Have a Question?

Kelly Garbarino

Kelly is an expert in digital marketing, driving demand, and building successful, profitable businesses. Her work with hospitality and venue property owners is focused on helping them understand how to optimize their strategy and define their brand to accelerate revenue. Through her first-hand experience as an innkeeper and event coordinator she brings a holistic view on the industry.

Hotel revenue management is a critical aspect of hospitality marketing, even for small bed and breakfasts and boutique hotels. By analyzing demand, occupancy, and pricing data, a successful strategy can help attract high-income clientele, leading to higher ADR and increased profits. It is what helps you work smarter, not harder! Keep reading to learn more about the benefits you may not expect, and what to ask when interviewing revenue management companies.

Innkeeper serving breakfast on balcony at boutique hotel

Frequently Asked Questions about Revenue Management

Q: What is revenue management?
A: Revenue management for hotels is like a game of selling rooms. You want to sell as many rooms as possible at the highest price, while still making sure people are happy to stay at your property. To do this, you need to keep track of how many rooms you have left to sell, forecast when people want to stay, and predict how much they’re willing to pay. You win by making the most money possible!

Q: Is revenue management just for big hotels?
A: No! Revenue management is important for all hospitality properties, big or small. Every room night matters for smaller bed and breakfasts and inns, and making sure you’re getting the most out of each one is crucial. So, don’t think just because you’re a smaller property, revenue management isn’t for you. Give it a try and see the impact it can make!

group of happy guests enjoying wine hour at a luxury inn

Attracting The Right Guest To Your Property

According to David Browning of Eden Vale Inn, turning over rate management to our hotel revenue management expert, Vikram Singh, has led to “a better type of guest coming in and an increase in revenue.”

“Just an observation…One of the things we experienced when turning over rates to Vikram and his team (after doing the rate sheet method), was letting go of any previous notion of what we thought our rooms were ‘worth’. We noticed a better type of guest coming in and an increase in revenue. Best decision we’ve made.” – David Browning, Eden Vale Inn

One of the key benefits of a strong revenue management strategy is the ability to attract affluent guests, who are more likely to purchase additional services and enhancements, such as romance packages, spa treatments, and dining experiences. This can significantly boost your overall revenue and create a mutually beneficial experience for your property and guests.

Woman Searching for a Website Design

Questions You Should Ask Before Hiring a Revenue Manager

We believe in being partners in our client’s success! Before hiring a professional to manage your revenue management strategy, consider the following factors:

  • Expertise and experience: Ensure that the professional has a proven track record and extensive knowledge in the revenue management field.
  • Services offered: Make sure they have a comprehensive range of services so your hospitality marketing and revenue management strategies are aligned.
  • Flexibility and customization: A good hotel revenue management program should be tailored to the specific needs of your property. Ensure the professional you hire is willing to work with you to create a customized plan that fits your goals and needs.
  • Communication and transparency: It’s essential to have open communication with your revenue manager so that you can provide input on the strategy.

owner of small hotel researching revenue management companies on laptop

Industry Leading Revenue Management Services

To help you achieve your goals, we offer revenue management services for hotels that are tailored to your property’s specific needs. Through our exclusive program with industry-leader Vikram Singh, your property’s data will be analyzed by an expert team to provide customized recommendations to help you achieve maximum revenue and profitability. Whether you need a roadmap to guide you through the process or an expert to constantly watch over your rates, we have you covered.

Don’t miss out on the opportunity to maximize your property’s potential. Contact us today to schedule your free consultation!