https://padlet.com/mrsfarahseet/Topic4DTRM03 How to Get Revenue Management Right for 2017 en-us 2017-04-18 02:33:45 UTC 2017-10-31 00:16:03 UTC hello@padlet.com https://padlet.com/mrsfarahseet/Topic4DTRM03/wish/200696419 The team feels that Sales and Marketing Department is the stronger and more needed Department than the Revenue Department. Revenue Department predicts real-time or segment demand at micro market level and optimising the hotel pricing strategy and availability of products to match that demand. 
However, Sales Department promotes your business and drives sales of its product and services while gathering necessary research to identify target customers and other audiences. They plan and implement sales, marketing and product development programmes, both short and long range, targeted towards existing and new markets. Therefore, hotels need to identify target customers first in order to make future forecast. 

]]> 2017-10-26 07:04:31 UTC https://padlet.com/mrsfarahseet/Topic4DTRM03/wish/200696419 https://padlet.com/mrsfarahseet/Topic4DTRM03/wish/201605091 Revenue management is critical to the progress of any hotel. To a certain extent, revenue management dictates whether the hotel will succeed or fail, as the predictions of market behaviour by Revenue managers and analytics is crucial to the growth of revenue and increasing profits. It also makes sure that the hotel does not lose out on any crucial opportunities. Hence, it is important for a hotel to invest in Revenue management training, as having a revenue management concept and culture in place will help the hotel to look forward into the future while staying focused on current strategies and optimizing its profitability.]]> 2017-10-30 06:37:29 UTC https://padlet.com/mrsfarahseet/Topic4DTRM03/wish/201605091 https://padlet.com/mrsfarahseet/Topic4DTRM03/wish/201759574 The Sales/Marketing department is more important because a salesperson promotes and sells the hotel's facilities and at the same time creates and maintains relationships in their line of work. The relationships forged can bring profitable businesses in the long term. These long-term relationships can help the hotel in marketing their rooms, facilities and service.

Nevertheless, the Revenue department is also important as they would maximise revenue by setting the right price at the right time to allow the hotel to earn more profits. Moreover, it aids in deciding the best rates for the hotel which will be used by the Sales/Marketing department when they meet potential clients.]]> 2017-10-30 15:04:56 UTC https://padlet.com/mrsfarahseet/Topic4DTRM03/wish/201759574