January 18, 2018
What investors want to see from TripAdvisor in 2018
Here's a rundown of what investors will be looking for this year as TripAdvisor attempts to get its groove back.Read more
Many RFPs will look amazing and companies will promise you hundreds or more room nights at great patterns in order to secure the best possible last room available rate but you should not take their word for it.
Here are some steps you should take, questions you should ask, and data you should review prior to making a decision to bid on the business.
1. Has this account produced room nights at your property in the past? If so what nights of the week did they produce room nights on? Did they stay on nights when you were sold out? What was the difference in the rate they paid versus what you were selling as your best available rate? Is there group and meeting opportunities with this account?
2. After you have had a chance to review the data and answer the questions above to the best of your ability, it will be important to sit down with your sales, revenue management, and hotel leadership team to think about what the budget, goals, and sales strategy are going to look like for next year, and how bidding on and winning this business would help or hurt the property.
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