Revenue management sounds intimidating because the industry has made it complicated. But at its core, revenue management for independent hotels comes down to five numbers and one daily habit.
The five numbers you need to know every day. First, your occupancy for the next 7 days: how full are you? Second, your ADR compared to competitors: are you priced above, below, or at market? Third, your pickup trend: are rooms booking faster or slower than before? Fourth, upcoming events: is anything happening nearby that will drive demand? Fifth, your review score: has it moved up or down recently?
The daily habit is a 10-minute morning check of these five numbers. When occupancy for a date is above 80% and rising, raise your rate. When a competitor sells out, raise your rate. When an event is approaching, start raising gradually 2 to 3 weeks out.
What Scalation does
The WhatsApp morning briefing delivers exactly these five numbers to your phone every day, along with specific recommendations.