What Is Revenue Management & How It works ? Falguni (30/05/2017)

Revenue management analyze the market behavior, Hotel parameters to maximize the Revenue growth.

Revenue screen shows comparison of hotel's current and past years data like Total Rooms Sold, Occupancy %, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), Max and minimum offered rate in past year, current year's offered rate, highest selling business source, highest selling room type and rate type on an average in past year before how many bookers have booked the room (average cut off days).

Necessary key parameters which are important for the hotel's revenue generation and he can analyze it and act accordingly and plan out what further steps he needs to perform like increase/decrease in price, increase marketing or change his strategies.

You can view this panel from right icon on the Revenue Chart in eZee Reservation--> Configuration Panel --> Home Dashboard and eZee Reservation Configuration Panel --> CRS Dashboard and also from the eZee Reservation Configuration Panel --> Reports --> Statistical 

-> Revenue Management.

Hotelier also gets the list of events along with the Venue and where the event will take palce. In order to configure the City for which the Hotelier wish to get the events. Steps to Configure the Event City, Click on Revenue Management-->Click Events--> Please Refer Image 1 & Image 2. Then System will get you list of various cities along with States and Country. Events might play an important role in Hotels, also some of the events may be important and attract the attention of tourists, so it can contribute towards increasing the bookings and revenue for the Hotel. Events include Conferences, Exhibitions, Concerts, Parties, Meet ups and Festivals.

Image 1.

Image 2.

If source is not configured then the we have to Click on "Go to Configuration Panel" and configure all details to get started. Please refer the below screen shot for reference:

It will also indicate if any holiday exists for particular date and highlighted weekend days so that hotelier can easily get the idea and he/she can predict how much business is expected as during holidays and weekends, more bookings can be expected at the time of Events. You can add/edit holidays, also we have a facility of importing holiday so just choose the country and all the holidays will be added to the system.

For getting holidays on the display you need to add holidays. You can add holiday manually using "Add New option" or "Import Holidays". For importing Holidays click on Import Holidays Option and it will get you the list of countries for which holidays are available for import and you just select the country and click on import it will add all the holidays for that country. You can further Edit/Delete/Update Status for various Holidays. You can perform this operation from Configure holidays icon in Revenue Management Screen or from the eZee Reservation Configuration Panel -> General -> Holidays. Please refer the below screen-shot for the reference.

Also Hotelier can add all his competitors hotels and screen will display the low and high rate of his competitor's hotel so that he can compare with his rates and get the idea about market segments.

One screen to get data and change configuration for all hotel chains so all properties in chain can be easily analyzed and can change the configuration easily without switching.