“Selling the right room, to the right client, at the right moment, for the right price, through the right distribution channel, with the best cost efficiency”.
Within the hotel industry, it is widely accepted as the definition of Revenue Management. Well, to get more insights and details on this, we were glad to welcome Mr. Ricky Suherman, E-Commerce Manager, free lancer and our very own Bachelor of International Hospitality Management Programme Alumnus, as part of the Expert Sharing Series to speak on “Why is Revenue Management Important?”.
Mr. Suherman, shared his experience and knowledge on revenue management that evolved around the use of analytics and performance data that provides the ability to make the most out of a perishable inventory of hotel rooms, allowing them to maximize the amount of money the business generates, which also serve to help hotels to predict demand and consumer behaviors more accurately. Students from Bachelor of International Hospitality Management (BIHM) under the Room Division Management module, thoroughly benefitted from the session with Mr. Suherman who patiently answered all their queries and concerns on revenue management.