Anyone planning a new hotel should not be too superficial in calculating profitability. Especially non-industry investors for new hotel planning quickly underestimate the key factors of price and revenue management strategy and distribution.
Just like the quality of the future hotel and the resulting guest reviews, a modern price and sales strategy is particularly relevant to success. If price strategy and sales concept are considered superficial within the framework of the hotel concept, and not developed by experts for revenue management and distribution, this may result in incorrect sales expectations and incorrectly estimated costs for the future distribution. The concepts must therefore be part of a meaningful feasibility study for a new hotel.
Would you think that in many city hotels, half or more of the future overnight stays are produced by online travel agencies? And that the commissions to be paid are between 12 and 25%? And that holiday hotels are on their way to achieving these values?
Do you know that a demand-oriented and software-based revenue management strategy can increase the revenue per room available (RevPar) by 20% to 50%? Thus, it is really more sensible that experts are already developing the future strategy in the planning phase of a new hotel and thus lead to a realistic sales forecast.
Did you know that in many well-managed hotels, 50% to 80% of the room reservations and an ever-increasing proportion of meetings and group bookings are fully automated and booked by the guest independently into the management software of the hotel? Naturally, investments in software and employee competencies are to be planned for these customer-friendly and cost-saving booking processes.
To avoid costly mistakes, you need real experts for the planning and subsequent profitability calculation for a new hotel.
If you want to understand even better why the planning and design of a new hotel requires more competences than an operational hotel training, then ask for a non-binding and free telephone call with Marcus Becks.
Marcus Becks, Manager (Hotel Consultant and Coach) Marcus Becks began his professional career with the vocat…
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