HOTEL REVENUE MANAGEMENT RESOURCES

BY AHMED MAHMOUD*

Revenue management refers to the strategic distribution and pricing tactics a hotel uses to sell its rooms which is perishable inventory to the right guests at the right time to boost revenue growth. Revenue management is an extremely important concept within the hospitality industry because it allows hotel owners to anticipate demand and optimize availability and pricing in order to achieve the best possible financial results. Revenue growth and exploring new revenue resources is the aim for every hotelier and it is everyone’s business, so why can’t we make it part of everyone’s daily work routine. Every employee wants to be part of a company’s growth agenda, but most don’t know how. Hotel management needs to provide them with both information and tools, starting with making revenue growth an inherent part of daily conversations, meetings, and presentations. In the area of revenue streams and new revenue resources, the sky is the limit for creative minds. Hotels should really aim to maximize revenue from every imaginable source as long as the core offer stays competitive and of good value to each guest with high profit ROI for the hotel management.

*Founder of revenueyourhotel.com