Technology

Simplify your technology for better revenue management

14 Feb, 2012 By: Andrew Sheivachman

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When companies manage a series of hotels in the same region, a better understanding of local market dynamics is essential to effective revenue management.

“By using automation tools for channel distribution, it allows us to be more effective in time management and get rates and inventory out to channels without having to jump through 700 different hoops,” said Sean Kline, director of enterprise systems for Joie de Vivre Hotels. “The ability to have one spot to upload and change that info and know its effectively going out allows us to focus on revenue-producing ideas. If a revenue manager is spending three-quarters of his time on channel management, that’s less than a quarter of their time given to look at what is happening in national, state and neighborhood levels, All those are the things that drive revenue and our profitability.”

For Joie de Vivre, understanding the relative value of loading product into one channel over another is a major focus. By automating the sale of rooms to OTAs that may have been manually managed in the past, using technology from EZYield, the company has been able to better optimize revenue across its hotels.

“The landscape constantly changes,” said Kline. “When I came on board with JDV five years ago, at the time we had no direct relationship with a channel management tool. We had used previous iterations and we had very limited success with a lot more issues than successes. Five years ago, we wouldn’t put suite out there on an OTA. Now, automation allows us to give a wider swath of rooms that can be sold. This lets us become more and more profitable.”

Topic : Revenue Management, Joie de Vivre Hotels
External Source : Hotel Management