{"id":23123,"date":"2009-10-06T11:23:54","date_gmt":"2009-10-06T11:23:54","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/revenue-management-action-steps-1-2"},"modified":"2024-12-24T08:26:03","modified_gmt":"2024-12-24T08:26:03","slug":"action-steps-1","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/revenue-management\/revenue-management-book\/action-steps-1","title":{"rendered":"Revenue Management Action Steps 1"},"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\"><p><span style=\"font-size: 12pt;\">Based on the previous articles on the definition, fundamentals and culture of <a href=\"\/\">revenue management<\/a> we have defined a few simple action steps for hotels.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Here are your first <a href=\"\/en?p=848\">Revenue Management<\/a> action steps:<\/span><\/p>\n<ol>\n<li><span style=\"font-size: 12pt;\">A <span style=\"text-decoration: underline;\">Yield meeting<\/span> should be organized once a week with the <a href=\"\/en?page_id=4546\">revenue managers<\/a> and relevant decision-makers in the hotel: agree on the same vision on how demand will evolve first.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">Develop <span style=\"text-decoration: underline;\">culture<\/span> of <a href=\"\/\">hotel revenue management<\/a> in your hotel: anyone should understand REVPAR, anyone should understand the reasons of saying <span style=\"text-decoration: underline;\"><strong>NO<\/strong><\/span> to some business, and everyone should sell not only a price but also a value.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\"><span style=\"text-decoration: underline;\">Record statistics for knowledge based decisions<\/span>. Train your team for recording properly reservation information. Keep consistent records of your data: reservations on the books, waitlist, denials, walk out, cancellations, offers. Everything can be relevant to your hotel revenue management decision-making.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">Do you know all <span style=\"text-decoration: underline;\">options and reports available<\/span> in your PMS &amp; distribution software?<\/span><\/li>\n<\/ol>\n<p><span style=\"font-size: 12pt;\">At the end of this series of articles, all the action steps will give you a strategic plan to implement <a href=\"\/\">revenue management<\/a> in your hotel and start <a href=\"\/en?p=126\">increasing revenue<\/a>.<\/span><\/p>\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\/revenue-management-culture\/\" 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\/revenue-management-ingredients\/\" 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":"<p><span style=\"font-size: 12pt;\">Based on the previous articles on the definition, fundamentals and culture of <a href=\"en\/hotel-revenue-management\">revenue management<\/a> we have defined a few simple action steps for hotels.<\/span><\/p>\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-23123","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 Action Steps 1 - Implementation Plan<\/title>\n<meta name=\"description\" content=\"Revenue management action steps. 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