Hotel Revenue Management Action Steps 3

We have to start with a budget or forecast before we consider working on our pricing. But how do we forecast accurately. Here some hotel revenue management implementation action steps to help you out.

 Step 3 in our Revenue Management implementation plan:

  1. Develop and update your demand calendar for any recognized exceptions.
  2. Implement day by day budget, by segment with room nights and average selling rate.
  3. into action a rolling forecast to keep 12 or 13 months day by day rate strategies open on all your public distribution channels.

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