Room rates in Moscow remain the highest in the world for the fifth consecutive year, despite a 12 per cent year-on-year slide to £266 per night. They were also over a fifth higher than the second most expensive destination, Abu Dhabi (£223).
We have to start with a budget or forecast before we consider working on our pricing. But how do we forecast accurately. Here some hotel revenue management implementation action steps to help you out.
How much of your business is yieldable? And how much of your business in non-yieldable? Or how much of your business allows you to really apply revenue management?