What is the definition of Revenue Generation in the hotel industry?
The word Revenue Generation, refers to the procedure of making sales of goods and services, with the objective of creating revenue.
For example, a corporation wants to make a hundred thousand Euros of income this year. Then, the corporation needs to set up a plan to attain this purpose.
Different tactics subsist, according to every business. These plans comprise every department, not only sales and marketing. In fact, to be competitive, you have to locate up from your competitors.
Here some examples of tactics:
- generate more vision
- increase your alteration rate (through website, live chat, promotion, etc)
- expand an ideal consumer profile
- implementing finest practices to steer the accomplishment of your revenue strategy
- increase the average cost per sale