Article: Revenue Management: Key Indicators for Success August 19th, 2013
Please read the article by our VP of Revenue Management Ira Vouk at the InnTouch forum:
Why does revenue need to be managed? Seems like a rhetorical question, but not all hotels realize the necessity and importance of managing revenues and paying enough attention to these tasks.
Today, the hospitality market presents a high level of uncertainty. The demand is constantly changing, the market is dynamic. Besides, customers are now equipped with a wide range of tools with which to navigate hotel inventory and find deals that don’t always contribute to the hotels’ revenue growth (i.e. numerous OTA and aggregator websites, allowing customers to compare room rates, discounted opaque websites, mobile apps, etc.).
In order to be able to respond to this challenge and not get lost in constantly-changing market conditions, every single hotel needs to realize the necessity of adequate daily Revenue Management.
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