Revenue Management | Trends | REVPAR GURU identifies four revenue management strategies crucial to hotels’ recovery in 2010

REVPAR GURU has identified four revenue management strategies it claims are crucial to hotels’ recovery in 2010, with demand for hotel rooms forecast to increase only slightly more than 1 percent and occupancy to essentially remain unchanged this year. These are:

New systems, the rise of comprehensive rate optimization systems that coordinate sales across multiple channels and use complex sets of information to optimize pricing in real time.

- Multichannel management, placing more emphasis on managing inventory effectively across the rapidly increasing number of channels, largely through the use of comprehensive revenue management systems.

- Transparency and trust, helping consumers understand the rationale behind rate changes to increase their confidence and lead to higher booking rates.

- RevPAR resurgence, after last year’s focus on salvaging occupancy; hotels will do all they can to bolster their RevPAR figures, from improving or updating their revenue management systems to offering new ancillary services.

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