For Hotel Revenue Managers ·
What you'll accomplish
You'll create a Custom GPT in ChatGPT Plus that is pre-loaded with your property's pricing rules, comp set profile, market characteristics, and reporting preferences — effectively a private AI assistant that already knows your hotel. Every time you open it, it knows your rate floors, your comp set, your budget targets, and your communication style. You get consistent, property-specific outputs without re-establishing context in every session.
What you'll need
Before building the GPT, write a 1-2 page document with all the context your AI assistant should know permanently. This is the most important step — the quality of your Custom GPT depends entirely on the quality of this document.
Create a document called "[Hotel Name] RM Context" with these sections:
PROPERTY OVERVIEW
Name: [Hotel Name]
Location: [City, State]
Size: [X] rooms, [room type breakdown if relevant]
Brand/Segment: [e.g., Marriott Select Service, Independent Boutique, Hilton Full Service]
Ownership/Management: [brief context]
COMPETITIVE POSITION
Comp set: [List 5 comps with brand, room count, distance from our property, key differentiators]
Our positioning: [e.g., "We lead the comp set on TripAdvisor (4.5 vs. avg 4.1) and typically price at a $15-20 premium to comp set average."]
Key differentiators: [location advantage, F&B, renovated rooms, loyalty tier, parking]
RATE STRATEGY
Rate floors: $[X] weekday, $[X] weekend, $[X] event/peak
Target MPI: [X] | Target ADR index: [X] | Target RGI: [X]
When we discount: [your actual policy — e.g., "Only below rate floor if 30+ days from arrival and occupancy below 50%"]
When we hold premium: [e.g., "Any event with estimated 5,000+ attendance within 30 miles"]
MLOS policy: [when we apply and what lengths]
Advance purchase restrictions: [when and how]
MARKET CHARACTERISTICS
Demand pattern: [e.g., "Mon-Thu corporate from [industry]; leisure Fri-Sun; shoulder Tue and Sun"]
Key demand generators: [corporate accounts, universities, hospitals, recurring events]
Seasonal pattern: [peak months, trough months]
Annual events: [list top 5-10 with typical demand impact]
New supply / market headwinds: [current competitive threats]
BUDGET TARGETS [current year]
RevPAR budget: $[X] | ADR budget: $[X] | Occ budget: [X]%
RevPAR prior year: $[X]
REPORTING STYLE
GM communication: [direct, brief, data-first, action-oriented]
Owner/asset manager communication: [formal, variance-focused, forward-looking]
Sales team communication: [practical, displacement-focused, simple language]
Option A: Use the Configure tab (recommended for more control) Click "Configure" at the top.
Fill in each section:
[Hotel Name] Revenue AssistantRevenue management assistant for [Hotel Name]. Knows our comp set, pricing rules, market dynamics, and reporting formats.Conversation starter suggestions:
Open your new Custom GPT and run three test prompts:
Test 1 — Rate context:
What are our rate floors, and when do we apply MLOS restrictions?
It should answer from your property knowledge document accurately.
Test 2 — Competitive positioning:
If our main comp (use one of your real comps) drops rate to $129 for a Friday, should we match?
It should factor in your positioning philosophy, not give a generic answer.
Test 3 — Report draft:
Draft a 150-word GM weekly summary. RevPAR: $142, budget $135, comp set avg $128. Occupancy 87%, budget 83%. ADR $163, budget $163. Key driver: convention center event drove 3-night pickup surge midweek.
It should produce a property-specific narrative, not a generic hotel performance summary.
When your market changes — new supply opens, you revise your comp set, rate floors shift — update your GPT:
Set a calendar reminder to review and update your Custom GPT quarterly.
Quick rate decision:
Should I adjust rate for [date]? Current rate: $[X]. Comp set average: $[X]. Pickup pace: [X]% of forecast. Days from arrival: [X]. Any relevant context: [X].
Sales team communication:
Write a quick note to the sales team explaining why we're not taking group business below $[X] for [month]. Keep it simple — they don't know revenue management jargon.
Stakeholder email:
The GM just asked why we held $[X] rate on [date] when occupancy came in at [X]%. Write a 3-paragraph explanation using our rate strategy rationale.
Event impact pre-analysis:
[Event name] is happening [dates] with estimated [X] attendees. Based on our market profile, what's the likely demand impact on our property, what rate strategy do you recommend, and how far in advance should we set restrictions?
SOP documentation:
Write a standard operating procedure for how we handle [specific pricing scenario — e.g., "rate floor exceptions during distressed inventory"]. Base it on our pricing philosophy and rate floors. Include decision criteria and approval steps.