Revenue Management

The term revenue management is often used in connection with tourism and the hotel industry and describes an economic concept that helps maximize revenue growth. Information about a customer's willingness to pay is evaluated and used to sell the right product to the right customer at the right time. Software that is connected to the database of a hotel, provides information about occupancy rates, capacity, demand, and prices to optimize product availability and price. Through automatic and smart pricing, demand and availability can be balanced in order to increase revenue.