A Yogini’s take on Hotel Revenue Optimization in a COVID19 World

  1. Yogini:a female master practitioner of yoga.

 

I see myself as a yogini, first, revenue optimist second. Having spent thousands of hours centering my mind, body and soul- my professional career within the revenue and consulting space has also benefitted immensely from the cognitive gains of daily yoga.

 

This New Shift on the World & on the Mat

 

With the COVID19’s negative impact on the world, taking a few minutes or even a few seconds to center yourself is the last thing on most people’s mind.  However, in yoga, we are taught that when going upside down, our perspective changes. In fact, when the head is below the heart, like in downward dog for example, blood-flow to the brain, heart and lungs is stimulated, changing the energetic flow in our bodies. Which, quite literally, changes the way we view the world. In return, we take that symbolic positioning into account, and utilize it throughout the moving meditation we call yoga.

 

…But Where Does Revenue Optimization Come into Play?

 

Believe it or not, this idea that, “when going upside down, our perspective must change”,  does actually relate to hotel revenue optimization. More so in the context of change, the most obvious example being this “new, uncomfortable normal” brought by COVID19. The hospitality industry will never be the same. Therefore, to maintain a well aligned strategy with the current state of the traveling world, our perspective, as revenue optimists, must change. But how?

 

Modifying Your Recovery Strategy

 

ASK THE BASE QUESTIONS

Here are a few ground questions to ask yourself as guests rethink the way they travel-

  1. What can we do to maximize the new opportunities?
  2. Do we release the attachment to our old ways and move forward in our new environment?

 

PERFORM A POSITIONING ANALYSIS TO YOUR CURRENT STRATEGY

Include these crucial questions to help redefine and reenergize your hotel revenue strategy-

  1. What are guests saying about our property?
  2. Who do your guests compare you with? Do you consider them competitors? Should you?
  3. What business is gone for the short term?
  4. What business is likely to never return?
  5. What new opportunities are presenting themselves?

 

MAKE THE FINAL CALLS 

  1. Define best opportunities to tap into for short term.
  2. Review and revitalize the overall strategy and long-term vision.
  3. Make any organizational changes required to adjust to the vision.

 

Now use that “upside down perspective change” to center yourself, take a full look at the new, extraordinary state of the world, and ultimately breathe new life into the hearts and minds of your hotel!

Namaste~