The Revenue Recovery Specialists system works this way. Revenue Recovery Specialists will perform an audit of your hotel property's Online Travel Agency (OTA) reservations currently held in the OTA's reservation system. The audit will review each reservation for the previous 12 months (as brands allow) identifying all unpaid reservations not credited to the individual hotel’s account. Revenue Recovery Specialists auditors will submit those to the property manager to submit to the online travel agency for payment.
Revenue Recovery Specialists will obtain from the online travel agency, all reservations held in their system that shows a balance due to the hotel property. This is what Revenue Recovery Specialists calls the "Discovery" phase. As each reservation is reviewed Revenue Recovery Specialists will remove any and all reservations that the hotel is unable to process for payment. This phase is called the "Net Recovery" phase of the audit. Once the netting is completed, Revenue Recovery Specialists will then provide a spreadsheet to the hotel management for reservations to submit to the online travel agency for payment. At NO TIME does Revenue Recovery Specialists get involved in the payment processing between the hotel property and the online travel agency. Revenue Recovery Specialists does not have access to the property management system to process payments of any kind. Revenue Recovery does, however, offer consultative services during the entire audit process.
The audit is performed with minimal time requirements of property managers since the audit is performed remotely. In the interest of transparency, Revenue Recovery Specialists provides the management company or individual hotel or resort, a weekly updated status of each property audit to include names, dates recoverable amounts, proper invoices, billing dates to make the whole process easy to manage. During the audit, Revenue Recovery Specialists will never need access to the property management system, does not have access to any client financial information and we do not data mine the property. We do not have that access to that information, nor do we need it. As the audit is being performed, hotels see immediate revenue within 7 to 10 working days.
If you want to have a confidential, no obligation regarding opportunities that might be available for your properties, contact us at 407-915-3700 or sales at 407-284-0900. You can even email us at larry@contactrrs.com.