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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NEW HOTEL SALES CHANNEL

NEW HOTEL SALES CHANNEL

WIWT sells hotel rooms via Social Media.

WIWT sells hotel rooms via Social Media.

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About the Author: Patrick Landman

As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. XOTELSยด diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Below you will find opinion articles written by Patrick Landman.