The epilogue of the perfect revenue budget plan after a year of daily work and experience ends with a but and a senseless stretch in the revenue target that you know already will be impossible to reach
The role of revenue management will continue to evolve. In some cases, the changes will be evolutionary, and in others they will be revolutionary. Rest assured, changes are coming.
It is constantly trying to obtain the right balance of business to maximize overall revenue, helping hotels and resorts price all their transient segments more effectively, not just BAR.
In a 2017 study, Total Revenue Management was identified as a significant future trend, with function space, restaurants, spa, golf, parking, and retail all ‘Likely’ or ‘Very Likely’ to see implementation.