5 Process

A successful revenue manager needs a structured and repeatable process of Identification, Intervention, and Communication but time constraints and team structure need to be considered before implementing any of the daily, weekly, or monthly processes below.

Some teams consist of full time Revenue Manager(s), RM Consultants, Property Managers that handle Revenue duties, or a mixture of any of these roles. If your team’s capacity is stressed then you may opt to start with, as your portfolio and ability to hire also grows, some of the daily processes below but instead focus on doing them a few times a week. If you’re a seasoned Revenue Manager with a full team then you may find some of the processes helpful to fit in with what you are currently doing. The below outlines for RM processes are by no means exhaustive or static. 

Doing some Revenue Management is better than none. If you’re short for time then focus on the below processes that we’ve designated as “Mandatory”. Like mentioned, there is flexibility with the amount of time and frequency spent on these activities.