What do you think can improve the hotel's operating income?

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How to improve the profitability of hotels

I. Customer Classification and Demand Forecast

Different customers often have different requirements for hotels. Although each hotel has its own market positioning, there are still many differences in the nature of customers, source channels and consumption characteristics. By classifying different customers, the statistical characteristics of various behavior patterns are obtained, and then the future needs of each type of customers are accurately predicted, including the booking time, the length of stay, the difference between actual check-in and booking, the probability of early departure and late departure, and so on. With these accurate forecasts, and according to the price sensitivity of various guests, the hotel can control resources well and improve revenue.

Second, price control and room control, optimization control.

With accurate demand forecast, there must be a set of corresponding price and control system, in order to make flexible and effective use of hotel resources and maximize revenue or profit. According to the difference between pre-sale and price control system, the most commonly used optimization methods mainly include linear programming, dynamic programming, marginal revenue control, risk minimization and so on. These methods are finally transformed into operational control mechanisms, such as shortest and longest control, full-length control and so on.

Third, special events and holiday price demand control

Holidays and special events are often the best time for hotels to make profits, and many hotels can generally reach a high occupancy rate during this period. But high occupancy rate does not mean high profit rate. In order to maximize income and profit, there must be a set of perfect holiday demand forecasting and control methods.

Fourth, the setting of hotel price strategy

Hotel pricing and management are the most direct levers to adjust hotel profitability. Although the common cost-based pricing method is simple and feasible, it lacks flexibility and cannot reflect the changes in market demand. Some pricing methods based on revenue management, such as real-time bidding pricing, floating pricing, competitive pricing, etc. Through market segmentation and effective control, the role of price leverage is brought into full play.

Five, oversold and free upgrade control

There is often a difference between pre-sale and actual occupancy. How to predict and control this difference and ensure the actual occupancy rate is a problem that hotels often have to solve. Especially in the peak season, this problem is particularly prominent. For hotels, it is necessary to ensure the highest occupancy rate as possible and avoid the embarrassment of overbooking. Therefore, an accurate golden section and overbooking control of box estimation are important tools to ensure the hotel to minimize customer service losses while maximizing revenue.

Six, channel management and team management

Channel and key account management is a business that every hotel has, and in most cases there are certain discounts. However, how to quantitatively analyze this business and effectively control the discount degree is a very important part of revenue management.

Seven, "full income" management

Not only the revenue of rooms is predicted and controlled, but also the revenue of the whole hotel is predicted and optimized to maximize the benefits.

Eight. Comparison and historical analysis of operating conditions

Timely feedback and historical analysis of hotel management is an important way to ensure the correct decision-making of hotels. Revenue maximization management can be a good strategic and tactical decision-making weapon, because it has a lot of historical data and future demand forecast. In addition, by comparing the difference between the actual income obtained by different control modes and the theoretical maximum income, the hotel management can judge the state of operation and management at any time.

Nine, combined with customer value to create maximum income

Determining the value of each customer and treating them differently through corresponding revenue control is a new direction for hotels to obtain maximum benefits.

In short, the core of hotel revenue management is to dynamically regulate hotel resources by formulating an elastic price system that conforms to the law of market competition, combined with IT micro-market forecasting and price optimization. So that the hotel can achieve its long-term goal, make full use of the opportunities in the market at every specific business moment, and get the greatest benefits. Generally speaking, the goal of hotel revenue management is to make the hotel sell to the most suitable customers at the best time, at the best price and through the best channels.