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REVENUE MANAGEMENT
AI Breakthrough and Human Expertise Propel a Stunning 30% RevPAR Surge at Palacio Ramalhete, Lisbon, in Record Time
The collaboration with the seasoned revenue managers of the Franco Grasso Revenue Team enabled the property to adopt a more dynamic pricing strategy, effectively capitalizing on the latent demand generated by Lisbon's attractions during the low season. This partnership also enhanced online visibility, increased ADR during the high season, and seamlessly integrated the wedding and banquet segment with the OTA channels.
Increase occupancy: Palácio Ramalhete sought expert guidance to fully realize its potential, even during the low season, by leveraging its prime location, luxurious amenities, and historic charm. The sales structure was streamlined by simplifying rate plans and eliminating those that caused guest confusion, which significantly improved conversion rates on OTAs. Tailor-made low-season promotions and optimized online content further increased the property's visibility, allowing it to stand out from competitors by showcasing its unique selling points and capturing a larger market share. Additionally, a well-crafted pricing strategy was introduced to highlight lead-in room categories and offer upgrades/upselling during the low season. This approach led to a dramatic increase in occupancy, even during the colder winter months when weather and the absence of major events typically posed challenges.
Improve brand reputation: Online reputation is always crucial. The hotel sought expert advice on enhancing its presence on online channels to increase visibility. Implementing some strategic tips and tricks at the front desk significantly improved the property's online ratings and boosted the volume of reviews. This, in turn, helped increase occupancy during the low season and allowed the hotel to command impressive rates during the high season.
Improve ADR: Given Lisbon's strong appeal from April to October, it was evident that the property had untapped potential, with rates falling below what the market was willing to pay for such a unique product in an excellent location. The expert guidance of the Franco Grasso Revenue Team, combined with regular, detailed reporting—accompanied by clear explanations from their team—and the automated AI-driven pricing optimization of their Revolution Plus software, enabled the property to achieve stellar rates during the high season by capitalizing on the city’s events and attractions. Profitability through online channels was enhanced by discontinuing unprofitable OTAs and focusing on those that generated year-round reservations at the highest ADR. This strategic requalification, along with improved pricing strategies, also ensured more accurate quotations for offline segments such as weddings and banquets, resulting in significantly higher revenue than in the past.