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Questioning when and where your demand will come, who will be booking at your property, which hotels will you have to compete, and identifying challenging periods or seasons are important to manage expectations. Revenue management starts by analysing the market and competition.
Ultimately, prioritising achieving a fair share of direct sales empowers hotels to establish stronger control over guest data to increase profitability, and maintain autonomy over their brand image and customer experience. This is one of the first steps when creating a revenue management strategy, performing thorough market research.
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