RevMax - 9/30
The weekly STAR is looking a little better than last week.
Our ADR was up in both comp sets by 7.4% and 3.9% growth. However, occupancy remained down in both comp sets by -2.9% and -7.0%.
Our evaluations from yesterday's RevMax meeting are pointing towards less demand in September and October than anticipated.
We are now getting market segmentation updates on our weekly STAR and for the week of 9/21 group is up significantly in both comp sets and transient is down in both comp sets.
With the sensitivity to occupancy levels we have addressed keeping all transient channels open. Our corporate campaign is in full swing and we are reeducating the community on all of our many competitive advantages. This is proofing to be very beneficial especially in group corporate catering contribution.
Hoteliigence for August puts us at a 96.4% Index with a market penetration growth of -0.4% growth. We are at a 3 out of 8 ranking for the month. This is a good placement for August considering the Black Out dates for Fire Chiefs and the DNC. YTD we are at a 83% Index which is a significant accomplishment when you consider that we were down in Index by 30% to 40% during the renovation.
We are asking everyone to be sensitive to trends for the rest of the year and we are challenging all departments on the next step on "WoWing" the guest and looking for ways to increase occupancy while maintaining our ADR growth.
- Continue discussing Bronco schedule -Broncos schedule was implemented in Hotel Concepts- John is still working on a Pace report that will come through EZRMS. 90% of report is completed...Working on a small snag to complete.
- Continue discussion of best practices for Hotel Concepts as it pertains to RevMax Meetings
- Review what Hotels are selected for RateView and update as needed.
Set LMD for 10/3 at $99.00 Suite Rate
Look at 10/17 next week for the next LMD
RATE ADJUSTMENTS:
Increase rates on to $159 on 10/17 & 10/18
Increase rates to $259 on 10/19 ,10/20, 10/21 & 10/22
Increase rates to $289 on 11/10 & 11/11
Increase rates to $229 on 11/13
Mark Wellbrock
Regional Director of Sales
The Magnolia Hotel
818 17th Street Denver, Colorado 80202
Direct: (303) 607-0200 Fax: (303) 607-0600
Magnolia Hotels Web Site
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