hotels revenue management action logging boosts revenue

Hotels Revenue Management Action Logging

Hotels Revenue Management | Action Logging

If you’re new to hotels revenue management or a seasoned professional, you can benefit from the action logging technique. In today’s fast-paced world of hotels revenue management, it can be overwhelming to keep up with the demands of the market, hotel constraints, technology partners, marketing actions and management demands.
In this post, I’ll explain the action logging technique, when you can use it, how it can work for you, along with some examples of bad and excellent capture methods.

XML activity logs built into channel managers & hotel revenue management tools are exceptional at keeping track of actions put through them, but they have a  problem. They don’t reveal the real reasons and related marketing actions that accompany hotels revenue management decisions.

The truth is action logging in hotels revenue management gives more context to logged action. As a result it can keep situations fluid, calm and collected.

When gauging hotel performance, the vast majority of managers opt for historical comparisons, meaning results are either higher, the same or lower than the same period last year. But, a question leads to more questions such as; why is it happening? How can we repeat it? How can we prevent it? What marketing actions were taken? So, how can you ensure you can answer any question that comes up? With a good action log structure and capture method.

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Blend of Revenue Management and Marketing Departments in Hotels

Calling all hotel revenue, yield & e-commerce managers. You have marketing diamonds at your fingertips, it’s all in the data. It’s time to tap in.

The role of revenue management in hotels is changing at a profound rate. Gone are the days of locked away number crunching.

These days revenue managers are reporting directly to top management and are bypassing sales and marketing in most cases. The insight and know-how they have is incredibly valuable. This phenomenon, driven by technology is causing disruption for property owners. Harnessing the power of revenue management insight and marketing creativity will significantly make marketing efforts more targeted.

Technology is driving this phenomenon at an unprecedented rate! Continue reading →