Group Escalated Target Rates Enhance e.FLEX Group RM
MaximRMS announces today that a new advanced capability is available to help hotels, resorts and casinos better revenue manage their group customers. The new capability takes a multi-year history of group data and gives revenue managers a benchmark for setting the group target rates. This new capability significantly increases the revenue growth potential for a hotel.
Common practice of hotels in the past to simply auto-escalate the base rates may help the revenue manager provide a starting point for group rates, but does not necessarily position hotels for effective rate growth. Strategic and tactical factors that enter into the group rate negotiation may further obscure visibility to the growth posture.
Group Escalated Actual Rate (GEAR), provides the data analysis and computational approach that delivers a recommended group target rate. GEAR uses multiple years of daily pricing outcomes for each hotel and provides a weighted projection for as many years into the future as the hotel will accept group bookings.
GEAR reports utilize color-coding and background shading to help the user quickly scan for exceptions and areas to focus attention.
“GEAR provides a significant improvement in setting group target rates,” states the Vice President of Revenue Management, “And further enhances the exceptional capabilities for Group Revenue Management featured in the e.FLEX Revenue Management System. Using GEAR, hotels can drive significantly greater revenue growth than before.”
This enhanced capability gives revenue managers more visibility into their growth posture, a reference point to assist in setting their target rate through their current rate management tools, and greater abilities to grow the revenues of their property.