Revenue Management: An insightful conversation with RevControl!

What is revenue management

In short: Revenue management is about making sure you get the most out of your available hotel rooms every day.

How far has revenue management progressed in the hospitality world?

This depends on section to section in the hotel world. The larger, international chains are already much more advanced in terms of automated revenue management. In the smaller chains and the individual hotels, revenue management has not yet progressed that far. It certainly changes from country to country.

How has revenue management evolved?

If you look, for example, at the industry where revenue management was actually born, the airlines, it has been a common good for a while now. In that industry, consumers have already fully accepted that every seat in the aircraft is sold at a different price. This was not yet the case at the hotels a few years ago, but consumers are now beginning to realise that this is possible.

"It is interesting for every hotel to do revenue management."

Edwin Leenheer, RevControl

What are the benefits of revenue management?

The prices are visible on the internet for a whole year in advance. As a hotel you really have to make sure that you are always well priced. Otherwise, you are doing yourself a disservice because people can book too cheaply, or, you might be doing yourself a disservice because you are too expensive and therefore get too few reservations. A hotel manager can't analyze 365 days every day, he doesn't have the time. A revenue management system takes that part out of your hands, so that you are always correctly priced.

Want to start with revenue management?

Do you want to start with revenue management and look for an RMS (revenue management system)?

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