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Hotel Industry News |
Thursday August 21st, 2008 |
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Marketing & Revenue Management Plan 2009 - Succeeding in a Difficult Year |
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The crystal ball is cloudy for 2009 but most of the forecasts are indicating that if will be a difficult year for the hotel industry well into at least the third quarter '09. It's no longer good enough just to calculate a percentage rate and REVPAR increase. |
'There are so many unknowns. We do know that the impact of the reductions in airline capacities and increased fares has yet to be felt, 'says Carol Verret. 'In addition to that, the price of oil continues to rise with no clear end in sight resulting in pressure on both corporations and the consumer.'
In this web cast we will explore the issues to take into consideration during the planning process and how to prepare for success in a difficult economy.
• Rates and REVPAR. While owners are pressing for increases due to increased costs, we will explore how to evaluate rate setting using market intelligence from various sources.
• Channel Management. Where is the rate and revenue going to come from? Which channels have the strength to generate new demand and revenue?
• Sales and Marketing. Responding to shifts in the market, what segments have the potential to produce new business? How to read, evaluate and solidify relationships with current accounts in order to maintain and/or increase revenue from them. This will be key to thriving in the current economy and for positioning when the economy begins to recover.
• Allocation of resources, both monetary and human. There is a lot of pressure to cut sales and marketing budgets. How to reallocate marketing dollars effectively will be critical. The organization of the sales office may need to be retooled to maximize sales effectiveness given changes in the group markets.
At the conclusion of this web casts, participants will have a better understanding of the trends in the industry, how to evaluate their impact on their specific markets and how to apply cost effective tools and processes to win in 2009.
This web cast should be attended by sales and marketing professionals as well as revenue managers, GMs and anyone else involved in the planning process for 2009.
The web cast will take place on July 11 at 1:00pm EST, noon CDT, 11:00 am MDT and 10:00am PDT. The fee is $139 for a single connection and $129 for two or more connections from the same company. To register click here.
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