{"id":23115,"date":"2009-10-06T09:45:55","date_gmt":"2009-10-06T09:45:55","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/revenue-management-strategy-plan-step-9"},"modified":"2024-12-24T09:49:23","modified_gmt":"2024-12-24T09:49:23","slug":"action-steps-9","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/revenue-management\/revenue-management-book\/action-steps-9","title":{"rendered":"Revenue Management Strategy Plan &#8211; Step 9"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:calc( 1200px + 0px );margin-left: calc(-0px \/ 2 );margin-right: calc(-0px \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:0px;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0px;--awb-width-medium:100%;--awb-spacing-right-medium:0px;--awb-spacing-left-medium:0px;--awb-width-small:100%;--awb-spacing-right-small:0px;--awb-spacing-left-small:0px;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><div style=\"text-align: justify;\"><span style=\"font-size: 12pt;\">How do consumers look at my hotel vs. the competition? You need to create some tools to define the difference between your hotel and your competitive set. Check out step 9 in our <a href=\"\/\">revenue management<\/a> strategy plan&#8230;.<\/span><\/div>\n<div><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 12pt;\">Step 9 of our yield and <a href=\"\/en?p=848\">hotel revenue management<\/a> strategies implementation plan exists of the following:<\/span><\/div>\n<ol>\n<li>Value how consumers understand and appreciate the Quality and Experience staying in your hotel versus those of your competitors.<\/li>\n<li>Perform periodic check of your competition value. Develop a checklist to evaluate and compare your hotel to your competitors thanks to a Price\/Value Matrix.<\/li>\n<li>How can you differentiate better your hotel? Challenge your positioning in terms of pricing and value. Do you target the right clientele in terms of revenue development? Could you target higher spenders? What would be the improvements and changes needed?<\/li>\n<li>Anticipate the strategies of your competitors. Can you identify changes in the value they deliver? Does that match the clients&#8217; expectations?\n<div><\/div>\n<\/li>\n<\/ol>\n<\/div><div class=\"fusion-text fusion-text-2\"><p><div class=\"fusion-button-wrapper\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-1 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"\/en\/revenue-management\/revenue-management-book\/distribution-benchmarking\/\" id=\"buttonemail\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Previous<\/span><\/a><\/div> <div class=\"fusion-button-wrapper\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-2 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"\/en\/revenue-management\/ebook-revenue-management\/\" id=\"buttonemail\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Book Index<\/span><\/a><\/div> <div class=\"fusion-button-wrapper\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-3 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"\/en\/revenue-management\/revenue-management-book\/market-penetration-index\/\" id=\"buttonemail\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Next<\/span><\/a><\/div><\/p>\n<\/div><div ><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-4 fusion-button-default-span fusion-button-default-type\" style=\"--awb-margin-left:+1.5%;\" target=\"_self\" href=\"\/en\/subscribe\/\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Subscribe to Our Blog<\/span><\/a><\/div>\n<\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<div style=\"text-align: justify;\"><span style=\"font-size: 12pt;\">How do consumers look at my hotel vs. the competition? You need to create some tools to define the difference between your hotel and your competitive set. Check out step 9 in our <a href=\"en\/hotel-revenue-management\">revenue management<\/a> strategy plan&#8230;.<\/span><\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[189],"tags":[],"class_list":["post-23115","post","type-post","status-publish","format-standard","hentry","category-revenue-management-book"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Revenue Management Strategy - Hotel Action Plan - Step 9<\/title>\n<meta name=\"description\" content=\"How to differentiate your hotel and price accordingly. Check out step 9 of our hotel revenue management strategy implementation plan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xotels.com\/en\/revenue-management\/revenue-management-book\/action-steps-9\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revenue Management Strategy - Hotel Action Plan - Step 9\" \/>\n<meta property=\"og:description\" content=\"How to differentiate your hotel and price accordingly. 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