By strategising with the team and documenting the revenue strategy a hotel is setup to ensure that the hotel looks out into the future and creates a long term measurable path for success.
Revenue Strategy for Accommodation Suppliers
A revenue strategy is critical to the success of a hotel’s revenue management philosophy. A revenue strategy allows the entire revenue team to discuss, strategise, and understand what the goals are for the hotel and how to work towards these goals. It is also critical that the strategy is put into writing. By strategising with the team and documenting the revenue strategy, a hotel is set up to ensure that the hotel looks out into the future and creates a long-term measurable path to success.
- To understand how to create a successful revenue strategy;
- Different revenue strategies explained
- The fundamental elements in effectively communicating a revenue strategy;
- How to implement a revenue strategy once it has been created;
- To understand how to measure the success of the revenue strategy once it has been implemented.
- Inventory Control: how inventory can impact sales. If forecasting constraints, monitor to ensure controls do not have too significant an impact and adjust strategy where necessary and why revenue managers might withhold inventory