I'm a Revenue Manager- What Does Social Media Have To Do With Me?

The fundamentals of revenue management are changing. Historical booking patterns and sophisticated algorithms are a strong base for rate and distribution strategies but they are not dynamic enough. ...

The fundamentals of revenue management are changing. Historical booking patterns and sophisticated algorithms are a strong base for rate and distribution strategies but they are not dynamic enough. For many hotels the impact of social media on revenue management strategy remains unresolved.

The value a hotel delivers to its guests is reflected in the reviews they write; the hotel’s position in a fast-moving market determines the revenue performance it can achieve; competitors are busy finding new and innovative ways to attract guests. There are a myriad of information sources and as many ways to interpret and use the data they provide. In this paper we examine the multiple influences on revenue performance in the Age of Social Media and look at the virtuous circle which can be established when revenue performance is driven by value and market position.

About RateGain
RateGain is a leader in hospitality technology solutions for seamless electronic distribution (channel management), revenue management decision support and brand engagement (reputation to revenue conversion) helping customers around the world to streamline their operations and sales. Since its inception in 2004, RateGain’s expertise in innovating solutions for the dynamic hospitality ecosystem has resulted in continuous growth and an established position as a thought-leader and trendsetter in the marketplace. For more information visit www.rategain.com

Likes0Downloads0Comments0Embed Views0Views on SlideShare0Total Views0

View the original article here