Proper yielding is critical to maximize a hotel’s room revenue. If you want to increase your hotel's room revenue, then you need to follow a structured revenue management plan. This is done through a technocratic approach that help hotel owners to forecast demand and revenues in order to optimize revenue per available room.
This process requires quantitative and qualitative research, which will take into account a number of factors:
Historical data of reservations during the past two years.
Demand data and competition set behaviour.
Hotel's unique selling points.
Customers’ profile characteristics.
Our team, with excellent numerical and analytical skills and significant experience in the hotel industry, can become the necessary outsource professional partner who will guide you effectively in shaping the revenue strategy.
To implement it we utilize a series of advanced tools, revenue management methods & efficiency indicators, which enable you to increase the revenue of your hotel business.
Our activities for the revenue management service include:
The revenue strategy starts with a revenue audit. That includes historical data analysis such as sales per month, per room type, per channel and lead time. In addition, we will evaluate the current position of the hotel based on a value analysis. Going forward, we will format the pricing structure, the market mix and the forecast and budget for the upcoming year.
Revenue Strategy implementation
This is the most critical pillar of revenue management. It is a dynamic process that requires frequent monitoring and reporting of KPI's such as ADR, RevPar, Pick Up, and many more.