The industry has realised that revenue management involves far more than understanding graphs and spreadsheets. The industry has realised that revenue management involves far more than understanding graphs and spreadsheets.

Improve Your Revenue Management: Top Tips

  • Change: be prepared to transform the way your company operates because revenue management can only be successful if it is embraced horizontally and vertically by staff throughout the hotel organisation
  • Enable communication: think carefully about where to place your revenue management team within your organisation to best secure good communication between various departments
  • Foster engagement: ensure that your entire team is engaged with the strategy from the very start
  • Technology: embrace the new technology and ensure that its value is appreciated
  • Drive action: ensure your revenue management strategy has the ability to turn data analysis into actionable recommendations
  • Accountability: have a dedicated revenue manager in place
  • Training: revenue management is a relatively new and fast-moving discipline — something that should be reflected in an ongoing training programme
  • Explore other areas: widen your strategy to encompass a hotel’s food and beverage, conference, spa and health club operations
  • See it though: have a long-term strategy and stick to it
  • Evaluate: ensure that you respond to the constantly changing market

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On the Market: Revenue Management Technology

Micros-Fidelio

The Opera Revenue Management System uses historical and real-time data to analyse, evaluate and recommend price levels and overbooking limits. The system can take historical data from an existing PMS to make instant recommendations. It can also be used in conjunction with a rate shopping tool, adding real-time competitive data for selected segments.

Micros products are distributed by Key Information Technology in the Middle East.
Tel: (+971) 4 398 9999 (ext 300)
Email: saleshsd@kit.ae
Web: www.kit.ae


Ideas

The automated revenue management solution from IDeaS is delivered via software as a service (SaaS), requires very little infrastructure and is therefore a cost-effective solution. The system utilises pricing, forecasting and optimisation strategies to give hoteliers a clear view of their data.

The company says that its services will make an ‘immediate impact on revenue’.

Ideas distribution partner in the Middle East is Wide Computer Systems.
Telephone: (+971) 4393 4567
Web: www.ideas.com and
www.widesystems.com
Email: sales@widesystems.com

Total Revenue Solutions

Aiming to deliver “revenue management with personality”, TRS will be launching a new online platform in January called TRevOR. He (or it!) combines day-by-day segment forecasting, competitor monitoring and CRM capabilities. TRS also offers a range of remote revenue management systems which allows businesses to focus on their customer services and operations, while TRS advises them on potential pricing and commercial strategies.

Telephone: (+44) 07766 993253
Web: www.totalrevenuesolutions.com
Email: learnmore@totalrevenuesolutions.com

ResNet World

ResNet World focuses on internet marketing, website development and e-distribution to attract potential guests and convert them into bookers. It has become the fastest growing company in the online presence and e-distribution sector in the region and uses its local knowledge and support to drive sales and marketing.

The company was created by hoteliers with the express purpose of appealing to hoteliers and claims to ‘truly understand the needs of the industry’.

Telephone: (+971) 4 448 7222
Web: www.resnetworld.com
Email: info@resnetworld.com