For most hoteliers, establishing rates is a rational, practical task based on analysis of the market and historical trends. But, your hotels bottom line could be missing a key dimension when deciding on room rates: price psychology.
Darlene Rondeau, VP, Best Practices, Online Merchandising pens a guest blog post highlighting the importance of bringing revenue managers into your decisions on digital marketing.
In this presentation Tony Gothard, Senior Director Revenue, Sales & Marketing, Wyndham Hotel Group shares his top tips on how to develop a revenue management strategy which increases profitability throughout your organization.
Occupancy is high. Youre crushing your RevPar Index. And, youre on pace to surpass your quarterly revenue targets as well as last years revenue. From the look of things, your revenue team (this includes marketing and revenue management) is blazing to success and should be credited and applauded for driving huge profits to your property. But, wait. Look closer.