WhatWhat is Hotel Revenue Management?
Revenue Management is a hotelier’s term, used to describe the process by which performance analytics are used to predict online guest behavior in order to provide actionable data which can inform and optimize a hotels pricing and distribution strategy.
Revenue management was pioneered by the airline industry and in basic terms, means selling the right room to the right guest at the right place on the right channel. Experienced revenue managers like The Percentage Company, can forecast and anticipate demand to optimise availability and pricing to lower guest acquisition requests and maximize hotel revenues.
WhyWhy is Revenue Management important for hotels?
Small hotels and independent properties often do not have the necessary financial resources to employ an experienced revenue manager and therefore are at a competitive disadvantage versus larger resorts.
Small hotels and independent properties often do not have the necessary financial resources to employ an experienced revenue manager and therefore are at a competitive disadvantage versus larger resorts.
The power and strategic importance of an effective revenue management and online distribution strategy should not be underestimated, here are some of the core benefits:
WhatWhat is our approach to Hotel
Revenue Management?
The Percentage Company shares the same goal as hotel owners and operators: revenue maximization, and revenue management is one of the best ways to achieve that goal. Central to revenue management is the ability to set the right rates for the right dates, which is done with a combination of statistical and market analysis.
We implement fully customized and dynamic demand-based pricing strategies and rate structures for hotels using software driven algorithms. Our creative but disciplined approach to revenue management, is proven to improve hotel yield and drives impressive results using statistics to highlight demand trends which then inform the overall pricing strategy, which identifies the optimal rates.
However, revenue management is about more than just setting rates, experienced revenue managers should ensure channel distribution limits guest acquisition costs while increasing booking volume, RevPAR and GopPAR. Revenue decision making should consider competitor intelligence, historical data, market trend analysis, long term growth objectives, while simultaneously focusing on increasing relative market share, margins and maximizing direct bookings. This can be the difference between profit and loss for a hotel.
WhyWhy work with TheThe PercentagePercentage Company?Company?
The Percentage Company is a one-stop-shop revenue management consulting agency for hotels based in Phuket Thailand. We are direct booking and revenue growth specialists and we create and deliver customized and effective revenue management outsourcing services which accelerate growth and help increase your top and bottom line results.
Business Development is in our DNA, why not contact us to see how our experienced and proven revenue managers can help improve your hotels profitability?
Check out some of our Hotel Revenue Management case studies below
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For many years, our team of revenue managers and online digital marketing experts have helped clients in Thailand & around the world give their hotel brands a unique & empowering overhaul to turn them into super-charged game-changing businesses.
Are you curious how much more revenue your hospitality business could be generating with the right revenue management, digital marketing & technology systems and strategies in place? Ask us about our highly affordable full hotel marketing solutions, with zero fixed-fees to pay! Get your FREE no-strings-attached Proposal and lets take your hotel to the next level.