Coeur d’Alene Resort's success with Cendyn's revenue management suite
Optimizing rates, adapting quickly and increasing revenue amidst COVID-19
With a limited view on market demand and manual revenue processes in place, Coeur d’Alene Resort realized they needed a comprehensive revenue management and profit optimization suite. The resort needed a solution that would enable them to analyze total guest value, streamline pricing processes and gain actionable insights from their data. The resort decided to look for a technology partner that would allow them to make more informed and profit-driven decisions.
Coeur d’Alene Resort’s objectives were to:
- Improve visibility of market demand
- Better understand guest value and ancillary spend on-site
- Automate processes and apply science-based revenue strategies
After reviewing a number of solutions, the property selected a comprehensive revenue management suite from Cendyn – including Guestrev and Revintel. Upon implementation, the resort started witnessing immediate benefits across various teams.
During internal meetings with sales and marketing departments, Sarah and her team leverage Guestrev to show performance of recent packages and rate changes. “Within just a few clicks, the team has a full-view of our reservations. We can quickly generate a report that shows us where guests are travelling from, the booking window, what packages they reserved – all in a single dashboard. Historically, this information was kept in various systems and would take a significant amount of time to compile.”
With the enhanced visibility of data, the marketing team can see which packages are resonating most with guests as well as geographic details that allowed them make data-driven decisions about ad placements and campaigns.
“During the reopening phase of COVID-19, our Cendyn tools allowed us to adapt quickly. We were able to identify micro-pockets of activity from drive-in vs fly-in markets which allowed us to tailor our messaging to those specific audiences and drive bookings .”
BOTOM LINE RESULTS
- The team at Coeur d’Alene Resort saves valuable time in planning rate strategies which allows their team to focus areas that need attention.
- Significant increase in ADR and total revenue
- Transient revenue was up 10.2% YOY and total revenue was up 6.7% in 2019
- Despite the effects of the COVID-19, Coeur d’Alene Resort still saw positive growth in 2020:
• Transient revenue as of October 2020 is up by 60% YOY
• Total revenue in August 2020 was up 9.6% and up 7.4% September YOY