How far in advance do people start to book the hotel? When does the booking pace increase? Are we ahead or behind on last years or last months trend? What revenue management action steps to take so you answer these questions easily.
Step 5 in our revenue management strategies and action plan is:
- Develop your macro and micro pick up studies (month and day by day) to recognize exception. Can your revenue management efforts identify any Hot and Cold periods?
- Decide of the level of details: total hotel, pick up by segments.
- Develop pick up studies on ARR per segments.
- Check on linking your pick up tool to your forecast tool in order to create an automatic forecast.