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HSMAI Revenue Manager’s Luncheon

The Central Florida chapter of HSMAI organizes quarterly Luncheons for its members to meet and discuss the latest happenings in the field of revenue management over a hearty meal. On June 19, 2009 they hosted the Revenue Manager’s Luncheon at the Regal Sun Resort in Orlando.

The topic for the luncheon was “Market Conditions, Strategies, and New Technologies in Challenging times”.

Phil Stiles, Vice President of Sales, RateTiger, Daryl Cronk, Director of Research, Orlando/Orange County Conventions & Visitor’s Bureau and Debbie Morris, Founder and owner, Web Resource Management were invited for a panel discussion on the subject.

Phil describes his experience of the event, “The event was very productive as it allowed focused discussion on the ground realities of the hotel and travel market, specifically in Orlando. It was well attended and the presence of over 55 members, including Expedia and Travelocity signifies how relevant these sessions are to the industry.”

“HSMAI’s luncheon events are popular due to the fact that it allows meaningful networking with focused group of people and all involved benefit out of the process. RateTiger sponsored this event and I have to say it was worth it,’ concludes Phil.

RateTiger US Sales Manager Siobhain McArdle did a brief presentation on RateTiger products which was very well received by the attendees. Various queries came in after the event indicating how hoteliers are looking at technology more than ever to tide over the current scenario.

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BHA Annual Luncheon 2009

The famed BHA Annual Luncheon is getting bigger and better. This year’s gathering took place at Grosvenor House, London on June 24, 2009. The Mayor of London, Boris Johnson was invited as the guest of honor to share his views on tourism.

RateTiger’s Director of Sales Keith Povah and Sr. Sales Manager Sunaina Jagtiani attended the event with some prospective and current clients.

“The champagne reception provided great networking opportunities and an ideal platform for members to interact with some key industry people to understand their take on the current market scenario and get an insight on how they are mapping their road ahead,” said Keith Povah.

BHA Chief Executive Bob Cotton officially opened the event, attended by over 600 people, stressing the significant role that tourism and hospitality industry plays in the UK’s economy. He mentioned how the industry helps create jobs and brings revenue thereby assisting in the revival of the economy.

Before inviting Boris Johnson to address the audience, Bob stressed on the importance of the Government’s role in providing the right kind of environment and encouragement for the industry to operate successfully and grow.

Sunaina really enjoyed the Mayor’s speech and says, “Boris delivered a great speech focusing on current economic trends and its impact on tourism. He applauded the hospitality industry for the immense effort it has put in coping with the market and mentioned how despite the prevailing conditions, there are more hotels opening in London. He also touched upon the plans for 2012 London Olympics and urged greater investments in hospitality sector to ensure that London maximizes the benefits coming its way through this mega sporting event.”

Keith and Sunaina hosted some of the key hospitality members including Marketing magazine’s Travel & Tourism Specialist Alex Brownsell, Len Louis from Classic British, Paul Kay from Greene King Hotels, Stuart Bailey from Splendid Hotel Group, Ghislaine A. Oliver of Hotel Info Ltd., Colette Togus and Darren Kerr from Corus Hotels and Kieran Tobin from Destinations of the World (Europe) Ltd.

The audience represented a good mix of hotels, management companies and travel technology companies. The overall discussion was focused on the current economic trends, however hoteliers highlighted that the scenario was not as bad as they had expected.

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UK rates fall – the first time in four years

The first news to hit the wires on Monday continued to throw gloom into the financial markets with Hotels.com’s Hotel Price Index (HPI) revealing rates for rooms in the UK to have fallen for the first time since 2004.

The HPI indicates that in the final quarter of 2008 prices dropped 4% to an average of £97 per room per night compared to £101 a year earlier. The rates are representative of many major UK cities as hoteliers scramble to maximise occupancy over rates. However, properties in more remote regions, like Inverness in Scotland experienced a rate decline of 15%.

A new report from Pricewaterhouse Cooper (PwC) hospitality and leisure team claim that rates in London will decline as much as 23% in 2009. While on average it will drop by approximately 10% across the UK.

It is essential today that hoteliers focus on expanding their sales channels and market outreach. This will help to maximise opportunities and secures bookings in the short, mid and long-term. Since 1995, the internet has experienced a significant increase in bookings with travel websites gradually becoming the key source for consumer’s travel purchases.

Employing proper channel management technologies will enable hotels to identify appropriate selling rates through competitor benchmarking. Allocation mechanisms will then help to allocate inventory to the most successful and relevant channels to maximise occupancy. In a single year, total business via the internet for Thistle’s 56 hotels increased 130%:

“Basically, Rate Tiger gives the hotel an understanding of what the demand is and what is happening so we choose our rate wisely,” said Warren Mandelbaum, Area Revenue Manager, Thistle.

2009 is a year that requires exploring opportunities presented by online sales channels, focussing on price and offering to capture a share of the difficult market.

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Welcome to the RateTiger blog

Welcome to the RateTiger blog. As channel management specialist for the hospitality industry we provide tools for hoteliers to easily benchmark and distribute rates and inventory online. Going forward this blog will provide you with news, insights and industry activities to keep you informed of developments in our sector.

The RateTiger blog will be updated regularly with news items that will be of interest to hoteliers selling rooms across the internet; reviews of events from our representatives across the world; and an insight to the thoughts and feelings of key players in the channel management space.

The online channel management market is a new and exciting industry only coming into its own over the past few years with the rise of popular consumer travel booking engines like for example Expedia, Lastminute and bookings.com. In 2007 nearly half of all travel bookings in the US were made through online channels. The internet enables consumers to look for deals online rather than rely on traditional travel sources. Watching the trend, online distribution sites seem to have an even more significant impact on hotel bookings over the next few years.

Therefore, hoteliers selling rooms across multiple distribution websites are continuously increasing the number of channels they distribute inventory too. It seems more important than ever to ensure updates are accurate and management of these channels is not extremely time intensive.

With a weak economy channel management becomes even more a priority for hoteliers to help maximise rates and occupancy. This blog will help identify ways you can make the most of the market.