Today's Revenue Management thought:-
Last-minute cancellations and no-shows are inevitable; they are our nightmares.
Empty rooms always have a significant negative impact on the profit margin.
However, there’s always a fix.
Either you bear this revenue loss or find some other way to retain it.
However, most of the time, it is tough to replace such last-minute cancellations or no-shows with another reservation.
We all know that at the end of the day, it all boils down to implementing successful strategies.
Have a profitable week.
✌🏼