Introduction to Revenue Management Part II
Reading Time: < 1 minute[youtube]http://www.youtube.com/watch?v=SL_wi5lcmBI[/youtube]
RevPar: The main Key Performance Indicator
Learn why the combination between occupancy and average daily rate should be the main key performance indicator for your hotel.
Welcome back to GuestCentric’s workshop series about Hotel Revenue Management Optimization.
The implementation of a revenue management strategy to maximize revenue and profits is crucial for any hotel. Although hotel revenue management is consider by many a complex business strategy, the basis of it and objectives are very simple: being able to adapt the price of a service or product based on demand, competition, time, market and other factors in order to maximize profits and revenue.
I hope you find this information useful. Stay tuned for more information about:
- What revenue management strategy do you follow September 29, 2009
- Choose the pricing strategy that fits you the best October 20, 2009
