Templates for Hotel Revenue Meetings

WHO SHOULD ATTEND THE HOTEL MEETING?

• Director of Revenue Management (Meeting Leader)
• General Manager
• Director of Sales and Marketing and/or Director of Sales
• Front Office Manager and/or Reservations Manager
• Director of Conferences & Events
• E-Commerce and/or Digital Marketing Manager
• Members of other disciplines are welcome to attend and provide input

OBJECTIVES FOR  THE MEETING

The Revenue Strategy team will meet twice monthly to review a market-segmented forecast for the following periods:

1. Next 7 days
2. Next 30 days
3. Next 90 days
4. Next financial year end period
5. Next 24-36 month period, and/or in alignment with contracted room night commitmentsLead by the Director of Revenue Management, the team will review the current business on books as well as the forecast for the above mentioned periods.  The focus is placed on maximising revenues over all periods, with a determination made for high and low demand periods as to whether a volume strategy or a rate strategy is to be implemented.  The team will assume additional projects that speak to the overall revenue strategy of the hotel within all outlets.

HISTORICAL ANALYSIS

1. Follow up action items and minutes from previous week’s meeting
2. Review prior week’s strategy and outcomes to critique opportunities in all sales and operational areas
3. Review the cumulative assessment of how the hotel is performing thus far vs. last year, budget, and projection while predicting how hotel will finish the each identified period

FUTURE ANALYSIS

1. Review future group sales strategies and tools to ensure consistent rate quoting for overall revenue strategy
2. Competition update to include: transient call around, reader boards, competitor’s large future groups, automated shopping service results
3. Review transient and group restrictions for next 3 months with focus on next 30 days.  Make changes to restrictions as needed. Discuss need times and overbooking philosophies.
4. Review high demand dates to ensure appropriate strategy exists across all distribution channels
5. Key pivotal factors: (What if’s) eg: if IBM group goes definite it will impact our strategy this way
6. Special promotions tracking: wins/losses

LONG RANGE ANALYSIS

1. Competitor Report review (e.g. STAR, Demand360, Hotelligence, RateView, etc)
2. Proactive pricing philosophies for next quarter (seasonal pricing, special events, promotions)
3. Trend analysis: ex: mix shifts, STAR data trends, segmentation changes
4. Review catering free sell dates
5. Review YTD weekday/weekend P&L by segment

OTHER AGENDA ITEMS

1. Weekly training topic
2. YTD Recap
3. Issues & Opportunities from: Front Office, Sales, Catering, Reservations