Hope that caught your attention ;)
What is modern Revenue Management? Is it still Selling the Right Room to the Right Client at the Right Moment at the Right Price? Well that’s super easy if you have enough demand. There are many smart tools out there which can help you make the right decisions. Here are some of the best:
First, let’s clear out the first statement in this post. “OTA can give you more direct”. It’s simple. I have heard it repeatedly from hotels. “The more eyeballs, the more direct” Good placement on OTA’s will drive more people to your website. Google says that more than 50% visit a hotels website after seeing the hotel at an OTA. Smart hotels use OTA’s to get more direct bookings.
The real challenge is to grab them while they visit your website and convert them.
Direct is still the biggest channel for most hotels, but we tend to not speak as much about group reservations, conference bookings, large family trips, corporate and other kinds of direct traffic.
My best advice for creating more revenue opportunities is to drive commercial actions towards these segments as much as we do towards the transient segments.
We need more commercial specialist who create more revenue opportunities for the smart systems to yield and analyze.
Let’s make a new elevator pitch for modern revenue management.
It could be:
“The art of creating infinite revenue opportunities (for your AI to process)” ;)