Revenue Management Consulting
What is Revenue Management? Revenue Optimization, as it is called at SSP, is an integrated revenue approach that evaluates the influences on your top line revenues and bottom line profitability. Proven strategies that utilize a holistic view of the business enterprise, effective processes, clear communication, and creative collaboration among revenue generating departments. The focus is on strategic planning, distribution, and cost efficiency, to yield growth for your portfolio, asset or brand.
At SSP, our approach to consultative support starts with you and your requirements. Our talent will partner with you to evaluate the needs, strategies, structure, and people. Our findings will prioritize the highest impact opportunities supported by a well thought out plan of recommendations. We approach each situation using a C.A.S.D.E. strategy: collect data, analyze data, strategize, deploy, evaluate, and adjust. Our goal is to work with you to drive sustained, strategic revenue growth across all disciplines.
Ensure your hotel has the proper positioning in the market – the key to meeting performance metrics. Our team will perform a 360-degree evaluation by studying your customers’ perceptions of your brand and executing an in-depth competitive landscape analysis, tying it back to correct metric expectations based on our findings.
OPTIMIZING REVENUE STREAMS
Identify revenue streams, prioritize opportunities, and ensure you are accurately forecasting, budgeting, managing, and reporting to maximize profit.
SALES, MARKETING AND REVENUE ALIGNMENT
Maximize ROI, increase production during need periods, drive desired performance and identify new customer segment opportunities by communicating and aligning the Revenue Optimization Strategy with the marketing plan.
Examine your team deployment strategy, refine roles and responsibilities, make sure your market segmentation plans are effectively deployed, and develop a structure that complements brand or management company’s resources to ensure you have the proper framework in place to reach your goals.
Audit current systems, set-up new or upgrade revenue management software, PMS, CRS, Central Management installs, and develop automation systems to ensure you have reliable data and optimal performance so your focus can remain on your strategic direction and revenue growth.
Develop communication procedures and processes to engage across all departments to create upsell opportunities, identify and recognize key customers, and ensure every team member is working towards a common goal.
REVENUE MANAGEMENT TRAINING
Set your team up for success by providing them with the coaching and mentoring tools they need to excel in optimizing revenues.
Assess your team to determine if the job description matches the actual needs of the role, if you have the right people deployed in the right roles, or if they simply need additional training. Creating a team that is motivated and is a good fit for the brand’s culture is paramount in reaching your goals.
RECRUITING AND RETENTION
Evaluate job performance expectations and metrics by position, compensation, succession planning, Individual Development Plans, and collective skill sets. Your organization needs to be built not only for today but more importantly, for the future.