Hotel Revenue Management
The importance of revenue management in the hotel industry
Hotels have always faced the issue of perishability. An empty room from yesterday cannot be sold today. And with more competitors and channels than ever before, hotel revenue management solutions have never been so important for dealing with increasingly dynamic market conditions.
What is revenue management?
Hotel revenue management is all about supplying the right rates, at the right time, in order to best meet market demand. By understanding the market and the factors that impact hotel demand forecasting—your booking patterns, your position in relation to your competitors, and future events—you can create your own hotel revenue management strategies for optimizing your performance.
Revenue management technology
Revenue management software has automated the process of demand forecasting and allows hotels to implement pricing strategies that maximize revenue. But while hotel revenue management systems have been available for more than 25 years, the category hasn’t seen mass-market adoption.This isn’t surprising, since implementing a new solution requires considerable effort and can be costly.
Expedia Group’s revenue management solution
Thankfully, Expedia Group partners can access Rev+, Expedia Group’s free hotel revenue management software, through Partner Central at no additional cost. Rev+ gives you access to your property’s revenue performance, public rate shopping data, and market demand so that you can make smart pricing decisions to optimize your revenue. Rev+ is robust yet user friendly, making it ideal for small hotels as well as larger players.
Want to learn more about hotel revenue management in action?
Discover more about Rev+, Expedia Group’s hotel revenue management tool or see how our partners have seen success by leveraging insights from Partner Central.
We sat down with some of our partners in Miami to see how Rev+ has changed the way they work.
Annual planning made easier with our multi-feature visualizations
Hotel demand and searches increase nationwide.
Director of Revenue leverages Rev+ to be more creative in promotions.
Make more informed pricing decisions with Rev+.
Revenue manager uses Rev+ to be aware of local events and rates.