HVMG's revenue maximization strategy optimizes short-term
opportunities while protecting the future of our business. In our full-service
hotels, considered the industry's hardest-hit segment, we have been
particularly effective, outperforming the US industry average by 32% and almost
$14 in total revenue per available room.
Examples include:
- Adjusted Starbucks staffing
model and hours of operation to generate $100K more in revenue than same time
last year. (Resort Hotel)
- Partnered with high-quality
local restaurants to accommodate small group meetings, resulting in $6K in
group meal revenue. (Airport Hotel)
- Created outdoor seating;
new menu options; and take-away options to best suit immediate guest needs,
resulting in +$10K over last year in a la carte restaurant revenue. (Resort
Hotel)
- Expanded alcohol sales
through our pantry when area bars were forced to close, exhausting dead stock
and ensuring we lost no inventory. Sales have averaged 250 bottles of beer and
40 bottles of wine each month. (Full-Service Hotel)
We continue to grow market share, enjoying a
portfolio-wide RevPAR Index growth of 7.3%. Read more about HVMG's industry-beating C19
performance here.
