Revenue Management
2
How do we price right to maximize
revenue?
Raise/Lower Rate
Strategically
•
•
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Market, season, demand & competition
Special Event pricing & restrictions
Price by room type
Optimize
Discounting
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•
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Promo & APR discounts & availability
Corporate negotiated rates
OTA availability
•
Evaluate segments by rate, stay patterns,
contract terms
Grow higher-rated business & shift away
from lower rates
Change the Customer
Mix
3
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Are you signed up with ChoiceRM?
Dynamic Pricing
Environment
Possibly a fit for
ChoiceRM
Likely a good fit
for ChoiceRM
Less than $1M GRR
Above $1.5M GRR
Possibly a fit for
ChoiceRM
SmartRates
Static Pricing
Environment
4
31 Ascends have
signed up for
ChoiceRM
Average GRR $2.6M
5
19% of Ascend hotels
27% of Ascend revenue is
being managed by Choice
Revenue Managers
Here’s How it Works
Revenue Strategy Call
• STR review and
analysis
• Segmentation
Analysis
• 90-day Strategies
• Review of
SmartRates Pricing
Recommendations
& Forecast
• Future Pace &
Pickup Analysis
• Strategies for
Special Events
• Revenue Meeting
Recap
6
Services Included
• Email with Reports and
Strategy
Recommendations
• Annual Performance
Review
• Pricing Structure
Analysis
• Business Mix Analysis
• Channel Analysis &
Strategy
• Corporate Pricing
Analysis & Strategy
• OTA & Opaque
Analysis
• Promotion Strategy &
Analysis
Additional Services
• Group Strategy &
Pricing Review
• Group Displacement
Analysis
• Rates Center,
SmartRates and
choiceADVANTAGE
System and Report
Training
• Sellout Efficiency
Analysis
ChoiceRM and SmartRates work
Together to drive revenue
ChoiceRM revenue managers are
skilled at interpreting your
SmartRates recommendations and
optimizing the Forecast
SmartRates is a tool used by
properties and their Revenue
Manager to price right
Partnership
SmartRates provides BAR
pricing recommendations that
the revenue manager
incorporates into the overall
strategies of your hotel
7
SmartRates fees are included in
the ChoiceRM services and pricing
SmartRates drives revenue for the most
engaged* hotels
These users represent all brands and market types
Market Type
Small
Metro/Town
Suburban
Urban
Interstate
Airport
Resort
*Accepted at least 20 recommendations per week
8
Easy to use on the go – SmartRates is
mobile friendly
9
More flexibility with Rates Management
Using the Override feature, you
can type in and save a unique
rate and/or tie it to a different
BAR level.
It will override the rate just for
that date.
10
Let AutoPilot manage your rates beyond
your booking window
11
Are your hotels getting the most out of
SmartRates?
Make it a habit
Have a clean
forecast
Accept
recommendations
12
Log in every day
Manage Groups and
Events
Use AutoPilot