The worst news a revenue manager can hear is that a new hotel is under development across the street or even across town. The only thing worse is when an entire market is in a building boom. While new supply obviously affects a market’s occupancy, a more significant problem can be pressure on average rates. In Miami, for example, average rates year-to-date through October fell by 2%, at least in part due to new hotels entering the market. When faced with new competition, revenue strategists need to develop rational and viable plans to address the spectrum of competitive pressures new, fresh hotel inventory presents to existing hotels. Here are some steps RMs, as well as their GMs and executive team members, need to consider. Get the full story at Duetto