Revenue Management Strategies in the Hotel Industry

Revenue management tools and practices differ among hotel entities, and even when using the same methods, they can lead to different results. The aim of this bachelor’s thesis was to assess the use of revenue management in three selected hotels: Almanac X Alcron Prague, Holiday Inn Prague, and Panorama Hotel Prague. The thesis specifically aimed to analyze and compare the implementation of revenue management in these hotels and identify differences in their approaches to pricing, occupancy optimization, and demand management. The research was based on a combination of primary and secondary data, with semi-structured interviews with revenue managers from the selected hotels being a key source. The research revealed that price stability was a priority for all hotels. Pricing policy is closely related to target clientele and segmentation. All the hotels use certain forms of discounting or promotional tools. Given the location of all hotels in the capital city, the average length of stay is short-term (1.9 to 3 nights). Furthermore, it was found that all hotels actively use modern technologies and systems (e.g., PMS, online sales platforms), with only Almanac X Alcron not using RMS. To maximize revenues, all hotels also apply certain restrictions. Loyalty programs and their connection to customer behavior play a significant role, particularly at Holiday Inn Prague. Other hotels do not use this loyalty support tool. The results confirmed that revenue management is a complex area influenced by broader contexts, and individual aspects cannot be considered in isolation due to their interconnection with other internal and external factors.