Track your hotel’s leads and lags. It’s easy to forget when your hotel had a slow or busy season, especially when it’s been fluctuating over the past few years. Revenue management tracks these trends for you, so that you can better predict when marketing will need to step in. These indications of “leads” or “lags” present the perfect opportunity to prevent a revenue dip, or better yet, capture more revenue. For example, your marketing team can prepare for a slow season by running a promotion or reducing rates to attract more business. Monitor your competition. “Competition” is one of the 4 C’s of marketing, and another area that revenue management tools can help monitor on your hotel’s behalf. You can easily see your hotel’s rates vs. your comp set, helping you find out if your rates are too low or too high. When your hotel can offer a competitive price, either when it matters most or when you can afford it, you will have an edge on your competition that they didn’t expect. And that, is priceless. Get the full story at rainmaker