by Carolyn Davis, CMP
Revenue per available room, or RevPAR for short, is a ratio commonly used to measure financial performance in the hospitality industry. The metric, which is a function of both room rates and occupancy, is one of the most important gauges of health among hotel operators.
As a meeting planner, you should understand and talk knowledgeably about the importance of your group’s business. With this information, you can then assess how it plays into and benefits the Rev PAR of the hotels you are considering.
The more it benefits the hotel’s RevPAR, the more it will benefit your group’s rates and concessions. The good news is that it’s not us against them. It is us working with them for a win-win. How can we do this?
Know the factors that affect RevPAR:
Ask your Salesperson:
Once you understand how RevPAR works, you’ll have a powerful tool that will help you negotiate your next meeting.
Carolyn Davis, CMP, owner of Strategic Meeting Partners is a past Meeting Planner of The Year for MPI San Diego. She is an WOSB and IATAN certified meeting and event planner. She has been responsible over the past 20 years for producing DMC programs, special events and meetings for corporate and association clients ranging in size from 100 to over several thousand people including John Deere, Oracle, RealPage, CSC, InTouch Health, and US4Warriors. Davis is a noted expert and speaks globally.
Any views or opinions represented in this blog belong to the writer and do not necessarily reflect the view or opinion of SPIN. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information and will not be liable for any losses, injuries, or damages from the use of this information.
This blog may not be copied and published without the written permission of the writer and SPIN.
Have something to say? Say it on The Chatter, SPiN members are invited to submit Blogs for publication in The Chatter. If you are interested send an email to firstname.lastname@example.org. Let us know what you want to blog about and we will contact you.
Kathie Niesen, CMP
Members of SPiN