👉 The strategic process of optimising a hotel’s revenue by managing pricing, distribution, and availability.
📊 What is Revenue Management?
Revenue Management uses data analysis and strategies to sell the right room, to the right customer, at the right price, at the right time to maximise total hotel revenue.
🧮 Main Revenue Management Areas
- Price management (Pricing)
- Inventory and availability control
- Channel Distribution (Channel Management)
- Demand and competitor analysis
- Forecasting and planning
✅ Importance of Revenue Management
- Maximise hotel income and profitability.
- It helps optimise occupancy without sacrificing price.
- It allows you to respond quickly to changes in demand and market conditions.
- It is key to staying competitive in a saturated market.
📘 Practical example of Revenue Management
A hotel increases rates during peak season and lowers prices during off-peak to maximise yearly revenue growth by 8%.
