Monsieur Jean is a gorgeous, 78-room, boutique property in the heart of Quebec City. Opening just before the pandemic proved to be a unique challenge. They implemented Rate Yield in the second half of 2023 and immediately saw the impact on their performance. RevPAR nearly doubled every month since the integration was complete.
Due to the impact of the pandemic and the lack of history for the new property, Rate Yield used Costar data of Luxury and Upper Upscale properties in Quebec City to create a benchmark and properly measure the results.
In the months when the benchmark experienced the highest ADRs and occupancy rates, Monsieur Jean outperformed the benchmark in RevPAR by 14.9%. While the revenue growth has been substantial, we have looked only at the difference compared to benchmark to evaluate the return on investment, and in just 6 months the ROI for the property has been 104:1.
We spoke with Emma-Jeanne Bouchard, General Manager of Monsieur Jean, and here is what she had to say about her experience:
Rate Yield has been a real game changer for our property.
We saw the positive impact of the software immediately after implementation. It saved us an enormous amount of time and resources, which had a positive impact on our daily operations.
It has also enabled us to maximize our revenues and occupancy according to the realities of our market and our target competitors, considering the particularities of each period. I no longer feel I am missing out on sales opportunities.
The software is very intuitive and easy to use, with incomparable flexibility. It is an asset for testing different strategies, both seasonal and on weekdays and weekends.
We also have exceptional support from the team when we need it. They are very responsive and professional, and we greatly appreciate their cooperation.
Finally, the reports generated by Rate Yield are comprehensive and practical. I consider Rate Yield to be a very effective and efficient revenue management solution.
We look forward to continuing our relationship with Monsieur Jean as we reach new heights.
