The Watergate Hotel
The Watergate Hotel, which re-opened in Washington, D.C.’s infamous Watergate building in the summer of 2016, has been challenged with new market supply and high hotel turnover, along with an absence in the Revenue Management department for an extended period of time. Due to the vacancy of this position, the hotel had a deficiency in Revenue Management policies, systems, procedures and strategy.
- Conduct an onsite Revenue Management Assessment to identify key revenue and profit opportunities for the hotel
- Prioritized actionable item list based on estimated ROI, ease to implement and estimated financial impact to hotel
- Support hotel in ongoing project management of action items and overall strategy
- Supported the hotel in conducting a review of online travel sites to address rate parity issues and create a consistency in rates being sold across all channels
- Trained new revenue team on the hotel's central reservation system
- Completed a thorough audit to identify areas of opportunity; recommendations were provided to optimize the hotels revenue and distribution platform.
- Conducted a revenue management assessment with the new hotel revenue director to ascertain areas of opportunity in the hotel’s revenue management systems, processes, and strategy.
- Provided a detailed analysis of the hotel’s comp set and provided annual forecast for the property