What is the meaning / definition of Remote Revenue Management in the hospitality industry?
The term Remote Revenue Management, refers to the practice of revenue management done remotely.
Revenue Management focuses on selling the right room to the right client at the right moment at the right price.
Revenue management helps to predict consumer demand to optimise inventory and price availability in order to maximise revenue growth. The purpose of Revenue Management is not selling a room today at a low price to sell it tomorrow at a higher price. Revenue Management also means selling a room at low price today if you do not expect higher demand.
- Revenue Management