Revenue Management partIV - Optimize Your Pricing Strategy www.guestcentric.com

http://www.guestcentric.com New series of workshops on Revenue Management Optimization for independent hotels by GuestCentric Systems. The implementation of a revenue management strategy to maximize revenue and profits is crucial for any hotel. Although 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. The workshop will be hosted by Pedro Gomes Product Manager at GuestCentric Systems and will provide viewers an overview about the fundamentals of Revenue Management. The topics of the workshop are the following: •Introduction to revenue Management •What revenue management strategy do you follow •Choose the pricing strategy that fits you the best The videos will be posted on the following dates: •Introduction to revenue Management part I August 31, 2009 •Introduction to revenue Management part II September 15, 2009 •What revenue management strategy do you follow September 29, 2009 •Optimize Your Pricing Strategy October 27, 2009

Category:

Travel & Events

Tags:

• revenue management
• travel industry
• guestcentric
• hotel booking engine
• hotel management

[GuestCentric]

@dominicscaife By analyzing three simple things:

- Your Hotel occupancy history. Gather your last 2 year occupancy history and check the trend during that period.

- Impact events at your hotel location. Register important events that you think will affect demand at your hotel location.

- Analise the reservations that you already have for the next 3 months period. Match the data with the last 2 year trend, allowing you to make a projection on the possible demand scenario.

[dominicscaife]

Interesting Video - but how do you create an accurate picture of the demand curve to adjust your pricing strategy as shown in this video?