Consult To The Max offers a full menu of professional services for hotels and small businesses
Hotel Revenue Management and Pricing Strategies
- We will conduct a Hotel Sales Review to determine . . .
- Are you properly priced for your market?
- Is your pricing strategy an upside-down or down-side-up pricing pyramid?
- Are Automatic Pricing Systems available to you and are they properly configured?
- Corporate Account Negotiation Best Practices
- Are your corporate accounts properly priced?
- Should you be providing value add benefits or offering discounts?
- Which accounts should be Last Room and Non Last Room Available?
- Is your Government Per-diem rate structure competitive?
The difference between price setting and strategic pricing is the difference between reacting to market conditions and proactively managing them. Strategic pricing is the coordination of a balance between marketing, competitive, and financial decisions which help you set a coherent pricing strategy and increase profitably.
- STR Competitor Benchmarking Audit
- Who is in your Comp Set? Do they really belong there?
- Reviewing the Comp Set with on-site visits to each competitor
- On-site Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis
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Let us do a market positioning analysis to determine where you are in relation to your competitors. Are you taking advantage of your hotel assets, are you letting your clients know the benefits of them staying with you vs. the comp set? Are you properly marketing your hotel?
- Tour Operator & Wholesaler Contracting
- Are you offering the right price to the right customer in your market?
- Are you cannibalizing your own business?
- If so, is this affecting your rate parity?
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In today’s competitive environment, everyone wants a piece of the pie. While there is a need for traditional Wholesale and Tour Operator business, many have moved to a less traditional Business to Business environment (B2B) This can cause issues with rate parity as many traditional Wholesale/Tour operators, are increasingly offering your highly discounted inventory to online websites. Is your property leaving money on the table?
- Distribution channels audit and inventory distribution
- We will perform an audit of all channels including proprietary website, Hotel Descriptions online and in GDS.
- Available Marketing opportunities with and without cost
- Are you near the top (or stuck at the bottom) of an OTA search?
We will explore all avenues to improve your placement. From online marketing opportunities to special promotions for “Need” periods, let us help you decide what the best avenue for your property is.
- OTA Extranet Management - Small hotels
OTA extranet rate management is quite time consuming. We can do all the work for you and update your rates. We take care of this task and free up time for you to focus on other tasks like the day to day operation of your hotel, sales initiatives and revenue management strategies.