Revenue Management Action Steps 1

Based on the previous articles on the definition, fundamentals and culture of revenue management we have defined a few simple action steps for hotels.

Here are your first Revenue Management action steps:

  1. A Yield meeting should be organized once a week: agree on a same vision on how demand will evolve first.
  2. Develop culture of Revenue Management in your hotel: anyone should understand REVPAR, anyone should understand the reasons of saying NO to some business, and everyone should sell not only a price but also a value.
  3. Record statistics for knowledge based decisions. Train your team for recording properly reservation information. Keep consistent records of your data: reservations on the books, waitlist, denials, walk out, cancellations, offers.
  4. Do you know all options and reports available in your PMS & distribution software?

At the end of this series of articles all the action steps will give you a strategic plan to implement revenue management in your hotel.

Previous Page Next Page

Amsterdam - Bangkok - Barcelona - Brussels - Dubai - Jakarta - London - Miami - New York - Paris

Xotels Ltd., Zandvoortselaan 10, 2042 XA Zandvoort, The Netherlands
Chambers of Commerce, Haarlem - the Netherlands, Nr: 34 24 13 54

Our Partners: HotelScienz - Veturi Hotels - Vojo-Ventures - Rimedo - Kabano Rentals

Aggregated Rating Score