Revenue Management

Revenue Management
is to sell the right product to the right customer at the right time or the right price.
…How can a hotel determine what that “right price” should be?
Setting the “right price” is a challenging, never-ending process that is crucial to a hotel’s success.
Pricing should be rational and fair to customers. It should address differences in customer demand and segmentation across regions, hotel types and seasons and contribute to overall customer loyalty.
It should target specific customers and offer them the best possible price/value relationship for their money.
In addition, a hotel’s pricing strategy should help increase revenue.