As we recover from the initial shock, what can revenue managers do now, other than sit tight and pray for coronavirus to be over? Here are the practical, short-term steps to take.
Revenue analysis is a key factor in any revenue management role, with the results giving a good indication of past, present and future performance.
Intense competition and persistent economic uncertainty mean that it’s imperative to continuously assess and optimise opportunities to improve your hotel’s operations and performance, minimise risks, reduce costs and grow revenue. This is where a revenue management audit can help.
Your hotel restaurant can be a solid driver of revenue and an integral part of your hotel’s identity, and its ability to help market and sell your hotel shouldn’t be underestimated. Here are some ways your restaurant can help to increase your revenue.