Revenue Management Strategies for the Hospitality Industry
On today dynamic marketplace REVENUE MANAGEMENT is crucial in any hotel. It involves the use of analytics and performance data to help you predict your customers' behavior.
The data is then utilized to make appropriate decisions in regard to pricing and distribution strategies. The ultimate goal of revenue management is to have the right room for the right person at the right time and place and with the best commission benefiting the hotel.
When this occurs, your hotel will be more likely to maximize your revenue, and in turn, your profit.
Dynamic Pricing Strategy
Increase Direct Booking
Manage Sales Channels
Manage OTAs
Create Hotel Packages with additional services
Create Loyalty Programs
Measurements and Results
Reporting and Improvements
- How can I improve hotel revenue during low occupancy periods?
For independent hotels it is key to create the adequate action plans and strategies with proper anticipation to minimize damage and to achieve objectives. We help you to assure revenue growth even in the low seasons by finding a balance between pricing, demand, and hotel availability. We deliver in-depth local knowledge from a global perspective based on competitive analysis, price positioning, and market segment penetration.
- How do I get the most revenue out of my market?
We deliver in-depth local knowledge from a global perspective based on competitive analysis, price positioning, and market segment penetration. Odentio hotel experts have a credible track record in all major international tourism destinations. We will provide you with travel trends, benchmarked reports, market segments, and key performance indicators.
- How do I keep my hotel occupancy and rates from dropping?At Odentio, we specialize in maintaining optimal hotel occupancy and rates. Our approach involves implementing a strategic pricing strategy that finds the perfect balance between prices, demand, and hotel availability. We offer comprehensive reporting that provides instant insights into your hotel portfolio's performance, empowering you to make informed daily rate decisions and maximize revenue.