How could hotel revenue management consultants help your business?
As a hotel owner, one of your main priorities is not only superlative customer service, but ultimately maximising sales and revenue for your establishment.
With so many demands on modern hotels, employing a third-party hotel revenue management consultant will free up time and help to increase revenue and streamline your business at the same time.
What do hotel revenue management consultants do?
A hotel revenue management consultant can look objectively at your business and create a bespoke package of consultancy to suit your hotel’s specific needs.
As an independent specialist, they will assess where your business is at and then advise what systems you can implement to improve performance and drive sales and results from the team.
During their assessment, a hotel revenue management consultant will look at various aspects of the day-to-day running of the hotel, including inventory and pricing strategy and distribution channels, but they will also view your hotel’s revenue historically, looking at things like customer demand patterns so that they can help you improve on results going forward.
Even if you think your hotel is performing well, you can benefit from bringing in a hotel revenue management consultant as they will have in-depth, unrivalled knowledge of what strategies and techniques work industry-wide. Their expertise can determine what specific tools will work within your hotel and with their finger on the pulse when it comes to pricing, a hotel revenue management consultant can tweak your pricing strategy to help give you the edge on the competition.
As well as casting an impartial eye over your business, a hotel revenue management consultant can also help you save money by streamlining costs. Using a consultant’s services and paying either a one-off fee or a part-time retainer will cost far less than employing someone full time to do the same role. As well as the obvious salary savings, your business will also save money on training and benefits.
There’s so much a hotel revenue management consultant can look at in terms of growth, streamlining and adding in new systems, it’s worth speaking to an expert to discover where there are gaps that need plugging to maximise your hotel revenue at such a difficult time for the hospitality industry. Find out more about our consultancy service, or get in touch with Octopus Revenue today, for a no-obligation chat about how we can help your business.