Forecasting is complex. Imagine needing to predict demand and in turn, set a rate every day for the next year. Based on even a very basic hotel set-up, imagine just 5 room types, being sold to 5 different market segments, through just 5 distribution channels.
That is over 45,000 pricing decisions to be made every single day!
Now equate that to your unique hotel set-up and try to predict that for not just one year but two! That is a problem that Right Revenue solves for you.
What happens when you over forecast?
Imagine that you are predicting high demand for a date three months in advance. You start to close lower rates, restrict channels and increase rates. These actions are all perfect if your forecast is accurate, but what if you have misjudged and have ‘closed’ and ‘pushed’ too soon. Your business leaks to competitors, and you leak revenue!
And what happens if you under forecast?
The opposite happens, and you leave expensive distribution channels open too long, don’t close closer rates and end up filling with cheap business. Missed revenue opportunities mean losing revenue, and in days when every penny counts, forecast accuracy is crucial.
Right Revenue forecasts accurately
Right Revenue will ensure you never miss an opportunity by forecasting demand every day for two years in advance. We forecast the way you need us to: by segment; by source; by channel, by room type, and by rate type – all with less than a 2% margin of error!
Would you like to learn more?
About Right Revenue
Right Revenue helps independent hotels make dynamic price decisions and grow revenue through smart technology, useful data and accurate forecasting. Founded by Adrienne Hanna, after 25 years Revenue Management experience in the independent hotel sector, Right Revenue provides hotels with a user-friendly solution to a complex problem; therefore ensuring that independent hotels can operate on a level-playing field with the brands when it comes to having a strategic rate strategy.
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Address
Right Revenue
5 Windmill Business Park
Saintfield
Ballynahinch
BT24 7DX