Dynamic RM is a flexible revenue management option allowing hotels to select from a variety of services determined by their individual needs. While some hotels require all revenue management components, others have onsite talent and require assistance only in specific areas. Dynamic RM’s role is determined by the hotel.
Services available from Dynamic RM include the following.
Full Revenue Management Services Package:
- Preparation for and facilitation of weekly strategy meetings
- Daily monitoring and adjusting of inventory management and pricing
- Sourcing and evaluation of online travel agency marketing opportunities
- Monthly financial forecast and twelve month rolling demand and financial forecasts
- Annual budget and business plan participation, including market share forecasting
- Business evaluation for group, wholesale, airline, and special corporate accounts
- Revenue management training at the property to enhance the culture of revenue generation and increase overall understanding
- Ad hoc reporting and meeting attendance as required by ownership or management company
- Attendance online or via phone at sales and operations meetings
- Function space and catering management, including analysis and monitoring of Revenue per Available Square Foot (RevPAS) and Revenue per Occupied Square Foot (RevPOS), establishment and maintenance of free sell calendars and F&B minimums
- Group strategy, including recommended contract clauses, group pricing, group patterns, concessions calculator, and rooms to space ratios.
- Report development and consolidation
Hotel Revenue Management Audits:
- Review of hotel’s current market share and identification of specific opportunities within existing market
- Review of forecasting, analysis, strategy development, and inventory and pricing processes
- Development of a twelve month rolling demand forecast
- Introduction of tools to complement the hotel’s existing analysis tools
- Identification of optimal market mix and recommended distribution channel management to support
- Review of function space management and catering guidelines
- Observations and recommendations of revenue management talent in place
- Recommendations of third party suppliers available to assist specific areas of opportunity
Myers-Briggs Type Indicator® Workshops
- Administration of the Myers-Briggs Type Indicator® Instrument
- Step I and Step II workshop facilitation
