Customer-Centric Revenue Management (CCRM)
CCRM, or Customer-Centric Revenue Management, puts the guest at the heart of every decision. While yield management helps maximise revenue and offers can stimulate demand, do we understand why travellers choose another hotel over ours? We should also learn from the guests who never booked with us and understand what we could have done differently.
In other words, CCRM, or Consumer Centric Revenue Management. It is neither CRM nor Revenue Management, but rather a comprehensive strategic vision that places the customer where they belong: at the centre of everything.
Revenue Management is already widespread practice in urban hotels, while resort hotels are gradually discovering its benefits. We use Yield as a measure to maximise our revenue, with a clear focus on transactions across the various distribution channels. We stimulate demand through offers and promotions during periods of low occupancy, and benefit from periods of high demand by increasing our rates when we see an opportunity to do so.
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