Become a Hotel Program Management Expert
Our courses are designed to help you boost your strategy across several key areas in your program
Are you hoping to learn how to right-size your hotel program?
Or maybe you’re interested in the behavioral economics behind setting market-level rate targets. Our courses are designed to guide you through each step of building and executing a hotel program strategy.
OPTIMAL PROGRAM SIZE AND STRATEGY:
In this course, our Hotel Boost expert will take you through four modules designed to teach you how to right-size your program based on your volumes and which pricing constructs to use in each market tier. You’ll learn the detailed steps to take to reduce the amount of time and effort you spend sourcing and managing your hotel program. We’ll also take you through diversifying your rate types and leveraging exclusive rates for our small to medium size clients that BCD has negotiated on your behalf.
At the end of this course, you will be able to:
- Determine the optimal number of properties to include in your hotel program.
- Segment your markets and properties three tiers based on room nights and negotiating leverage, and understand which rate types are best to negotiate for each tier.
- Confidently address how you will utilize other rates within your program such as chainwides, agency rate programs, HBA/OTA rates, and restricted rates
- Understand how you can manage hotel spend by influencing traveler booking behavior
NEGOTIATION OF PROPERTIES & CHAINWIDES:
This three module course is a deep-dive into how to negotiate with hotel suppliers. Our Hotel Boost expert will cover the recommended aspects & amenities to include in rate negotiation, how to create leverage using the data you have available (like previous rates, city trends, and market rate benchmarks), and how to negotiate a chainwide or brandwide deal. They’ll also take you through the mechanics and psychology of negotiation, including how to set an anchor, and when to walk away.
At the end of this course, you will be able to:
- Understand and explain the concept of anchoring and why it is critical to negotiations.
- Identify which data to use in hotel negotiations and use it to build a compelling business case for a property or chainwide negotiation.
- Articulate the qualitative aspects involved in hotel negotiations, know when they matter and when to use them
- Successfully conduct a data-driven negotiation for an individual property or a chainwide discount
MARKET-LEVEL RATE TARGETS:
In this course, you will learn the difference between a rate cap and a rate target, and how market-level rate targets will save you money. Our Hotel Boost expert will teach you how to offset the move to a smaller program size, creating "coverage" in your smaller markets. You’ll not only dive into the behavioral economics behind how and why rate targets work, but you will also build a detailed plan on how to set, implement and maintain these targets. Get ready to influence your travelers’ booking behavior and drive down your spend.
At the end of this course, you will be able to:
- Understand how anchoring is used to guide traveler decision making
- Set market-level rate targets and load them into your OBTs
- Continuously review and optimize the rate targets so they remain relevant to your travelers
- Make better informed decisions on which properties to continue including in your hotel program
USING ANALYTICS TO IMPROVE YOUR HOTEL PROGRAM
This three module course is a deep-dive into how to negotiate with hotel suppliers. Our Hotel Boost expert will cover the recommended aspects & amenities to include in rate negotiation, how to create leverage using the data you have available (like previous rates, city trends, and market rate benchmarks), and how to negotiate a chainwide or brandwide deal. They’ll also take you through the mechanics and psychology of negotiation, including how to set an anchor, and when to walk away.
At the end of this course, you will be able to:
- Understand and explain the concept of anchoring and why it is critical to negotiations.
- Identify which data to use in hotel negotiations and use it to build a compelling business case for a property or chainwide negotiation.
- Articulate the qualitative aspects involved in hotel negotiations, know when they matter and when to use them
- Successfully conduct a data-driven negotiation for an individual property or a chainwide discount
IMPROVE SUSTAINABILITY IN YOUR HOTEL PROGRAM
In this course, you will learn the difference between a rate cap and a rate target, and how market-level rate targets will save you money. Our Hotel Boost expert will teach you how to offset the move to a smaller program size, creating "coverage" in your smaller markets. You’ll not only dive into the behavioral economics behind how and why rate targets work, but you will also build a detailed plan on how to set, implement and maintain these targets. Get ready to influence your travelers’ booking behavior and drive down your spend.
At the end of this course, you will be able to:
- Understand how anchoring is used to guide traveler decision making
- Set market-level rate targets and load them into your OBTs
- Continuously review and optimize the rate targets so they remain relevant to your travelers
- Make better informed decisions on which properties to continue including in your hotel program
Engage with your Community
Each Hotel Boost course comes with access to the Community. Come together with your peers to discuss a variety of challenges and opportunities, and to share best practices. Our subject matter experts will join in the conversation to address your questions and help give your program the boost it needs to take it to the next level.
