Room Types, Pricing and Segmentation reviewed (cf Days 2, 6 and 9)… You are ready to build the best budget for a challenging 2021!
- Have a look at the past trends, it is however unlikely that you will manage to get the same mix as previous years
- Sit down with Sales and Digital (or with yourself if you are doing it all!) and define the key elements of your business: what was/is working in term of pricing, business mix and distribution and where you would like the business to be
- Be aware of the top management expectations
- Once your targets are defined and opportunities identified, you are ready to draft your Commercial Plan that will help you support any decisions you will make and help you reach your goal
- Your budget should be as detailed as possible:
- Daily details of ADR and Occ by Big Segments
- Key events / opportunities highlighted
- Compare month by month and make sure the strategy is consistent
- Summarise the data with graphs and monthly key elements.The 3 main key targets for the year should be easily understood by the entire team
