Today, revenue management professionals in the hospitality industry face the challenge of working in increasingly changing and diversified environments. The ability to adapt strategically is no longer simply an advantage, but an essential necessity. Tactics must be transformed into dynamic, flexible and responsive solutions, adjusting to the demands and variety of segments found in hotels with multiple offerings.
Complex segmentation, which relies on advanced property management systems (PMS) and revenue management systems (RMS), is crucial to attract different types of customers. This includes those looking for leisure to corporate clients, as well as groups and events. It is increasingly common to find a mix of options ranging from tourist apartments and hostels to conventional hotels.
However, the reality is that, despite the robustness of the systems, there are still challenges in terms of flexibility. This leads the revenue manager to integrate data analysis with strategic judgment and practical experience.
In addition, the initial challenge is to establish favorable agreements that do not negatively affect the average price of the business, which implies that we must be clear about the net costs of our process.
Hybrid revenue: adapting to a multi-segment environment
The term hybrid revenue reflects the ability to adjust to an environment that encompasses diverse segments, where the presence of different types of customers and channels demands constant review and adaptation of strategies. Properly managing inventory and pricing involves understanding the diversity of customers according to their profile. For example, a hostel not only provides lodging, but also creates a sense of community and experiences; while a luxury hotel must balance direct sales with maximizing revenue through events, high-end rooms and other available services.
The best way to distribute a product across different channels is based on a detailed understanding of the customer and competitive context, as well as proactive product positioning. While benchmarking continues to be valuable, its role should be that of a complementary tool and not the primary driver of strategic decisions. Demand forecasting requires incorporating the study of seasonality, market trends, real-time behavior and the ability to adapt to new circumstances.
The location and specific characteristics of each destination further complicate the practice of revenue management. For example, a hostel located in Plaza del Sol in Madrid can increase its occupancy and RevPAR through self-organized events. In contrast, a transit hotel in Ourense could take advantage of business tourism and, with the right strategy, become a local benchmark, attracting workers from nearby industrial areas who need temporary lodging. Achieving the loyalty of these customers is the real challenge.
The essence lies in combining technology with a strategic approach, as well as ongoing training and professional networks. Hybrid revenue management should be interpreted not only as a combination of methods, but as a holistic perspective that prioritizes revenue optimization and sustained value creation for both the hotel and the customer.
Understanding demand to adjust hybrid strategies
To be able to adjust hybrid strategies in different destinations, it is crucial to know how demand behavior varies according to location and the segment that predominates. For example, in cities, the business segment tends to be the strongest during the week, while weekends receive a greater number of leisure tourists seeking getaways and cultural activities. In contrast, in coastal tourist destinations, seasonality plays an important role: the summer months are when most demand is concentrated, with the leisure segment seeking family experiences and services as the main focus. This variation requires pricing strategies to be very flexible, implementing policies such as minimum stays, cancellation conditions and last-minute offers. However, early bookings are always encouraged, as this allows for better planning and positioning of the establishment, avoiding last-minute sales pressure. It is also possible to offer promotions adjusted according to the time of anticipation and the channel used for the reservation.
Identify the ideal channel to make sales, making sure not to exceed distribution to maintain inventory control under our supervision. Negotiate commissions and manage inventory in specific quantities.
The revenue manager must also take into account the diversification of distribution channels, as well as the growing relevance of metasearch engines and OTAs. It is essential to know when to strengthen direct sales and when to opt for alternative channels, depending on the season and the expected customer profile. Digitalization and process automation, together with the effective use of data and advanced analytics, allow strategies to be adjusted in real time, adapting to the characteristics of the destination and to unforeseen events in demand, such as weather variations, local events or new trends.
Database segmentation in hotels with multiple segments: the hybrid revenue challenge
One of the main challenges of hybrid revenue in hotels that operate in multiple segments is the proper segmentation of their customer database. This involves enhancing the personalized experience and designing products for specific micro-segments. An example of this could be the creation of packages designed to match the type of property being promoted, whether it is lodging or different stays. For example, in certain locations, coworking spaces aimed at corporate clients could be set up in destinations that have this demand. This approach not only increases occupancy in off-peak periods, but also maximizes the value of each segment, generating customer loyalty and strengthening the brand.
Cooperation between sales, marketing and operations teams is a key aspect. A hybrid approach demands a holistic view of business strategy and effective communication to recognize opportunities and adapt operations immediately. Implementing technologies that integrate data from systems such as PMS, RMS, CRM and BI provides the transparency and speed needed to take advantage of opportunities in each segment and market, as well as to influence the decision-making process.
The hybrid income horizon
In conclusion, current and upcoming trends are moving towards the personalization of the user experience, as well as the effective use of artificial intelligence, seeing it as a tool that will facilitate the future without reservation. Machine learning will play a crucial role in anticipating demand and suggesting an appropriate balance between product, cost and service, offering optimal prices in different circumstances. In addition, sustainability and adaptability are gaining relevance, as customers become increasingly demanding in choosing destinations and services that are responsible.
In conclusion, hybrid revenue in hotels serving multiple segments requires a comprehensive, adaptable and focused strategic perspective to adjust tactics according to the particularities of each destination and segment. In this way, specialized teams not only optimize revenue, but also become drivers of innovation in the contemporary hotel industry.
