Are you tracking your pick-up trends per segment, channel, account? What steps do you need to take to gather quality data to make better revenue management decisions for your hotel? Step 7 in our revenue management plan…
Step 7 in our strategic hotel revenue management action plan is:
- Develop pick up tools on specific sources of business: channels, top accounts, segments
- Search for qualitative information when meeting clients to build your forecast trends.
- Depending of the size of your hotel, involve team members in the forecasting process i.e. group forecast performed by the group sales manager.
- Ensure your on the books is correct with systematic checks when building your forecast.
- Decide of the level of details of your day by day forecasting tool: total hotel, room nights, ARR, by segments, total revenue.