Though revenue managers are generally well-informed, sometimes they forget the importance of how having a close relationship with the marketing team pays off in the information they gather from the competition.
Sales and marketing professionals are constantly exposed to the pulse of the industry as they gather information from hoteliers, travel agents, DMC and clients, whether at trade shows, events or through their networks. PR teams are up on trends and what is being published by the media, providing relevant data that can contribute to Revenue Strategy.
Just as importantly, the revenue management team can help hotel marketers use their budgets more effectively and run more targeted campaigns. A DORM can comb through the hotel’s performance numbers - as well as website traffic analytics and web shopping data from the online booking engine - to know which source markets are driving the most interest and booked reservations.
With that data, a hotel could know, for instance, if more people than usual from the United States or Brazil are looking and booking. As another example, if a favorable currency fluctuation in Argentina caused more travelers from that country to search online for vacations in Mexico, hotels there could send direct-marketing campaigns with competitive room rates to drive business.
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