OUTSOURCED
REVENUE MANAGEMENT

Increase performance & save time with outsourced revenue management

Outsource your revenue management to Plutus Hotel Revenue Management and will help maximize your revenue and market share.

The hotel revenue manager for hire model provides a complete package of revenue management services, freeing up your team to focus on operations and providing guests with an exceptional experience.

  • By implementing best practices in revenue management and proven techniques hotels increased 15% + incremental room revenue
  • Hotels typically start to see value within their first 4 months.
  • Our collaboration will be an extension of your team and work closely building a bond from the beginning

Many years of practice and experience shows that remote revenue management is as successful and efficient if not more as having an on site revenue manager. With outsourced revenue management you also get the benefit and knowledge of an expert revenue manager from different type of hotels and environment.

WHAT TO EXPECT

Business Mix Optimization

  • Finetuning the strategies to focus on right business mix
  • Offer practical solutions to improve penetration in under-performing segments
  • Implementation of group quotation guidelines
  • Individual quotations of all groups
  • Strategy optimization of fairs and high demand days
  • Corporate and tour operator pricing and availability strategy
  • Evaluate performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, groups…)
  • Reduce the cost of distribution by finding new less expensive means of delivering business

Yield Management

  • Competitor benchmarking
  • Dynamic pricing mechanism
  • Usage of restrictions and promotions to optimize low and high periods respectively
  • Data mining for trend analysis
  • Price elasticity study over weekdays and weekends
  • Maintain a 12 months rolling demand calendar
  • Room type yield management
  • Length of stay yield management
  • Daily pick-up analysis, strategy adjustments and reporting (Weekly analysis on Mondays)

Forecasting & Budgeting

  • Historical and Advanced pickup models
  • Monitoring of Pace reports, Daily Pick-up Reports
  • Monitoring of city sold-out dates and demand spikes
  • Rooms revenue forecast, current +3 months rolling (forecasted results, variances and target comparison)
  • Analyze overall monthly performance, provide summary report and recommendations to improve strategy

Distribution

  • Collaboration with OTAs to drive special promotions
  • Improvement of content / updates where necessary on OTAs
  • Improvement of GDS productivity
  • Direct and Indirect channel balance
  • Identify gaps/ leakages in reservations
  • Assess that all related systems are configured correctly, validated and working at full capacity
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WHY WORK WITH PLUTUS?

  • Most hotels inadvertently operate with inefficient and inadequate revenue management processes.
  • Independent and medium sized hotels often find it challenging to appoint, train and retain high quality revenue management talent.
  • Plutus brings years of online and off-line revenue management and hotel operations experience across markets.
  • The guarantee of improvement in the RevPAR of the hotels.

FIRST STEPS

First Contact

In case you are interested in what you have read, please get in touch and will arrange an interview with you.

During the interview you can advise about your needs, objectives and discuss what Plutus can do for you.

Assesment

After a successful initial contact we require to sign a confidentiality agreement so that you can be provided with a Free Audit.

This will allow Plutus to analyze your occupancy, average rates, room revenue totals etc.. and to provide you with a budget and see how much your income could increase.

Collaboration

If we reach agreement and feel you can trust Plutus, we sign a contract. Once this is finalized the work will start to reach the desired goals and see results in a few weeks/month.

We will keep close contact and at your daily disposal should you have any questions.

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Frequently Asked Questions

What is revenue management?

Revenue management refers to the usage of different tools and processes, such as performance data and analytics, in order to help the hotel industry see how the customer will behave. The data is afterwards utilized in order to make proper business decisions regarding pricing and distribution strategies.

Who is responsible for revenue management?

The revenue management team consists of a revenue manager, the operational team, the sales team, and line-level employees. The revenue manager is the main person, and he/she focuses on generating and analyzing data to make pricing decisions.

What are the benefits of revenue management?

Better ability to predict customer behaviour, wishes and needs, a more effective pricing strategy, along with an expansion of available markets. Another plus is a stronger relationship with other company departments.

What is the importance of revenue management?

Revenue management is a significant concept in the hospitality industry. Why? It allows hotel managers and owners to predict the demand and optimise availability and pricing so that their business can get the best possible financial results.