Revenue Management Strategy (RMS)

What is the definition of Revenue Management Strategy in the hotel industry?

A specific or team answerable for handling revenue at a hotel, or maybe even through several hotels that are part of an global chain, will find liberation in having a Revenue Management Strategy to refer to when trading with glitches and undertaking unforeseen issues, and of course when seeking to maximize earnings through attaining full occupancy at the highest imaginable rate all year round (every hotel manager’s dream).

Well, the best way to look at it is as a revenue management toolbox: one that comprises a set of gears and methods that can efficiently apply the notion of hotel revenue management, where sometimes huge data sets need to be examined and assessed.