World Panel
Viewpoint 8 April 2020

A Post-Crisis Top-3 Revenue Management Action Plan

Revenue Optimization

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A Post-Crisis Top-3 Revenue Management Action Plan
This viewpoint was created by
Scott Dahl, Program Director, Master’s Degree in Hospitality Strategy and Digital Transformation at Les Roches Global Hospitality Education
Linda Gulrajani
VP of Revenue Strategy at Marcus Hotels and Resorts

As we know, every day has changed the way we think about tomorrow so my top 3 will probably change multiple times as we continue to evolve and start to come out of this., but today here are my top three action items for myself and my team. 

  • First, we need data. We need to start tracking new bookings by channel and segment compared to last year so we can determine when to start opening up hotels and when to start spend marketing dollars again. 
  • Second, we need to use that data to determine what channels we invest our marketing dollars in to get our message in front of the people who are traveling. We need to throw away our old marketing plans and focus on the segments and channels that are actually traveling. We may find that this is a totally new segment of traveler for our hotels. 
  • Third, we need to maintain rate integrity and capture direct bookings vs. being reliant on the OTAs. It's OK to come up with some creative, fenced discounted offers, but let's market them to the right audience and only allow them to book direct.

I'm not sure I'm ready to talk about outside-the-box ideas yet, but what i do know is that things will not be the same and we need to start thinking differently.

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