REVENUE MANAGEMENT

If just by glancing to the hospitality business market around, it can be noticed that there is a certain amount of lack in terms of representation. The hospitality business is not yet properly seen as a product to be marketed and sold. It seems as if the local independent hotels are not yet able to accept the idea that visitors aren’t willing to search and claim, it appears that they would rather prefer receiving offers from experienced professionals.

It has been studied the impact of proper sales representation and its impact on the revenues generally speaking. And, yes, it resulted that there is a strong connection between these two components of revenue management. But, are the independent hotel sales human resources equipped with proper techniques of driving sales towards the best revenue management?

From different researches developed in the area, external companies who provide marketing and consulting services play a vital role in the current competitive scenario. Such companies with their innovative strategies in the sales and marketing representations of independent hotels enhance the revenue generation methodology in an organised and well projected manner.

If we turn to history, over the years many independent hotels have outsourced the revenue building tools, techniques and management to other external companies to bring dynamism in the workings of the business. The most important factor that keeps any business lubricated is finance or revenue. The external marketing and sales management companies seem to understand the need for enhancement of revenue opportunities. Their well-trained team of experts assist you to reach the zenith of success by cutting down the competition by maintaining sync between the cost-benefit analyses.

These external companies follow the simple mantra- “Innovation is the mother of invention”, they try to bring the specialised, innovative revenue generating tools in your business of independent hotels to upgrade the sales and marketing strategies to the maximum level.

By analysing their general organisational structure, it seems that these external companies carry a team of experts who will assist their clients in designing sales and marketing strategies with their expertise in the Hospitality industry. Further, the process of revenue generation mechanism is revised periodically with exclusive mechanisms to analyse the credibility of the existing structure with the new structure introduced. Post which, suitable improvements on the structure are taken care of.

User experience shows that professionally trained team of experts make every attempt to guide the clients’ in the best possible manner to raise their financial projections. It will assist them in minimising expenses so as to raise the financial avenues.

From economical articles and reports, we notice that hospitality industry around and in Mumbai/Pune is very competitive. To stay in the competition and to improve your sales entrepreneurs must have the best marketing team working for them. The external/outsourcing sales representation companies work with an idea of revenue strategy at an initial level on the one hand, and a dynamic make-over of the revenue generating tools on the other hand. They help to shape the revenue strategies to combat the national as well as international competitive challenges in the minimal span of projected time.

The general services provided by such external / outsourcing companies under sales and marketing services fall broadly into the following categories as per our wide observations:

• Sales and Marketing Management Techniques
• Sales representations & Marketing management and Services
• Regional Sales
• Generating leads & promoting hotel reservation
• Audits & verifications under Sales and Marketing
• Maintaining Public Relations (PR)

These external companies allow independent hotels management to concentrate on other departments and let the revenue management department be handled under their consultancy. No matter what size your independent hotel is of, revenue management is an area which always enhances your sales and marketing position.

Rahul Verma @ ROOHI
ROOHIHOTELS.COM