Icons and Experts: Maximizing Profits in Extended Stay Hotels: Expert Strategies for Revenue Management Success

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Discover the essential strategies for optimizing revenue in extended stay hotels! In this episode of ESLA’s Experts & Icons, Ewa Kemper, VP Revenue Management at Dellisart and cohost Doug Artusio, ESLA’s Founder, share essential tips for revenue management and the importance of finding the right balance between extended stay and transient guests. Maximize profitability without compromising the unique operational model of extended stay properties.

Thanks to Dellisart for sponsoring this show!!! Visit them at dellisart.com and ask them how to help you increase your hotel's revenue.

Key Points: • Revenue Strategy: The crucial balance between extended stay and transient guests to optimize profitability. • Profit Comparison: Analyzing the profit margins between short-term and long-term stays. • Operational Efficiency: The importance of maintaining high occupancy with the right revenue mix. • Customer Engagement: Techniques to convert third-party bookings into loyal customers. • Market Understanding: The necessity of knowing your market, competitors, and customer demographics. • Dynamic Pricing: The importance of real-time pricing adjustments and market responsiveness. • Communication: The critical role of communication between revenue managers and property staff. • Diverse Business Sources: Leveraging various channels and customer types to fill rooms efficiently. • Value Proposition: Highlighting the unique amenities and value of extended stay properties.

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