- How improve your Revenue Realization Rate:
The Revenue Realization Rate (RRR) measures how much of the revenue that guests requested you were able to capture, so the more revenue you capture, the higher your RRR will be. A good benchmark for the RRR is 60-80%. To improve your RRR, here are some tips:
- Make sure you check the queue daily to check for any unactioned requests
- Look a few days ahead for any larger requests- these of course can impact your RRR a lot. Aside from clicking ahead in the calendar, you can also use the Activity Report to check on future requests:
Just select the time range and review the pending requests for the upcoming days and weeks. This report can also be downloaded to Excel.
- Should you see any requests that you likely cannot award, make sure to deny them not early, but on the day of arrival, as your inventory may still change in the meantime.
- Every decision you take in the Upsell Manager can still be revised- if you denied a request, but you had a few last-minute cancellations from other guests, you can still change the request and award this guest.
- Make sure the queue is checked before your team balances the house. eStandby helps you identifying guests that are willing to pay for an upgrade, so upgrade these guests first before you start handing out upgrades complimentary.
- Ensure there are high value upgrades (Premium Suites, One-Bedroom Suites) to contribute high incremental revenue to Revenue Realization Rate.