Hotel revenue management consulting is an independent review of how a hotel prices, distributes and forecasts its rooms, followed by the strategy, calendar, reports and training to earn more from the same inventory. Unlike outsourced revenue management, the consultant does not make the daily decisions; your team does, with a better plan.
Demand drivers in Chicago: Lollapalooza and summer festivals; McCormick Place conventions; Cubs, Bears and Bulls seasons; Christmas markets and Magnificent Mile lights. Typical guests: Weekend leisure guests, convention attendees and families visiting Wrigleyville, River North and the West Loop. Where the work starts: Summer-heavy seasonal spread, convention and concert premiums, and winter floor pricing paired with longer minimum stays.
Chicago hotels sell to convention attendees, corporate travellers and summer leisure guests, so convention calendars at McCormick Place drive pricing more than almost anything else. We set convention-week pricing early, protect festival weekends from discounted groups and track comp sets separately for the Loop, River North, the Magnificent Mile and the South Loop. Winter weekends need targeted leisure packages.
The full service is described on our hotel revenue management consulting page; this page covers how it applies in Chicago.