An Introduction to Profit-Oriented
Revenue Management
This whitepaper highlights the top 10 actions that have been proven to significantly impact a hotel’s profitability based on extensive industry experience. These actions cover a range of areas, from understanding marginal profit to utilizing data and analytics. By optimizing all of your hotel operations and marketing, you can create a harmonious and profitable balance that surpasses traditional limits.
The Benefits of Total Revenue Management
One of the key benefits of TRM is the ability to understand the customer journey and make data-driven decisions. By collecting and analyzing data on guest behavior, hotels can identify the most profitable revenue streams and adjust their offerings accordingly. These insights allow them to increase revenue while improving the guest experience.
Market Segmentation:
The Key to Success in Hospitality
From a marketing perspective, a hotel would like to reach only those who have a reason to travel to the destination. This minimizes the acquisition cost and increases the bottom line. Analyzing a poorly structured and irrelevant segmentation will make the wrong marketing, sales, and revenue decisions, which might heavily impact market share and the bottom line.
