InventoryRevenue management

May I do #7: Manage the inventory

By May 7, 2020 May 12th, 2020 No Comments

You NEED to have your hotel open for at least the next 365 days and the prices right from Day 1 the hotel is on sale!

  • Think about how far in advance some events are planned (weddings, conferences, etc.) and how far in advance you can book transportation
  • Make sure you have a good understanding on the key events and that your early bird pricing is reflecting that
  • That applies to all channels: first your own direct channels and then all your distributors. Make sure you don’t have any dummy value entered for your Y+1 days – it happens often to be zero or a very high rate and can have a bad impact!
  • 365 is the minimum, if you can be open for a longer horizon this is even better – don’t expect much bookings but at least if some people are searching you will be available
  • Put a reminder to check both pick up and pricing at least once every 2 weeks to make sure all is in order for M+12

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