How Marc & Rose Hospitality optimizes commercial strategies and taps into new revenue opportunities with Rate and Market Insight

REVENUE MANAGEMENT

How Marc & Rose Hospitality optimizes commercial strategies and taps into new revenue opportunities with Rate and Market Insight

Marc & Rose Hospitality is a brand deeply rooted in heartfelt hospitality and captivating locations with 7 hotels throughout the American West. When Jeff Young joined the company as the VP of Revenue Management in January 2023, he identified several opportunities. They included implementing best-in-class decision support solutions for his department, reducing rate disparity cases and optimizing internal processes, so revenue, sales, and marketing teams could work more effectively on maximizing the company’s topline. We had a chat with Jeff to find out which role Lighthouse’s business and market intelligence tools played in achieving these goals.

Why it matters: Lighthouse’s comprehensive business intelligence platform has helped this hotel ownership company eliminate rate disparity, detect emerging demand trends and improve collaboration across commercial departments.

They achieved over 98% rate parity within 90 days of implementing Rate Insight. They were able to foster stronger, more productive collaboration between sales, marketing and revenue teams.

Top 3 Core Objectives: To ensure his team had best-in-class solutions to support their decision-making and help to detect and act on rate disparity problems.

Reduce manual research time: Some of the revenue management and business intelligence tools Marc & Rose relied on in the past only provided static data in a daily snapshot. Especially in dynamic markets, this overview was often outdated after a few hours. This left the team in the dark and meant they regularly had to spend additional time on manual research.
Eliminate rate disparity: Rate disparity was a key issue costing Marc & Rose revenue and direct bookings. While they knew it was critical to address this topic, it was impossible for the small team to search for, identify and resolve all disparity cases manually.
Improve cross-departmental collaboration: Like at many other hotel management companies, the revenue, sales, and marketing teams at Marc & Rose Hospitality used many different systems in their daily work. This created a siloed set-up where it wasn’t always easy to share data and work on strategies across departments.

Innovators Mentioned

Marc & Rose Hospitality

Lighthouse

Jeff Young

VP of Revenue Management

Marc & Rose Hospitality

"Lighthouse’s data has become a critical part of our daily commercial decision-making. Being able to see which markets are getting ready to book, how demand is developing overall and how our competitors are reacting is invaluable. And the fact that it’s all live and accessible via one straightforward platform allows us to seize revenue opportunities in a timely manner."

Jeff Young

VP of Revenue Management

👍 VP of Revenue Management Jeff Young said that Lighthouse's platform provides live data that informs our commercial decisions and helps us identify unseen revenue opportunities before our competitors.:

"Lighthouse’s data has become a critical part of our daily commercial decision-making. Being able to see which markets are getting ready to book, how demand is developing overall and how our competitors are reacting is invaluable. And the fact that it’s all live and accessible via one straightforward platform allows us to seize revenue opportunities in a timely manner."

⚖️ The selection process: During their research process, Jeff Young evaluated Lighthouse's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that Lighthouse was the best fit solution:

VP of Revenue Management Jeff Young said, about their decision: "Rate Insight’s pricing data visualization is extremely powerful. Whether it’s for our weekly meetings, strategy reviews or a discussion on the fly, the tool offers an ideal format for each situation. Since the data is live, we can even track and react to our Comp Set’s last-minute offers or same-day price changes,"

📈 The results: Rate Insight offers real-time, precise pricing information for Marc & Rose. The parity tab feature enables swift resolution of cases and identification of distribution partners who frequently show disparity through practices like undercutting or unbundling.

Immediate access to the freshest data to inform pricing decisions and strategy changes Accurate comparison with competitors’ corresponding room types Consolidated live pricing data in a single platform saves time and effort
Improved to 98% parity across portfolio within 90 days of implementing Rate Insight and were able to identify, research and address rate disparity issues in just a few clicks Re-evaluation of distribution partnerships to avoid future disparity cases
Easy access to live market and demand data fosters communication between sales, revenue and marketing teams Improved cooperation among commercial teams leads to more targeted promotions and pricing strategies