Stability in profitability and growth in asset value are reliant on one key reality – predictable base revenue streams generated from well- executed sales strategies. An effective selling strategy and a well defined property positioning plan which leverages the best attributes of your hotel, your team members and your marketplace are paramount.
To maximize all revenue growth opportunities, all channels of contribution have to be optimized: the in-house sales efforts, front desk, electronic channels as well as brand resources.
- Undoubtedly, your key team members work diligently to generate results; however, you may feel that there is additional opportunity and potential in your market.
- How can you optimize and manage the sales effort for greater measurable performance and accountability?
- What direction can you provide to the sales effort in order that it is strategically focused and aligned with your objectives?
- How can you operationalize a strategic shift in the sales, marketing and positioning plan which will result in a better-defined and more profitable client base?
THE SALES PROCESS
Sales should be the strategic tool that targets your markets of choice, not by coincidence but very much by design:
- Developing strategic relationships
- Targeted messages and collateral materials.
- Flexibility borne from understanding the value and bottom-line contribution of various segments
- Relevant training for the team, plus a defined process, with clear targets for specific results
- Engaging both the front desk and sales team to collaborate in recognizing and capturing opportunities
RevMax Hospitality can help:
With approximately 80%+ of your bookings directly influenced by web-based tools:
- Are you positioned most advantageously in this 24/7 channel?
- Are you targeting the right market audiences with the right value offerings at the appropriate times?
- With the growing relevance and importance of social media marketing, do you have a policy and plan to engage with these media channels?
For other distribution channels – GDS, Host/CRO, voice-based reservations, amongst others:
- Are they optimized for maximum revenue contribution? Brands have their own specific protocols: knowing the protocols and leveraging them to your benefit is an important step to drive incremental revenues from these channels.
- The Global Distribution System is a particularly powerful source of corporate booking contribution – are your property description and selling parameters optimally loaded?
- Are your RFP opportunities strategically presented? Is there good visibility of your property to the end user?
In many cases, property based reservations are the largest source of bookings.
- The Front Desk is probably your primary source of bookings at your property. Is your team honed to deliver results as your main engine of revenue?
- Are they empowered to make critical decisions so no selling opportunities are lost?
- Do they know the impact their decisions have on the overall performance – and how they can drive incremental income? One additional room sale is roughly equivalent to the cost of one average shift of a team member.
RevMax provides the tactical tools and the training to ensure you have a highly productive sales team and that all distribution channels perform for you.
PRACTICAL STRATEGIES TO MAXIMIZE PROFITS