Maximizing Hotel Revenue: Key to Survival During Economic Downturns
Hotel revenue management is crucial for sustaining business during economic downturns. The article discusses how hotels can maximize revenue by adjusting prices and controlling room inventory. By using examples from hotel operations, the study shows how revenue management theories can be applied effectively. The revenue per available room (REVPAR) is highlighted as a key indicator of success in this area. Overall, implementing revenue management strategies can greatly improve the operational efficiency of hotels in China, particularly in terms of pricing and inventory management.