The Loren at Lady Bird Lake
Rate Audit and Transient Sales Strategy
The Loren at Lady Bird Lake (The Loren) is a luxury hotel, walkable to downtown Austin, Texas, which has 108 elegant guest rooms and suites with extraordinary views of Lady Bird Lake, Austin, and the Texas Hill Country. With curated culinary experiences, an exceptional spa, live music, and group event space, The Loren truly has something for everyone.
In Q4 2022 through May 2023 the hotel had a limited variety of rate offerings and a low RevPAR index. Recognizing this needed to be improved, the hotel engaged with PTG Consulting for an assessment and ongoing Revenue Management Support.
Client
The Loren at Lady Bird Lake
Industry
Hospitality
Services
Revenue Management
The Solution
PTG Consulting performed a thorough audit of rates, distribution, and an overall commercial strategy and supporting processes. Based on the opportunities identified, a transient strategy was developed that would diversify the rate offerings which included expanding the rates offered, increasing the number of 3rd party distribution sites with which the hotel is connected, implementing evergreen rate promotions, and engaging with new program partners such as Fine Hotels and Resorts (FHR).
We also updated processes and tools and provided operational guidance with the hotel’s systems. The hotel staff, which had an extensive F&B background, was very receptive to these ideas and willing to strategize with us.
The Results
Average RevPAR Index increased 81%
Hotel’s fair share of the Fine Hotels & Resorts results tripled.
As they continue to connect with more dynamic OTA sites, monitor the new evergreen rates, and use their new tools, the property continues to make progress and expects to experience future growth moving forward.
81%
Growth in RevPAR Index
3X
Fair share of FHR business