How to Increase Your Revenue
How to Increase Your Revenue
HMS Thailand is an expert in the field of revenue management for Thailand’s hotel businesses. By conducting hotel sales and marketing assessments we help you to understand the effectiveness of the sales team. We will work with your team to maximize your hotel revenue through better rate management, outperforming competitors, and operating a more efficient hotel marketing and sales department. We establishing revenue management guidelines to help maximize your RevPAR.
This we will match with the perceived value of their respective target market in order to benchmark your property. Based on the outcome we can determine if the current strategy is inline with the competitive landscape and where we spot opportunities and threats.
All though the product offered looks the same, each segment has a different value perception of the product. The market segmentation is the base for good rate distribution strategy. As each seller group has a different business model (BtoC/ BtoB/ Online/ Offline), benefit schemes have to be set in order to stay competitive.
Our grass root approach will identify the market segments and make them part of the Revenue management process.
Dynamic pricing is currently needed to cope with irregular demand which is caused by the increase of online distributors and resellers in combination of new technologies as smart phones and tablets. The market has the opportunity to shop on its own convenient time and using new techniques to valuate purchases and to find the best available rate. Today’s hoteliers have to step away from seasonal pricing and use more dynamic and flexible pricing.
The combination of strong market analysis to determine your competitive set, their performance and the relation to your business is essential to formulate your pricing strategy. The pricing strategy will be the chain to hold the strategy in place. To create interventions in your strategy, we will preform forecasting techniques and monitor revenue pick up on scheduled time slots. We will be able to visualize the gap and peaks in the revenue stream, and optimize our revenue strategy on a continuous base to make sure we maximize your hotel revenue.