The steps to follow to implement Renew Management are as follows: Step 1 Organize a Yield meeting once a week with the aim of everyone having the same vision of how demand will buy email database evolve. Develop the culture of Revenue Management in the hotel: each one has to understand what RevPar means, each one has to understand why a business is rejected, each one has to sell not only a rate but a value. Collect statistics to buy email database make informed decisions. Train staff to keep constant records of data: reservations in the books, waiting list, no shows, walk ins, walk outs, cancellations. Step 2 Is your segmentation appropriate? Can you enter pricing points? Can you identify trends by market segments? Check in your PMS the reports to be drawn to obtain. Average stay per days of arrival Advance booking by days of the week and segments The rate of cancellation by day of the week Total revenue by customers and segments Reviews the production of the most important clients based on a displacement analysis. What is the true contribution? Could an adequate price policy be built? Step 3 Develops and updates the demand calendar with any exceptions that influence demand.

Implement a forecast day by day, ideally by segments with room nights and average price achieved. Start a rolling forecast to have a view in the next 12 months day by day with the open price strategy buy email database in all distribution channels. Step 4 Record rejections for each segment: individual, group, seminar day, conference, etc. Decide the level of detail of information on the rejections to evaluate the total demand: day of the buy email database stay, segment, total income. Create a rejection ratio table to measure the impact of your decisions. Record all requests for groups, seminar days, conferences, etc. and materialization ratios. step 5 Develop a macro and micro pick up study (monthly and daily) to identify the days that are out of the ordinary, those with more or less occupancy. Decide on a level of detail: total hotel, pick up by segments. Incorporates in the pick up study the average prices by segments. Connect the pick up study tool to the forecast to create an automated forecast. step 6 Develop your knowledge over the duration of your stay.