Creating value with purpose

Making Intent Real

The purpose of Revenue Management 

Implementing effective business strategies designed to optimize revenues is crucial for each organisation. It is crucial for a variety of reasons, however it is not easy. The purpose of professional revenue management is to significantly increase company profits and owner's ROI through advanced revenue management and strategic pricing techniques. These techniques are always customer-needs driven, not company-needs driven.

The overall purpose of successful revenue managers is to recognize their role in helping businesses succeed by ensuring that customers receive true value in every transaction made with that business. It means employing pricing strategies that result in charging prices that informed customers will willingly pay for the right product, in the right quantities, through the right channels, and at the right time. 

The Revenue Management Training and Consultancy at HGE International works with the Revenue Leader as well as the Revenue Team in the organisation to:

  1. Understand and embrace the importance of revenue management
  2. Understand the many complex factors that influence revenue management strategies and tactics
  3. Become better at making revenue management decisions than their competitors.

We also provide services for Owning companies and hotel developers which are interested in short and longer term revenue projections for an asset. 

Our Approach to the Revenue Management Process

We work with our clients systematically through this process, training and mentoring the team members through each step, evaluating existing practices.

We use existing practices and apply the Design Thinking Methodology to identify areas and processes of improvement with the team and develop tools for each step. 

The benefit of this approach is that the team will identify the issues themselves and work together to improve them. 

What We Do

We offer the following trainings and workshops:

Fundamentals of Revenue Management:
A combination of training and hands-on workshops is tailored to all levels of the organisation. These workshops are recommended as generic introductions to Revenue Management for the leadership and/or sales teams of the organisation and a first training for aspiring future Revenue Managers.

Revenue Management Reviews:
We review your Revenue Management Practices and work with the executive and revenue management team to improve processes. This review is quite extensive and covers pricing, inventory management, forecasting, market mix, competitive analysis, etc. It provides your organisation with a solid assessment of current revenue management practices and it assists your revenue team to move to the next level in their performance and focus.

Revenue Strategy workshop:
During this workshop we look in detail at the current positioning and performance of the organization. We evaluate the strategies that are currently in place, we look at the short to long term development of the destination or industry and we formulate the strategy for the next 24 to 36 months.

Revenue Strategy Mentoring:
We provide a strategy-mentoring programme which helps the organisation with the follow-through and implementation of new tools or work processes. We coach the revenue and executive team in decision making processes and provide remote or onsite training & development for the revenue team. This programme is particularly useful for independent hotels or smaller groups, who may not be able to allocate a full time resource for high-level strategic input and direction.