Hotel Revenue Management Services
Hotel revenue management is a strategic approach to optimizing hotel operations and maximizing profitability. With more than two decades of experience, Prospera Hospitality helps hotels analyze and understand their demand patterns, pricing strategies and inventory management to more effectively optimize their revenue.
Maximizing Hotel Revenue
Revenue management is an essential component to maximizing the value of hotel properties. Seasonal fluctuations, market demands, and the moves of your competitors influence your occupancy rate and the value to your customers. Prospera Hospitality’s services leverage our expertise and established systems to optimize revenue at all times, creating a long-term foundation for success. It’s equal parts art and science, using data and a deep understanding of hotel brands, the hospitality industry as a whole, and the local market.
PROSPERA SERVICES
Meet Our Revenue Director
Jamie Carson, Corporate Director of Revenue Management, identifies future demand and opportunities for hotels to create a sales strategy to ensure optimal profitability.
With close to 20 years of experience in the hospitality industry, Jamie is highly qualified and a skilled, analytical forecaster on our team.
When you partner with Prospera Hospitality to run your Revenue Management, Jamie will analyze your business and its operations and identify opportunities to increase profits.
All of our services are tailored to your property’s specific needs.
Prosper with Prospera Hospitality
Our experienced revenue management team assists our clients with getting everything just right to maximize the long-term value of each guest. We have a fully transparent revenue management, corporate finance, and accounting team that works together to ensure all aspects of the business are perfectly matched for the market.
A Long-term Solution
Prospera Hospitality takes a long-term, holistic approach when evaluating a property’s performance and productivity; we fine-tune for balance among revenue growth, bottom-line profits, and guest and associate satisfaction.
“We view Revenue Management as a vital component of the sales process. Having a dedicated person strictly focused on maximizing revenue is critical to our success. Prospera’s Revenue Management services is THE key component to driving top line revenue for our hotel. ”
Britt Udemi, General Manager, Hilton Austin Airport
Keep Your Guests in Mind
Maximizing revenue means being the right choice for the guest at just the right time. Everything from the length of stays available, the room types, prices, booking channels, and other components must be perfectly aligned with the guest’s requirements.
“Using Prospera Hospitality Corporate Revenue Management has been a blessing for the hotel. Jamie is always available for a call; she is open to ideas and helps create a selling mentality for the team. She is super knowledgeable of the market and selling strategies for our location!”
David Blawut, General Manager, The Inn at Franciscan Square
A Tailored Approach
Prospera Hospitality uses a consistent yet nimble approach that is customized to each property’s needs. Our skilled revenue management team works closely with every client to strive for maximum RevPAR and to achieve key performance indicators. Our long-term approach sets up hotels with sustainable best practices to keep revenue growth steady. Each customized plan balances bottom-line profits, guest satisfaction, and associate satisfaction to create a memorable and lasting hotel business.
“Prospera’s revenue management services are seamless. They enable the property team to focus more energy on operating the hotel, while having dedicated, very experienced revenue management support.”
Rob Dacey, General Manager, Hilton Garden Inn Pittsburgh Airport
The Prospera Approach to Successful Revenue Management
Prospera Hospitality focuses on revenue growth and bottom-line profits for a balanced approach. Through data analysis of marketing demand and specific location and destination trends, we develop a predictable revenue plan for each of our properties.
Our experience with all of the major hotel brands in the U.S. market provides us with the background necessary to implement best practices for each unique brand. We set measurable goals and track the data to ensure that our revenue management services are meeting expectations and improving the hotel’s financial health. We also have experience with independent hotels and have repositioned hotels to optimize their revenue performance.
Benefits of Revenue Management Services
Partnering with a hotel revenue management company offers many benefits for branded hotels, independent hotels, resorts, restaurants, lifestyle centers, and other hospitality businesses.
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PREDICT BOOKING TRENDS Gain a deeper understanding of when and why seasonal shifts occur, the guest and associate expectations throughout the year, the best performing room types, average length of stay, and other invaluable data.
MANAGE MULTIPLE BOOKING CHANNELS Guests want to book in the manner that’s most convenient to them. In many cases, they go through third-party booking websites rather than going directly through the hotel. Managing these booking channels can be overwhelming, and a lack of distribution damages a hotel’s revenue opportunities. Revenue management services can handle these channels for hotels and hospitality businesses.
AVOID MISSED REVENUE OPPORTUNITIES Missed revenue opportunities can result in major problems for a hotel’s bottom line. Our revenue management services keep an eye out for potential chances to increase revenue throughout the year.
IMPLEMENT EXPERTLY DESIGNED PRICING STRATEGIES Our pricing strategies are tried and tested over decades of experience with branded and independent hotels. In limited-service and full-service properties, we help our clients match the best room rates to maximize potential revenue and increase the bottom line. |
DEVELOP FORECASTS AND BUDGETS Our forecasts and budgets provide hotels with a future-forward view of their financial health and what they can expect to see over the coming weeks and months. This information is valuable for day-to-day operations, renovation projects, and other investments in the property.
PROVIDE MONTHLY PERFORMANCE REPORTS We equip our clients with monthly reports that show them how their hotel is doing, areas that they could improve, and other important information. These reports drive decision-making processes and help position the hotels for continued success. STREAMLINE TIME-CONSUMING REVENUE MANAGEMENT TASKS Some hotels don’t have the resources or systems available to decrease the time spent on time-consuming revenue management tasks. Our established systems maximize the productivity of the team and allow them to utilize their talents to the fullest. ACCESS DECADES OF HOTEL REVENUE MANAGEMENT EXPERTISE Hotel revenue management is as much an art as it is a science. Having access to a wide range of data offers an excellent basis for tracking growth and making predictions, but having the backing of decades of expertise allows us to apply the best practices that have worked across many established properties.
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Work With Prospera Hospitality
When partnering with Prospera Hospitality, our services are easily implemented into your everyday operations. Our team carefully develops a plan with clients to incorporate our strategies into your business without disturbing operations. Because Prospera has decades of experience in the hospitality industry, we understand hotels and their specific needs. Together with clear, regular communication, we’ll form a strong team headed for success.
2100 Georgetown Drive
Suite 401
Sewickley, PA 15143
412.921.6200
fax: 412.921.5158
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