Covid-19 has exposed weaknesses both in hotels managing Revenue Management internally as well as the traditional outsourcing model and Revenue Management software providers.
Whether we are talking about small or large investments, adjusting to trends remains evermore important in current times. Adapting does not necessarily translate into resource heavy, though.
A strong email marketing strategy is critical for guest conversion, whether for first-time or repeat stays. It also creates the ideal platform for upselling and cross-selling opportunities, as well as the possibility for cross-over from business to leisure and vice-versa.
Bleisure is still a relatively nascent trend in the hotel sector, but given how much it is growing, it is wonderful news for hotels that are interested in appealing to this group.
Total Revenue Management is a much-discussed concept in hospitality, but in reality it has produced a great deal of confusion. Put simply, it is the revenue management of all revenue sources in a hotel, encompasses every single hotel income stream.