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Revenue Management Glossary

Revenue Management

Definition

Revenue Management is often defined as selling the right product, at the right time, to the right person, at the right price. But that sounds a little easier said than done. So in general, you can think of revenue management as a set of goals and tactics that aim to result in an increase in revenue. Whether it be forecasting demand or dynamic pricing, there’s a huge amount a hotel can be doing to manage their revenue.

How to use it

Used to maximize revenue and occupancy of the hotel

Formula

N/A

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