The core approach to revenue management is to optimize the turnover of your hotel’s inventory at the optimal price. And by inventory, we mean everything you sell to a guest, including rooms, food & beverage (F&B), spa & wellness, a golf course if you have one, special events, and even car parking if you charge for it.
Hotel revenue management is a strategic discipline focused on controlling and optimizing all sources of income. At its core, it’s about maximizing profitability by expertly managing sales, pricing, and marketing, all based on a deep understanding of market data.
The Core of Hotel Revenue Management
Effective revenue management goes beyond just filling rooms. It involves a holistic approach to key revenue streams, including:
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Room Rentals: The primary source of income, from individual guest rooms to suites.
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Meeting & Event Spaces: Revenue from corporate events, weddings, and conferences.
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Ancillary Services: Income from on-site restaurants, bars, spas, and other amenities.
By skillfully managing these areas, hoteliers can ensure they are making the most money possible from their assets.
