transitioning from excel to a revenue management system
TRANSCRIPT
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Transitioning from Excel to a Revenue Management System
THURSDAY, AUGUST 27 - 9:00AM (PDT)
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Next Webinar – September 30th – 9:00am PDT
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Founded byIndustry Leaders
Committed toCustomer Success
Leverage Integrated Hotel Systems to Boost Revenue per Guest
Julie BeasVP of Deployment
Duetto
Chris DonahueDir. Product ManagementSpringer-Miller Systems
Danny LopezClient Experience Mgr.
SHR
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About Duetto
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Founded byIndustry Leaders
World-ClassTechnology Development
Committed toCustomer Success
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Our Speaker
Tim KolmanSenior Solutions Engineer
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Agenda
▍ The early days: Challenges of using Excel
▍How a revenue management system will impact your daily job
▍ Integrate technology into your weekly meetings
▍ Track crucial data and create the best reports
▍ Exploring the ROI of a revenue management system
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The Early Days
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RM life with no system
1 Hour
Morning
Produce Morning Report, e.g. Pick Up Analysis per segment.
Analyze morning reports, to find out key information.
Update RM recommendations on excel.
Manually upload rates and/or Restriction on all channels
1-3 Hours 1-2 Hours
1-2 Hours ? Hours
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RM life with no system
Total Time (Daily)9-14 Hours
Evening
Manual forecastQuick Review Group Quotation
Strategy, i.e. Excel documents for Group desk
1 Hour 2 Hours
Quick Review Group Quotation Strategy, i.e. Excel documents for
Group desk
Update pricing, review strategy short and long terms, emails.
1-2 Hours 1-3 Hours
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RM life with no system
2-3 Hours per Week 1-2 Hours per Week 1-2 Hours per Week
Produce weekly reports for reviews with GMs & CEO.
Business review with GM,CMO & CEO looking at pick-up report and pricing reco for next 2-3 months
Complete review group quotation strategy, i.e. Excel documents for Group Desk
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RM life with no system
Total Time Weekly 8-11 Hours
2 Hours per Week 1 Hour per Week ? Hour per Week
Weekly strategic destinations review with every Wednesday using data extracted on
Tuesday of previous week!Check and update Event Calendar
manually (from reservations feedback)Hotel Report & Cluster – Usage and
implementation still to be defined further
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Using Excel? What you’re missing …
| No real-time data
| Excel prone to error
| Not everyone is proficient in using Excel
| Input -> Output
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How an RM system will impact your job
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One Platform
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Review and Monitor AlertsReviewing Revenue Opportunities
Quicker decisions
OTB, PickUP, Forecast, Price Recommendations (LIVE from
PMS)
Integrated data such as STR, Competitor data, Online
Reputation, etc can all be seen on the same platform.
Price recommendations according to setup business
rules & forecast are directly sent back to PMS
!
An RMS gives you back time, so your team can be more strategic and less operational
4 hours on the same platform – no more Excel
RM Daily Tasks
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How an RM system will impact your daily job
One platform for all! No more updating several excel spreadsheets No Speed Constraints!
.No more Excel and logging in to various platforms
Saving time and removing the risk of human error
Your team can be more Strategic and less operational
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Business Rules Support & Training Alerts
!Enabling quicker decisionsEnabling to protect peaks in the demand and
optimize low demand periods
How an RM system will impact your daily job
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How an RM system will impact your daily job
▍No manual report running and updating spreadsheets
▍Near real-time data
▍Accurate data
▍Easy user interface
▍Flexible reporting
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Using an RMS as a collaboration tool
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Using an RMS as a collaboration tool
A Unified View
▍Stakeholders always on the same platform
▍Stakeholders can receive alerts in real time
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Using an RMS as a collaboration tool
One-Stop Shop
▍Application houses additional third-party data used in making revenue decisions
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Using an RMS as a collaboration tool
Yield Meeting Report
▍Review all the key revenue metrics that you would during your meeting
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Integrate technology into weekly meetings| Meeting Strategy
| Who should attend your meetings?
| What are the common reports to discuss at these meetings?
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Track crucial data and create the best reports
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The availability of Big Data
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MacroeconomicData Air Travel
Competitive Pricing
Reviews &Social Media
WebShopping
Weather
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Exploring the ROI of a revenue management system
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Exploring the ROI of a revenue management system
Hard ROI
▍RMS increases in RevPAR through OCC and ADR
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Exploring the ROI of a revenue management system
Soft ROI: Save 5-15 hours per week
▍Time saved during analysis and implementation stage
▍Spend more time being strategic
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Exploring the ROI of a revenue management system
The effect on business
▍Open Pricing
▍Lost Business (Regrets & Denials)
▍Event Management
▍Air Travel & Weather
▍Group Displacement
▍Smart Alerts
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Evolving Tech Partners
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RegionalOffice
Owner Hotel Brand
PropertyManagement
Operations
Sales &Marketing Distribution
RevenueManagement
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Evaluating tech partners
▍Create a partnership
▍Benefits of a Customer Success team
▍How important are integrations?
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Next Webinar – September 30th – 9:00am PDT
31
Founded byIndustry Leaders
Committed toCustomer Success
Leverage Integrated Hotel Systems to Boost Revenue per Guest
Julie BeasVP of Deployment
Duetto
Chris DonahueDir. Product ManagementSpringer-Miller Systems
Danny LopezClient Experience Mgr.
SHR
![Page 32: Transitioning from Excel to a Revenue Management System](https://reader036.vdocument.in/reader036/viewer/2022070603/5870c5941a28ab0b4a8b8223/html5/thumbnails/32.jpg)
Questions?