Climbing Out of the Valley: Scalable Strategies for Filling Need Periods

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Session Description:

Filling need periods when you notice a less than desirable dip in occupancy is a vital component of a scalable revenue management strategy. While some need periods can be planned for, others are less predictable. How do you build a balanced strategy to accommodate a last-minute shift in booking pace that boosts occupancy without over-discounting and sacrificing revenue opportunities? We will cover end-to-end strategies you can implement to help identify, promote, and fill need periods, including using historical search trends and booking data to anticipate need periods; crafting a strategy-driven offer or promotion to stimulate demand; coordinating your revenue management strategy with your website and digital marketing efforts; tracking, measuring, and repeating your success; and preparing back-pocket strategies to navigate the unexpected. If you have ever experienced the financial strain of shoulder season, the panic of a last-minute group cancellation or the sudden drop in occupancy that comes along with weather events, natural disasters, and other community disruptions, this session is for you.

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