WE ARE GOING TO PRESS THE BRANDS FOR FURTHER COST RELIEF .
MICHAEL DOYLE , MD AND EVP , CHMWARNICK cleanliness and sanitation ,” Bartlett says . “ Advantages like self-parking , high-speed internet and outdoor activities are a bonus right now .” Offering category upgrades , late checkout and packages that capitalize on location by folding in local attractions or activities are other ways to sweeten the deal .
Discounting can be helpful if used judiciously . “ There has to be a fence around that rate , or a description that it ’ s a limited-time offer ,” Stuart-Hill says . When
FREQUENT FORECASTING Forecasting demand is probably the biggest post-COVID conundrum . The science of forecasting hasn ’ t really changed , but demand drivers have been upended . In June , for example , Stuart-Hills says many more travelers were making last-minute travel plans . Pre-pandemic , hotels would typically forecast once a month ; today , a weekly prognosis is more common , given altered booking patterns and the whims of government COVID-related edicts . Staffing projections might need to go from weekly to twice-weekly . “ We ’ re doing a lot more forecasting than we ’ ve ever done before ,” says Monica Xuereb , chief revenue officer at Loews positive way to how things are changing . It ’ s incredibly difficult , but the best thing to do is be prepared .”
Another revenue management consideration : the cost of brand affiliation . Brand managers made a number of concessions when travel ground to a halt , but whether that generous attitude will continue is unknown .
“ We are going to press the brands for further cost relief ,” Doyle says . Owners are looking for long-term solutions that
THE KEY : ALIGNMENT — BETWEEN SALES , MARKETING , REVENUE MANAGEMENT AND OPERATIONS — SO EVERYONE HAS A VERY CLEAR PICTURE OF WHAT SUCCESS LOOKS LIKE .
TREVOR STUART-HILL , PRESIDENT , REVENUE MATTERS
the Radisson Blu Aqua Hotel in Chicago reopened in June , it celebrated by offering guests who booked within 48 hours a 30 % discount , a US $ 15 F & B credit and a chance to win complimentary parking .
Hotels . “ We ’ re learning every week about how things are changing .” To ease the uncertainty , Loews developed multiple scenarios that dictate staffing levels , whether to open F & B operations and whether to deliberately cap occupancy to maintain the company ’ s service standard .
“ If we ’ re prepared for multiple levels of occupancy scenarios , we will have a better chance of being more agile ,” Xuereb says . “ We ’ re being reactive in a will provide ongoing cost relief . Aside from fees , they would like to shrink labor through structural changes , streamlining management and leveraging technology .
“ The natural tendency is to address this crisis , and when we ’ re on the other side just return back to where we were ,” Doyle adds . “ But we should use this as an opportunity to rethink how we operate and put together a better business structure that ultimately performs better .”
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