N&C’s view, RM’s problems
This sector has a certain maturity in Revenue Management but sometimes has a poor reflex to focus on the competition or the budget, rather than on history, models, and forecasts. Unlike other industries, the RM profiles are often multi-faceted, and therefore very versatile, but sometimes lack expertise in each of the subjects.
The industry is fairly well equipped for the big players – RMS, Chanel Manager, Rate Shopper – but a lot remains to be done to be up to the standards of the airline industry.
Specific particularities to apartment hotels: the management of long and medium stays, essentially in BtoB.
The missions carried out
We have carried out several RM and Pricing missions on :
- Ensuring consistency between short and long stays (specific to apart-hotels)
- Redesigning public and negotiated prices and the Rate Categories structure
- Improving forecasts at the right level of granularity
- The logic of dynamic pricing management
- Management of sales channels
- Team training and recruitment assistance
- Revenue Integrity
And of course, we have equipped some of them with revbell, our RMS.
INDICES E.M.D.P by N&c
The major players are equipped but the industry is stagnant. It can still gain maturity by equipping itself with more tools to better manage all the RM, Pricing, and IR levers.