Choice Hotels International is aiming to boost owner profitability with a free resource for its hotel owners: Your Key to Profit. Launching in the fourth quarter of 2022, the new platform will centralize all Choice's proprietary profitability tools in an on-demand, mobile-friendly system.
"Choice Hotels' award-winning tools, capabilities, and expert advice from revenue management consultants enable franchise owners to quickly execute the right pricing strategy and effectively reach our target customers, which is critical in this inflationary environment. Our enduring pledge to help franchise owners not only succeed, but thrive in the marketplace is our driving focus," said John Bonds, SVP, enterprise operations and technology at Choice. "Regardless of brand segment, Your Key to Profit unlocks a range of property-specific opportunities to help hoteliers lower their total cost of ownership while helping fuel profitability. This tool is the latest example of how Choice proactively evolves its technology to enhance the hotel ownership experience and serves as another proof point for why the company continues to have an industry-leading voluntary franchisee retention rate."
The Your Key to Profit platform will be directly accessible from ChoiceAdvantage, the company's property-management system, and includes a portal with frequently used franchise resources:
- Profitability benchmarking tools, such as HotStats. Choice Hotels owners will also have access to Choice's proprietary channel-mix calculators, budget templates, hiring resources, and vendor information through the new platform.
- The Profit Playbook, an updated hub with tools, resources, best practices and professional services to help franchisees boost profitability and provide insights on what drives profits within the larger Choice community.
- Revenue-management resources, including ChoiceMax, designed to help owners more effectively manage room rates, distribution channels and inventory.
- Choice University, the company's learning platform featuring training modules that franchise owners can access to help refine their leadership skills and streamline hotel operations.
The new system's mobile-friendly capabilities also aim to make it easier for existing owners to connect with the company's area directors, a field-based team of hotel operations experts. These experts continue to support owner profitability by providing one-on-one consultation to help owners increase their operating efficiencies for a better return on their investment.
The Your Key to Profit platform will include a new interactive message board feature to let owners post their successes and share best practices with their peers.