Market Segment Tracking

Braidwood Hospitality Management analyses our client’s historical business trends and guestroom room sales and segment them into areas that make sense and establish seasonal rates for each segment. This will help identify those segments that are historically strong performers for your hotel as well as those that are weak but should be stronger. From this we assist our clients with the development of their Hotel Sales & Marketing Plan, Advertising Strategy, and other activities that help grow each market segment and improve their fair market share.

More often than not, we hear “I have never tracked my market segments, why is this important and how can I get started?? Knowing which market segments contribute to your overall occupancy, ADR, revenue and RevPar is important for many reasons not least of which is identifying your best customers and “building fences? around them. This allows a hotel to be better prepared to anticipate and minimize predatory competitive practices. In addition, tracking will quickly identify emerging segments that have been historically marginal and alert you when there is a softening in those segments that have been historically strong.

Braidwood can help with the selection, installation and training for both PMS and CRM solutions. Why is this important?

Most hotel Property Management Systems (PMS) are set up for market segment tracking however in small and medium sized hotels & resorts it is an underutilized management tool. In today’s competitive marketplace Customer Relationship Management software (CRM) can provide Hotels and other hospitality related businesses with an added advantage when it comes to tracking as well as helping to create, maintain, and retain satisfied and profitable customer relations.

The installation of a CRM solution will allow your business to compete better by providing you with the ability to track all aspects of sales, identify factors important to your clients, handle customer complaints, and improve your tracking and analysis of customer information thus developing proactive customer friendly tactics.