How can you measure the results of your revenue management strategy? Which KPI’s or Key Performance Indicators should you use?
Based on the previous articles on the definition, fundamentals and culture of revenue management we have defined a few simple action steps for hotels.
Revenue Management is more than technique for creating prices. It is a philosophy and a culture that must be implemented throughout the hotel.
In this first article we will go over the definition of what is revenue management in the hotel and hospitality industry. Additionally we will be covering the fundamentals of revenue and yield management.
Xotels has published all 12 chapters of its revenue management book for hotels, ‘Leadership in Revenue Management’ for free on its blog. It is a hotel yield management manual both for beginners and advanced, covering a wide spectrum of topics.