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Established in 2016, RevenYou is a specialist consultancy firm supporting accommodation businesses across Australia, New Zealand, and the Pacific with revenue management, sales, marketing, and systems integration. Let’s look at five examples. Tamie Matthews – Founder & CEO, RevenYou 2.
What is YieldManagement? Yieldmanagement is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. A similar principle can apply to distribution.
Table of contents SiteMinder solves online visibility woes Apart from providing the best service possible, hotels must not neglect the need to maximise their sales channels to boost revenue. Unfortunately this practice was difficult to achieve for Hanging Gardens of Bali.
Prapinporn Phanchakorn (Assistant Director Of Sales ) said: “We prioritise every guest’s preferred stay period, season, or time of day by expanding our contact channels to cater to all types of visitors. With SiteMinder , the Resort has successfully diversified their sales platforms, even with the same number of hotel employees.
A hotel reservation system is the central hub where reservation information is stored from all booking channels, whether by phone, OTA, GDS, sales department, or online booking engine. With a channel manager integrated with your reservation system, you can simultaneously update pricing and availability on all booking channels.
Without a healthy distribution mix including a strong website and direct sales, you can forget about your profit margins. Understand your Hotel´s Market The success of your revenue management strategy depends on how well you understand your market. Have both on and- offline marketing/sales content available to entice group stays.
And even then, manually-managed distribution is risky: any delays in updating rates and availability on a channel’s extranet could mean selling a room that isn’t available or selling at a lower rate, which can lead to overbooking and sub-optimal yieldmanagement.
Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships. The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yieldmanagement, revolves around a strategic pricing approach.
This enhances accuracy, and efficiency and reduces the risk of overbooking or discrepancies. Managing Channel Costs and Commissions While distribution channels are crucial for reaching a broad audience, managing costs and commissions is essential to maximize profitability.
Without a healthy distribution mix including a strong website and direct sales, you can forget about your profit margins. Understand your Hotels Market The success of your revenue management strategy depends on how well you understand your market. Have both on and- offline marketing/sales content available to entice group stays.
What is YieldManagement and Why It Matters for Hoteliers Yieldmanagement is a core revenue strategy in hospitality that enables hotels to adjust room rates based on real-time demand, booking pace, and occupancy forecasts. Yieldmanagement ensures you're not leaving money on the table.
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