Holmes Group is a leader in hotel revenue management. Coupled with our remote revenue management consulting services, we help independent hotels increase their financial performance. Holmes Group ability in yield management and specialize in revenue outsourcing had proven the practice to grow RevPar and GopPar for all hotels.
Our revenue management outsourcing team have an extensive experience in both the hospitality travel & tourism industry. Leaving no stone unturned to uncover the hidden revenue potential of your hotel, to increase your bottom line profit. We have strong business development background which aim to challenge the status quo and thereafter establish order.
Holmes’ yield experts will be incorporated in your hotel management structure and operate as a part of your team. Taking on the responsibilities and duties of revenue management and business development. Working besides your executive management, we will implement best practices, proven techniques and the latest travel distribution developments. We will help you outperform your competitors and become a leader in your local market.
We would be covering the areas and actions highlighted below when taking over a hotel, either as a turnaround project or new opening;
Holmes will study the main competitors of the hotel to assess their price positioning in relation to their products offering. Building a report comparing the strengths and weaknesses of the main competitors and the hotel. The report will aim at building the Price – Value relationship that the hotel can provide in front of its main competitors.
Holmes will benchmark and compare the pricing strategies of the main competitors and the hotel. The study will look at the public prices but will also try to pinpoint negotiated rates such as corporate rates. The study will look at a year period: day by day pricing by length of stay. The benchmarking will show how the hotel is priced competitively and create or revise the pricing grid.
Holmes will evaluate the distribution of the main competitors: GDS, IDSs and off line through mystery calls. The study will look at promotion management, length of stay pricing per channels. The study will also look at the distribution management of the hotel, inventory availability management, rates availability management in periods of low to high demand. The benchmark study will look at the competitive strengths and weaknesses of the hotel and present an action plan, with a primary focus to contract the right new distribution channels.
Upon the benchmarking studies, Holmes will review the existing pricing grid or build a new one and recommend pricing strategies to stimulate the demand. Both public prices and negotiated rates with multiple length of stay will be assessed and recommended. Pricing will be recommended per period of demand: low to high periods. Negotiated corporate rates will be reviewed in relation to the production and corporate accounts with sales’ team input.
Holmes will review the demand calendar, or create one, and analyze strength of demand day by day per period (with or without events), in view of day by day rate strategies.
Holmes will build market segmentation for the hotel and create a forecasting model to ensure that existing demand for each individual segment will be targeted most effectively in terms of marketing, sales and pricing strategies.
Holmes will develop monthly rate strategy sheets with the following objectives:
Holmes will review or build the rate loading and the rate management through all electronic distribution channels to ensure that all prices including corporate rates are correctly shown and bookable. Two meetings are planned before the start of implementation:
With our revenue team, we manage a diverse international portfolio of top performing hotel companies, ranging from independent boutique hotels, luxury design hotels, innovative hotel concepts, apartment-hotels, vacation rental properties, tourist apartment blocks, regional hotel firms, small rural hotels and modern budget hotels.