What does revenue management mean?

Whether you are in the pre-opening phase or you want revenue management to become part of your existing business, correctly implementing revenue management from the beginning is essential. Crucially, it needs to be tailored to the needs of each individual hotel. Factors such as your target group, location and market demand generators are all vital parts to consider when implementing your revenue management strategies.

We will navigate a well-designed process together to make sure we get it right from the beginning. To begin with, we need to understand your hotel’s processes and needs, before evaluating the competition in order to position your hotel correctly in the market.

Moving forwards with segmentation and strategies, we provide you with the necessary tools, knowledge and processes to execute these and reach your targets.

We will continue to monitor your performance

and offer follow up coaching to make sure things are

moving in the right direction.

Revenue management is the application of disciplined analytics that predict consumer behaviour at the micro-market levels and optimize product availability and price to maximize revenue growth.

What is revenue management How does it work?

As a strategy, revenue management allows businesses to adopt a data-driven approach to decisions on what to sell them. It is a way of ensuring that informed decisions are made and your business does its best to drive revenue upwards, while selling the same amount of products and services as before.

What are the elements of revenue management?

Here an overview of the basic elements and ingredients you need to apply effective hotel revenue management: Market Segmentation. Historical Demand and Booking Patterns. Demand Forecast and Displacement Analysis

What is the goal of revenue management?

Revenue management helps to predict consumer demand to optimize inventory and price availability in order to maximize revenue growth. The purpose of Revenue Management is not selling a room today at a low price to sell it tomorrow at a higher price.

For Revenue management Consulting service please contact us at +201555559152