Revenue Management is a strategic approach implemented in hospitality businesses in order to maximize revenue and profitability. It involves analyzing market trends, customer behavior, and competitive analysis to make data-driven decisions on pricing and availability management.
RevitUp Direct's Hotel Revenue Management strategic planning is based on the following pillars:
Strategy planning for proper market segmentation
Analysis of target markets and their segmentation based on pricing sensitivity and booking behaviors.
Price Level Structuring
Establishing and maintaining the right price relationship per period and room type, taking into consideration past data and future trends to showcase the correct pricing at any given time of demand.
Direct Bookings Optimization
Optimal price positioning on the hotel’s website compared to OTAs, with a dynamic sales approach based on the availability plan with continuous monitoring of the shifting demand.
Online Revenue Optimization
Creating and supporting a balanced mix of static and dynamic sales by designing customized strategies for both offline and online sales channels aiming at hotel’s profitability.
Dynamic Pricing Strategies
Adopting a dynamic approach to pricing policy driven by hotel objectives, as well as predefined guidelines based on booking flow and availability per room type.
Demand Leveraging
Defining promotional and sales policy with corresponding planning through tools showcasing past and future data to properly leverage hotel demand.
Competition Analysis
Qualitative and quantitative analysis and competition monitoring in order to properly position the hotel in the market.
Forecasting
Creating an annual budgeting plan where specific sales scenarios are defined for maximizing cooperation benefits and hotel profitability.
Data is the key to timely and correct decision-making regarding the aforementioned actions. RevitUp Direct has developed Revelier, a custom in-house tool for data collection and analysis from different sources and their aggregation. This tool enables immediate combined analysis and real-time conclusions, making RevitUp Direct an innovator in Hotel Revenue Management.
In today's digital age, a solid online presence is vital for businesses of all industries. In the hospitality sector, it plays a key role in attracting and retaining customers. By establishing a strong online presence, hospitality businesses such as hotels, resorts and restaurants can reach a wider audience, offering tailor-made experiences to their guests.
Online distribution of hotel products is a complex and continuous process. Setting the price right in each distribution channel requires the adoption of a pricing "culture", as well as a clear strategy that will lead to optimal profitability for the property. This process is strategically important for positioning the property in online distribution channels, with the aim of getting the right price in the right channel at the right time.
In the Data-Driven era, Performance Marketing is the core function of every business, where online advertising strategy is defined, based on the continuous analysis of data, typically including Google Ads, Meta Ads, and other advertising channels. Performance Marketing knowledge may now be prominent in businesses, yet few people comprehend the dynamics and needs of a tourism product that requires a completely different advertising approach and management.
Our services constitute a chain of complex actions that form the foundation for the successful development of any tourism business. Focused on data collection and analysis, RevitUp Direct sets a holistic approach over a 3-year plan, with measurable objectives for each year of collaboration.
Click here to read in-depth the results of our 3-year partnership with Palmera Beach Hotel & Spa.
We will be more than happy to contact you for an online presentation, in which you will be able to see details of the strategy, the methods and the tools we use to achieve the goals we set, together with your hotel’s management team.
Greece
Address: Athanasiou Kampeli 4, 71304, Heraklion Crete GreeceCyprus
Address: Lefkonos 22, 2nd floor, Strovolos, 2064, Nicosia Cyprus
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