with multiple length of stay will be assessed and recommended. Pricing will be recommended per period of demand: low to high periods. Negotiated corporate rates will be rVinca will review the demand calendar, or create one, and analyze strength of demand day by day per period (with or without events), in view of day by day rate strategies.eviewed in relation to the production and corporate accounts. The sales team input will be important.
Vinnca will review the demand calendar, or create one, and analyze strength of demand day by day per period (with or without events), in view of day by day rate strategies.
Vinca will develop dynamic rate strategy sheets with the following objectives:
Day by day pricing strategy for one year will be shown (price value per length of stays day by day will be recommended)
Pricing strategy per channels of distribution
Yield strategies with restrictions on peak periods
Vinnca will also review or build the rate loading and the rate management through all electronic distribution channels to ensure that all prices are correctly shown and bookable. Two meetings are planned before the start of implementation.
Vinnca will develop the implementation of the suggested action plan. As the main challenges based on current occupancies seem distribution and pricing oriented.
Vinnca will focus on getting the required results. This includes contracting online and offline distribution channels.
And don’t think for a moment this cannot be applied in your hotel property. With our revenue manager for hire team we can manage a diverse portfolio of top performing hotel companies, ranging from independent boutique hotels, luxury design hotels, beach hotels & resorts, innovative hotel concepts, apartment hotels, vacation rental properties, tourist apartment blocks, regional hotel firms, and even small country side / rural hotels, modern budget hotels, camping sites and guest houses.