IHIF 2010 & Total Revenue Management

The Annual IHIF (International Hotel Investment Forum) Conference in Berlin is completed and to a very nice surprise there were 100 more attendees than 2009, and 500 attendees that never had been to the forum before – excellent signs that business is moving again.
We are extremely pleased with our meetings with investors, owners, CEOs as these people are not the usual target audience we meet in our daily dealings with The Conference Bench. This data about C&E is not available out there for them and is really critical to help them make better decisions. We received very positive feedback on our reports and system and this will be very helpful in the coming months of business. We hope for either the next IHIF 2011 or possible already at AHIC (Arabian Hotel Investment Forum) in Dubai later in May to present some data or at least raise the subject higher up the agenda.
The topic of Revenue Management was on many speakers agendas as one of the most important aspects of Hotel management to guide hotels through this difficult time to manage with the stress of less demand and tougher competition. A lot of focus was on Rooms Revenue Management which is 70% or more of their business for the majority of hotels, but several also mention that Total Revenue Management is the real Key to success, and managing the downturn. We were extremely glad to hear this as C&E and F&B are generating money as well, but again – no one really knows how much revenue is in the market, and how much their hotels are taking.
Do you already practice Total Hotel Revenue Management or are you planning to get it into place in the near future? Let us know your thoughts in the comments below!