Revenue management is an extremely important concept within the hospitality industry. Selling the right room, to the right client, at the right moment, for the right price, through the right distribution channel, with the best cost efficient.
As market conditions change daily, we re-evaluate the variables involved in daily basis in order to move dynamically with the market. We make more informed, data-driven decisions regarding pricing and distribution on daily basis with ultimate goal to maximize revenue. We use past and current performance data and analytics, to evaluate the inventory, the demand, the current market conditions and competition, to identify trends and consumer behaviors.
Our formula consisted of:
- Market Analysis
- Competition intelligence
- Past and current years data collection and analysis
- Revenue Forecasting
- Positioning
- Dynamic Pricing on daily basis to maximize occupancy/ADR and revenue
- Strategic Pricing Decisions based on Supply and Demand
- Managing the E-Commerce Channels