Revenue Management
We work with hotels, defining a variable pricing strategy by market segment, based on understanding, anticipating, and influencing customer behaviour. We will review your current strategy in full, obtaining a clear understanding from you as to the tactics which have been applied to-date. We will monitor supply and demand and gain a clear understanding of customer behaviours by market. An analysis of your competitive set will also form part of the review.
Following an in-depth review, a clear plan will be set in place. Both sales and marketing and the revenue function must be interlinked if we are to successfully influence customer behaviour. Having collected data on customer behaviour, it is important that this data is utilised when initiating any marketing initiatives.
Only through a cohesive and joint approach will a hotel actively achieve growth by market segment. Also, through combined and joint activity a hotel can also bring about reduced costs as marketing initiatives are being undertaken at the right time and for the correct duration.
How We Can Help
We can form part of your revenue strategy on an on-going basis, developing:
The key to Revenue Management is planning – understanding what sales and marketing activities to undertake and when. Constantly monitoring the movement of your rooms and applying a purposeful well thought out action as a reaction to any significant movement which could hinder your ability to generate revenue.
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