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From the bloggers at Advanced Outdoor Solutions:
When it comes to revenue management, most people think of increasing rate. What they do not understand, is revenue management means balancing rate and occupancy to achieve maximum revenue.
Just recently, we on-boarded a client in the south. They have a beautiful park serving local industries who need spaces for workers in the area.
We started off using their monthly rate, prepared their website and marketing analysis reports, and their comp set analysis. We soon learned some interesting data that helped drive our advice to them.
The comp set showed they were the nicest park in the area, but their rates were $100 a month higher than their comp set.
The full blog can be found at www.advanced-outdoor.biz.