Learn Revenue Management Skills

I have been into front office department for that past 10 years, and recently my General Manager designated me as the Revenue Manager of our hotel.(infact there has been no such position in the past at our hotel and I am suppose to be the first Revenue Manager at our hotel)

So to begin with, I have been doing the following:

  1. Had a tie-up with all the OTAs and got our hotel featured on all the portals.
  2. Got a tie-up with a channel manager and got our rates featured on to the GDS.
  3. Did research on the major MICE movements in town, identified the high demand days, and featured higher rates in all the distribution channels during the high demand days.
  4. Acquiring reports on the performance of our competitive hotels etc.

Other than the above 4 points, I would like to know what else I can do in setting up a Revenue Management Department - RMD

Since I am new to this field, would appreciate comments & suggestions from you experienced hoteliers.

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Revenue Manager is responsible for both strategic and tactical initiatives related to revenue maximisation. As a member of the Revenue Management Department, you will have the opportunity to set strategic direction, determine pricing, create promotions, and explore new distribution opportunities.

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