But, do all Hotels need specialized Revenue Management?
If the answer to the questions below is “Yes” then yes, You need it.
– Has your competition – internal and external – increased dramatically?
– Do you ignore the evolution and progress in analysis and forecasting sales techniques?
– Do you choose ’empirical’ administration rather than technocratic?
– Are online rate changes handled by you, or your hotel manager, or reservations manager, or reception staff … alongside your/ their substantial work?
– Do you think Revenue Management is only about changing prices?
– Do you consider that availability controls are solely in the responsibility of the reservations department?
– You do not have an overbooking strategy because the reservations department is afraid of over-bookings?
– Do you check the prices of the competition, at best once a week?
– Do you decrease your room rates almost whenever the hotel next door has “dropped” its prices?
– Do you rush into blocking – almost – all your hotel’s availability in order to book a group?
– Do you think you have to give a low price to the group without counting how much money you lose from the transient bookings that you will have to turn away?