Front And Center

CS Ramachandran of Preferred Hotels & Resorts, believes that the efficacy of revenue management is not derived from selling more, but by selling right

Despite being around for over three decades, revenue management is often treated like a new kid on the block. Some hotels use it only to run multiple reports, while others consider it a complicated way to manage rates during high demand periods and for pure discounting over need dates. Many hotels also look at a revenue manager as one who opens and closes inventory across all distribution channels.

This department and its resources are widely under-utilised. Hotel revenue management is all about selling the right room to the right customer, at the right time, for the right price, the right length of stay and from the right distribution source. Here are some reasons why hotels need to bring it to the forefront: