Intro to Revenue & Yield Management
Revenue and Yield Management is essential to the success of your hotel property. The "Set it and Forget it" approach to managing your room rates and guest rooms is not an effective way to maximize REVPAR, ADR and your overall bottom line.
In this session you will learn the ins and outs of Revenue and Yield Management.
Some of the areas covered in this session include:
- How to find out which hotels are in your compset and develop an analysis of each property
- Define Revenue and Yield Management and how it can greatly benefit your hotel
- When to increase room rates based on demand in the market
- Learn trade secrets on how to control your inventory to maximize profit
- Know the different channels available to shop your competition
- How to track your compset rates effectively
- Learn about the different market segments of your hotel and concentrate a sales effort on attracting the market segments with the highest average daily rate
Plus so much more. We will go in depth on ways to increase your ADR, penetrate a higher REVPAR index and stand out at the top of your compset.
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