Recruiter's Glossary

Examples: GDS Integration • Housekeeping Par • Occupancy Rate

Revenue Management

Term from Boutique Hotels industry explained for recruiters

Revenue Management is a strategy hotels use to sell the right room at the right price to the right guest at the right time. It's like carefully adjusting prices of hotel rooms based on different factors such as seasons, local events, or how full the hotel is. Think of it as similar to how airline tickets change prices depending on when you book. People in this role help hotels maximize their income by analyzing data about bookings, competitor prices, and market trends to make smart pricing decisions. You might also see this referred to as "Yield Management" or "Hotel Revenue Optimization."

Examples in Resumes

Increased hotel profits by 25% through implementing Revenue Management strategies

Led Revenue Management and Yield Management initiatives across a portfolio of boutique hotels

Developed Hotel Revenue Management systems that improved occupancy rates by 30%

Typical job title: "Revenue Managers"

Also try searching for:

Revenue Manager Revenue Optimization Manager Yield Manager Director of Revenue Revenue Strategy Manager Revenue Analyst Hotel Revenue Manager

Where to Find Revenue Managers

Professional Associations

Online Communities

Job Boards

Example Interview Questions

Senior Level Questions

Q: How would you develop a revenue strategy for a hotel during both peak and off-peak seasons?

Expected Answer: A senior revenue manager should discuss analyzing historical data, market trends, competitor pricing, and creating flexible pricing strategies. They should mention working with marketing teams, considering different customer segments, and having contingency plans for unexpected events.

Q: How do you handle revenue management during a crisis situation like COVID-19?

Expected Answer: Should demonstrate strategic thinking about alternative revenue streams, cost management, maintaining market share, and adapting pricing strategies to new market conditions while preserving long-term customer relationships.

Mid Level Questions

Q: How do you determine the optimal room rates for different seasons?

Expected Answer: Should explain looking at past booking data, local events, competitor prices, and market demand. Should mention using revenue management software and considering different booking channels.

Q: How would you manage overbooking situations?

Expected Answer: Should discuss calculating safe overbooking levels, having partnerships with nearby hotels, proper guest communication, and compensation policies while maintaining customer satisfaction.

Junior Level Questions

Q: What factors influence hotel room pricing?

Expected Answer: Should mention basic factors like seasonality, day of week, local events, competitor rates, and hotel occupancy levels.

Q: How do you monitor competitor pricing?

Expected Answer: Should describe using rate shopping tools, checking competitor websites, understanding market segments, and tracking local events that might affect pricing.