- July 10, 2021
- Posted by: Stratford Team
- Category: Business
When asked why our accounting firm service team had won the competition for a large tax engagement at a global hotel chain, the CFO counsel smiled and said: “RevPAR! Only your team seemed to know about RevPar.”
For those who don’t know what RevPAR is (and I certainly didn’t prior to the launch of our sales pursuit), it stands for Revenue Per Available Room — a measurement calculated by multiplying a hotel’s average daily room rate by its occupancy rate. It is a number that every individual in the executive suite monitors, and it is the benchmark by which investors measure the company’s competitive position.
How did we come to know about RevPAR? Great research! From the moment that the CFO told us why we won, I have never doubted that research is every bit as important to sales success as is social awareness, listening, presentation skills, and polite persistence. It’s why my co-author Silvia Coulter and I devote so many pages…