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Revenue opportunities must be optimised holistically.

This metric is calculated by dividing the total revenue for the day by the total number of seats in the restaurant, multiplied by the number of hours the restaurant has been working.

Packaging to profit can also be adopted in effectively marketing the restaurant to existing customers and prospects to improve RevPASH. Another area of focus for a revenue manager should be the RevPAM.

Spas in hotels have turned out to be a focus area for revenue generation. Revenue managers should focus on ways to increase their RevPATH and optimise treatment room utilisation (TRU) to help them yield and maximise on all revenue opportunities.

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Revenue managers should ensure the spas are using their treatment rooms to the maximum and adopt packaging for profit. For example,. creating a marketing campaign to promote the slow times/off peak times.

Focusing on up-selling will also bring in additional revenue.

In the days to come, revenue managers will need to depend on aggressive technology tools to manage rates, rate restrictions, inventory, and reservations, efficiently and accurately.
 

Revenue managers must take advantage of the technology solutions available in the market to drive more productivity in their department.

They must look for solutions that allow them to review their current rates and allotments on all of the major websites; provide assistance in determining optimal rates for all distribution outlets; allow tracking of competitor rates electronically in real time; provide forecast of total customer spend patterns and booking behavior, and help analyse customer price-sensitivity and distribution channel profitability.

Such solutions will help drive dynamic pricing on all channels and optimise revenue opportunities across the hotel – from room inventory, restaurant, conference and banqueting, to the spa.