One of the toughest challenges revenue managers face is determining the demand in their areas and the right tools that can help them assess the market scene appropriately. But it doesn’t have to be that way anymore. There are many revenue managers who’ve been able to accurately measure the demand and also boost their ADR and revenue with our rate optimization tool – RevGain.
If you’ve ever wanted to get inside the head of a revenue manager, now’s your chance. Our RateGain editor sat down with Yiannis, the revenue manager at St. George Lycabettus Hotel, Greece. Below are some excerpts from our conversation:
Yiannis Kapoutsos: The main challenge I faced at every day work as a revenue manager at St. George Lycabettus Hotel was the determination of the demand in my area. Second the evaluation and understanding of the rates in our competitive set in order to adjust the selling rates of our hotel.
RateGain Editor: What improvements did you notice after implementing our solutions? If possible, can you please advise on the exact numeral benefits drawn by you? (stats or percentage would be preferable)
Yiannis Kapoutsos: An increase of the ADR was clearly reached through the use of RevGain, especially the month of February was extremely beneficial to our total revenue income. Following the recommendations of the tool, we were able to overcome the perception we had on a particular competitor in order to determine our rates.
Yiannis Kapoutsos: The solution is very clear and very deep in details. Every day statistics and evaluations were made very easy by following the insights Tab of RevGain.
Yiannis Kapoutsos: For our hotel was crucial a comprehensive tool to be easily understood and used. Of course, pricing was also a factor.