Revenue Management Strategy - Action Steps by Xotels

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Hotel Revenue Management Action Steps 7

Monday, 01 February 2010 00:00

Are you tracking your pick-up trends per segment, channel, account? What steps do you need to take to gather quality data to make better revenue management decissions for your hotel? Step 7 in our revenue management plan...

Step 7 in our strategic hotel revenue management action plan is:

Develop pick up tools on specific sources of business: channels, top accounts, segments
Search for qualitative information when meeting clients to build your forecast trends.
Depending of the size of your hotel, involve team members in the forecasting process i.e. group forecast performed by the group sales manager.
Ensure your on the books is correct with systematic checks when building your forecast.
Decide of the level of details of your day by day forecasting tool: total hotel, room nights, ARR, by segments, total revenue.

For more information on how to implement yield strategies in your hotel click here: revenue management.

Cheers,

Patrick - Xotels