The Importance of Having a Revenue Management Strategy

Here at Revenue and Research, we are proud to be the most forward-thinking revenue management consultancy in our industry. We don’t hide behind fancy words or cryptic strategies. Instead, we remain transparent and lead with data. Using daily sales and occupancy reports, individualized property strategies, and understanding YOUR market data, we guarantee 100% of our attention to your revenue management needs.

We believe very strongly in having a strategy not just for your company, but for every unit that you manage. We focus on making sure you have at least 365 days of premium bookable rates. People ask, “Why is that so important?” In order for you to pick up the most premium bookings outside of the normal conventional booking window, you need to have published rates. Once you know and understand your booking windows, you can leverage those premium rates, ultimately making you the most revenue possible.

This all sounds great, but let us show you an example. Here is a snapshot from one of our clients just in September 2022. This client has a very short booking window. When we really noticed demand shifting in June for the upcoming Fall season, we made some adjustments to their rates. We saw the pickup happening on the weekends, but not much movement during the weekdays. We came up with a plan. Before we put that plan in place, we made sure to check market data so that we were not pricing outside of the market. We also looked at how these units preformed last year. This was not a company wide change, we realized that the adjustments needed to be made at a unit level. The plan was not a one size fits all, it needed to be customized.

In being proactive and watching our strategy play out each week, we were able to set up September 2022 to be a success, and we were able to make adjustments along the way. Now we are inside the “normal” booking window and pacing 31% ahead for revenue collected in September 2021.

We want to save you tons of time and help you crush your revenue goals for years to come. We can’t wait to show you what’s possible when you partner with our team!