2 How does it all work?

Hotel & Catering JobsRevenue Management

More On Revenue Management

Market Segment Identification

The first and foremost step in a hotel RM system is the identification of the various market segments for the hotel room, followed by implementation of a differential pricing scheme.

The objective in front of the hotel is the expansion of its market and in motivating the customer to pay more than he/she will usually spend. It is further observed that customers in the business class segment are less sensitive to higher prices as opposed to those in the vacation segment.

An RM system helps hotels create additional price-points by building physical and logical fences around the different market segments, as shown in the table below:

NEXT > Demand Forecasting

Latest on Revenue Management

The gadget spec URL could not be found

Revenue Management
Get ALL the latest on Revenue Management
delivered to your Email! 
Get Only Revenue Management Jobs, News & more!
Click here