Ira -Central Reservations
Review of weekly reports at RevMax. Any updates to Denials and Regrets?
We are staying sensitive to the fact that 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.
-July came in under LW by $12,000 and is under budget by $1 59,985. We have been concerned about our pace dropping due to the 4th of July holiday. We still need to pick up another $ 144,861 in the month. We are expecting to have this come from both room nights and ADR. We addressed restrictions in July just as we have for August when we are pacing to sell out. -August came in under last week by $ 1,000. We are forecasting over budget by $2 0,810. The IRS group valued at $260,000 has created a very significant foundation for us. We are restricting the following for August - GRC
July
- Decreased by $7,702 to last week
- We are forecasting to come in under budget by $ 95,000
- 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
- Increased decreased by $ 12,118 to last week. We are forecasting to come in over budget by $125,000.
- This increase over budget is primarily from our IRS booking. We have increased our MAR rates in Daylight and have a strategy in place to maximize group rates.
September
- Increased by $ 57,110 from last week.
- We are forecasting to come in at budget
- We have $381,490 in prospects.
LMD's
Our Complimentary Suite Upgrade program ends on 6/30. We closed out our Suite Upgrades for the weekends .
Promo Channels - Expedia Travelocity Travel Zoo Orbits Priceline Kayak Google Face Book
We are adopting a new Yield Management philosophy for our Promo Channels. We are looking at where our reservations are being made and decide when to limit this channel 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.
We are testing 7/20 to 8/2 on a 25% discount on all channels. We have increased our BAR strategies to compensate for this program and keep our ADR in line with our growth strategies.
Weekly STAR
6/21 to 6/27
1st comp set - our RevPAR came in at a 104. 4% Index, -0.8% growth.
Our RevPAR growth came from Occupancy at 12 4.6% Index, 1 5.3% 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.
Future Hotelligence
July - increased from 5 to 4 of 9 overall. Weekdays stayed flat at 4 of 9. Weekends stayed flat at 7 of 9.
We are vulnerable on 7/21 to 7/31.
August - stayed flat at 5 of 9 overall. Weekdays stayed flat at 4 of 9. Weekends dropped from 7 to 8.
We are vulnerable on 8/2 to 8/13.
September - stayed flat at 4 of 9 overall. Weekdays dropped from 4 to 5. Weekends dropped from 4 to 5.
We are vulnerable on 9/11 to 9/14. We are at 300% to 200% over the CityWide Bone Mineral 9/20 to 9/23.
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
- Follow up on 20% off discount for 7/20 to 8/1. Discount on all channels. We have increased our BAR strategies to compensate for this program and keep our ADR in line with our growth strategies.
-Future Hotelligence shows that we are underperforming on 7/21 to 7/31.
-Look into potential LOS restrictions for August.
- 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.
07/18 lower suite tier for Saturday during Mile High Music Festival to tier 5
07/24-07/26 lower rate to 189
08/03-08/27 open government rates but placed 4 & 5 night restrictions for gov during this period
Director of Sales
The Magnolia Hotel
818 17th Street Denver, Colorado 80202
Direct: (303) 607-0200 Fax: (303) 607-0600
Magnolia Hotels Web Site
Complete an On-Line Request for Proposal
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