Review your business model
Reinventing your revenue management
The Covid has completely changed the way in which a hotel pricing policy is conceived. How do you simply exploit the prices or ramp-ups of N-1 when travelers in the usual markets are unable to travel beyond their home country?
During this crisis, revenue management experts had to reinvent their model, think about the notion of algorithm, put people back at the heart of the game and personalize their approach even more.
Hotels that have taken the time to think about methods to capture new markets, to adapt to each government announcement, will be able to do well when the recovery arrives and travelers can choose from all the hotels available.
- An upset model
- Ask yourself the right questions
- Change the construction of your offer
- Price & experience
- Developing its distribution channels
- Adopt the right methodology