Question

Now place yourself in the shoes of a Hotel General Manager in any Seattle-area municipality. What are the trends you should be concerned about? How does your market look compared to the other Top 25? How might this report influence your revenue management decisions in the coming months?

What questions come to mind? What parts do you need to understand better?

Answer 1

Today's revenue manager can play a larger role in the overall success of the hotel than ever before. For the potential of the role to be realized, the revenue manager has to take a leadership role and gain the support of others in the organization.

Trends: - On social media platforms, these desires will be taken care of, so make sure you get together so that your property is always available for customer service requirements and provides immediate updating.

* Smart technology in the room is really starting, with guests able to control everything through their smartphone, including lights, temperature, TV, music, blinds, their bed, etc.

Marketing: - Marketing is a great way to get behind the scenes of your hotel to give guests more knowledge, create great ads for your rooms and services, and generally create a variety of exciting content. Hotels are classified according to hotel size, location, target markets, service levels, facilities offered, number of rooms, ownership, and affiliation, etc.

Revenue management:-

The ultimate goal of each hotel is for hotel professionals to generate more revenue when implementing the revenue management concept and to achieve high customer satisfaction and a high level of competitiveness. It was a tool to achieve the above goals. Revenue management is a technology that enables hotel staff to achieve the best possible revenue by accurately identifying the groups of customers (market segments) the hotel needs to service, determining the right products and services (quantities) and determining the best price offered. For these customers

Create 'value proposition' and product pricing strategies for each segment based on the segment's unique needs and characteristics.

The questions to keep in mind are that the hotel industry regularly describes how much progress is being made and what new technology it can take over, or how people are adjusting their travel habits. the hotel can be included in more than one category. It could be a deliberate policy to appeal to a larger market, to encourage greater occupation, or to have a fairer model.