Revenue management strategies also for small hotels were never so easily implemented, like today. Why?
More and more property management systems allow a simple implementable “daily rate” or dynamic price strategy (and those who do not, should quickly understand what that means and offer it).
The incompetence of many property management systems in the delivery of useful reports and analyses for forecasts, earnings comparisons, booking behavior of different segments etc., is balanced through more and more simple revenue management and analysis tools. And more and more PMS need only a couple of weeks to offer the necessary interfaces. Simply pass on the PMS data to analysis or to the revenue management tool and learn a lot of things, that you would not have known through your best gut feeling.
Your guests are no longer surprised by the change of a pricing strategy, above all not if the new revenue management strategy is professionally communicated and established. All airlines offer their seats with a demand-based pricing strategy and many guests profit because they book long-term and fly two hours later. Car rentals, the Deutsche Bahn, cruise companies, musical theaters and more and more other service providers such as hairdressers, beauty salons and fitness centers have demand-based offers. At my hairdresser, the new cut with the senior stylist is the cheapest from Tuesday to Thursday between 8 am and 1 pm. And on Saturday, when I must look especially nice, I am glad, if I can get an appointment.
Because good revenue management or even a total revenue management strategy is the key to a strong profit growth without restructuring measures.
For this analysis, we take apart the data of your hotel software, of your channel manager and of your sales partner.
The effort for such a consultation project lies between 5 and 10 consulting days – depending on the hotel size and business type, as well as the starting position. The “return on investment” is as a rule quickly reached through the following sale improvements or also cost reductions:
Basic course revenue management for hotels and holiday resorts Revenue Management has many aspects to it, and works best in a team. Practical knowledge helps take away fears and makes one look forward to an exciting, profit optimizing project. This seminar can be done in one or two days and is a perfect starter, if […]
Common questions in regard to revenue management and online booking Are we too small for revenue management? The smaller a business, the more difficult it becomes to obtain appropriate revenues. Revenue management has the goal to improve revenues and future prospects through relevant rate- and sales strategies. Of course, the revenue management strategy must be […]
With one foot on the gas pedal – and the other on the break! The most common mistakes that hotels or holiday home complexes make in distribution. When the department ‘sales defense’ is active. Imagine that there are hundreds of room requests for next week, and your hotel is not bookable. This actually happens in […]
Do you like the content? Please share:
Gabriele Schulze Tel : +49 30 23137364