Revenue Optimization
Situational Overview
A large management company (over 500 hotels of varying service levels and sizes) hired Aspire to assist in the development and execution of a revenue management and optimization vision. The outcome was to be a customized revenue optimization learning program that incorporated tools and processes around the preparation and delivery of a situational analysis by a consultant that would support the overall optimization strategies by the management company while providing valuable service to their hotels.
Recommendations
- Custom design a Situational Analysis and Recommendations process
- Design a customized Revenue Optimization training program that will provide Consultants the process, tools and knowledge to conduct a situational analysis
- Develop a certification process that will provide measurable performance and evaluation
- Develop and integrate tools to support the overall process
- Integrate processes that will improve the capture of relevant information and the subsequent analysis
Solutions
- Developed full day Program Map to define learning content
- Developed Customized Situational Analysis Format
- Developed Customized questions around property visit and scenarios based on answers of those
- Developed the tool for presenting discovery and recommendations
- Developed implementation log – how to track the progress of a hotel
- Created customized program manuals and appropriate tools
Results
- Created a standardized revenue optimization property analysis and recommendations process
- Integrated company’s revenue optimization methodologies
- Developed “best practice” tools that would allow consultants to apply Revenue Optimization concepts to properties and present situational analysis and subsequent recommendations resulting in improved performance of the property
- Maximized Revenue Management Consultant productivity
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