Social media and revenue management practices go hand in hand from a hotel expert perspective to maximize demand (i.e. room nights) and grow RevPAR (revenue-per-available-room). Here are two excerpts from the folks at STR which we think are worth reading along with the full articles: Social Media Presence Requires Work According to Dawn Ray, director of public relations for Hilton Garden Inn “If somebody posts on your page and you can’t reply because you don’t have time, it’s worse than not having a presence at all.” Every hotel plan should consider these panel recommendations. RevPAR Index Still Rules According to Klaus Kohlmayr, HotelNewsNow.com columnist “From a revenue management perspective, there are a number of key performance indicators which are critical. At the minimum and highest level, every hotel should at least look at RevPAR Index performance, which in many cases still is the best indication of how a hotel is performing against its competitive set. Although widely used in the industry, many revenue management professionals fall short by not drilling deep enough to fully understand what good (100 and more) or bad (below 100) signifies.” Read more from this hotel expert. Hospitality management professionals should also check out this blog on social media. It talks about the lack of expertise many a firm lacks and why you should address it. Does your revenue management program follow the STR index or a similar set of data to monitor RevPAR? What do you see from a hotel expert standpoint that should be improved in terms of the information and how it is presented? Please share your thoughts with our readers.
