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.

Process Establishing Seasonality When determining seasonality for a property, it’s very important that seasonality be evaluated for each segment: Transient, ..

Process Establishing Seasonality

Seasonality
Seasonality: Resort Pricing Guidelines is defined as a pattern of seasons that repeat themselves predictably over time.  Seasons are periods of time during....

Seasonality: Resort Pricing Guidelines

Establishing Room Rate is a combination of science &art Be Aware Establishing Room Rate For Business Hotel, Not Same as for Establishing Room Rate for Resort

Establishing Room Rate

BeanchMark
Benchmark Rate A hotel needs to develop a pricing strategy for both its transient and its group business. While the benchmark rate is the main price point f

Benchmark Rate

Booking Pace
Booking Pace Report One of powerful tool for Revenue Management Simply how OTB: On the Books performance/speed looking forwards compares to same time last year

Booking Pace