Saturday, April 9, 2011

Revenue management systems

Recently I read an article by Jon Inge on revenue management systems in which he spoke about the importance of using RMS to fill gaps in slow periods and to use RMS is to capture all available revenue. Revenue Management systems like Rainmaker help the marketing department forcast for times of slow periods and tell hotel management when its not worth the effort. The systems can also be desighned to find oppurtunities with existing guest and how to market to the segment that your particular brand is important to. Revenue management systems can show hotel managers where they are leaving money on the table and help give management a leg up on how to capitalize on market segments that would purchase their  product. Rms are programs tat can be teid into other programs that give you information on guests folios and guests preferences. Basically this is a system similar to a pos system that can give you information on how to better manage your hotel.  http://www.hospitalityupgrade.com/_magazine/magazine_Detail-ID-567.asp

Reflection
This was not my favorite article, I felt that this revenue management system was just another program that should be done the management and its marketing department. The hotel management should have an idea of when the hotel is slow and how to capitalize on its market segment. The RMS seems to me like another way to gather information already available to the hotel, although i am sure it can expedite this information more rapidly, i dont see how it will save or make the hotel more profitable.

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