introducing

thefarrenpartnership revenue management designed for hotels

welcome

thefarrenpartnershipwas established to provide hotels with a focused, virtual rooms revenue management service, along with a range of quality training programmes and business process consultancy for the reception, reservations and revenue departments.

Especially in today’s difficult trading environment, not all hotels have the luxury of budgeting the position of a Revenue Manager within the hotel structure. However, market conditions dictate that this is an essential service if hotels are to deliver a yield premium.

Therefore, thefarrenpartnership can deliver this service at a reasonable rate.

revenue management designed for hotels

Creating lasting working relationships is a key cornerstone of a successful project – the no. 1 priority for thefarrenpartnership.

We have been working closely with Patio Hotels in Aberdeen with their efforts to move to a franchise model of operation. The hotel has recently joined the Doubletree platform, a brand of Hilton Worldwide. thefarrenpartnership was invited by the hotel to assist with moving over to Hilton's proprietary software, OnQ with additional mentoring/training and working procedures improvement.

We have continue to enjoy a working relationship with Hilton Worldwide by assisting in the deployment of their new OnQ proprietary software into their international estate.

revenue management designed for hotels

working partnershipsthefarrenpartnership

Building Confidence(Classroom based Programme)

Pathfinder(Coaching and Mentoring

Programme)

services offeredthefarrenpartnership

revenue management designed for hotels

Hotel PMS Training

Front Office Process Improvement

Virtual Rooms Revenue Management Service

(vRMS)

virtual rooms revenue management service

thefarrenpartnership can provide a focused, virtual rooms revenue management service to hotel clients. Since this is a remote service, we would need to work with your IT provider in securing a link to your network and reservation/property management system.

We can offer 2 business models:

Continuing Partnership ~ this is a long-term solution, designed for hotels who have identified a need for a dedicated revenue manager and includes the following:

Initial on-site property visit (1 – 2 days) to interview staff and gather dataConduct an audit of the property, rates and room typesand any of the following services ~

Demand Analysis identify market trends review demand calendars scrutinize historical data to anticipate future growth patterns competitor value assessments

Forecasting with the assistance of your sales and reservations in-house teams,

prepare weekly and monthly forecasts revenue management designed for hotels

virtual rooms revenue management service

Influencing pricing strategies via a daily conference call, provide a daily detailed report for the next

7 days to communicate performance, booking pace and set pricing Conduct Weekly Business Focus Meeting with sales and reservations

teams to address concerns, distressed inventory days and initiate actionable takeaways for the in-house team

weekly review for next 3 month group business

Analysis of Actual Production review of month end room statistics. Production of Month End Pack

containing key performance indicators comparison to forecast and plan

Online Distribution providing strategy to drive and grow revenue through online channels,

project managing the installation of channel managers and developing relationships with the OTA Market Managers

Interim Partnership ~ this is gap filler solution, whereby a hotel may need a short term solution for their revenue management function or to use us on a project management basis. Any of the services outlined above can be included.

We can certainly co-ordinate the purchase and installation of 3rd party data providers to monitor your position within your competitive set and enhance your revenue strategy. Providers are:

STR Global ~ provides historical key performance data for your market IDeaS ~ revenue management solution MarketVision by Rubicon ~ provides shopping rate data for your

competitors

We can provide end user training and coaching in various systems

Fidelio

Front Office v6

Micros Opera Hilton OnQ

system training

Fidelio Sales & Catering

revenue management designed for hotels

We can provide a consultancy service to examine your current business practices in front office and suggest

areas for improvement

Reception Checklist Design and

Improvement

front office process improvement

revenue management designed for hotels

Reservation Checklist Design and

Improvement

Night Audit Training Service Delivery Reporting

These are classroom based training courses. The aim of both courses is to develop skills for your front of house teams to deliver a standard of service that is necessary in the value-driven hotel market. By building the confidence of your team members (any hotel’s primary asset), they will be equipped with the skills required to deliver your service guarantees. Each course is a full day session, with a maximum of 15 delegates per session

Confidence in Hotel Front Desk

building confidence

revenue management designed for hotels

Confidence with Customers

This programme is a coaching and mentoring service

pathfinder

revenue management designed for hotels

Team Member Training and Development Cards can be customised to suit the client hotel, depending on their business process needs. Each Team Member nominated for the programme will then be coached until all development needs are successfully completed.

Integrated components of the programme should include the following:

Property Management System Skills

Customer Service Skills

Internal Policy and Procedures

for a Client Needs Assessment, please contact Neil Farrent: 07817 838 773 e: thefarrenpartnership@gmail.com