Transitioning from Revenue Management to Revenue Strategy

PTG Consulting assigned its European-based revenue strategist to provide support for the hotel with the first action item being an onsite visit with the team, complete with site tours of Bristol Hotel Berlin and its competitive set. The first priority included a review of the hotel's revenue-related systems to ensure everything was set up for optimal management. Using PTG Consulting's team of experts, a complete system audit was conducted and the findings were presented to the hotel team. After review and receipt of approval from the general manager, the consulting team executed the changes needed. The revenue strategist focused on identifying all existing distribution partners and channels in place and worked quickly to identify and expand to new partners and enhance relationships and opportunities with existing partners. The next step was creating new packages and promotional offers that were complemented by digital marketing efforts to help capture the consumers searches. PTG Consulting completed a thorough review of the hotel's daily pricing strategies and made adjustments where needed.

• By February 2021, positive results included:
• The hotel occupancy ranking compared to the competive set increased from 4 of 6 to 2 of 6
• The hotel increased its ADR Index from 101.4 to 110.3
• Hotel RevPAR ranking moved from 4 of 6 to 2 of 6
• Hotel RevPAR Index increased from 94.2 to 132.4 or +41% over the competitive set