A short post today but it is ripe for feedback. New data from a recent IDeaS survey reveals that 63 percent of respondents indicated that an increase in revenue for 2011 would most likely be driven by rates, versus occupancy.
The results of this survey begs a few questions.
- Can you effectively increase rates without an increase in demand?
- What happens when a competitor slashes rate to increase occupancy? Will you tow the line or will you cut rate to compete?
- Are you forecasting for increases in rate? Did you increase your group rates?