Nowadays, in the age of digitalization and e-commerce, over 80% of hotel reservations is made online by platforms such as Booking, Expedia, Hotelbeds etc., known as OTAs (Online Travel Agents).
From the moment a hotel has developed multiple sales channels thereby increasing its revenues, managing all these reservations may be the next challenge that arises.
We have been working in the area of contract management process for several years now and we have found ourselves “on both sides of the table”. This has given us an insight into the Tour Operators’ rationale and helped us identify the “tactics” they apply when making deals.
Revenue Management may be the second biggest “headache” for a hotel owner besides contract management.
What is Revenue Management?
Developing a solid brand image for your hotel not only will make your business stand out from the crowd, but you will also claim your position under the right conditions.
A resort’s success depends not only on the number of reservations but also on value for money. In addition, rational cash flow management, proper evaluation of service costs, as well as selecting the strategies that produce the best result with the lowest possible expenses are crucial factors.