Our Approach

Revenue management as a business process.

First and foremost, we consider hotel revenue management to be a distinct and highly structured business process. To that end, we created a proprietary business mapping process (REVRoadMap®) to help clients navigate their way through the tactical and strategic steps in optimizing revenue and profit.

Developed over the past 25 years, our unique methodology is designed to enable hotels to stay ahead of the fast-paced, evolving nature of hotel revenue management. Comprised of 6 key components, the process is specifically designed to follow a logical business cycle that, when repeated, facilitates a comprehensive application of hotel yield management concepts and principles in every aspect of revenue generation. Our REVRoadMap® utilizes this business approach and incorporates industry best practices to optimize market potential.

In today’s world of revenue management, there is chronic disconnect between demand creation, demand capture, and demand management, largely because of the manner in which consumer buying behavior is evolving and the extraordinary impact of the Internet. Without a fundamentally holistic approach to revenue management, hotels are unable to optimize demand.  This is why, at Buckhiester Management, we pay equal attention to all segments of business and deploy a truly collaborative synergistic approach to the relationship between marketing, sales, and revenue management. This includes a carefully blended emphasis on the customer, the competition, the market, and the electronic playing field, including digital marketing and social media. Converging these disciplines is key, and it takes the skillsets of both a consultant and a trainer to do it well.

The consultant in us brings…

  • An understanding of the three primary pillars (or building blocks) of organizational change: culture, team, and skills.
  • Building the culture of revenue management within an organization.
  • Developing an integrated decision-making forum to overcome traditional departmental barriers to revenue and profit optimization.
  • Developing both strategic and tactical skills in a “Total Revenue Management” environment.
  • An appreciation for the different perspectives of owners, management companies, and brands.
  • The ability to comprehensively assess any revenue management effort, no matter the environment, against industry best practices.
  • A comprehensive and dynamic business process approach to adapting revenue management to your organization. This proven methodology combines a highly structured process to evaluate your organizational needs.
  • Ability to follow through on recommendations with by offering workshops, decision support tools, and coaching sessions to enable your hotel to develop revenue management as a sustainable core competency. Our gap analysis process is REVRoadMap®. Our product is REVolution®. Think of REVRoadMap® as your “GPS” and REVolution® as your vehicle.
  • The ability to keep pace with the rapidly evolving discipline of hospitality revenue management.


REVRoadMap® – 6 steps to effective
hotel revenue management.

 

STEP 1:

Product Alignment—leveraging product availability against customer demand and optimizing room product attributes.

STEP 2:

Competitive Benchmarking —optimal positioning within the competitive marketplace from two perspectives: the competition and the customer.

STEP 3:

Strategic Pricing—optimizing price for all demand conditions.

STEP 4:

Demand Forecasting—establishing a forecasting regimen, using three distinct forecasting methodologies.

STEP 5:

Business Mix Manipulation—finding the most profitable mix of business for the hotel asset.

STEP 6:

Distribution Management—maximizing all available distribution sources and leveraging information from digital marketing and web analytics.

By simplifying the complex concept of revenue management, REVRoadMap® helps you:

  • Establish core competencies, which are vital to success in today’s markets.
  • Relieve financial pressures with immediate improvement in performance.
  • Realize your hotel’s potential and meet and exceed the standards set by the world’s largest and most successful hotels.

Get in touch with us, we’re easy to reach.

We are here to help your organization take a best-practices approach to hotel revenue and yield.

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