Particularly in the age of total revenue management — optimizing revenue from all of a hotel’s available revenue streams, including rooms, food and beverage, spa, etc. — GMs have the unique ability to align team goals so that the entire organization works together to maximize demand and optimize revenue. However, because revenue management is becoming significantly more complex and analytical today, it’s also becoming increasingly difficult for GMs to keep pace with and stay on top of developments in this important field. Despite this, it’s more critical than ever for GMs to stay vested in and proactive about revenue management. To understand how their participation can influence their property’s competitiveness and revenue, here are six reasons why GMs care about revenue management.
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