TOP LINE REVENUE ASSESSMENT

In 1997, Robert Cross defined Revenue Management as โ€œselling the right product to the right customer at the right time and at the right priceโ€. Recently, others have added โ€œโ€ฆ and across the right channelโ€. Youโ€™ve likely also heard the maxim, โ€œrevenue covers a multitude of sinsโ€? But maximizing and maintaining top line revenue generation and growth requires persistence and discipline.

Take the following revenue assessment to see where you may be missing top line opportunities.


BEGIN ASSESSMENT

1. Is your asset exceeding all expectations regarding STR metrics (ADR Index, OCC Index, RevPar Index. RPI % Change?
<strong>2.</strong> Are you pleased with the effectiveness of your current business/marketing plan or quarterly sales action plans – and are you confident the plan s will enable you to meet or exceed your goals?
<strong>3. </strong>Have you received any financial improvement from a recent and very thorough Sales Audi, performed with a fresh set of experienced eyes that provided you with practical and actionable recommendations?
<strong>4.</strong> Do you believe your sales team is properly and strategically deployed to maximize revenue opportunities?
<strong>5.</strong> Are you certain that your hotel has catering guidelines and event space free-sell policies in place that will financially and legally protect you and contain industry best practices, but at the same time are likely to be well accepted by customers?
<strong>6.</strong> Does your sales and catering team have an annual process for creating legitimate monthly sales goals (room production and/or catering revenue) and methods for monthly tracking and accountability?
<strong>7.</strong> Does your team have a complete understanding of how the annual consortia RFP process works and a strategic plan in place to feel confident with pricing decisions?
<strong>8.</strong> Does your sales team have a strategic annual Individual Business Travel strategy and are they positioned to maximize the balance between pricing and room night production where needed?
9. Have you recently had success with a sale blitz of your local "backyard" accounts and know how to maximize your ROI on planning and execution of a blitz?
10. Are you confident that your sales efforts have exhausted all opportunities for incremental revenue?
11. Are you confident that you are maximizing your e-commerce or social media advertising opportunities?
12. Are you satisfied with the results of recent promotions or creative advertising campaigns in helping to drive revenue?
13. Do you have any tools in place to assist in the hiring process of your sales team which will improve the likelihood that an individual will be inclined to be more successful in a sales position versus a catering position?
14. Do you utilize a Customer Relationship Management (CRM) system and are you satisfied you are getting the maximum benefit from its full range of features?
15. Do you have common sense sales and catering Standard Operating Procedures (SOPs) or sales/catering contracts containing the latest protections for your hotel?

Thanks for taking this assessment.

If you found yourself answering โ€œNOโ€ to any of the above questions, you may want to select “I wish to be contacted…” before you hit “SUBMIT” below. Give us 15 minutes and quickly learn how we may help you achieve a score of 100%, but more importantly – help you become more PROFITABLE!


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