Right Revenue helped save 15 hours per week, whilst dynamic pricing on each room type boosts revenue
Town Hall Hotel and 196 Bishopsgate operate in the vibrant and competitive London hotel market.
The properties are linked by a common owner, but they each have a distinct identity and operating model.
Balancing the dynamics of pricing across these distinct locations, amidst a competitive landscape, presented a formidable challenge for the team.
In 2023 the beautiful Town Hall Hotel was repositioned adding an extra challenge as the team worked to adapt the pricing strategy in line with the repositioning project.
Challenges
The hotel encountered several key challenges when it came to revenue and pricing. Limited access to relevant data hindered decision-making, whilst juggling pricing decisions for two different properties added complexity. Large amounts of manual work was required to extract reports, create forecasts and make pricing changes.
The team felt they were ‘firefighting’ and found it difficult to focus on strategic priorities such as the repositioning of the Town Hall.
Solution
The installation of Right Revenue was transformative. The integration with Opera meant that the team instantly had access to historical data in a format which was useful for revenue related decisions.
The flexibility of the system meant that it could be easily configured to suit the unique characteristics of each property, despite their differences in business models and the markets in which they operated. Furthermore, implementing Right Revenues dynamic open pricing model meant that the hotels could effectively price each room type according to demand patterns to maximise revenue opportunity.
Customer Benefits
The hotels have experienced an estimated of 10-15 hours time saving (per week) thanks to the automation of crucial reports such as booking pace, pick up and segmentation.
Enhanced forecast accuracy now allows more effective decision-making whilst automated reporting gives key team members the essential data they need to operate more efficiently. Furthermore stakeholders within the business now receive key revenue reports delivered automatically to their inbox, ensuring the wider team are engaged with revenue.
Why Right Revenue:
During the selection process the team felt that Right Revenue's expertise and knowledge aligned closely with the needs of the properties. They felt that this was a team that not only understood revenue but were also invested in ensuring the people who would be using the system were set up for success.
Right Revenues commitment to customer support was clear. The training and development initiatives and free monthly training calls gave the team confidence that they would be treated as ‘more than just a number’.
From a technical point of view the hotels Revenue Manager, George Reeves was impressed by the flexibility of the system which enabled him to configure the set up to suit his preferences for each property.
What the Team Say
“Working with Right Revenue has been an absolute pleasure so far. The system is fantastic, and I am excited about how much more I can achieve now that I have the correct tool in place. However, what has made Right Revenue stand out is the team and the support they have provided. Quick responses, a problem-solving attitude, industry knowledge and friendly faces! I am looking forward to a long relationship with Right Revenue”.
What Right Revenue Say
George and his team are an absolute joy to work with! Add this to the fact that we have the opportunity to work with two stunning properties in London, and this was always going to be a winning combination.
George is just the type of Revenue Manager we love to work with. He understands that great tech supports his revenue making skillset and the fact that we do the ‘heavy lifting’ for him, therefore allows him to do what he does best and that is work on developing the strategy that makes both hotels not only more profitable but ensuring that they stand out from the crowd!
We look forward to partnering with George and his team for a long time to come.
