Steps For Revenue Management - Juan Antonio Manrique Long Beach CA

Step For Hospitality Revenue Management

What is Revenue Management ď‚— The revenue management is a commercial management

technique that provide the helps to use to sell the right product at right time at the right place to the right customers.

Why Use Revenue Management?  Increased the competition  Increase the channel of distribution  Transparency in prices  Increase the social promotion and discounts  Decrease in expected response time to clients  80% of sales are influenced by online channels

Steps Of Hospitality Revenue Management  They are consider the various steps for hospitality revenue

management such as:  Technology integration capabilities  Data processing power  Channel management and optimization

Technology Integration Capabilities ď‚— Hotels, resorts and other lading properties have always had

extensive technology integration requirement. The revenue management solution especially cannot the treated as a stead lone application. It needs to integrate with the multiple data stream, starting with the hotel property management system to provide the unified booking, analytics and reporting about it.

Data Processing Power ď‚— In this step, the hotels are importing increasingly the large

volumes of data into their pricing models. For a big property the data set my includes dozens for customers segments, a dozen or more room types and the several years of historical booking and reservation data.

Channel Management and Optimization ď‚— It is a imperative that rates and inventory information gets

updated as quickly and with as few errors as possible across all the OTA and other distribution channel. An important buying consideration therefore is the extent to which the room change and update are handled automatically rather then manually and what the average lag time is to implementing the channel updates.

Tips for Revenue Management  Offer better Value  Focus on social media  Select the right channels  Prioritize your website  Stay informed

Advantages for Revenue Management  Increase the business and profit  Enhanced coordination between the front office and sale

divisions  Improved the development of short term and long term business plan.  Saving the labor costs and other operating expenses

Who I Am.. ď‚— Juan Antonio Manrique Long Beach CA is a successful

business man who provide the help in hospitality revenue management and sales, marketing.