Hospitality Revenue Management
Welcome to ThinkUp’s Hospitality Revenue Management, The Podcast.
Every week, we’ll spend about 20 minutes sharing practical and immediately applicable best practices, tips and tools. We’ll be suggesting ways to
- level up your revenue management efforts,
- move to profit optimization,
- focus on total revenue management,
- and work towards sales, marketing and revenue convergence in your own organizations.
Please come back often to check out our new topics. For any questions or further clarification, drop us an email and let’s chat.
Episode 32:
“All of the revenue management skills are translatable, but Vacation Rentals explode in the attributes that you need to forecast. Number of bedrooms could be a 11-12 bedroom cabin. Booking windows, type of clientele and the community are also factors in figuring out demand.”
Revenue Management From Both Sides Now
Welcome to Hospitality Highlights! In this 32nd episode of the ThinkUp Podcast, host Lily Mockerman talks with Scott Bunce, the Chief Operating Officer for Cabins For You, a vacation rental company that focuses primarily on cabins. There are 466 vacation rentals available now, from a one-bedroom vacation cabin all the way up to lodges that sleep up to close to 60 people.
The discussion centers around the disparity in technology and tools for the vacation rental industry, how Scott converts a booking on an OTA to a direct booking, how vacation rentals and hotels can become part of the overall distribution landscape, and ways that vacation rental companies can move towards this commercial strategy approach.
Episode 31:
“Do you want to get true new business? If the answer to that question is yes, then in fact, you can get new business from your meta search programs. “
Bringing In New Business and Driving Direct Bookings With Meta
Welcome to Hospitality Highlights! In this 31st episode of the ThinkUp Podcast, host Lily Mockerman talks with Dean Schmit, founder at Base Camp Meta and MetaSearchMarketing.com, where they provide help for staff suddenly responsible for running the property’s meta search program, and educational content for digital agencies. Dean’s specialty is running metasearch campaigns or helping to find the right vendor for your situation.
The discussion centers around how metasearch and revenue management are tied together, and how hoteliers can move forward with meta search without feeling like they have to add another fulltime person. Dean also lays out the simplest and most effective way to start getting involved in a meta search strategy, and the first three steps that hoteliers should take.
Episode 30:
“The difference between relationship selling and the proactive process is with the proactive approach, you’re reaching out to a customer before they probably even know they have a need. The type of questions that you need to ask that customer are a little bit different.”
Proactive Selling – What to Ask, When to Ask, and Why You Aren’t Getting a Response
Welcome to Hospitality Highlights! In this 30th episode of the ThinkUp Podcast, host Lily Mockerman talks with Amy Infante, CEO and founder of GitGo, which focuses on the Hospitality and travel industry. GitGo has products that help sales teams more easily convert business, email marketing campaigns designed for B2B marketing programs, and a new coaching programs just launched in 2020, designed for individuals or teams to relook at the way they’re doing things, with an eye to innovation.
The discussion centers around why the proactive process is so elusive to sellers, the two sides to collaboration, how to up level B2B marketing, and why companies aren’t getting responses from prospects when they reach out.
Episode 29:
“Our friends went up to Aspen the other week and booked an entire experience in one package. They loved that, and asked, “Why aren’t more doing this?” I think that’s certainly a way to build deeper relationships with those local partners in your destination and share in that experience to elevate and add value for guests.”
How to Align Revenue Management, Sales and Marketing to Impact Guests
Welcome to Hospitality Highlights! In this 29th episode of the ThinkUp Podcast, host Lily Mockerman talks with Eric Sutfin, CMO at Social Capital Agency, and Kathryn Baker, founding partner of ThinkUp Enterprises and Vice President of Strategy at Total Customized Revenue Management (TCRM).
The discussion centers around bridging gaps, alleviating question marks and concerns about guest stays, commercial strategy versus industry strategy, and tactics for making a difference through this recovery.
Episode 28:
“We really dug into this over 200,000-person database. Our goal was to uncover patterns in the guests’ purchasing and stay behavior. I started filling the buckets with patterns, similar purchase behaviors. Now, what did we do with that data? What did that tell us? On the marketing side of things, it generated specific strategies.”
A Scientific Creative Approach To An Integrated Commercial Strategy
Welcome to Hospitality Highlights! In this 28th episode of the ThinkUp Podcast, host Lily Mockerman talks with Jenny Poff, owner of Presque Isle Designs, a boutique marketing and advertising agency based out of Erie, Pennsylvania.
The discussion centers around Jenny’s 3 main approaches: a consultive and management approach; a scientific, creative approach; an intentional, data-driven approach. Listen to Jenny’s experience with a huge hospitality project and the results achieved.
Episode 27:
“I think no matter where you are, be it Yosemite National Park or Hermiston, Oregon, it doesn’t matter. There’s something unique and inherently cool about every place in the world. Really dive into that and build those relationships with the local community, then give guests that true local experience.”
Strategies to Deploy to Maximize Revenue and Guest Value Perception
Welcome to Hospitality Highlights! In this 27th episode of the ThinkUp Podcast, host Lily Mockerman talks with Vinny Cuneo of Autocamp, a unique alternative accommodation option. Their discussion includes what strategies to deploy to maximize revenue and guest value perception when pricing accommodations in remote locations with little to no direct competition.
Episode 26:
“There used to be an idea that more people want to write negative reviews than positive reviews. But more than 80% of guests will write reviews that are four or five stars.”
How to Create Magical Moments for Guests That They Will Treasure Forever
Welcome to Hospitality Highlights! In this 26th episode of the ThinkUp Podcast, host Lily Mockerman talks with Adele Gutman about how to inspire 5-star reviews and Antonio Pibia of Guest X Inside, who emphasizes how a guest’s brain works in relation to how they rate their customer journey.
Episode 25:
“What really started me down this road of money therapy was that I was existing wealthy, but internally, I was far from it.”
Helping Leaders Become Free, Healthy and Wealthy From the Inside Out
Welcome to Hospitality Highlights! In this 25th episode of the ThinkUp Podcast, host Lily Mockerman talks with Jennifer Love of the Living Wealthy Institute. Jennifer is a wealth philosopher, money therapist and the founder and CEO of The Living Wealthy Institute. She presents a model that world influencers and leaders use to deepen and reconfigure their complex relationships with worth, value, and money.
Episode 24:
“We want to really simplify things, get the business owners free from the weeds, and then start to take the company to the next level.”
Timeless Principles To Scale A Business That Hotels Can Use To Rebound
Welcome to Hospitality Highlights! In this 24th episode of the ThinkUp Podcast, host Lily Mockerman talks with Austin Netzley, Founder & CEO of 2X, about proven principles and strategies that help 6 and 7 figure business owners scale.
Episode 23:
“Step back, take that power, pause and really understand that no matter what you’re facing, there are always multiple solutions and multiple options, multiple choices for you to choose from.”
The Power of the Pause
In this 23rd episode of the ThinkUp Podcast, host Lily Mockerman reflects on 2020, what we have learned, and The Power of the Pause.
Episode 22:
“The technology was well established in Australia, working with large hotel companies over the course of 12 years. It was a great opportunity to bring it to the U.S. and introduce it to our U.S. customers.”
How Sales, Catering and Marketing Can Be Combined Into One Solution
In this 22nd episode of the ThinkUp Podcast, host Lily Mockerman talks with Amy Forss, Senior Vice President of Sales at iVvy. iVvy provides a full-encompassing sales, catering and marketing solution specifically designed for hoteliers.
Episode 21:
“I knew that there were many women who were interested in hotel ownership and development, so I came up with the idea, which included a hallmark event.”
She Has a Deal.
In this 21st episode of the ThinkUp Podcast, host Lily Mockerman talks with Tracy Prigmore, founder of TLT Solutions, a real estate investment and development firm. Tracy is the founder of She Has a Deal.
Her other guest today is Susan Barry, 25-year hotel business veteran, now helping hotel owners with commercial strategy at Hive Marketing. She is involved with She Has a Deal as Director of Communications.
They discuss the concepts of She Has a Deal and how they serve to expose young women to the idea that hotel ownership and development is an option.
Episode 20:
“I think the one thing that this pandemic has taught most of us is the culture doesn’t change; it just gets more crystallized.”
Culture and Wellness During COVID-19
Episode 20 of the ThinkUp Podcast features Priya Chandnani and Lily Mockerman discussing the effects of COVID-19 on the culture of Benchmark Resorts and Hotels. She has important insights on culture before the Hospitality industry was turned upside down and what we can learn from the challenges.
Episode 19:
“I wanted to do something to help a new generation of leaders.”
Developing People, Changing the Operation, and Making It Work Better
Antoine Berberi is Lily’s guest on episode 19 of the ThinkUp Podcast. Antoine as extensive experience in high-level hospitality positions, and now has created Cedar Hospitality Partners. He shares his unique perspectives on operations and how to train the staff to infuse the revenue culture in to all departments.
Episode 18:
“How we handle obstacles defines who we are as a company.”
Arbor Lodging’s Strategies for the Next 6-18 Months
In episode 18 of the ThinkUp Podcast, host Lily Mockerman talks with Sheenal Patel, CEO of Arbor Lodging Management. Sheenal discusses Arbor Lodging’s proprietary labor model, high-level goals, and one of his main priorities for upcoming months.
Episode 17:
“I’ve been through 4 major economic downturns.”
Advice From a 4X Recession Survivor Who Came Out on the Other Side
In episode 17 of the ThinkUp Podcast, host Lily Mockerman talks with Mike Marshall, President and CEO of Marshall Hotels. Mike has seen 4 recessions, and shares his insight on what has happened before, what’s normal during a downturn, and what to expect as we come out of the recession.
Episode 16:
Staffing Guidelines, Corporate Structure, Dedication
How Crescent Hotels Has Remained Resilient During Covid-19
Our 16th episode of the ThinkUp Podcast features host Lily Mockerman with two special guests: Dawn Gallagher, Chief Sales and Marketing Officer, and Raul Moronta, Senior Vice President of Revenue Strategy of Crescent Hotels and Resorts. They share the specific approaches that have sustained them through the COVID-19 pandemic.
Episode 15:
How Revenue Management Processes Should Change
Significant Shifts in Strategy Post COVID-19
In this 15th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Doll Rice, Vice President of Revenue Optimization at Prism Hotels and Resorts. Doll has unique perspectives on revenue optimization, and she shares the ways COVID-19 has changed the revenue space, takeaways from this downturn, and her insight on the changes that should be made post-COVID.
Episode 14:
Extended Stay FTW!
Insights from Sandpiper Hospitality
Episode 13:
LOGE focuses within the Pandemic
Views on Staffing, Infrastructure, and Responsibility
In this 13th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Ian McClendon, Regional Manager of LOGE Camps (pronounced “lodge”), a mixed-use property in the Pacific Northwest. Ian, with extensive experience in branded properties, has taken his talents to this successful lifestyle brand. He describes how going into the pandemic as a startup may have been a plus, and how LOGE will work to ensure a cost-effective infrastructure, while remaining nimble and agile, both financially and in staffing.
Episode 12:
Commercial Director Position
Successful Implementation
In this 12th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Cesar Rocha, Commercial Director at Performance Hospitality. Cesar, with extensive experience in Revenue Management, has recently been named to this new position, with the responsibility of overseeing sales, marketing, and revenue management teams. He describes how that came to be and what the transition has been like. Cesar brings people a new way of thinking and is using these proven techniques to change the paradigm.
Episode 11:
Profitability Metrics in Revenue Management
My Place’s Approach
Welcome to our new series, Hospitality Highlights! On this 11th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Bryan Gatzemeyer, Vice President of Business Intelligence at My Place Hotels. Bryan explains the unique perspective of My Place and how it changes the way they practice Revenue Management.
Episode 10:
Upselling During a Pandemic
How to Boost Revenue When Occupancy is at Its Lowest
On this 10th episode of the ThinkUp Podcast, host Lily Mockerman talks with special guest Clément Dénarié from Oaky, providers of a guest data platform built to develop richer, more personalized relationships with hotel guests. Clément serves as Head of Sales and discusses with Lily how to boost revenue when occupancy is at its lowest.
Episode 9:
Hospitality Industry Strong
Revinate’s Reopening Guide
Anisha Yadav, Senior Director of Customer Success at Revinate Hotel CRM & Email Marketing in North America, discusses the Revinate Reopening Guide with Lily Mockerman in episode 9. This newly-developed guide provides great tactical and strategic information for the current environment. Anisha also explains the strategic use of detailed metrics, marketing’s voice in the post-pandemic world, and her top 3 action items to implement right now.
Episode 8:
COVID-19 Traveler Sentiments
Takeaways from Fuel’s Traveler Sentiment Surveys
On this 8th episode of the ThinkUp Podcast, host Lily Mockerman and special guest Stuart Butler, COO of Fuel Travel, discuss the data that Fuel has gathered with their bi-weekly surveys, and how sentiments have evolved over the course of time. Stuart also provides meaningful advice on best practices for marketing based on the data, his prediction regarding future staffing challenges, and the 3 things hoteliers should be focused on right now as we work towards recovery.
Episode 7:
How to Use Revenue Management Historical Data
Effective Yet Agile Recovery Strategies
Today’s guest is Crystal Pernici, CRME, Director of Sales at IDeaS. Crystal has refined her experience at top hospitality companies, and also is experienced in hospitality technology. Lily and Crystal discuss Revenue Management, both in the current arena and post-COVID, and share ideas for using technology, data and revenue science to form effective yet agile recovery strategies.
Episode 6:
Branding and Values
How to Emotionally Connect with Your Customers
Today’s guest is Andrea Shillington, CEO and Business Soul Architect at Brands for the Heart. Andrea has extensive experience in the Hospitality industry in Dubai, Canada, and the U.S., helping properties define, articulate and implement their brands. Andrea offers advice on some crucial things hotels need to do right now as the industry begins to rise up from this COVID-19 pandemic.
Episode 5:
Sales, Marketing and Revenue Convergence
During and Post Coronavirus
Darlene Rondeau from Humphry Services, a consulting company in Dallas, and Amy Infante from GitGo Group discuss the most important things to achieve sales, marketing and revenue convergeance post COVID-19. These respected executives discuss ways to engage authentically, how hoteliers should assess the configuration of their team members as they return to work, and actionable steps for post-pandemic marketing plans, customer service and strategy.
Episode 4:
Lodging on the cusp of COVID-19
Hindsight is 20/20
In Episode 4, we chat with Christian Boerger, one of today’s great minds in Hospitality. Christian recently traveled with his wife to 20 countries on 5 continents, giving him a unique global perspective on lodging on the cusp of the coronavirus pandemic. Hear his thoughts and predictions.
Episode 3:
Finding Ways to Reduce Expenses
How to Perform a Comprehensive Audit
In Episode 3, Erin Green, founder and CEO of Verify Services, discusses ways to be sure your property is finding all possible reductions on services such as voice data, cellular, gas and electric services, especially during COVID-19. Don’t miss the top 3 tips for performing a comprehensive audit to save as much as 10% to 26% on utility expenses, an area commonly dismissed as a necessary expense.
Episode 2:
How to properly close your hotel
Important Steps and a Checklist to Follow
In Episode 1, we taught you how to make the financial decision whether to close your hotel on a temporary basis during COVID-19. If you followed the process outlined in that podcast and reached the conclusion that a temporary closure is financially advisable, today’s episode presents important steps and a checklist to follow.
Episode 1:
Global Health Crisis = Global Financial Crisis
To Close or Not to Close
The Hospitality Industry is in the middle of a global health crisis, and it’s creating a global financial crisis. While many hotels have already made their decisions regarding remaining open or closed, today’s episode is to help those that may still be struggling with their decision.
