Hospitality Revenue Management

Revenue Management – The Podcast Revenue Management From Both Sides Now Welcome to Hospitality Highlights! In this 32nd episode of the ThinkUp Podcast, host Lily Mockerman talks with Scott Bunce, the Chief Operating Officer for Cabins For You. We're a vacation rental company that focuses primarily on cabins, but we have 466 vacation rentals available now, from a one-bedroom vacation cabin, all the way up to lodges that sleep up to close to 60 people.  Highlights from this episode Lily: How do you approach Revenue Management differently from the way that you would approach it for a hotel? Scott: All of the revenue management skills are translatable. For instance, when I think of a hotel, I think of the charges for a view, being on the top floor, something on a club floor, which is all good. But here's the difference. Vacation Rentals kind of explode in the attributes that you need to forecast. Number of bedrooms? in my world, it could be a one-bedroom all the way up to a 11-12 bedroom cabin. Booking windows are vastly different. The type of clientele is vastly different. In addition, the community is also a factor in figuring out demand. Then there's the view - the mountain? A white river? A lake? The Gulf of Mexico, woods, a meadow? At least 80 of our cabins have pools that are either in or next to a cabin. Hot Tubs are another big demand generator, as well as video games. So all of these things just explode the different possibilities of managing, forecasting and predicting rates going forward. Lily and Scott go on to discuss: The disparity in technology and tools for the vacation rental industry Tools such as Rev Max and Key Data, specifically for vacation rental companies How Scott converts a booking on an OTA to a direct booking moving forward How vacation rentals and hotels become part of the overall distribution landscape Ways that vacation rental companies can move towards this commercial strategy approach Tips for alternative accommodation providers or those who bridge the gap to a traditional hotelier as it relates to distribution and revenue management TO REACH SCOTT WITH QUESTIONS OR FOR ASSISTANCE LinkedIn Cabins For You See cabins and deals on our Facebook page FINAL NOTES FROM THINKUP Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Bringing In New Business and Driving Direct Bookings With Meta Highlights from this episode Welcome to Hospitality Highlights! In this 31st episode of the ThinkUp Podcast, host Lily Mockerman talks with Dean Schmit, founder at Base Camp Meta and MetaSearchMarketing.com, where they provide help for staff suddenly responsible for running the property's metasearch program, and educational content for digital agencies. Dean's Revenue Management – The Podcast Lily: From my perspective, some hoteliers seem to think that working with a metasearch isn't about direct bookings. So that is essentially like working with another OTA and steering people away from direct bookings. Dean: It really IS about direct bookings, and that is one of the core benefits of a better search program. When we talk about metasearch, it means that I've searched for something and I'm getting multiple results for the same search. So within hospitality, we're talking about different booking options for that hotel. I can go to hotels.com, Expedia, brand.com, whatever the case would be, and aggregating it all into one place. So not only are we getting the direct booking, but we're getting the traffic coming directly from that site to our website. Lily and Dean go on to discuss: The fundamental shift in remarketing and display advertisingHow metasearch and revenue management are tied togetherHow hoteliers can move forward with metasearch without feeling like they have to add another full-time personThe simplest and most effective way to start getting involved in a metasearch strategyThe first three steps that people should take as they're diving into this worldTO REACH DEAN WITH QUESTIONS OR ASSISTANCEYou can visit Base Camp Meta, email Dean@basecampmeta.com, or contact him on LinkedIn. FINAL NOTES FROM THINKUPRead more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page.Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management-related topics, you can send them to us at info@thinkupenterprises.com.  specialty is running metasearch campaigns or helping to find the right vendor for your situation. 

Revenue Management – The Podcast Proactive Selling – What to Ask, When to Ask, and Why You Aren't Getting a Response Highlights from this episode Lily: I think many hotel sellers haven't readily had the opportunity to be fully trained in business development as opposed to just relationship selling. What is the GitGo perspective about that process of new business development for hotels? Amy: The difference between relationship selling and the proactive process is with the proactive approach, you're reaching out to a customer before they probably even know they have a need, and the type of questions that you need to ask that customer are a little bit different. We train our clients which questions to ask and when. That's how we approach the proactive process, and how we train sellers, how we train our own team, and how we build our tools around and resources around this so that this can enable sellers to be more efficient at it and more productive. Lily and Amy go on to discuss: Some reasons why the proactive process is so elusive to sellers How to use tech and marketing collaboration to enable sellers to be more effective The two sides to collaboration between marketing teams and sales How to up level types of B2B marketing and communications The best cadence and frequency for running great campaigns Why companies aren't getting responses from prospects when they reach out Amy's top 3 tips for sellers as they're hunting for new business during this delicate recovery period. TO REACH AMY WITH QUESTIONS OR ASSISTANCE You can visit www.GitGoGroup.com, email Amy@gitgogroup.com, or contact Amy on LinkedIn FINAL NOTES FROM THINKUP Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. Welcome to Hospitality Highlights! In this 30th episode of the ThinkUp Podcast, host Lily Mockerman talks with Amy Infante, CEO and founder of GitGo, which focuses on the Hospitality and travel industry, with product to help sales teams more easily convert business, email marketing campaigns designed for B2B marketing programs, and a new coaching programs just launched in 2020, designed for individuals or teams to relook at the way they're doing things with an eye to innovation 

Revenue Management – The Podcast How to Align Revenue Management, Sales and Marketing to Impact Guests Welcome to Hospitality Highlights! In this 29th episode of the ThinkUp Podcast, host Lily Mockerman talks with Eric Sutfin, CMO at Social Capital Agency (SoCap) and Kathryn Baker, founding partner of ThinkUp Enterprises and Vice President of Strategy at Total Customized Revenue Management (TCRM). ThinkUp Enterprises: SoCap: HIGHLIGHTS FROM THIS EPISODE Lily: How have you seen COVID-19 impacting hoteliers, and specifically, how are they now having to adjust to meet customer demands? Kathryn: Guests are now traveling more locally than they typically would. Hoteliers are trying to turn them into repeat customers and show them that this destination is worth coming back to. They can do that by really creating a unique local experience, focusing on all of the things that make that hotel, that area, that larger market special and unique. Eric: Our friends went up to Aspen the other week. They had booked the skiing, the hotel, and a spa/hot springs experience in one package. The property provided an enhanced and elevated experience for my friend, and he loved that. He said, “Why aren't more doing this?” I think that's certainly a way to build deeper relationships with those local partners in your destination and share in that experience to elevate and add value for guests. Lily, Kathryn and Eric go on to discuss: How you can bridge gaps for your guests and alleviate question marks and concerns about their stay at your property. How the alignment of sales, marketing and revenue management impact consumers. The difference in how to approach a commercial strategy versus an industry strategy. ThinkUp is a commercial strategy consulting firm. We focus on standing out by cutting to the chase. We're here to give hotels true actionable guidelines to make a difference in their revenue and in their profitability. We focus on assessments, looking at every piece of the hotel – everything that touches revenue, any expenses that are related to those revenues, and maximizing all of them to get our clients on a more profitable path. We believe in increasing the social capital, the guest experience, and ADR of various international resorts, boutique hotels and hospitality brands. We do that by provoking truthful and authentic messages that really revolutionize how people are engaging, exploring and connecting with the industry today. As an agency, our main focus is really to be conversion oriented. And so we optimize the guest experience across whatever channel they touch through the micro moments that build customer satisfaction, add brand value, drive sales, and enrich customer data for the hotels we represent. • Kathryn's and Eric's top 3 tips, tactics or tools that hoteliers can implement today that will make a difference through this recovery. FINAL NOTES FROM KATHRYN You can visit www.ThinkUpEnterprises.com. We'd love to have the opportunity to talk with any property that feels like they might have some potential that they're not quite tapping into. FINAL NOTES FROM ERIC To reach Social Capital Agency, you can visit www.SoCapAds.com. There we have a variety of great resources that we put out monthly for the hospitality industry, some really thought provoking and progressive ideas across the marketing sector for you to explore, to digest and to learn how you can implement them yourself. FINAL NOTES FROM THINKUP Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revenue Management – The Podcast Welcome to Hospitality Highlights! In this 28th episode of the ThinkUp Podcast, host Lily Mockerman talks with Jenny Poff, owner of Presque Isle Designs, a boutique marketing and advertising agency based out of Erie, Pennsylvania.  A Scientific Creative Approach To An Integrated Commercial Strategy Highlights from this episode Lily: You mentioned having to really dig through data in your work with hospitality. What kinds of data did you look at to help drive the business objectives, and how did the customer profile data impact marketing strategies? Jenny: We really dug into the data. I wanted to see what the average day was – their frequency rate, their booking window, where they were coming from, what kinds of people. We dove into this over 200,000-person database. Our goal was to uncover patterns in the guests' purchasing and stay behavior. The result was a customer profile dashboard which broke it into buckets. I started filling the buckets with patterns, similar purchase behaviors. Now, what did we do with that data? What did that tell us? In the marketing side of things, it generated specific strategies. Lily and Jenny go on to discuss: Jenny's different approaches: a consultive and management approach; a scientific, creative approach; an intentional, data-driven approach.The results achieved within the data-driven marketing approach.Other changes Jenny implemented to help the marketing program in her hospitality role.Jenny's top 3 tips for revenue managers and marketers alike to embrace an integrated strategy .For questions or to contact Jenny:JennyPoff.com LinkedInRead more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page.Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revenue Management – The Podcast Welcome to Hospitality Highlights! In this 27th episode of the ThinkUp Podcast, host Lily Mockerman talks with Vinny Cuneo of Autocamp, a unique alternative accommodation option.  Strategies to Deploy to Maximize Revenue and Guest Value Perception Highlights from this episode Lily: There have been certain advantages to experience driven lodging options, especially in the mindsets of travelers dealing with the restrictions of COVID. What opportunities do you think hotels have to capitalize on that or mimic some of the successes? Vinny: I think no matter where you are, be it Yosemite National Park or Hermiston, Oregon, it doesn't matter. There's something unique and inherently cool about every place in the world. Really dive into that and build those relationships with the local community, then give guests that true local experience. Lily and Vinny go on to discuss: Where glamping/alternative accommodations overlap with traditional hospitality and where it stands aloneHotel companies are quickly moving in the direction of commercial strategy. What does that look like forAutocamp?Threats that exist as more traditional hospitality companies try their hand at glamping/alternativeaccommodationsWhat strategies to deploy to maximize revenue and guest value perception when pricing accommodations inremote locations with little to no direct competitionFor questions or to contact Vinny: www.Autocamp.com Autocamp on Instagram Autocamp on LinkedInRead more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page.Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

How to Create Magical Moments for Guests That They Will Treasure Forever Highlights from This Episode Lily: I know in your work, you emphasize the memory, and how the brain works in relation to how customers rate their experience when traveling. Tell us a little bit more about your thoughts on that. Antonio: In a parachute jumping experience, it's not that we are writing about the experience at the moment we jump. We write about it when the jump is done, our memory of the experience. The experience that hotels and restaurants or any business in hospitality wants to deliver has to be good enough most of the time, but occasionally remarkable. And the higher the emotion intensity, the more likely a person is going to talk about your experience, whether good or bad. Lily: In the middle of this pandemic, keeping the staff's spirits' high can be especially challenging. How do you see this connecting back to review scores, and what can hoteliers do in the midst of a stressful situation to keep the team on track? Adele: If you're listening to what your team is saying, and you're listening to what your guest is saying via the reviews, emails that they send, or little comments that they make at the desk, if you're deeply listening, and you're all wired, looking for ways to improve, you're going to take off like a rocket ship. And your revenue will show the difference. Lily, Adele and Antonio go on to discuss: Best practice in responding to reviews that maybe aren't fair to the hotelier, and how to avoid having travelers write those reviews in the first place How communication will generate better encounters during the guest's experience How to develop a customer journey map specifically for the hospitality industry How to enable everyone on staff to be Hospitality Heroes Welcome to Hospitality Highlights! In this 26th episode of the ThinkUp Podcast, host Lily Mockerman talks with Adele Gutman about how to inspire 5-star reviews and Antonio Pibia of Guest X Inside, who emphasizes how a guest's brain works in relation to how they rate their customer journey. How limited-service hotels can deliver excellent service and earn 5-star reviews, even supplanting 5-star hotels How to get a positive review by properly resolving an issue For questions or to contact Antonio: www.GuestXInside.com Antonio on LinkedIn For questions or to contact Adele: www.AdeleGutman.com Adele on LinkedIn Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revenue Management – The Podcast Helping Leaders Become Free, Healthy and Wealthy From the Inside Out “What really started me down this road of money therapy was that I was existing wealthy, but internally, I was far from it.” Welcome to Hospitality Highlights! In this 25th episode of the ThinkUp Podcast, host Lily Mockerman talks with Jennifer Love of the Living Wealthy Institute. Jennifer is a wealth philosopher, money therapist and the founder + CEO of The Living Wealthy Institute. She presents a model that world influencers and leaders use to deepen and reconfigure their complex relationships with worth, value, and money. Highlights from This Episode Lily: that? Jennifer: One is fear. “How am I going to be evaluated? How am I going to be judged? How is someone going to see me?” I don't like to reference just money, because money is only one form of exchange. We also have a relationship exchange. Lily and Jennifer go on to discuss: In hospitality, we have what we call commercial strategy departments, incorporating sales, marketing and revenue management, which are really the main departments focused on generating money for the business in strategic ways. Could you give a few examples of what those money mindsets might look like or how those might manifest in a role like And so that fear begins to run the show in how we're making decisions, whether it's about our money, or how we're allocating things, or resources in our teams, right? 5 typical money mindsets the psychological impact of those mindsets on business leaders why it's important for business leaders, even those who may not be company founders or entrepreneurs, to work through their limiting beliefs about money the impact of COVID and some of the emotions that might be prevalent for both business leaders and those who are out of a job Jennifer's top 3 tips for business leaders, owners, or revenue managers who are driving money for a business going into 2021, where there's still a lot of uncertainty around the future of travel and when we will all be able to travel freely again. Resources to learn more about the Wealth Zone and Money Mindsets Jennifer's website Contact Jennifer on LinkedIn Living Wealthy Institute Want To Become A Millionaire? Ask Yourself These Four Questions Forbes Magazine Money Morphosis 3-Day Online Event – March 16-18, where your Wealth Zone & Freedom Flourish. Designed to help you increase your net worth and live truly wealthy. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revenue Management – The Podcast Timeless Principles To Scale A Business That Hotels Can Use To Rebound 2X founder & CEO Austin Netzley: Highlights from This Episode Lily and Austin explore the following questions and tips The ITA, or Ideal Target Audience The Irresistible Offer Rebounding from COVID “We want to really simplify things, get the business owners free from the weeds, and then start to take the company to the next level.” Welcome to Hospitality Highlights! In this 24th episode of the ThinkUp Podcast, host Lily Mockerman talks with Austin Netzley about proven principles and strategies that help 6 and 7 figure business owners scale. Lily: One of the things that many hoteliers have struggled with over the years has been defining their target market. You're looking to attract group business; you're looking to really provide a great corporate travel experience. You want to be that romantic getaway, and also family friendly. Austin: Most businesses go too broad. We're afraid to go narrow because we think that we're turning business away. But by going specific, we get much more clear on what we need to do from a marketing standpoint. Lily: As someone who has experienced hospitality as a traveler, have you ever seen a great irresistible offer used in travel or hospitality? Austin: Brian Chesky, the founder of Airbnb, wants the Airbnb hosts to think about and write down what a 10- star experience looks like. For an irresistible offer, think about what makes a 10 star experience. Then working backwards from there, detail how to go above and beyond to make the client's experience go through the roof. Lily: You have worked with businesses that have really taken a major hit from COVID. What business tactics have worked best for those businesses to rebound? Austin: Being real with the moment. Know your ITA in more detail. If you know them, then you know what news they're watching or what their concerns are in relation to cleanliness and other things. Then you can take those proper measures and beat them to the punch before they become concerned. Austin's advice for the future Businesses that are planning for the future are going to be the ones that get ahead. We've worked with a lot of people that have gotten hit, most have rebounded really nicely by doing exactly what we've talked about so far, which is updating and refocusing their business model, or doing different marketing initiatives and communicating in a very human manner. Just give value and connect with your audience. For questions or more information: Website: 2x.co The 7-Figure Playbook: 2X.co/7fpb FREE Audiobook: From 6 To 7 Figures: 2X.co/freeaudio Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revenue Management – The Podcast The Power of the Pause multiple options, multiple choices for you to choose from.” Welcome to Hospitality Highlights! In this 23rd episode of the ThinkUp Podcast, host Lily Mockerman reflects on 2020, what we have Some positive things which came out of this past difficult year, and how to honor what was good about 2020.How to release the negative to move on to the next chapter.How we are approaching our world – frantic, pulled into a negative flow?How to use the power of the pause in planning for your hotel. To wrap up, Lily talks about her personal method of inserting a pause in her daily schedule to help her make decisions from a place of being more centered, less reactive, and more proactive. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revenue Management – The Podcast How Sales, Catering and Marketing Can Be Combined Into One Solution Highlights from This Episode Lily Mockerman: Looking long term, like in the next two to three years, what do you think will develop into group trends? Amy: Lily and Amy go on to discuss: To wrap up, Amy gives her top three tips for group sellers going into 2021, regardless of which type of technology they're using. For questions or more information: Website: iVvy LinkedIn: Amy Forss Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. “The technology was well established in Australia, working with large hotel companies over the course of 12 years. It was a great opportunity to bring it to the U.S. and introduce it to our U.S. customers.” Welcome to Hospitality Highlights! In this 22nd episode of the ThinkUp Podcast, host Lily Mockerman talks with Amy Forss, Senior Vice President of Sales at iVvy. iVvy provides a full-encompassing sales, catering and marketing solution specifically designed for hoteliers. Hybrid meeting styles will be something that we'll always have to offer. Also, historical data tools that you might use can really kind of be thrown out when you're looking at cities and size. We'll need to look at other options and suggestions, then put them in front of the planner. They're looking for us to propose those things to them, and they will be for years to come. Then we'll need to look at how hotels can position themselves to avoid declines in revenue, and instead do more to sell value as opposed to dropping price or dropping concessions. How iVvy functions as a full encompassing sales, catering and marketing solution specifically designed for hoteliers.How the solution works from the lead coming in to the proposal, then turning the contract over to CES for detailing,sending out resumes and doing banquet checks, and finally sending out invoicing.How iVvy's online meeting space booking tool fits into the landscape after COVID.How giving up a little control will allow more time for hoteliers to work with larger groups. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

“I knew that there were many women who were interested in hotel ownership and development, so I came up with the Highlights from This Episode Lily Mockerman: Revenue Management – The Podcast She Has a Deal. idea to create She Has A Deal, which included a hallmark event.” Welcome to Hospitality Highlights! In this 21st episode of the ThinkUp Podcast, host Lily Mockerman talks with Tracy Prigmore, founder of TLT solutions, a real estate investment and development firm and founder of She Has a Deal. Her other guest today is Susan Barry, 25-year hotel business veteran, now helping hotel owners with commercial strategy, and involved with She Has a Deal as Director of Communications. I imagine there are some plans that changed a little bit for you this year. How did this season of pitches differ from what you were originally expecting for the program? Tracy and Susan: Lily, Tracy and Susan go on to discuss: When we started, the women's pitches were due on March 14. Then everything shut down about March 15. So their pitches were already submitted and planned for opportunities that did not involve COVID. They had to really think on their feet! So many of these women started out green, not knowing much of anything about hotel investment. But then they were pitching as if they were industry veterans. We had comments from judges who said they'd been in the industry a long time, and they worked with many owners, and had not heard polished presentations to that level. So it was pretty exciting. How the concepts of the program were developed, and how they would serve to expose young women to the idea that hotel ownership and development is an option. The nine-stage hotel investment roadmap. The goal of creating a community, a network of women who were going through that same journey, to collaborate, share ideas, share challenges, and help one another achieve their aspirations. Advice on investing in hospitality with all the talk of potential resurgence and the uncertainty around how hotels will perform in 2021. To wrap up, Tracy and Susan give their top three tips on what women who are interested in hotel ownership can do right now to prepare themselves with the skills that are required to be in a 2021 pitch competition. For questions or more information: Website: She Has a Deal. LinkedIn: Tracy Prigmore, Susan Barry Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. 

Revenue Management – The Podcast Culture and Wellness During COVID-19 “I think the one thing that this pandemic has taught most of us is the culture doesn't change, it just gets more crystallized.” Welcome to Hospitality Highlights! In this 20th episode of the ThinkUp Podcast, host Lily Mockerman talks with Priya Chandnani, who oversees the entire Revenue Management discipline at Benchmark Resorts and Hotels. Priya and Lily discuss how to focus on maintaining a healthy culture in the midst of the many stress factors and financial uncertainty resulting from COVID-19. Highlights from This Episode Lily Mockerman: How has Benchmark been able to support staff during times of personal stress? Priya Chandnani: One of the things we did was we reached out to the spa director at one of our hotels to request a session for the revenue team. We had a virtual session for the team where not only did she guide us through some breathing exercises, but also quick tricks and tips on how to manage quality of sleep and stress relief. Lily and Priya go on to discuss: • • • For questions or more information: Benchmark Resorts and Hotels LinkedIn: Priya Chandnani Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. How Benchmark handled communicating with the team regarding furloughs and callbacks How the tone of the culture affects weekends or family time How to leverage this unprecedented moment to improve our workplace culture For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revenue Management – The Podcast “I wanted to do something to help a new generation of leaders.” Developing people, changing the operation, and making it work better Highlights from This Episode Lily Mockerman: Antoine Berberi: Lily and Antoine go on to discuss: • • • • For questions or more information: Cedar Hospitality Partners LinkedIn: Antoine Berberi Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Welcome to Hospitality Highlights! In this 19th episode of the ThinkUp Podcast, host Lily Mockerman talks with Antoine Berberi, CEO and principal at Cedar Hospitality Partners. Antoine's hospitality career began with Hilton International Worldwide and moved to Senior Vice President of Proper Hospitality. Antoine then founded Cedar Hospitality Partners to implement his unique perspectives on all things hospitality. Revenue management obviously works closely with sales and marketing departments. In your opinion, what should that interaction look like? A daily business review must occur every single day for discussion of ADR occupancies, promotions, packages, forecasts, and daily pick up trends. The general manager should also be involved. The yield management meeting, again, should include everyone, including operations, to analyze and discuss any revenue opportunities in the hotel. You need to talk about the overall revenue and really involve the entire operation. How to fix departmental relationships which have been derailed by various personalities Correlation of online reputation and maximizing revenue management Training the staff to infuse the revenue culture into all departments The top things that the Front Office staff can do to assist the Revenue Manager in being successful 

Hospitality Highlights “How we handle obstacles defines who we are as a company.” Arbor Lodging's strategies for the next 6-18 months Welcome to Hospitality Highlights! In this 18th episode of the ThinkUp Podcast, host Lily Mockerman talks with Sheenal Patel, CEO of Arbor Lodging Management. Highlights from This Episode Lily Mockerman: Sheenal Patel: Lily and Sheenal go on to discuss: • • • Do you find that you've had to make adjustments to your culture to support your team through this? Or has it always been the core values that you've always had that have carried you forward through this difficult time for your employee teams? We've had to figure out how to retrain service at our properties when people have to talk to other people through masks or shields. You can't see people's facial expressions, which is so much of the way that we communicate with each other. How do we still provide that level of service and empathy that is needed to communicate with guests? Where we are right now is resetting expectations. Arbor Lodging's proprietary labor model The two new high-level goals for corporate to property level The importance of helping staff achieve the right mindset, a first step to achieving goals of profitability For questions or more information: Arbor Lodging Email Sheenal Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page.

Hospitality Highlights “I've been through 4 major economic downturns.” Advice from a 4X recession survivor who came out on the other side Highlights from This Episode Lily Mockerman: Would you say that there are any specific promotions or strategies that are allowing some of your hotels to fare better than others? Mike Marshall: Lily and Mike go on to discuss: • • • • Finally, Mike shares 3 pieces of advice, gleaned from his prior experiences, to help hoteliers be a bit more resilient through this crisis. For questions or more information: Marshall Hotels LinkedIn: Mike Marshall Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Welcome to Hospitality Highlights! In this 17th episode of the ThinkUp Podcast, host Lily Mockerman talks with Mike Marshall, President and CEO of Marshall Hotels. Mike has seen 4 recessions, and shares his insight on what has happened before, what's normal during a downturn, and what to expect as we come out of the recession. We've made it a real priority to try to keep as many hotels as we could open. We felt that by staying open and using social media to let people know, they'd remember that we were there. This spring in South Carolina, there were some really terrible storms that cut off electric for a number of days. Our hotel there filled up with just locals. We were a place to stay that had running water and electric. The role that ideation plays for Mike and his team Staffing strategies to get as lean as possible Structuring their portfolio to succeed over the next several months Restructuring use of space to host different kinds of meetings and events 

Hospitality Highlights Staffing Guidelines, Corporate Structure and Dedication How Crescent Hotels Has Remained Resilient During Covid-19 Highlights from This Episode Lily Mockerman: How would you say your portfolio has been faring through the impacts of Coronavirus? Dawn Gallagher: At the property level, as with most hotels, we had to move quickly to work with owners and come up with new staffing guidelines. From a corporate level, our CEO took the posture that we were not going to lay anybody off at the corporate office, because with reduced staffing at the hotel level, the hotels would need us more than ever, and it was really up to us to make sure that we provided the hotels with everything that they needed. : Lily, Raul and Dawn go on to discuss: • • • Finally, Dawn and Raul list some crucial focus points and details of implementation to allow more resiliency. For questions or more information on Crescent Hotels and Resorts LinkedIn: Raul Moronta Dawn Gallagher Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Welcome to Hospitality Highlights! In this 16th episode of the ThinkUp Podcast, host Lily Mockerman talks with two special guests: Dawn Gallagher, Chief Sales and Marketing Officer, and Raul Moronta, Senior Vice President of Revenue Strategy of Crescent Hotels and Resorts. They share the specific approaches that have sustained them through the COVID-19 pandemic. I think the great news about a company like Crescent is we can be quick, and we can be nimble. And we can make things happen in a day. You couple that with the strength in our digital teams to impact email marketing or impact any other campaigns or packaging that we needed across the board, and it really helped us move through this as well as possible. Raul Moronta On the revenue management side, we made a conscious decision to keep every revenue manager in place. In some cases, we had reduced hours and things like that, but we still felt that there was a need to provide insight to our owners with regards to visibility. In general, we wanted to make sure that every one of our hotels was actually operating, and that we had eyes on every one of our properties, because we knew that things are moving very fast, and that the trends were absolutely changing. So for us, being able to keep that structure in place was extremely important and clearly paid out for us. How to approach budget season, new methodologies, and multiple scenarios that may be effective Crescent's staffing plan, including how to ensure ROI on the revenue generation positions in place • Some key words within Crescent's culture and organization – flexibility, creativity, team structure, competitive mindset, opportunistic, interchangeable – and how the lens can be reset to what has to be done today Thoughts on base of business and speed to market 

Hospitality Highlights How Revenue Management Processes Should Change More details on Prism's new sales initiative Significant shifts in strategy post COVID-19 Welcome to Hospitality Highlights! In this 15th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Doll Rice, Vice President of Revenue Optimization at Prism Hotels and Resorts. Doll has unique perspectives on revenue optimization, and she shares the ways COVID-19 has changed the revenue space, takeaways from this downturn, and her insight on the changes that should be made post-COVID. Prior to COVID-19, you were working on some great initiatives around profitability by channel and total Revenue Management, and I got a little bit of a front row seat to some of that. Can you talk about where your focus has been and why those are important to Prism's future development? Doll Rice: Our role has changed so much over the last 15+ years, and I think it continues to change. We are becoming profit maximizers rather than topline maximizers. We have to be open-minded and look at our business through a different lens. Doll goes on to discuss: • • • • • • • Prism's article in Hotel Business Magazine: Introducing: Sales Office of the Future For questions or more information on Prism Hotels and Resorts: LinkedIn: Doll Rice Prism Hotels and Resorts Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Impacts of COVID-19 on Prism Hotels and Resorts What makes Prism successful in owner relationships Forward-thinking management focus Significant shifts in strategy since COVID-19 Dynamic pricing Main 3 takeaways from the pandemic Finally, Doll is on a bandwagon to take a step back and look at how we do our budgeting, marketing and business plans. Doll shares her vision of how Revenue Management processes could be more efficient with less people on property. Don't miss this unique perspective. 

Hospitality Highlights Extended Stay FTW! Insights from Sandpiper Hospitality Highlights from This Episode Lily Mockerman: Overall, how has your portfolio been faring through the impacts of coronavirus? Are you seeing any specific trends by location for : We had a mass exodus at the beginning of the pandemic, as most properties did, but overall, our portfolio is up 40% in June, and most of our furloughed staff has been called back. Additional topics • • • For questions or more information on Sandpiper Hospitality: www.SandpiperHospitality.com Email: vcruz@sandpiper.us.com Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Welcome to Hospitality Highlights! In this 14th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Victor Cruz, Vice President of Revenue Management at Sandpiper Hospitality. Victor has been in hotel management for over 20 years, and this has helped him grow into a focused professional with valuable insights into elements of success in Hospitality. your properties? Victor Cruz How pricing was handled and the results of the strategies How organizational strategies allowed maintaining a level of success What hoteliers could activate that could allow more resiliency through this crisis For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Hospitality Highlights How LOGE views staffing, infrastructure, and responsibility within the pandemic Highlights from This Episode Lily Mockerman: How have you chosen to handle staffing throughout this as an organization, particularly in the areas of sales, marketing, and revenue? Ian McClendon: We changed literally every piece of technology. We will be taking a soft approach to staffing. We're relying on short-term and trial contracts. We're investing in our core team, and we'll be taking an all-hands-on-deck approach until things stabilize. Additional topics: • • • • To wrap up, Ian explains 3 things that LOGE and other hoteliers can keep in the forefront as the Hospitality industry recovers. For questions or more information on anything LOGE: Ian Robert McClendon Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Welcome to Hospitality Highlights! In this 13th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Ian McClendon, Regional Manager of LOGE Camps (pronounced “lodge”), a mixed-use property in the Pacific Northwest. Ian, with extensive experience in branded properties, has taken his talents to this successful lifestyle brand. He describes how going into the pandemic as a startup may have been a plus, and how LOGE will work to ensure a cost-effective infrastructure, while remaining nimble and agile, both financially and in staffing. How the LOGE (Live Outside Go Explore) model operates The two pillars of LOGE How the LOGE portfolio has fared through the impacts of the coronavirus What it was about the way LOGE ran its organization prior to COVID-19 that helped them maintain a level of success LinkedIn: www.LOGEcamps.com Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Hospitality Highlights Implementing a Commercial Director Position Successfully Highlights from This Episode Lily Mockerman: Although it might not have been planned, you were telling me that you're now overseeing all the commercial departments of sales, marketing, and revenue. Can you tell our listeners a bit about how that came to be, and what the transition has been like? Cesar Rocha: I had been in Revenue Management for 2 years and was asked to assume this role because of the need to downsize. I'm a firm believer in promoting accountability through KPIs. Also, I'm encouraging a collaborative approach in our strategies, because more ideas help bring more success. Additional topics: • • • • • Cesar wraps up with the top 3 things that hotel companies or future commercial directors should do to prepare for success in this role. https://www.linkedin.com/in/cesaroc/ Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Welcome to our new series, Hospitality Highlights! On this 12th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Cesar Rocha, Commercial Director at Performance Hospitality. Cesar, with extensive experience in Revenue Management, has recently been named to this new position, with the responsibility of overseeing sales, marketing, and revenue management teams. He describes how that came to be and what the transition has been like. Cesar brings people a new way of thinking and is using these proven techniques to change the paradigm. How the portfolio has been faring through the impacts of coronavirus How the sales team performance is being measured in this challenging environment How Cesar's experience in other roles helps him lead The role time management is playing with a leaner staff How that might shift as team members return from furlough To contact Cesar Rocha: cesar.rocha@performancehm.com LinkedIn: Performance Hospitality Join us in our next episode to hear about LOGE Camps, a unique mixed-use concept. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Hospitality Highlight How My Place Uses Profitability Metrics in Revenue Management Highlights from This Episode Lily Mockerman: We've talked a little bit about how My Place takes a different approach to revenue management meetings. Can you talk a little bit about that? Bryan Gatzemeyer: The main questions we ask ourselves, our main focus of the company is does it provide guest value and does it provide owner value. All of our internal meetings and our strategy meetings are based on those foundational criteria. Additional topics: • • • • Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. Welcome to our new series, Hospitality Highlights! On this 11th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Bryan Gatzemeyer, Vice President of Business Intelligence at My Place Hotels. How to consider the bottom line rather than top line revenue How 3 revenue managers handle 55 hotels Wins their hotels are seeing in these difficult times The 3 main areas of focus Bryan would recommend right now My Place Hotels Trend by My Place To contact Bryan Gatzemeyer: bryan.gatzemeyer@myplacehotels.com Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Upselling: Still Possible During a Pandemic? Highlights from This Episode Lily Mockerman: Clément Dénarié: In general, guests are looking for creative experiences, upgrades in rooms, and enhancing their stay with auxiliary experiences. They are also treating themselves to add-ons, resulting in increase of spend. Other topics discussed: • • • • • Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. On this 10th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Clément Dénarié from Oaky, providers of a guest data platform built to develop richer, more personalized relationships with hotel guests. Clément serves as Head of Sales and discusses with Lily how to boost revenue when occupancy is at its lowest. So Oaky is focused on upselling, but in the current environment, many hotels are receiving limited demand or temporarily closed. However, I've heard that you have hotels seeing success on the platform in the midst of this. Can you tell our listeners more about what you're seeing with customers on the platform right now? How to welcome guests as they return post-COVID19 Specific details for revising upselling strategy and why hoteliers should pay attention to upselling right now Best-performing differentiators What top producers do that encourages more upselling Clément's top 3 things hoteliers can do to promote more upselling, whether or not they have a solution like Oaky To contact Clément Dénarié: www.Oaky.com Email: clement@oaky.com For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Revinate Reopening Guide On this 9th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Anisha Yadav from Revinate, providers of a guest data platform built to develop richer, more personalized relationships with hotel guests. Anisha serves as Senior Director of Customer Success in North America and discusses the Revinate Reopening Guide with Lily. Highlights from This Episode Lily Mockerman: Revinate has recently released a new guide on marketing strategy to support hoteliers in the recovery with some great tactical and strategic information. What prompted you to create this guide? Anisha Yadav: There seemed to be a void of information from the traveler's perspective, so we gathered and then simplified information from 10,000 travelers across the globe and offered actions to take. Other topics discussed: • • • • Revinate's Reopening Guide To contact Anisha Yadav: www.Revinate.com anisha@revinate.com Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. 3 phases to implement in messaging to your markets Marketing's voice in the post-pandemic world How to use detailed metrics strategically Anisha's top 3 action items to implement right now For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Takeaways from Traveler Sentiment Surveys On this 8th episode of the ThinkUp Podcast, host Lily Mockerman and special guest Stuart Butler, COO of Fuel Travel, discuss the Highlights from This Episode Lily Mockerman: Stuart Butler: Other topics discussed: • • • • • The three things hoteliers should be focused on right now as we work towards a recovery Don't miss Stuart's prediction regarding future staffing challenges! To contact Stuart Butler: fueltravel.com Fuel Travel Podcast Fuel Travel Blog Contact Stuart on LinkedIn Fuel's podcast with Lily: Episode 149 - 5 Amazing Revenue Management Tips to Think About During A Downturn Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. data that Fuel has gathered with their bi-weekly surveys, and how sentiments have evolved over the course of time. Stuart also provides meaningful advice on best practices for marketing based on the data, his prediction regarding future staffing challenges, and the 3 things hoteliers should be focused on right now as we work towards recovery. Fuel has recently been doing traveler sentiment surveys to support the hospitality industry which are pretty phenomenal. What prompted you to do these surveys, and what have been some of your biggest takeaways as the series has progressed? We're data nerds. We sent out the surveys every 2 weeks. We wanted to create awareness from the data and also to find creative ways to help our clients and others financially by implementing this data. It's been interesting to see how the sentiments have evolved. We wanted to make this available to everyone, not just our own clients. Some of the biggest takeaways as the series has progressed The main areas that hoteliers should see as action items for their reopening or ramp up strategies Types of hotels that the data shows that should stay closed for an extended period of time How Fuel is using this data to support the industry We'd love to have you join us next week for Episode 9 of the ThinkUp Podcast, when we'll talk with Anisha Yadav from Revinate about the Revinate Reopening Guide. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Historical Data: Still Relevant? Today's guest is Crystal Pernici, CRME, Director of Sales at IDeaS. Crystal has refined her experience at top hospitality companies including Loews Hotels, The Ritz-Carlton Hotel Company, Marriott International, and in the development of GreenPoint Hotels. Crystal shares the following: The relevance of Revenue Management in our current conditions, and why neglecting it right now may be a short-sighted perspective. How historical data can still be used in a meaningful way, both for short-term and long-term strategies. The pros and cons of using manual and automated systems. The top 3 things that hoteliers should do right now to have the most impact on recovery from COVID-19. To contact Crystal for questions or more guidance: IDeaS.com Crystal.Pernici@IDeaS.com LinkedIn: https://www.linkedin.com/in/crystalpernici/ Articles mentioned in the podcast The Importance of Revenue Management in Times of Uncertainty by Crystal Pernici Exceptional Circumstances Call for Exceptional Analytics by Stephen Hambleton Be sure to join us for our next episode with Stuart Butler of Fuel Travel to discuss their recent Customer Sentiment Study. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com. 

Branding, Values, and How to Emotionally Connect with Your Customers Today's guest is Andrea Shillington, CEO and Business Soul Architect at Brands for the Heart. Andrea has extensive experience in the Hospitality industry in Dubai, Canada, and the U.S., helping properties define, articulate and implement their brands. Andrea offers advice on some crucial things hotels need to do right now as the industry begins to rise up from this COVID-19 pandemic. Andrea shares the following: Why emotion is important in the hotel industry How to connect with guests who are fearful of travel, both now and post-COVID-19, and how to connect with those fears in a positive way Using values as a framework for making difficult decisions Transitioning your property from a “good” brand to a “great” brand How your hotel's brand will represent social or environmental causes in this “new normal” How to operationalize the key points in your brand to offer your guests the experience your hotel stands for To contact Andrea for questions or more guidance: Andrea Shillington, Brands for the Heart www.BrandsForTheHeart.com Be sure to join us for our next episode to discuss traveler sentiments around coronavirus and timely insights from Fuel Travel. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com.

Sales, Marketing and Revenue Convergence During and Post Coronavirus Darlene Rondeau, Senior VP at Humphrey Services, a consulting company in Dallas, has seen sales and marketing in the travel industry evolve from a pre-digital environment to today's setting. Humphrey Services provides sales, marketing and distribution guidance to a small exclusive group of travel companies, with an emphasis on hotel space. Amy Infante is CEO of GitGo, a full-service agency for the travel industry, with headquarters in Omaha, Nebraska. Celebrating 15 years in business, GitGo focuses on new business development in the B2B space. Whether working with the entire portfolio of a management company or individual hotels, GitGo provides guidance from qualification to close and everything in-between. Topics covered in this podcast include: ·      How sales, marketing and revenue work together, and what has changed since COVID-19 ·      A recommended approach to selling or marketing in the midst of the coronavirus pandemic and the sensitivity that surrounds it, and general advice about how people should engage ·      Best practices for social media in this time of social distancing and how to be authentic ·      Ways sales and marketing professionals can prioritize their time ·      What sales, marketing and revenue department relationships should look like post-COVID, and whether hoteliers should rethink the configuration of their teams ·      How things will change and how to approach marketing plans, customer service, strategy, and health and safety. ·      The 3 most important things to work on right now in sales, marketing and revenue   To contact our guests for questions or more guidance: Amy Infante, GitGo Group www.gitgogroup.com Email: amyi@gitgogroup.com LinkedIn: https://www.linkedin.com/in/amyinfante Darlene Rondeau, Humphrey Services Email: darlenerondeau@gmail.com LinkedIn: https://www.linkedin.com/in/darlenerondeau   Be sure to join us for our next episode to discuss branding for the heart and creating an emotional connection with guests. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com.

Hindsight is 20/20 In Episode 4, we chat with Christian Boerger, one of today's great minds in Hospitality. Christian recently traveled with his wife to 20 countries on 5 continents, giving him a unique global perspective on lodging on the cusp of the coronavirus pandemic. Previously Corporate Director of Revenue Strategy at Pacific Hospitality Group, Christian discusses his unique perspective on: ·      Positive ways hospitality companies are handling this pandemic and what he has seen that is disappointing ·      How hospitality companies will need to evolve to be better prepared for future crises ·      Worrisome reactions and how to avoid making emotional decisions ·      Changes in the ways people will travel and what they will consider important ·      How the practice of Revenue Management will be different after COVID-19 ·      What laid off or furloughed revenue management executives and teams should focus on during their downtime Be sure to join us for our next two episodes when we'll discuss Sales, Marketing and Revenue convergence as you look at your reopening, as well as expert branding tips to help ensure your guests feel like your connecting with them on an emotional level. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com.

How to reduce expenses during the coronavirus downturn In Episode 3, we discuss ways to be sure your property is finding all possible reductions on services such as voice data, cellular, gas and electric services, especially during COVID-19. Erin Green, founder and CEO of Verify Services, shares her expertise on: ·      Why companies should be looking at these types of expenses in the current environment ·      Where to look for expense reduction opportunities ·      Common areas of overspending and how to find them ·      Top 3 tips for performing a comprehensive audit ·      Supplies needed to complete a thorough audit Don't miss Erin's top 3 tips for finding savings opportunities, as much as 10% to 26% on utility expenses, an area commonly dismissed as a necessary expense. Over 75% of Erin's clients are affected by overspend in these areas. We hope this episode will add some opportunities for expense reduction and support as you look at these areas to discover available savings. For questions or more information, contact Erin Green at www.VerifyServices.net, 800-400-7180. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com.

In Episode 1, we taught you how to make the financial decision whether to close your hotel on a temporary basis during COVID-19. If you followed the process outlined in that podcast and reached the conclusion that a temporary closure is financially advisable, today's episode presents listeners with suggestions on: ·      access issues ·      how many places you need to “touch” ·      how to communicate comprehensively and with empathy ·      about OTAs ·      Google settings ·      Social media strategy Stephanie Spark Smith of Cogwheel Marketing and cayugaHospitality.com has created a hotel temporary closure checklist and suggests how to implement these steps. Kathryn Baker of ThinkUp Enterprises and kbb consulting shares her experience on actually assisting a hotel as they closed down operations. Don't miss both Stephanie's and Kathryn's top 3 steps for successful temporary closure and smooth reopening once travel returns. We hope this episode will add some confidence to your process of temporary closure, and support you as you forge this new path, and provide some light at the end of the tunnel. Download Stephanie's checklist here. Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com.

Hospitality Revenue Management – The Podcast To Close or Not to Close My Hotel: How to Do the Math The Hospitality Industry is in the middle of a global health crisis, and it's creating a global financial crisis. Hotel operators are struggling to decide whether to keep their hotels open or to close temporarily in the face of demand that is declining more rapidly than either post 9/11 or during the 2009 financial crisis - a decision not to be taken lightly. Learn more Read more articles on Hospitality Revenue Management on our ThinkUp Thought Leadership page. Join us live on the This Week in Hospitality Live Show, which you can register for at hospitalitydigitalmarketing.com/live. For questions on this episode or any other revenue management related topics, you can send them to us at info@thinkupenterprises.com.