The Pegasus View (http://www.pegs.com/ThoughtLeadership/The%20Pegasus%20View/The-Pegasus-View.html):  ”Pegasus Solutions, the world’s largest single processor of electronic hotel transactions, [has launched]…a free monthly hospitality industry trends report called The Pegasus View, derived from its vast “vault” of hotel booking data.”

Compete (http://compete.com/):  Compare your website traffic to your comp set to position yourself for greater market share.

Yield SEO Analyzer (http://www.yieldsoftware.com/):  “Instantly see how well your website’s pages are optimized. The Yield SEO Analyzer…thoroughly evaluates your pages and provides easy-to-understand advice about what you can do to rank higher in search results pages. It’s a great first step toward a better optimized website.”

Wordtracker (http://freekeywords.wordtracker.com/):  Use Wordtracker to find and analyze keywords and key phrases.  Enter your keyword(s) then click Hit Me.  Your search results will display in descending order from most popular to least.  Search links display additional keywords and phrases related to a particular term.

Trellian (http://www.keyworddiscovery.com/search.html):  “For many years the Overture Keyword Suggestion was the only free, publicly available keyword research tool. Now, due to its recent outages…[Trellian]…offer[s] an alternative.  …[K]eyword data is compiled and collected from a number of search engines to provide a far more accurate cross section of searches performed world wide.”

Google Adwords (https://adwords.google.com/select/KeywordToolExternal):  Use Google Adwords to find and analyze keywords and key phrases.  Enter the security code and your keyword or phrase then click Get keyword ideas.  Search results will display by relevance together with search volume and advertiser competition.

PRESSFeed Toolbar (http://www.press-feed.com/toolbar/):  Download the free keyword toolbar from PRESSfeed.  This application gives you desktop access to Google Adwords, step-by-step instructions for optimizing content, trends, tools, other handy solutions and optional add-ons.

Discounting is at unprecedented levels.  Launching off the heels of consumer demand, devaluation presents obstacles that reach beyond the boundaries of our own backyards.  Not only are we trying to entice patrons away from our neighbors, we are also trying to persuade travelers away from destinations other than our own.  Now we are faced with the internal and external influences that will force us into a new phase.  We will be required to master the fine art of marketing value in an electronic age while trying to climb the steep mountain of rate restoration.  The solution lies in the hands of collaborators; the key players who shape the landscape with their influence and ability to broker.  Those who lead must reach out to those who dance to their own drums; the silent players who are less prone to engage in the conversation of their peers.  Furthermore, organizations that we elect to represent us as a whole must provide guidance in the form of demographics, rate analytics and industry research so we can all orchestrate a strategy for the collective good.

When a four star property undercuts rates at a three star property, the cycle of disintegration launches a downward spiral that damages revenue optimization at the property level, within municipalities and for the industry at large.  Let us not forget the immense impact hospitality plays in the global economy and how the erosion of our ability to drive revenue impacts so many others.  It is easy to lose sight of those facts when faced with the daily challenges of the survival of our own jobs and properties; not realizing how rate structuring affects us on a global scale.  The loss of revenue to the local economy has a rebound effect that reduces the reinvestment of dollars in our communities, drives resources away from marketing districts and defers infrastructure improvements that are vital to attracting visitors.  Visitors are our life blood.  They are the impetus behind business that fuels growth; attracting people to cross our thresholds, eat at our restaurants, seek out our museums, attractions and shopping venues.  Like an inch worm, we will all need to focus on the long road ahead and make steady strides together to regain a stronghold on the future direction of travel and tourism.

Contract with all of the major Online Travel Agencies and make sure you are participating in the Global Distribution System (GDS).  In today’s environment, very few independent hotel websites can compete with the exposure provided by large distributors.  Once you’re contracted, develop a personal relationship your Market Manager.  If your Market Manager resides out of town, offer to house them at your property when they travel to your area for site visits and treat them like royalty.  Stay apprised of promotional opportunities and merchandising tools.  Participate in all of them.  Merchandising tools are designed to reach consumers in different ways.  If you fail to employ any single tool, you will bypass an entire segment of consumers.  Do not automatically reject preferred margins.  Placement is king when it comes to online exposure and is especially competitive for independents.  Have a candid conversation with your Market Managers and negotiate aggressively.  Always shoot for page 1 but accept revolving placement during periods when you have limited inventory.  Maintain parity.  OTAs scrape rates on other sites and will bump your placement if you have better offers elsewhere.  They will also remember such miss-steps when it comes to future placement decisions and it will affect how your property is ranked within the companys’ internal algorithm of preferred hotels.  Keep in mind, however, that many OTAs offer opaque rates through “secret” channels that are not scraped by parity search engines.  Educate yourself about those opportunities and use them to your advantage.

Turn your front office staff into an empowered sales team.  Establish parameters within which they are permitted to match rates in your comp set.  There is a good chance other hotels in the area may offer last minute incentives you are not aware of.  Develop a telephone script for incoming calls.  This should include a standardized greeting and conversational flow of information gathering that leads to a tailored offer for each guest.  Require agents to ask for the sale at the conclusion of every call and collect email addresses whenever possible.  If an email is collected, make sure the receiving agent has the ability to send a follow-up note thanking the potential guest for their inquiry and offering future assistance.  In distressed periods, extend an unpublished rate or limited time promotion to create a sense of urgency in the booking process.

Join us tomorrow for Day 5 of 5 Low Budget Revenue Strategies for Independent Hoteliers:  Maximize third party distribution

Get to know your competitors.  There is substantial mutual benefit in having a close network of hotel professionals that can send you referral and overflow business.  Often, your competitors cannot accommodate guests because of a sell-out, overbooking or they simply to do not offer the amenities a guest is looking for.  Know the Revenue/Reservations Managers in your area and invite them to your property for familiarization tours.  Keep in regular contact and monitor their occupancy by scanning availability online.  When you detect a sell-out, call your contacts and ask them to send you overflow business.  Negotiate an overflow rate in advance that is at least 10% lower than their contracted rate for a particular guest.  Nobody will send you referrals if it costs them money.  By discounting your rates nominally, you will build in a compensation structure and prevent out of pocket expenses for the referring hotel.  Follow-up with a fax or email to the front desk to remind them that you have availability.  If hotels in your comp set tweet, follow them.  Re-tweet posts when it is to your benefit (i.e., noting a great coffee house near your hotel or an upcoming concert).  These little gestures reap big rewards, cost nothing and draw attention to your property within a global network.  Reciprocate often.  When you send referral business to another hotel, make sure you toot your own horn (loudly) and be gracious when it comes to showing appreciation for their continued support and partnership.

Join us tomorrow for Day 3 of 5 Low Budget Revenue Strategies for Independent Hoteliers:  Never forget who your friends are

A happy customer is a friend forever.  One of the greatest advantages of being an independent hotelier is your ability to be flexible and creative.  Always go the extra mile.  Call ahead to confirm a guest’s arrival and let them know you are looking forward to their stay.  Greet them like family.  The check-in process sets the tone for their entire stay.  Make a good first impression and maintain a level of exceptional service.  Even if you operate a limited service hotel, a happy, smiling staff that interacts with guests makes all the difference in the world.  If you have in-room voicemail, have a welcome message waiting prior to arrival thanking your guests for choosing your hotel and wishing them a comfortable visit.  Collect emails at check in.  Ideally, this will be part of your check-in form or something the front desk agent asks for and enters into a database; however, you can also collect business cards in a fishbowl at the front desk and offer an incentive for opting-in to your newsletter.  Send a thank you note within 48-hours of check-out.  A hand written postcard is best but an e-card is also appropriate.  Standardize your message but customize each one with the guest’s name and make sure it is signed by the General Manager.  Send holiday e-cards to past guests as a nicety, not a sales pitch.  It will be appreciated and remembered.  Plan regular newsletters or deals blasts to let past guests know about local events, upcoming festivals and special promotions to increase conversion.

Join us tomorrow for Day 4 of 5 Low Budget Revenue Strategies for Independent Hoteliers:  Empower your employees

Your comparative hotel set includes similar properties located in relative proximity to your property.  Similarities can include location, price, amenities, services and accommodations but comps can also include hotels with differing attributes that your hotel balances with its own unique attributes.  Your comp set may also include closely related properties that are not in your immediate area.  For example, if you are a luxury boutique hotel, another luxury boutique hotel across town may be an appropriate comp.  Guests drawn to niche hotels are more flexible with location because they are shopping for experiential lodging as opposed to attraction based convenience.  At the same time, do not limit your comp set to other independent hotels.  Expand your range to include brand based hotels nearby.  Shop their published rates using their own websites and third party distribution channels.  Avoid the trap of deploying seasonal rates.   Yield pricing based on market rates and compression.  Think like a real estate appraiser.  Average rates in your comp set, place a value on your strengths and weaknesses and adjust rates accordingly.  Be competitive with hotel inclusions that increase perceived value and highlight those as part of your rate strategy.

Join us tomorrow for Day 2 of 5 Low Budget Revenue Strategies for Independent Hoteliers:  Develop a referral network