Implementing a solid revenue management strategy ensures that a new property, and its entire team, hits the ground running from day one.
Opening a new hotel or resort property is both a thrilling and daunting undertaking. With a never-ending list of decisions to make, a diverse group of stakeholders to keep happy, constantly sliding timelines, and unforeseen problems arising daily, it’s a wonder new hotels ever see the light of their grand-opening day.
But you’ve got this, and it’s going to be great. You’re smart. You’ve done your research— maybe you’ve even done this a few times before—and your business plan is solid. Only, what about revenue management? We won’t hold it against you if pricing-strategy planning and revenue-technology evaluation didn’t make the very top of your to-do list, but we would advise you to reprioritize them.
Wherever you are on your new hotel journey, it’s never too soon to assess your revenue optimization needs. From staffing decisions to tech budgets to sales, marketing, and distribution tactics, your new hotel’s revenue management approach will play an impactful role at every stage of development.
Whether you’re an asset manager or developer just breaking ground or an owner looking at paint swatches, IDeaS Revenue Optimization Handbook for New Hotels is designed to help you understand the full scope and gravity of the revenue management decisions and investments you make – well before you greet that very first guest.
This Handbook is designed to help you:
- Ensure you generate the most revenue and start thinking about profit from day one
- Take full advantage of automated, machine-learning pricing and inventory controls
- Navigate demand and market uncertainty
- Do more with less and manage your hotel efficiently, even with a lean team
- Make strategic decisions with greater confidence
- Revenue Management Foundations – Online Courses
- Glossary of Hospitality Revenue Management Terms
- The Lifecycle of Hotel Revenue Management Whitepaper – From pre-opening to renovations, economic downturns to refinancing, a sophisticated approach to revenue management can help you make the smartest decisions every step of the way.
- What Is Revenue Management? – Everything you need to know, from the history of revenue management to the best software, winning strategies, and important terminology.