Before revenue managers go down the path of total customer profit optimization, they should ask themselves a few questions: - Are you capturing and reporting on your mix of transient and group business based on room and non-room revenue? - For each segment of business, do you understand booking pace, source of business,product type, ancillary spend and acquisition/retention costs? - Are you optimizing your transient mix of business by forecasting unconstrained demand by segment? Are you optimizing revenue by length of stay, resulting in overbooking? - Are you capturing won and lost group business and pricing your group rooms by considering the following: willingness to pay; margins associated with catering and other ancillary spend; and meeting-space utilization? - After all of the above, is there enough business to fill the hotel on regular basis? Get the full story at Hotel News Now