What are some effective ways to communicate yield management strategies to your hotel sales team?

Understanding that the sales mind works differently from the revenue mind and the sharing of data needs to be simplified in the start and gradually building up on the details once the sales team gets the hang of it. Bombarding them in the start with loads of data could create the opposite effect if not delivered appropriately. I found sharing RGI and market share info very valuable particularly when they are invested in beating the market through ARI rather than MPI. Showing the sales team how they have helped contributed to the positive RGI results leaves a huge impression to making the right decisions for the future.

Effective communication tips: Explain dynamic pricing rationale - optimize asset value across segments Illustrate forecasting models and role of predictive data Emphasize overbooking math principles Highlight process of competitive set benchmarking that informs strategies Share samples of rate variation tested by segment Review reports on price elasticity impacts Detail channel management policies underlying rate availability Spotlight optimization tools that inform decisions Feature case studies showing revenue lift from effective strategies Solicit input on communicating value, driving adoption across guests The keys - educate on rationale, data, processes fueling approaches to build understanding and adoption.

To effectively communicate yield management strategies to your hotel sales team, start with the basics, define yield management, and highlight its importance. Use real-world examples to illustrate its benefits in terms of increased occupancy, revenue, and average daily rates. Debunk common myths, emphasize the team's role, and provide training and resources. Create a supportive environment for questions and feedback, measure success, and ensure ongoing education to keep the team informed and engaged.

We need everyone to participate in Yield management and contribute to hotel's success. Some of the ways we communicate to the team are : 1. Sharing the Big wins and how they have contributed to the hotels success 2. Win together with the team over high demand period by proactively focusing on Premium room sales and drive higher Length of stay pattern 3. Market Share and RPM always helps to bring effective revenue management strategy and what more as a team could be achieved

I would consider 1. Simplify complex concepts with clear examples. 2. Use visual aids like charts or graphs to illustrate concepts. 3. Offer interactive training sessions for hands-on learning. 4. Provide ongoing support and case studies for practical application.

To effectively communicate yield management strategies to your hotel sales team, use historical and forecasted data to illustrate demand variations, pricing adjustments, and the impact on revenue. Show how yield management helps avoid overbooking, target high-value customers, and stay competitive. Use charts and graphs for visual clarity, and consider interactive tools for deeper engagement. Data empowers your team to understand and embrace these strategies.

Emphasize the need for tailored strategies during peak and off-peak seasons, events, and long-term vs. short-term planning. Seasonal Variations Resort vs. City Hotel Event-Specific Strategies Long-Term vs. Short-Term Planning Customer Expectations Flexibility Addressing these aspects in your communication will help the sales team appreciate the relevance and adaptability of yield management to the hotel's unique circumstances.