NASHVILLE, Tennessee — The focus of PM Hotel Group's revenue management team this year has simply been "continuing."
Speaking during a video interview with Hotel News Now during the Hotel Data Conference, PM Hotel Group Vice President of Revenue Management Tina Meredith said her team in the past year has "done a great job in continuing to be flexible with their strategies and pivoting very quickly," resulting in portfolio-wide revenue per available room "well over 100%" of pre-pandemic levels.
Meredith said the team has achieved these results while taking on more responsibilities and despite fewer resources.
One of her team's best practices for much of the pandemic has been looking closer at the 30-, 60- and 90-day booking window.
"From a pace perspective, we're focusing on how the pace looks compared to same time last month for the same number of days out, because we don't have good comparisons even year over year still," she said. "I would say that's definitely one thing we're doing to stay ahead, along with taking more of just a holistic commercial strategy approach."
When asked what's top of her mind, Meredith candidly said: "Budgets."
"That's really a challenging thing in our environment still," along with a looming economic slowdown, she added.
Another topic of concern is the potential softening of leisure travel demand and whether business and group travel will be there to replace it.
PM Hotel Group's portfolio consists of full- and select-service branded and independent hotels across the U.S..
For more from Hotel News Now's interview with PM Hotel Group's Tina Meredith, watch the video above.