I was recently asked by a revenue management coach & consultant, whom I regularly do business with, for an interview.
She presented me with three questions about the current state and the future of hotel revenue management. What follows are her questions and my thoughts on the subject.
We have written a lot about hotel revenue management over the last few years. It seems a good time to make a short list with the components that are crucial to your revenue management strategies.
Again in 2014 we have published some articles very popular with our revenue management fans. What really struck a chord? Check out our most read hotel blog list and rankings for this year.
Over the past years we have writen many articles about pricing strategies and techniques. Just reading up on the topic myself, I thought it would be useful to compile all of them in 1 single page of reference.
I would like to share with you the hotel marketing success story of 3 of our hotels for which we have been working hard to push direct sales this year. The hotels are in completely different categories, demonstrating that if you work hard and have a focused strategy, you can generate a good level of direct sales, and divert business from OTA directly to your hotel website.
After publishing many articles online, we have now also compiled all the information into a FREE Revenue Management PDF Handbook. The Xotels Revenue Management Manual is an introduction to revenue management in the hotel and hospitality industry, and is a reference for both starting and experienced revenue managers.
After 1 year of hard work it is time to take stock and see what kind of progress we have made with implementing revenue management at 2 youth hostels in Paris. Looking at the current trend we are growing revenues by at least 10% year over year, we can definitely say this is a successful turn-around. How did we do it?