Revenue Management - Jobs for January
It may be difficult to come to terms with the latest Government announcements from earlier this week, putting the UK back into a national lockdown, however, it’s important to stay focussed and to look forward.
Below are 10 ideas of areas that you be concentrating on across these next few weeks ahead:
- Load Christmas and New Year 2021 rates and packages and update your festive pages on your hotel’s website.
- Double check that any Q4 2020 promotions have been expired, otherwise you may be charged additional commission unnecessarily. Expedia free accelerator credits is a good example.
- Check in with your corporate accounts. They may not have requirements just now, but a quick call to say hello, and to remind them that they have a negotiated rate would only take 5 minutes, or less via email.
- Ref. point 3, double check that your corporate rates have been extended beyond 31st December 2020, and that they are visible across the relevant channels i.e., GDS.
- Check that all inventory restrictions in your system are still relevant. Historical restrictions against specific rates and dates may no longer be needed.
- Go back to the drawing board with a pricing matrix to sense check your pricing strategy against your competitors. Check what has changed and act upon any new information.
- If your forward inventory is set to 550 days, then set up your Summer 2022 strategy.
- Make sure that you have your events calendar set up for any known events for 2021 and 2022.
- Map out your 2022 group strategy.
- General housekeeping in the PMS, tidy up and remove expired rates, merge duplicate guest profiles.
If you would like advice on your hotel’s revenue management strategy, or would like to discuss our tailor-made outsourcing solutions, get in touch with Octopus Revenue today.