BUISENESS MANAGEMENT
INVENTORY CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Close out discount rates
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Close out special event rates
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Increase levels of overbooking
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Decrease levels of overbooking
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Detailed explanation-1: -Revenue managers can monitor demand and room availability and adjust prices accordingly. A simple example is that when demand is low, hotels can offer low prices, and as demand increases, they can offer higher prices.
Detailed explanation-2: -6 revenue management strategies: Analyze the market. Segment your customer base. Choose the best pricing strategy. Focus on customer retention.
Detailed explanation-3: -Monitor New Business Bookings and use these changed Conditions to reassign Room Inventory (As Occupancy increases, consider closing out Low Room Rates and open them Only when Demand decreases) Consider establishing a Minimum Number of Nights per Stay. Select the Group that offers the Highest Total Revenue.