Ira -Central Reservations
Review of weekly reports at RevMax. Any updates to Denials and Regrets?
We d 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 $46,000 and is under budget by $147,536. We have been concerned about our pace dropping due to the 4th of July holiday. We still need to pick up another $211,289 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 $ 13,000. We are forecasting over budget by $21,317. The IRS group valued at $260,000 has created a very significant foundation for us. We are restricting the following for August - GRC
July
- Increased by $13,824 to last week
- We are forecasting to come in under budget by $60,000
- 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 by $717 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 $ 6,338 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
-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.
-Future Hotelligence shows that we are underperforming on 7/21 to 7/31.
-We also need to watch drops in performance over 8/2 to 8/13 and 9/11 to 9/14 on Hotelligence. Let's relook at our rate strategies over 9/20 to 9/23 we are at 300% to 200% over the CityWide Bone Mineral.
-Reevaluate the Mile High Music Festival - 7/17 to 7/18
- 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.
-Follow up on our discussion to make QQ's equivalent to a Standard One Bedroom suite BAR rate.
Rate changes
07/12 increase 2 tiers to 209
07/13 Increase 1 tier to 229
07/15 increase 1 tier to 209
07/17 lower guest room tier to 109
07/19 increase 1 tier to 209
07/21-07/23 increase 4 tiers to 299
07/24-07/25 increase 3 tiers to 209
07/26 increase 4 tiers to 249
07/27- 07/30 increase 3 tiers to 249
07/31 increase 1 tier to 149
08/02 increase 3 tiers to 209
08/09 increase 1 tier to 209
08/16 increase 3 tiers to 209
08/23 increase 2 tiers to 189
07/24-07/26 increase 2 tiers to 229
Denver 07-07 Date Day Tier MLOS Blackout Event GR STE K STE FP 30-Jun-09 Tue 3 149.00 169.00 179.00 01-Jul-09 Wed 3 149.00 169.00 179.00 02-Jul-09 Thu 1 10% off 109.00 129.00 139.00 03-Jul-09 Fri 1 10% off 109.00 129.00 139.00 04-Jul-09 Sat 1 10% off 4th of July 109.00 129.00 139.00 05-Jul-09 Sun 1 10% off 109.00 129.00 139.00 06-Jul-09 Mon 5 189.00 209.00 219.00 07-Jul-09 Tue 6 209.00 229.00 239.00 08-Jul-09 Wed 6 Rel 2NT 209.00 229.00 239.00 09-Jul-09 Thu 5 189.00 209.00 219.00 10-Jul-09 Fri 2 129.00 149.00 159.00 11-Jul-09 Sat 3 Christian Booksellers 149.00 169.00 179.00 12-Jul-09 Sun 6 Christian Booksellers 209.00 229.00 239.00 13-Jul-09 Mon 7 Christian Booksellers 229.00 249.00 259.00 14-Jul-09 Tue 7 Christian Booksellers 229.00 249.00 259.00 15-Jul-09 Wed 6 Christian Booksellers 209.00 229.00 239.00 16-Jul-09 Thu 5 189.00 209.00 219.00 17-Jul-09 Fri 8 Gr=1 No STE upgrades MileHigh Music Fest 249.00 289.00 309.00 18-Jul-09 Sat 8 2NT - GR=3 No STE upgrades MileHigh Music Fest 249.00 289.00 309.00 19-Jul-09 Sun 6 209.00 229.00 239.00 20-Jul-09 Mon 8 249.00 289.00 309.00 21-Jul-09 Tue 9 299.00 339.00 359.00 22-Jul-09 Wed 9 Travelwriting 299.00 339.00 359.00 23-Jul-09 Thu 9 Travelwriting 299.00 339.00 359.00 24-Jul-09 Fri 6 Travelwriting/Harley Dav 209.00 229.00 239.00 25-Jul-09 Sat 6 Harley Davidson 209.00 229.00 239.00 26-Jul-09 Sun 8 Harley Davidson 249.00 289.00 309.00 27-Jul-09 Mon 8 Harley Davidson 249.00 289.00 309.00 28-Jul-09 Tue 8 249.00 289.00 309.00 29-Jul-09 Wed 8 249.00 289.00 309.00 30-Jul-09 Thu 8 249.00 289.00 309.00 31-Jul-09 Fri 3 149.00 169.00 179.00 01-Aug-09 Sat 3 149.00 169.00 179.00 02-Aug-09 Sun 6 209.00 229.00 239.00 03-Aug-09 Mon 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 04-Aug-09 Tue 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 05-Aug-09 Wed 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 06-Aug-09 Thu 5 Govt&Disc. 5 rms ext stay 189.00 209.00 219.00 07-Aug-09 Fri 5 Govt&Disc. 5 rms ext stay 189.00 209.00 219.00 08-Aug-09 Sat 5 Govt&Disc. 5 rms ext stay 189.00 209.00 219.00 09-Aug-09 Sun 6 Govt&Disc. 5 rms ext stay 209.00 229.00 239.00 10-Aug-09 Mon 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 11-Aug-09 Tue 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 12-Aug-09 Wed 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 13-Aug-09 Thu 5 Govt&Disc. 5 rms ext stay 189.00 209.00 219.00 14-Aug-09 Fri 4 Govt&Disc. 5 rms ext stay 169.00 189.00 199.00 15-Aug-09 Sat 4 Govt&Disc. 5 rms ext stay 169.00 189.00 199.00 16-Aug-09 Sun 6 Govt&Disc. 5 rms ext stay 209.00 229.00 239.00 17-Aug-09 Mon 6 Govt&Disc. 5 rms ext stay 209.00 229.00 239.00 18-Aug-09 Tue 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 19-Aug-09 Wed 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 20-Aug-09 Thu 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 21-Aug-09 Fri 5 3 NT Govt&Disc. 5 rms ext stay 189.00 209.00 219.00 22-Aug-09 Sat 5 2 NT Govt&Disc. 5 rms ext stay 189.00 209.00 219.00 23-Aug-09 Sun 5 Govt&Disc. Share the Strength 189.00 209.00 219.00 24-Aug-09 Mon 7 Govt&Disc. Share the Strength 229.00 249.00 259.00 25-Aug-09 Tue 7 Govt&Disc. Share the Strength 229.00 249.00 259.00 26-Aug-09 Wed 7 Govt&Disc. 5 rms ext stay 229.00 249.00 259.00 27-Aug-09 Thu 4 Govt&Disc. 5 rms ext stay 169.00 189.00 199.00 28-Aug-09 Fri 1 109.00 129.00 139.00 29-Aug-09 Sat 3 149.00 169.00 179.00 30-Aug-09 Sun 4 169.00 189.00 199.00 31-Aug-09 Mon 5 189.00 209.00 219.00
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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