Today's Revenue Management thought:-

We all know that hotel revenue management is:

• selling the right room

• to the right guest

• at the right time

• and at the right price

• on the right platform

How many can truly place a tick ✓ efter each of the above and say they are accomplishing this.

When a hotel’s revenue, operations, sales & marketing departments in unison are able to implement a successful strategy, which encompasses all of the above, they will find that they are able to:

• understand and predict a guest’s demands

• win against competition

• apply room rates with confidence

• and generally expand their business.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

That old saying, “What doesn’t get measured, doesn’t get done,” holds true.

Be sure you have your finger on the pulse of what’s happening so you can not only track and understand, but also predict and update.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Be aware of your market.

Revenue management is not a desk job.

You need to understand the dynamics & influences that affect your operation and you must use that information to better your rates and strategy.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

In tough times, hotels hunt for new sources of profitability and growth, frequently ranging far beyond their traditional offerings (thinking out of the box).

Yet by doing so, many overlook opportunities for generating sales from services they’re already giving customers for free.

Sometimes it makes sense to stick with a free model, hotels however too often make that the default option.

That’s a costly mistake.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Revenue management is about capturing as much value as you possibly can.

Every guest has a maximum value they can offer your hotel.

You can capture this value relatively simply by convincing the guest to:

• Book directly on your website

• Becoming a returning guest

• Enticing your guests to purchase up-sells or extras

When guests feel that they are getting maximum value for their hard earned money, it’s with very high certainty that they will be willing to spend more.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

What are you going to do to make today awesome !

Yesterday can only get jealous.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Profit is a condition of survival.

It is the cost of the future - the cost of staying in business.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

You can reduce a price only when you charged enough to begin with.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

The most important aspect of pricing is “value.”

The price a customer is willing to pay, and therefore the price a company can achieve, is always a reflection of the perceived value of the product or service in the customer’s eyes.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Price and value are one and the same.

Revenue Managers have three tasks:-

• Create Value

• Communicate Value

• Retain Value

Have a profitable week.

✌🏼