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How Hotel Revenue Managers Prepare for Next Season?

2014-07-28

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Revenue managers have begun casting their nets ahead of the busy fall travel season. And while the approaches might vary, the end result is the same: capture more demand. 


A handful of revenue managers shared some of their strategies for success during a meeting of the New York Chapter of the Hospitality Sales & Marketing Association International, held at Google’s offices.


Tactics discussed during a panel called “The traveler’s mindset: Capturing your share of the market for fall 2014” included: 


1. reevaluating traditional customer segments; 

2. partnering with marketing teams to maximize demand; 

3. avoiding discounting by emphasizing value; 

4. targeting profit rather than rate; 

5. testing new types of rate structures, including add-ons as the airlines do; and 

6. maximizing websites and mobile presence.


(Read more at Hotelnewsnow.com)