Hotels can take immense benefit from the Revenue Management concept and Conversion Rate Optimization (CRO) in today’s hotel industry. Why revenue management is important? Revenue management is important because it optimizes pricing strategy for hotels, availability, and distribution channels to maximize revenue and profits. On the other hand, CRO focuses on improving the conversion rates of website visitors, leading to increased bookings and revenue. By combining it, hotels can enhance their performance, make data-driven decisions, … Read More

We have already discussed what is revenue management in hotels. To sell rooms, tickets, and services to the right consumers at the right moment and price, the travel industry uses (RM) revenue management roles and methods. This intricate task includes a number of elements that are affected by demand, market dynamics, consumer behavior, and demographics. Demand Forecasts Segmentation of Guests Pricing Strategies Yield Optimization Since all four are affected by digital transformation, we’ll focus on … Read More