Revenue management is now an established practice among hoteliers, embraced in the main to maximise income from bedrooms. It has taken some time for the principles to be adopted, but the majority of general managers would now rank their revenue managers among their most trusted team members for their ability to smooth out seasonal peaks and troughs.
According to the experts we've spoken to, just adopting a strategy for one extra profit centre can have dramatic results. We're some way off dynamic pricing on menus, but there are still plenty of opportunities in food and beverage within hotels.
Of course, any strategy needs to be informed by current trends and best practice, and in that regard The Caterer can help. Next month we are holding our two-day summit (6-7 November at the Jumeirah Carlton Tower in London), with over 30 industry experts on hand to offer their advice and inspiration on food and the secrets of the best service on the first day, and the business of running brilliant hotels on the second.
If you're looking for advice on refining your revenue management strategy Brian Reeve, chief executive at Goppar Digital, will be on hand on the second day of the summit to explain how to apply an online travel agent blueprint to your own brand to drive gross operating profit.
Meanwhile, critics will explain what they look for in an overnight experience and share their wisdom on the most common mistakes in hotels. Our expert panels will also consider the pros and cons of joining a brand, explore what today's guest is looking for in a hotel stay and discuss how to create an impactful marketing campaign using the best of online and offline content.
For information on all the speakers, visit www.thecaterersummit.com