Revenue Management Outsourcing is the New Trend
Just over a year ago we wrote an article announcing the increase in outsourcing specialist areas in hotels like Revenue Management. In the aftermath and recovery from the global economic crisis the eyes of real estate investors and hotel owners should have been opened acknowledging the need for structural change. We would like to benchmark our insight from last year against a recently published survey of Cornell University by Sheryl Kimes titled the Future of Hotel Revenue Management.
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Revenue management will expand its role within hotels from a focus on room revenue only and will also cover areas like F&B, meeting rooms, groups, catering, spa, golf, parking, mini bar, etc. Measurement of resutls will change from REVPAR to GOPPAR and TotRevPar. Revenue management will not only cover more revenue generating and operational departments, but will also become a driving force behind marketing, budgeting and property design.
The new role of revenue management requires a more sophisticated background and profile. We have noticed in 2010 that investors and owners are acknowledging the fact that more expertise is needed to generate a competitive level of ROI on their properties. The demand for revenue management outsourcing has clearly increased.
For more information click here: Revenue Management Outsourcing.
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About the Author:
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.
