INTRODUCTION OF REVENUE MANAGEMENT
What is Revenue Management?  Revenue management is a application which are
provide the helps to predict consumer demand to optimize inventory and price availability in order to maximize revenue growth.
History of Revenue Management The concept of revenue management originated
in the airline industry but has since proven successful in these companies such as: Lodging Care rental Railroad touring
Steps to Successful Revenue Management To sell the right product like: guest room,
ancillary services. To the right customers like: leisure, convention and government guest. For the right price: like: rack rate, group rate or discount rate.
Benefits of Revenue Management Improves the forecasting Improved the seasonal
management
inventory decisions. Increased the business and profit. Identification of new market segments
and
Methods of Revenue Management Capacity Management Discount Allocation Duration Control
Strategies of Revenue Management Fair market share forecasting Group room sale Transient room sale Local and area wide activities Other special events.
Skills and Qualities of Revenue Manager Operational Skill Analytical Skill Organizing Skill Communication Skill Creativity Flexibility
Techniques of Revenue Management Planning Forecasting Optimization Overbooking
Functionality of RMS Management reporting Group evaluating tools Cancellation management Optimization process using complex algorithms.
Who I Am..  Juan Antonio Manrique Long Beach CA is
business man who provide the help in airline and hospitality revenue management, currently who lives in California.