Today, many traditional aspects of marketing have moved to revenue managers who are tasked with determining the right channel and price to sell inventory. But there are other trends that are changing the face of revenue management.
“What we want to be doing is opening our doors and welcoming people, and we really have a dilemma as to how we manage that at the same time as protecting people.”
I was recently speaking to the owner of a small hotel and he raised an important question, which set me thinking. He was a big fan of excellence frameworks such as the EFQM Model but felt that they were somewhat complicated for a small business such as his.
Given that I am hotel guy, I thought about the Southwest model in the hotel industry. Imagine three rates: advanced purchase; regular rate; and then a premium rate that includes Wi-Fi, breakfast, minibar, gym and late check out.
If you are one of the ambitious hoteliers considering an independent route–congratulations and get ready to surround yourself with some serious energy, ferocious attention to detail and relentless focus. Below are a few thoughts that may be helpful along the way:
This article will provide some tips on ensuring that you manage your rates from a position of strength for both a short term and long term pay off.
Everyone who works in a hotel has their particular job and sticks to what they do best. But everyone, at some point, touches the guest and has the ability to shape his or her experience. Therefore online reputation management has got to be a team sport—hotel managers should strive to get everyone involved, experts say.
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