How can I use room type rate strategies to get the most revenue from my resort?

In the past, when hotels and resorts were enjoying great demand, we all knew as revenue managers that there was an opportunity to maximize revenue at the room-type level.

Because the priorities were different, and we were enjoying good demand for the hotels, that priority was parked. Why? Because the data was never clean enough or the room type performance was always mixed.

However, as demand runs lower, you need to be able to really understand the different type of demand that you have for each one of your rooms types, to really understand the profit that you are able to turn out of each room type, i.e. the cost of turning the room around, and the possibilities that each room type gives you to convert booking for a longer length of stay. All these elements really need to be dissected and mapped to each one of the room types. You need to really work on the individual demand of each room type category because there is great potential to really adapt the strategy of your hotel for each one of those room types.