Hotel Bonaparte, a gorgeous, 37-room boutique hotel in the heart of Old Montreal has been using Rate Yield since June 2023. In a market like Old Montreal, where a majority of the hotel offering are boutique, independent properties, competitive pricing and real-time market dynamics are crucial for hotels that want to stay ahead of the curve and optimize pricing.
As is the case with many smaller properties, maximizing occupancy was not the goal of implementing Rate Yield. Throughout the high season after the launch, occupancy growth remained flat for the property. ADR growth for the same period was approximately 27%. Ultimately, revPAR growth for the property was not only impressive in its own rite, but also outperformed the market in every month of the year. Even in the month of December 2023 where the revPAR growth was negative, Hotel Bonaparte was less impacted than the market.
“Independent hotel managers know that every dollar counts and Rate Yield has paid for itself almost immediately. My day is now spent optimizing our value proposition rather than monitoring and updating prices. They have become a trusted ‘second-in-command’ to our revenue management strategy.”
Paul Ielovcich, Director of Performance Management at Epik Collection
The Rate Yield team is honoured to be a part of the Epik Collection’s revenue strategy and look forward to supporting them in their growth for many years to come.
