GREENBELT, MD—Chesapeake Hospitality, a leading third-party hotel management company, has launched a new initiative to highlight the increased need across the industry for expert-level revenue management. The RevAdvantage by Chesapeake program aims to support hotel owners and operators’ revenue management needs through short- and long-term partnerships while they strategize in an industry suffering record low demand during the pandemic.
“People are hurting. Revenue is the way out and we know how to do it. As hoteliers work through the recovery process, feeling the economic effects of the COVID-19 pandemic, we will meet a need for professional, robust revenue management services,” said Chris Green, CEO of Chesapeake Hospitality. “This pandemic forced us to think differently and respond to the need in the market for expertise and advice when owners need it most. We know how high of value Chesapeake’s owners place on our revenue services, and through our strategic decision to retain 100% of our corporate staff, we are able to offer that service to a broader marketplace. “
RevAdvantage was developed through the adept knowledge, skill and application of Chesapeake principles across numerous systems, programs and technology partners. The service is designed to provide short- or long-term assistance that supports existing processes and ultimately exceeds client expectations. Chesapeake has 60-plus years of proven experience in successfully establishing and executing comprehensive strategies that increase market share and boost revenue. RevAdvantage allows owners to essentially get a second opinion on their revenue strategy and determine their plan for recovery.
“Since inception, Chesapeake has always worked in deep turns and difficult environments,” said Green. “This depth of experience has demanded a level of attention on revenue performance not normally seen in the marketplace. To be frank, distress is nothing new to us. We aggregated our best practices across all brands and independent environments and packaged them to meet the immediate needs of owners today.”
The team is led by Cassie Bond, who in 2018 was recognized by HSMAI (Hospitality Sales & Marketing Association International) as Corporate Revenue Management Professional of the Year. Bond is supported by five of Chesapeake’s most focused and driven individuals with more than 65 years of combined revenue management experience.
“In her role as VP of revenue strategy, Cassie is the leader of the program,” said Green. “She has expert-level knowledge in the world of revenue management, working across brands and systems like IHG, Hilton, Marriott and Wyndham to deliver outsized financial results. Cassie and her team of highly trained revenue directors will work one-on-one with the owner and their e-commerce, digital marketing and direct sales teams on strategy, forecasting and reporting, demand analysis and more.”
“The last six months have tested even the most prepared hotels,” said Bond. “It’s not enough to simply have a plan for revenue maximization. Today, owners and operators truly need a trusted partner that drives and executes revenue strategy every day, with a relentless drive to capture every dollar. RevAdvantage provides accessible, expert-level insight to those who want to establish a successful revenue plan, no matter what the future holds.”
Clients will experience Chesapeake’s personalized and consultative approach to revenue management, be treated like a true partner in identifying opportunities for revenue maximization and receive detailed reports, outlines and strategy updates along the way.
Green explained how the program will work for those who are interested. “Chesapeake management clients already receive this service. As we now are offering RevAdvantage to the broader market, the process begins with a consultation with Cassie Bond and her team,” said Green. “Together, you’ll work out individual revenue goals in the short- and long-term and create a concrete plan. Think of this as an a la carte service to get a new perspective and second opinion. Chesapeake’s depth of experience, along with our highly trained team, make them the perfect partner to get a second opinion and find financial success—even in these times.”