FW: RevMax Meeting for 6/30

 

 

RevMax Meeting for   6/30   

        

Ira -Central Reservations

Review of weekly reports at RevMax.  Any updates to Denials and Regrets?  

 

We discussed how our new rate strategies are increasing our Denials. 

We have gone from 1 to 2 a day to 4 to 5.

We will keep watching this closely.

Forecast 

-July came in under LW by $9,000 and is under budget by $ 100,997.

We addressed restrictions in July just as we have for August when we are pacing to sell out.   

This forecast may be aggressive considering the slow down for the 4th of July holiday. We still need to pick up $320,094 for the month.

 

-August came  in under last week by $10,000. We are forecasting over budget by $ 33,882. 

The IRS group valued at $260,000 changed the forecast dramatically for August.

We are restricting the following for August -

• Friends and Family
• Comps
• Trades
• Employee rates
• Industry rates  

Our #1 goal in August is to increase our ADR by $10.00. Our current ADR forecast is $141.00 and we want to move this up to $151.00. By increasing our rate strategies our aim is to maintain forecasted revenues and lower our occupancy forecast by 5% from 92% to 87%.

-September came in under LW by $ 17,000 and is  forecasted under budget  by $76,659. 

 

GRC

 

June   

-   Decreased by $1,767 to last week.

-  We are now  looking at being $150,000 under budget.   

-   Attrition, Wash and rates are impacting our revenue pace.    

 

July

-  Decreased by $ 12,301 to last week 

- We are forecasting to come in under budget by $ 55,000  

- We are working with Mike on a meetings special e-blast campaign for July and have stepped up our outside weekly blitz campaigns to increase our lead potential.  

 

 

 August

-  Decreased by $14,757. We are forecasting to come in over budget by $ 125,000.

- This increase  over budget  is primarily from our IRS booking.  W e have increased our MAR rates in Daylight.    

 

September 

-  Increased by $10,253 from last week.

-  We arte forecasting to come in at budget

-  We have $375,207 in prospects. 

 

 

 

 LMD's   

 

Our Complimentary Suite Upgrade program ends on 6/30. We closed out our Suite Upgrades for the weekends . 

 

Going forward We need to discuss how we are going to start getting a higher rate for suites through NOR 1 , updating BAR   and Corporate Strategies . 

 

 We have updated our BAR Strategies to reflect a $20/$30 Spread..    

LMD on Monday 6/22. $129.00 Standard Suite for 6/26 & 6/28 to 7/5. We will also include a complimentary bottle of wine. 

 

 Promo Channels -  Expedia   Travelocity  Travel Zoo  Orbits     Priceline    Kayak   Google   Face Book      

We are beginning the process of Yield Management for our Promo Channels. We need to look every week at where our reservations are being made and decide when to limit them by either cutting them off or increasing the rate.  

We are working on converting our Wholesale bookings to Magnolia Website bookings.

We created a card for the front desk to hand out to all of our Wholesale bookings that says, " Book your next reservation with us and stay before 9/30/09 and receive a free bottle of wine or a Harry's $10 discount.

 

Weekly STAR 

Better week -

6/14 to 6/20

1st comp set - our RevPAR came in at a 104.7% Index, 9.3% growth.

Our RevPAR growth came from Occupancy at 120.9% Index, 18.8% growth.

Downtown Denver got hit hard this week in both ADR and Occ losses.

With our strong occupancy Index we are showing opportunities in ADR gains. Our new Revenue Strategies should help us with this potential growth.  

We are challenging ourselves to increase our ADR Index and move our ranking up by 2.

 

Hotelligence

 

 Future Hotelligence  

July  -    increased from  7 to  6 of 9 overall. Weekdays increased from  6 to 5 of 9 . Weekends  increased from 8 to 7 of 9. 

We need to watch July closely to understand why we are under performing.         

 We are now showing growth over the week of  7/6 to 7/9. This could be Oil companies coming in for the Colorado Oil and Gas Conference.   

 

 Upsell Program   Nor1   

-  Continue discussion on  the effect of the Suite Upgrade Program and Keeping Fireplace suites available for upgrades.  

Is now working just fine. We will pick up just over $1,000 for this program in the month of May. 

  

 Strategies  & Follow up        

• This forecast for July is looking aggressive considering the slow down for the 4th of July holiday. We still need to pick up $320,094 for the month.
• Our #1 goal in August is to increase our ADR by $10.00. Our current ADR forecast is $141.00 and we want to move this up to $151.00. By increasing our rate strategies. Our goal is to maintain forecasted revenues by increasing ADR by $10.00 and lower our occupancy forecast by 5% from 92% to 87%.
• Follow up on oversold suites from 8/21 to 8/27.  For the weekend (8/21 & 8/22) we are oversold on QQ's as well.  
• Evaluate the Mile High Festival. Our QQ's have been sold at a low promo rate. Do we need to have a different rate for QQ's on our Promo channels? 
• Evaluate Septembers GRC. WE have $375,207 in prospects. We have noted that 9/21 to 9/24 is a compression citywide period with Nat'l Courts - 1,445 peak and Nat'l Hospice - 850 peak.
• We created a card for the front desk to hand out to all of our Wholesale bookings that says, " Book your next reservation with us and stay before 9/30/09 and receive a free bottle of wine or a Harry's $10 discount. How is this going?
•  We need to watch July's Future Pace. July -   increased from  7 to  6 of 9 overall. Weekdays increased from  6 to 5 of 9 . Weekends  increased from 8 to 7 of 9.        

 

 

Rate changes     

 

Denver rate changes from 06-30 RevMax

 

07/06-07/08 lower rate to 189

07/08 release 2 Night Mimimum

07/12 increase rate to 169

07/13 lower rate one tier to 209

07/15 lower rate 2 tiers to 189

07/17 lower guest room rate 1 tier to 129

07/20 lower 1 tier to 169

07/21-07/22 lower 1 tier to 209

07/24-04/25 lower 1 tier to 149

08/17 raise 1 tier to 209

Denver 06-30-09
Date	Day	Tier	MLOS	Blackout	Event	GR	STE K	STE FP	GR net	STE net	STE FP net
23-Jun-09	Tue	4				179.00	219.00	229.00	134.25	164.25	171.75
24-Jun-09	Wed	7				259.00	299.00	319.00	194.25	224.25	239.25
25-Jun-09	Thu	7				259.00	299.00	319.00	194.25	224.25	239.25
26-Jun-09	Fri	1				109.00	129.00	139.00	81.75	96.75	104.25
27-Jun-09	Sat	2				129.00	149.00	159.00	96.75	111.75	119.25
28-Jun-09	Sun	3				149.00	169.00	179.00	111.75	126.75	134.25
29-Jun-09	Mon	3				149.00	169.00	179.00	111.75	126.75	134.25
30-Jun-09	Tue	3				149.00	169.00	179.00	111.75	126.75	134.25
01-Jul-09	Wed	3				149.00	169.00	179.00	111.75	126.75	134.25
02-Jul-09	Thu	1	10% off			109.00	129.00	139.00	81.75	96.75	104.25
03-Jul-09	Fri	1	10% off			109.00	129.00	139.00	81.75	96.75	104.25
04-Jul-09	Sat	1	10% off		4th of July	109.00	129.00	139.00	81.75	96.75	104.25
05-Jul-09	Sun	1	10% off			109.00	129.00	139.00	81.75	96.75	104.25
06-Jul-09	Mon	5				189.00	209.00	219.00	141.75	156.75	164.25
07-Jul-09	Tue	5				189.00	209.00	219.00	141.75	156.75	164.25
08-Jul-09	Wed	5	Rel 2NT			189.00	209.00	219.00	141.75	156.75	164.25
09-Jul-09	Thu	5				189.00	209.00	219.00	141.75	156.75	164.25
10-Jul-09	Fri	2				129.00	149.00	159.00	96.75	111.75	119.25
11-Jul-09	Sat	3			Christian Booksellers	149.00	169.00	179.00	111.75	126.75	134.25
12-Jul-09	Sun	4			Christian Booksellers	169.00	189.00	199.00	126.75	141.75	149.25
13-Jul-09	Mon	6			Christian Booksellers	209.00	229.00	239.00	156.75	171.75	179.25
14-Jul-09	Tue	7			Christian Booksellers	229.00	249.00	259.00	171.75	186.75	194.25
15-Jul-09	Wed	5			Christian Booksellers	189.00	209.00	219.00	141.75	156.75	164.25
16-Jul-09	Thu	5				189.00	209.00	219.00	141.75	156.75	164.25
17-Jul-09	Fri	8	Gr=2	No STE upgrades	MileHigh Music Fest	249.00	289.00	309.00	186.75	216.75	231.75
18-Jul-09	Sat	8	2NT - GR=3	No STE upgrades	MileHigh Music Fest	249.00	289.00	309.00	186.75	216.75	231.75
19-Jul-09	Sun	5				189.00	209.00	219.00	141.75	156.75	164.25
20-Jul-09	Mon	4				169.00	189.00	199.00	126.75	141.75	149.25
21-Jul-09	Tue	6				209.00	229.00	239.00	156.75	171.75	179.25
22-Jul-09	Wed	6			Travelwriting	209.00	229.00	239.00	156.75	171.75	179.25
23-Jul-09	Thu	5			Travelwriting	189.00	209.00	219.00	141.75	156.75	164.25
24-Jul-09	Fri	3			Travelwriting/Harley Dav	149.00	169.00	179.00	111.75	126.75	134.25
25-Jul-09	Sat	3			Harley Davidson	149.00	169.00	179.00	111.75	126.75	134.25
26-Jul-09	Sun	4			Harley Davidson	169.00	189.00	199.00	126.75	141.75	149.25
27-Jul-09	Mon	5			Harley Davidson	189.00	209.00	219.00	141.75	156.75	164.25
28-Jul-09	Tue	5				189.00	209.00	219.00	141.75	156.75	164.25
29-Jul-09	Wed	5				189.00	209.00	219.00	141.75	156.75	164.25
30-Jul-09	Thu	3				149.00	169.00	179.00	111.75	126.75	134.25
31-Jul-09	Fri	2				129.00	149.00	159.00	96.75	111.75	119.25
01-Aug-09	Sat	3				149.00	169.00	179.00	111.75	126.75	134.25
02-Aug-09	Sun	3				149.00	169.00	179.00	111.75	126.75	134.25
03-Aug-09	Mon	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
04-Aug-09	Tue	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
05-Aug-09	Wed	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
06-Aug-09	Thu	5		Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
07-Aug-09	Fri	5		Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
08-Aug-09	Sat	5		Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
09-Aug-09	Sun	5		Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
10-Aug-09	Mon	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
11-Aug-09	Tue	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
12-Aug-09	Wed	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
13-Aug-09	Thu	5		Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
14-Aug-09	Fri	4		Govt&Disc.	5 rms ext stay	169.00	189.00	199.00	126.75	141.75	149.25
15-Aug-09	Sat	4		Govt&Disc.	5 rms ext stay	169.00	189.00	199.00	126.75	141.75	149.25
16-Aug-09	Sun	3		Govt&Disc.	5 rms ext stay	149.00	169.00	179.00	111.75	126.75	134.25
17-Aug-09	Mon	6		Govt&Disc.	5 rms ext stay	209.00	229.00	239.00	156.75	171.75	179.25
18-Aug-09	Tue	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
19-Aug-09	Wed	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
20-Aug-09	Thu	7		Govt&Disc.	5 rms ext stay	229.00	249.00	259.00	171.75	186.75	194.25
21-Aug-09	Fri	5	3 NT	Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
22-Aug-09	Sat	5	2 NT	Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
23-Aug-09	Sun	3		Govt&Disc.	5 rms ext stay	149.00	169.00	179.00	111.75	126.75	134.25
24-Aug-09	Mon	4		Govt&Disc.	5 rms ext stay	169.00	189.00	199.00	126.75	141.75	149.25
25-Aug-09	Tue	5		Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
26-Aug-09	Wed	5		Govt&Disc.	5 rms ext stay	189.00	209.00	219.00	141.75	156.75	164.25
27-Aug-09	Thu	4		Govt&Disc.	5 rms ext stay	169.00	189.00	199.00	126.75	141.75	149.25
28-Aug-09	Fri	1				109.00	129.00	139.00	81.75	96.75	104.25
29-Aug-09	Sat	3				149.00	169.00	179.00	111.75	126.75	134.25
30-Aug-09	Sun	4				169.00	189.00	199.00	126.75	141.75	149.25

 

 

Mark Wellbrock
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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