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Revenue Management for B&B Owners. Presented by John Spear Hotel Drisco, San Francisco CABBI InnSpire Conference January 24, 2012. Caveat Emptor. I’m not as funny as Vikram from the Google Analytics session. I don’t use any Star Trek references in my presentation.

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revenue management for b b owners

Revenue Managementfor B&B Owners

Presented by John Spear

Hotel Drisco, San Francisco

CABBI InnSpire Conference

January 24, 2012

caveat emptor
Caveat Emptor
  • I’m not as funny as Vikram from the Google Analytics session.
  • I don’t use any Star Trek references in my presentation.
  • I’m not trying to raise your blood pressure on purpose, but if you fear numbers be warned.
    • Anonymous request for “the kindergarten version.”
who are we today
Who are we today?

How many rooms in your Inn?

How often do you change your room rates?

How do you determine your room rates?

Do you practice rate parity?

How do you discount?

understand your product swot
Understand Your Product: SWOT
  • Strengths
  • Weaknesses
  • Opportunities
  • Threats
swot for hotel drisco
SWOT for Hotel Drisco

Strengths: Upscale location, historic and well-maintained facility, superb service philosophy and execution, upscale amenities, constant capital infusion, #1-2 on TripAdvisor in San Francisco.

Weaknesses: Remote location, 20% “last sell” inventory, thin walls, no parking structure or lot, no individually-controlled heat, no A/C.

Opportunities: Maintain #1 on TripAdvisor, soundproof rooms, install individual HVAC.

Threats:Opening of new comp set hotel, earthquake.

understand your competition s product swot
Understand Your Competition’s Product: SWOT
  • Strengths
  • Weaknesses
  • Opportunities
  • Threats
price value assessment pva
Price Value Assessment (PVA)

Objective comparison of your product (and the perception of your product) to your competition’s.

Perceived value

analyze occupancy data to determine demand drivers
Analyze Occupancy Data To Determine Demand Drivers

Seasonality

Holidays

Festivals/events

Day of week patterns

Shop your competition

Conference “compression”

what does a rented room cost you incremental cost of goods sold
What does a rented room cost you (incremental cost of goods sold)?

Labor?

Amenities?

Laundry?

Wear & tear?

Energy?

Mortgage?

Other (quality of life?)

develop rate tiers
Develop Rate Tiers

Make sure that…

Make sure that…

utilize reservation channels
Utilize Reservation Channels

Phone

Web site

Travel Agents

Third-party sites

RATE PARITY!

rate strategy planning calendar
Rate Strategy Planning Calendar

Blackout dates

LOS (length of stay) restrictions

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