Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth.
Now, more than ever, revenue management is the cornerstone of running a successful and profitable hotel. The growth of data that’s now readily available as well as the ways to track and analyse it provides a wealth of new opportunities for your business to turn a profit.
This can only be done by measuring and monitoring the supply and demand for your hotel rooms. It involves the use of data and analytics to help you keep track of supply and demand so you make predictions on consumer behaviour. This then allows you to make informed decisions on what accommodation to promote to the right client, at the right time, with appropriate pricing through the most suitable distribution channel.
After setting our goals and expectations for each period, it is our job to come up with the way for you to achieve a steady flow of reservations. This includes daily monitoring of the property’s pricing position, proper channeling and making all necessary adjustments.