Revenue management is the strategic pricing and distribution of a property's rooms, facilities, and amenities to the right audience at the right time. In both the short- and long-run, revenue management helps in boosting sales and revenue. Revenue management measures what different customer segments are willing to pay. This can only be done by measuring and monitoring the supply and demand of the hotel rooms, eventually breaking it down into various factors.

What is Hotel Management Software? Hotel management software is a tool that is widely used by hospitality businesses to manage their...