Welcome to Driving Revenuesä from Revenue by Design.

Revenue Management is now viewed as a sound business practice. Developing a revenue management culture across the hotel team is the first step in the process. In this newsletter we offer practical steps on how to make this happen.

At Revenue by Design we offer a range of services designed to build Revenue Management practices on property. To find our more about moving forwards and making change happen then give us a call on +44 (0) 207 635 6810, or visit our website

We look forward to hearing from you.

Developing a Revenue Management Culture

Janel Hoskins, Revenue Director. Revenue by Design

Revenue Management is a core management function and as such involves the whole hotel. Successful Revenue Management means developing a Revenue Management culture within a property. Create a Revenue Management team and start by introducing a Revenue Strategy meeting, a weekly forum to discuss future strategies and make decisions as a team effort. Introduce the following key principles of Revenue Management:

Know your place in the market. Understand your competition: set competitive rates using your knowledge of what the competition is offering.
Get to know your customers. Learn their buying behaviour. Segment your internal database to ensure you are putting the right offer in front of the right guest at the right price.
Forecast, forecast, forecast. Start to forecast the demand for your property. Base decisions on your knowledge rather than what you want to happen or think might happen.
Pricing - Create a pricing strategy and rate structure for the hotel which makes good sense to the guest. The value we place on our hotel rooms or amenities may not be the value the guest places on them - identify the difference.
Customise your website. Connect emotionally with your guests and start to create the experience of staying at your hotel. Invest in a booking engine with functionality to match your pricing structure. Most people believe that they get the best deal by booking on line so ensure your hotel's website is offering your best available rates. Offer packages targeted at your customers.
Create a distribution strategy that works hard for your hotel - Determine the cost of each distribution channel and identify and focus your relationships on those which deliver business. Your own website should be one of the lowest costs of distribution. Direct your bookers there to make reservations

Make your team a Winning Team.

For more informatiion on creating a revenue driven culture contact Janel Hoskins, Revenue Director, Revenue by Design

Janel@revenuebydesign.co.uk

For more information on any of our programmes please conact:

Ally Dombey on +44(0)7768 904 076.

We look forward to hearing from you!

Ally Dombey
Revenue by Design Ltd

ally@revenuebydesign.co.uk

Revenue Management Workshops

July 2007!

Revenue by Design is holding a series of Revenue Management workshops throughout July in key cities in the UK

Manchester

Newcastle

Bristol

London

Glasgow

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Revenue Management workshops

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Extranet Management - streamline your channel Management

Revenue Management Programmes

Winning Revenue Management Programmes for a hotel or group to optimise revenue potential

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Coaching & Training

Hands on coaching and training - control your revenue management and develop your own winning team!

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Save 10%	Book Early and Save! Sign up for a Revenue by Design Dynamic Revenue Managementä workshop by June 20th 2007 and save 10%. Offer available on all bookings received by June 20th 2007. Additional savings are available for multiple delegates. For more information on other ways to save see the online booking form.
Offer Expires: June 20th 2007