Q : What Is Revenue Management?

EHL Insights | July 13, 2021

Revenue management involves the use of analytics and performance data to help those in the hotel industry predict their customers' behavior. The data is then utilized to make appropriate decisions in regards to pricing and distribution strategies. The ultimate goal of revenue management is to have the right room for the right person at the right time and place. When this occurs, you will be more likely to maximize your revenue, and in turn, your profit. The information gained on how your customers think and perceive value will be ultimately used to match your supply to their demand. This will help you determine when it is best to hold onto a...