Revenue Management

In today's highly competitive world, Revenue Management is not optional. It is now as "standard" as airbags are, and hotels who do not practice Revenue Management, are not maximising their revenue opportunities.

Revenue Management has been evolving over the past 30 years and until recently, this topic was not offered at Hotel Schools or Universities. The early adopters applied various tests and sharpened their skills through trial and error. The end result is that a previliged few began to make huge financial impact on revenues. As this practice became more widely accepted, hotels sought out these practioners, offering high end salaries to have the edge over their contemporaries. As Revenue Management became mainstream, Revenue Managers have retained their high end value. The reality however, is that the latest influx of hotel management graduates lack the experience and "street smarts" of the pioneers, who are mostly engaged by the major chains.

This is where we can make a difference.

The founder of Reserlutions, was amongst the pioneers in Southern Africa, and was fortunate to have been mentored by the best in this region. The principles practiced and implemented as far back as the early 1980s, were long before the term Revenue Management was coined. No text book, college or university can match the hands on experience of 3 decades at 2 of Southern Africa's leading chains.

Reserlutions is now making this expertise available to multiple clients through economies of scale. In other words, by servicing multiple clients, we make "proper" Revenue Managemet affordable to even the smallest of operations.

Options

1. Outsource

We offer multiple services you can choose from to suit your specific needs; or you may outsource this function in its entirety, thereby saving on permanent head count and associated payroll burden.

Our Revenue Management services cover the following topics and solutions can be customised to your specific requirements and budget. You may view a more detailed list of services here.

• Budget planning: analyse data and align budgets per market segment and business requirements
• Rate setting for up to 5 years in advance, per market segment
• Dynamic Pricing updates to set your daily Best Available Rates
• Management of your inventory to ensure your market segments / strategies optimise revenue and occupancy
• Forecast occupancies and revenue by market segment and department
• Monthly analysis of business trends, with recommendations for rate strategies, sales and marketing
• Compiling of packages and promotions for use as required, i.e. seaonal, yield initiatives etc.
• Compilation of a rates calendar highlighting peaks, valleys, seaons and events to ensure revenue is optimised at all times
OTA management
• Monitor OTA pricing is adjusted to supply and demand factors
• Monitor the OTAs are selling the correct rate (as per your strategy)
• Monitor that your channel manager is updating rates and inventory correctly
• Monitor OTA promotions are current, updated and not in conflict with your revenue strategies
• Monitor performance indices keeps your ranking to the first page
• Attend regular review meetings with OTA account managers and feedback to Hotel management

2. Consultative

With this service we train your team over an agreed period. During the process we'll help you organize your data in line with your strategies and train your nominees on how to implement basic but effective Revenue Management.

Benefits

1. Over 3 decades of experience at your disposal.

2. Customised strategies to meet your operational requirements.

3. Affordable. We'll tailor a package to meet your budget.

Contact us for a free consultation.