Hotel Revenue Management
Hotel Revenue Management involves selling the right room at the right price, at the right place to the right person. It is one of the most important aspects of hotel management, however, many hoteliers, especially beginner ones, are not familiar with it.
To generate hotel revenue, one needs to take care of several factors such as the type of room, the seasonality of the location, the number of guests, the cancellation policy and much more.
We will help the hoteliers to navigate the complexity of hotel revenue and yield management and ensure revenue for the hotel, which will turn into profits. Once we figure out a way to generate more revenue, we bring all the sources into one faction and divide them accordingly.
Yield Management is changing the prices and cancellation policy on a tactical basis, while Revenue Management involves strategic decisions regarding room inventory distribution, rates, room offerings etc. Other than Yield Management, we also perform demand forecasting and adjust prices, policies and strategies based on seasonality i.e off-season, peak season and holiday season.
We handle all the OTA issues to provide a smooth experience for the hosts. We take care of payments from the OTAs, OTA listing issues, competitive pricing, RevPar performance, and the performance on social media. We are an external hotel revenue agency and hence, we will take more expertise to provide.
We constantly keep track of the performance of the property and adjust rates on OTAs, formulate and apply tactics and strategies accordingly. We have now emerged as one of the best revenue management companies in Mumbai.