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The study suggested that, going forward, (THRM) total hotel revenue management practices will be more fully integrated into all hotel operations, including function space (although these ideas have yet to gain much traction in the industry). It is evident that in order to be future-ready, hotel management companies in India need to adopt hotel revenue management to a larger extent. <br>Checkout - https://www.promiller.in/post/the-future-of-hotel-revenue-management<br>
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The Future of Hotel Revenue Management What do you do when you want to increase profits from your hotel business? Any solution that one can think of falls into two major categories: 'Decrease the Expenses' and 'Increase the Revenue'.
As typically found by many hotel asset management companies in India, the latter is less focused upon, in comparison to the first solution. Hotel businesses tend to cut back on expenses in order to maintain (or increase) their profits. Now the question arises: 'Which one of the two is better?' Well, we believe a balance of both is vital for a steady and sustainable solution.
The study suggested that, going forward, (THRM) total hotel revenue management practices will be more fully integrated into all hotel operations, including function space (although these ideas have yet to gain much traction in the industry). It is evident that in order to be future-ready, hotel management companies in India need to adopt hotel revenue management to a larger extent. Dilution of tariff at unreasonable rates can be seen as a common challenge for hotels and it heavily affects a micro market and hence is often discouraged by good hospitality asset management companies.
