Hotel's Challenge
A branded, select service hotel in midtown Cincinnati opened in mid-December 2023 and needed to quickly establish its presence in the market. Alongside its dual-branded neighbor, the hotel spent the first quarter of 2024 “finding its footing”. The primary goal was to improve performance metrics and stand out in a competitive environment.
Solution
Director of Revenue Management Kaitlin Edwards, along with the General Manager and Director of Sales, implemented several strategic initiatives to drive revenue and market share.
- Proactive Event Management: The leadership team secured special-event dates for 2025–26 a year in advance. They also added Length of Stay (LOS) fences and created rate seasons in GRO.
- Strategic Pricing: The hotel implemented a deliberate “weekend-premium” Best Available Rate (BAR) hierarchy. They also closed discounts during periods of high compression.
- Cross-Property Collaboration: The team shifted some of their corporate accounts to its sister property.
- Continuous Communication: The team maintained an open communication loop with daily check-ins and quick strategy adjustments.
Results
The proactive strategies yielded rapid and positive results for the new hotel.
- RevPAR Index Surge: January alone delivered the bulk of a +17.1-point RevPAR Index surge. February held steady.
- Occupancy Gains: Even as April and May saw a softening in the market, last-minute government groups helped keep the hotel’s occupancy ahead of its competitive set.
- Morale and Reputation: The open communication and successful strategies boosted team morale and earned praise from the ownership. The hotel is now well-positioned to further increase its rates as its renovated product and guest service scores continue to gain positive recognition.
Drive More Hotel Revenue
Through Untapped Strategies
