Pricing strategies are becoming exponentially complex given the diverse array of channels to sell your product as well as the rapid pace of our Internet-driven society.
Revenue Managers (RM) work in tandem with the GM and director of Marketing to coordinate the best room rates and promotional deals, as well as properly segment your group sales tiers from what you might offer FIT customers through the OTAs or flash sales. It’s a numbers rigorous job and a good RM is an indispensible commodity for your hotel.
Keep in mind that due to the required skill set, it’s difficult to mold the RM’s duties into another job position and in doing so, you’ll jeopardize the efficacy of your overall pricing strategy.
About Larry Mogelonsky
Larry Mogelonsky is the president and founder of LMA Communications Inc., a full service communications agency focused on the hospitality industry. Larry is also the developer of Inn at a Glance hospitality software. As a recognized expert in marketing services, his experience encompasses Four Seasons Hotels & Resorts and Preferred Hotels & Resorts, as well as numerous independent properties throughout North America, Europe and Asia.
Are you an expert and would like to be featured? Do you have a question for one of our hospitality experts. E-mail us at firstname.lastname@example.org.