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The benefits of total revenue management whitepaper 2023.pdf (844.69 kB)

The benefits of total revenue management

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posted on 2023-09-21, 08:15 authored by Detlev RemyDetlev Remy, Brandon Hian Khoon ChanBrandon Hian Khoon Chan, Anders Johansson

Total Revenue Management (TRM) is a business strategy that aims to optimize revenue from all sources within a hotel. It is a holistic approach involving all departments, from sales and marketing to revenue management, to work together to increase the average guest spend and maximize revenue per room. This whitepaper will provide an in-depth overview of Total Revenue Management, including its benefits, challenges, and the critical steps to get started. The focus will be on the importance of a holistic approach, the role of technology in optimizing revenue, and the importance of involving all stakeholders in the process. By following the best practices outlined in this whitepaper, hotels can increase their revenue, improve their guest experience, and remain competitive in a rapidly changing industry.

History

Journal/Conference/Book title

HSMAI Academy

Publication date

2023-08-15

Version

  • Published

Corresponding author

Dr Detlev Remy

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