Third-party hotel management company Chesapeake Hospitality has launched a new revenue management initiative. The program, RevAdvantage by Chesapeake, aims to support hotel owners and operators’ revenue management needs through short- and long-term partnerships while they strategize in an industry suffering record low demand during the pandemic.
“We believe that times of change offer the greatest opportunity for innovation,” said Chesapeake Hospitality CEO Chris Green. “While the industry at large grapples with an unprecedented decrease in demand, we felt it was prudent to offer the expertise of our outstanding revenue management team and come up with solutions together. RevAdvantage is Chesapeake’s new service offering to share our trusted expertise to owners and operators, specifically in the area of revenue management and set them up for sustained profitability long past the recovery phase.”
RevAdvantage is designed to provide short- or long-term assistance that supports existing processes, allowing owners to essentially get a second opinion on their revenue strategy and determine their plan for recovery. The team is led by Cassie Bond, who in 2018 was recognized by the Hospitality Sales & Marketing Association International as corporate revenue management professional of the year.
“The last six months have tested even the most prepared hotels,” Bond said. “It’s not enough to simply have a plan for revenue maximization. Today, owners and operators truly need a trusted partner that drives and executes revenue strategy every day, with a relentless drive to capture every dollar. RevAdvantage provides accessible, expert-level insight to those who want to establish a successful revenue plan, no matter what the future holds.”