Guest blog by Richard Vaughton of Rentivo
If you thought this was just about pricing, think again!
So what exactly is “Revenue Management” and why are we seeing so much of it in the short term rental press, zoom calls and conversations. Wikipedia describes it:
“as the application of disciplined analytics that predict consumer behaviour at the micro-market levels and optimize product availability and price to maximize revenue growth. The primary aim of revenue management is selling the right product to the right customer at the right time for the right price and with the right pack”.