Travel customers have an unprecedented number of options to shop and book hotels, with new competitors constantly jumping into the distribution channel pool. Determining what inventory to sell through which channels has become a critical component in operating a profitable hotel.
As summer's warm breezes and lush, green growth transform into the vibrant colors and crisp air of the fall season, another familiar season arrives in its wake: the often dreaded but always necessary Hotel Budget Season.
In the highly competitive hospitality industry, it is critical to assemble as much information as possible to make educated decisions: enter revenue management. Using the basic principles of supply and demand economics, hoteliers can optimize revenue by strategically managing a property's room inventory, pricing and distribution.