Use Past, Present and Future Data in Your Revenue Management
What should revenue managers base their decisions on? At the core, Revenue managers must base their decisions on data.
Potential guests are easily overwhelmed when they’re visiting dozens of websites and looking at hundreds of hotels. When they get to your website, ensure that it’s different. Make your website a haven of carefully-selected images, content and rate plans.
Focus your hotel’s online activities completely on clarity and data-driven decisions. No matter how chaotic the rapid changes in the industry may seem, revenue managers need to hold onto their minds and stick to the data.
Remember to look at your day to day data, covered in this presentation, in the larger context of your hotel. By this, we mean putting it in the context of your segments and target markets, your hotel’s overall revenue strategy (are you trying to grow your direct bookings?), and your ultimate goals.
We’ve made a presentation to sum up 6 of the most important ways to use data. We focused on:
- Net Gain per Channel
- Historical Data
- Pace Reports
- Booking Windows
- Channel Performance
To get all the details, check out the presentation below.