Beating the rush
Beating the rush: move towards more sophisticated revenue management systems will help hotels make money from booking trends
Revenue management for hotels has always been a tricky business, simply because of the huge number of factors which need to be taken into account - location, season, hotel facilities, customer profiles… Today, this is even more complex, with increasingly demanding guests and the ease of online comparison tools. Now, instead of just managing capacity, hotels are staying one step ahead of the game by actively looking for ways to increase their revenue, based on booking pattern forecasts.
By using price management techniques, hotel rooms can be filled at the most profitable price according to learned demand patterns. Using historical booking records and future booking data, forecasting models can increase a hotel’s revenue by up to 5%, making intelligent rate and inventory recommendations.
A customer-centric revenue management system is critical for the hotel industry. Amadeus believes that it is not just about matching rooms to people, but about matching a hotel’s entire operations to the expectations of a single person. Those hotels that can do this will be able to unlock real value, both for themselves and for the customer.
Amadeus has recently developed a spotlight paper outlining its vision of Revenue Management, including some valuable contributions from hotel experts from TAJ Hotels, Center Parcs UK and Delaware North Company. You can download a copy by clicking here.
If you would like to speak to Amadeus further about revenue management, please contact :
Jorge Muñiz, Global Communication Manager, on firstname.lastname@example.org