The Benefits of Total Revenue Management

TRM has been discussed and debated for a number of years, without any practical framework to use as a guide. The authors have developed this whitepaper to outline the importance of TRM, the implications and benefits. Additionally, it provides a roadmap to aid hoteliers in the navigation and implementation of TRM.

A whitepaper developed for HSMAI by

TABLE OF CONTENTS

Section 1: WHAT IS TOTAL REVENUE MANAGEMENT (TRM)?

  • What are the benefits of TRM
  • Increase revenue and profits
  • How hotels are starting to implement TRM
  • There are two approaches to define total revenue management and three additional aspects to consider.

Section 2: GET ALL STAKEHOLDERS ONBOARD
Stakeholders have different perspectives, but they all benefit by implementing Total Revenue Management

Section 3: SIGNIFICANT IMPACT ON PROFITABILITY

  • Now is the right time to start
  • Make the change grow revenue and profit for the hotel and personal growth and development for all team members.

Section 4: Action Plan: HOW TO GET STARTED WITH TRM

  • Plan for success in steps
  • Create a detailed action plan for successful implementation of Total Revenue Management

A) Example of a TRM Strategy

b) KPIs for each Stakeholder

DOWNLOAD THE WHITEPAPER (Launching 29th March 2023)

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