“Making the most of IDS as part of your Revenue Management strategy” SMILE Conference May 2008 eRevMax Inc, Sascha Hausmann, COO. “Making the most of IDS as part of your Revenue Management strategy”. Where when and why do you book your travel and how do you do it?
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WHO ARE WE ?
44% of the UK population bought online in 2007 (BBC)
53% of all travel in the US was bought online in 2007 (Phocus Wright)
35% of all travel in Europe was bought online in 2007 (Phocus Wright)
Best deals on the internet overall amongst all offered products on the web:
“How Internet Distribution Systems impact the way hotels need to view revenue management”
What is Revenue Management ?
“ … Revenue Management is the process of understanding, anticipating and reacting to consumer behaviour in order to maximize revenue or profits… “ (Wikipedia, April 2008)
and not the art of being the cheapest!
Whatinfluences consumer behaviour ?
Conclusion: 5 out of 6 can be influenced by the hotel
“How Internet Distribution Systems impact the way hotels need to view Revenue Management”
Today, the consumer decides differently …
Hotels have the choice now...
1. Different rates at different sites
2. Keep your rate parity at all sites
Right Time – Consider:
Summary: Right time, right place, right price. Revenue Management in a world wide web.
Right Place – Research:
Right Price – Manage:
Where is my business coming from? Management in a world wide web.
Who are my competitors and how do I compare?
Which channels do I need to work with?
What should be my pricing strategy?
How or how often should I update my distribution channels?
How do I monitor results?… Ask yourself…
Airline CRS (GDS)
Who will help to manage this chaos ?
RateTiger Management in a world wide web. Product Suite
Helping hoteliers to better manage online revenue and distribution ...
RTStrategy (coming soon)
Time consuming process?You can’t add more sites? Confused?
With RateTiger you willManage More by Managing Less